Block-Through Multifamily
For Sale
$550,000
130 S Main Street, Saint Martinville, LA 70582
MULTI_FAMILY - St. Martinville, LA
Property Size6,640 SF
Price / SF$82.83
Days on Market482
Property Features for 130 S Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 3
Parking features
None
Window features
Window Treatments
Patio and Porch features
Porch
Interior features
High Ceilings, Walk-In Closet(s), 9+ Ft Ceiling, Window Treatments, Electric Dryer Connection, Electric Washer Connection, Gas Stove Connection, Walk-In Closet(s)
Exterior features
Porch
Fencing
Privacy
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Gas Range
Lot features
Landscaped, Level
Elementary school
St. Martin
Middle school
St. Martin Middle
High school
St Martinville
Elementary school district
St Martin Parish
Middle school district
St Martin Parish
High school district
St Martin Parish
Directions
Take Hwy 90 to LA-182 and exit. Merge onto E Main Street. Turn left onto LA-96 E. Turn left onto S Main Street. Home will be on your left.
Subdivision
M2
Standard status
Active
APN
45064
Size
6,640 SF
Taxes and HOA fees
Tax Description
LOT: BOULET ALS, MAIN ST., BIENVENU ALS, WASHINGTON ST.COB: 709-088-168394 1213-433-274603 1752-243-505299 1889-047-562861
Legal Description
LOT: BOULET ALS, MAIN ST., BIENVENU ALS, WASHINGTON ST.COB: 709-088-168394 1213-433-274603 1752-243-505299 1889-047-562861
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
gated backyard passage
Building Details
Number of units
3
Flooring type
Wood
Building materials
Wood Siding
Roof type
Metal
Additional Structures
Guest House
Listing Agency:
Real Broker, LLC
(337) 534-0555
Listed By:
Teresa W Rainey · License #0995691537
(337) 366-1454
Added: Apr 28, 2025
Changed: Jul 25
Last Checked: Aug 22 at 3:06PM
MLS# 2020023384
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 block-through multifamily property spans an entire block from 130 S Main St. to 130 S Washington St., providing four total rental units within a single rectangular lot footprint. The 130 S Main St. property is a New Orleans-style 4 bed, 3 bath home currently operating as a short-term rental, with use flexibility for a qualified buyer. The parcel also includes 130 S Washington, a tenant-occupied home, plus a duplex at the Washington address with Units A and B, with one unit currently rented.
All of the properties are connected by a gated backyard passage designed for seamless access across the combined footprint. The location places the block directly across from the St. Martin de Tours square and Evangeline Oak in historic St. Martinville.
The overall setup offers a connected, multi-unit configuration for both long- and short-term rental use across multiple structures on one consolidated lot.
All of the properties are connected by a gated backyard passage designed for seamless access across the combined footprint. The location places the block directly across from the St. Martin de Tours square and Evangeline Oak in historic St. Martinville.
The overall setup offers a connected, multi-unit configuration for both long- and short-term rental use across multiple structures on one consolidated lot.
Key Highlights
- Four total rental units spanning the block from 130 S Main St. to 130 S Washington St.
- At 130 S Main St.: 4‑bed, 3‑bath home currently used as a short‑term rental; includes high ceilings (9+ ft) and walk‑in closets.
- Parcel includes 130 S Washington St. tenant‑occupied home plus a duplex (Units A & B), with one unit currently rented.
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
$49,397
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
8.98%
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%
$987,940
$987.9K
Cap Rate 7%
$705,671
$705.7K
Cap Rate 9%
$548,856
$548.9K
Market Conditions
NOI Build-Up for 6,640 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
$98.8K $14.88/SF
− Vacancy
−$9.0K −$1.35/SF
EGI
$89.8K $13.53/SF
− OpEx
−$40.4K −$6.09/SF
NOI
$49.4K $7.44/SF
Area
St. Martin County, LA
Vacancy
9.10%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$987,940
Cap Rate 7%
$705,671
Cap Rate 9%
$548,856
Alternative Uses
Best Use
Multifamily LT 5
$793.5K
$694.3K – $925.7K
NOI $55,543 @ 7.0% cap · market cap 10.10%
Second Best
Apartment 5plus
$705.7K
$617.5K – $823.3K
NOI $49,397 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,070 @ 7.0% cap · market cap 18.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
Explore this area
Business Placement
Demographics for 70582, LA
19,088
Population
9,122
Households
2.1
Avg Household Size
41
Median Age
13%
College-Educated
84%
High-School Grad
148.0 sq mi
ZIP Area
129
Density / Sq Mi
$46,690
Median Household Income
$36,265
Median Earnings
$787
Median Rent
$149,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Four rental units connected by a gated backyard passage between two Main and Washington addresses.
Where is this short term rental property located?
The property is located at 130 S Main Street Saint Martinville, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four total rental units spanning the block from 130 S Main St. to 130 S Washington St.; At 130 S Main St.: 4‑bed, 3‑bath home currently used as a short‑term rental; includes high ceilings (9+ ft) and walk‑in closets.; Parcel includes 130 S Washington St. tenant‑occupied home plus a duplex (Units A & B), with one unit currently rented.
