Renovated Two-Home
For Sale
$280,000
127 & 129 Center Street, New Iberia, LA 70560
Residential Income, New Iberia, LA
Property Size2,188 SF
Lot Size0.14 Acres
Price / SF$127.97
Days on Market63
Property Features for 127 & 129 Center Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2
Parking
1
Parking features
Garage
Appliances
Dryer, Refrigerator, Washer, Electric Cooktop
Elementary school
Pesson
Middle school
Iberia
High school
New Iberia
Elementary school district
Iberia Parish
Middle school district
Iberia Parish
High school district
Iberia Parish
Directions
From St Peter Street in New Iberia, turn left onto Center St. Homes are on the right side at the corner of Charles St and Center St.
Subdivision
I2
Standard status
Active
APN
0505343000
Size
2,188 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
1-80 X 75 ITEM 2 CHARLES ST, KOCH, THOMAS, CENTER ST IMP (127 CENTER ST) ITEM 3 IMP (129 CENTER ST) ITEM 1 ACQ: JPT23 LLC - 2023 (13671)
Legal Description
1-80 X 75 ITEM 2 CHARLES ST, KOCH, THOMAS, CENTER ST IMP (127 CENTER ST) ITEM 3 IMP (129 CENTER ST) ITEM 1 ACQ: JPT23 LLC - 2023 (13671)
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Floors in Building
1
Number of units
2
Flooring type
Wood
Building materials
Brick
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Allyson Miller · License #995717363
(337) 546-5665
Added: Jul 13
Changed: Sep 12
Last Checked: Sep 13 at 6:06PM
MLS# 2600006695
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property includes two renovated homes on a single 0.14-acre parcel, totaling 2,188 square feet. The larger residence offers three bedrooms and 1.5 bathrooms, while the second provides two bedrooms and one bathroom. Both homes are furnished and feature wood flooring, brick construction, central heating, and central air conditioning. Appliances include refrigerators, washers, dryers, and electric cooktops.
Located at 127 & 129 Center Street in New Iberia, the property includes garage parking and is situated near shopping, dining, and local amenities. The two-residence layout supports flexible occupancy arrangements, including separate use of each home or multi-generational living.
Located at 127 & 129 Center Street in New Iberia, the property includes garage parking and is situated near shopping, dining, and local amenities. The two-residence layout supports flexible occupancy arrangements, including separate use of each home or multi-generational living.
Key Highlights
- Two renovated homes on one 0.14‑acre parcel
- Combined property size of 2,188 square feet
- Main home has 3 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,320
$284.3K
Cap Rate 7%
$203,086
$203.1K
Cap Rate 9%
$157,956
$158.0K
Market Conditions
NOI Build-Up for 2,188 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.3K $10.20/SF
− Vacancy
−$2.0K −$0.92/SF
EGI
$20.3K $9.28/SF
− OpEx
−$6.1K −$2.78/SF
NOI
$14.2K $6.50/SF
Area
Iberia County, LA
Vacancy
9.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$284,320
Cap Rate 7%
$203,086
Cap Rate 9%
$157,956
Alternative Uses
Best Use
Multifamily LT 5
$203.1K
$177.7K – $236.9K
NOI $14,216 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$190.8K
$167.0K – $222.6K
NOI $13,358 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$361.9K
$316.7K – $422.2K
NOI $25,332 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
930
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two furnished residences share one parcel, with updated interiors and separate bedroom and bathroom configurations.
Where is this duplex located?
The property is located at 127 & 129 Center Street New Iberia, LA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two renovated homes on one 0.14‑acre parcel; Combined property size of 2,188 square feet; Main home has 3 bedrooms and 1.5 bathrooms
