Three Duplex Income
For Sale
$599,000
1304 Lewis Street, Sulphur, LA 70663
Three 2002-built duplexes totaling six rental units, with five units currently tenant occupied.
Property Size2,651 SF
Price / SF$225.95
Days on Market28
Property Features for 1304 Lewis Street
General Information
Standard status
Active
Size
2,651 SF
Property subtype
Multi-Family
Occupancy
83%
Additional Details
Multifamily Units
6
Amenities
private laundry closet
Building Details
Year Built
2002
Tenancy
Multi
Listing Agency:
Century 21 Bono Realty
(337) 478-1578
Listed By:
Kym Digiovanni · License #KDIGIONA
Source:
Castlere
Added: Jul 25
Changed: Aug 16
Last Checked: Aug 21 at 4:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Bono Realty
Investment Insights
Based on property information with market context.
This property consists of three duplexes built in 2002, providing a total of six rental units. Five of the six units are currently tenant occupied, offering immediate income potential for a new owner.
Each duplex is described as approximately 2,651 square feet, and each unit features two bedrooms and one bathroom. Units also include a private laundry closet.
The units are located at 1304 Lewis St, 1320 Lewis St, and 1386 Lewis St.
Each duplex is described as approximately 2,651 square feet, and each unit features two bedrooms and one bathroom. Units also include a private laundry closet.
The units are located at 1304 Lewis St, 1320 Lewis St, and 1386 Lewis St.
Key Highlights
- Three duplexes built in 2002 offering 6 total rental units
- Five of the six units are currently tenant occupied
- Each duplex is approximately 2,651 SF
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
$17,509
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
2.92%
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%
$350,180
$350.2K
Cap Rate 7%
$250,129
$250.1K
Cap Rate 9%
$194,544
$194.5K
Market Conditions
NOI Build-Up for 2,651 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
$27.0K $10.20/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$25.0K $9.44/SF
− OpEx
−$7.5K −$2.83/SF
NOI
$17.5K $6.60/SF
Area
Calcasieu County, LA
Vacancy
7.50%
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%
$350,180
Cap Rate 7%
$250,129
Cap Rate 9%
$194,544
Alternative Uses
Best Use
Multifamily LT 5
$250.1K
$218.9K – $291.8K
NOI $17,509 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$221.3K
$193.6K – $258.2K
NOI $15,491 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$571.4K
$500.0K – $666.7K
NOI $40,000 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
83.3%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 70663, LA
29,325
Population
12,767
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
97.8 sq mi
ZIP Area
300
Density / Sq Mi
$59,444
Median Household Income
$37,587
Median Earnings
$914
Median Rent
$174,300
Median Home Value
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 - Three 2002-built duplexes totaling six rental units, with five units currently tenant occupied.
Where is this duplex located?
The property is located at 1304 Lewis Street Sulphur, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three duplexes built in 2002 offering 6 total rental units; Five of the six units are currently tenant occupied; Each duplex is approximately 2,651 SF
