Renovated Duplex with Private
New
For Sale
$225,000
13024 Hodges Ln, Walker, LA 70785
Two residential units offer independent access, individual electrical metering, and central heating and cooling.
Property Size1,829 SF
Price / SF$123.02
Days on Market4
Property Features for 13024 Hodges Ln
General Information
Standard status
Active
Size
1,829 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
9ft ceilings
central air and heat
private entrance
Listing Agency:
Clyde Palmer Real Estate, LLC
(225) 954-0493
Listed By:
Lynn Sibley · License #0000010321
Source:
Larry.agent225
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 8 at 8:14AM
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 Clyde Palmer Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,829 square feet. Each unit has its own private entrance and separate electrical meter, supporting independent access and utility tracking. Both residences feature 9-foot ceilings throughout along with central air conditioning and heat.
Major building systems were updated in 2007, including the electrical and plumbing systems. A metal roof was also added that year. The property is located at 13024 Hodges Ln in Walker, Louisiana, providing a defined two-unit configuration with durable exterior improvements and separately metered residences.
Major building systems were updated in 2007, including the electrical and plumbing systems. A metal roof was also added that year. The property is located at 13024 Hodges Ln in Walker, Louisiana, providing a defined two-unit configuration with durable exterior improvements and separately metered residences.
Key Highlights
- Two‑unit duplex totaling 1,829 square feet
- Electrical and plumbing systems redone in 2007
- Metal roof installed in 2007
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
$18,882
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
8.39%
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%
$377,640
$377.6K
Cap Rate 7%
$269,743
$269.7K
Cap Rate 9%
$209,800
$209.8K
Market Conditions
NOI Build-Up for 1,829 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
$28.3K $15.48/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$27.0K $14.75/SF
− OpEx
−$8.1K −$4.42/SF
NOI
$18.9K $10.32/SF
Area
Livingston County, LA
Vacancy
4.73%
Lease Rate
$15.48 /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%
$377,640
Cap Rate 7%
$269,743
Cap Rate 9%
$209,800
Alternative Uses
Best Use
Multifamily LT 5
$269.7K
$236.0K – $314.7K
NOI $18,882 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$239.2K
$209.3K – $279.1K
NOI $16,747 @ 7.0% cap · market cap 7.44%
Theoretical Best
Specialty Retail
$438.0K
$383.3K – $511.0K
NOI $30,662 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 70785, LA
22,569
Population
8,555
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
88%
High-School Grad
93.3 sq mi
ZIP Area
242
Density / Sq Mi
$84,551
Median Household Income
$52,025
Median Earnings
$1,059
Median Rent
$235,100
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 - Two residential units offer independent access, individual electrical metering, and central heating and cooling.
Where is this duplex located?
The property is located at 13024 Hodges Ln Walker, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,829 square feet; Electrical and plumbing systems redone in 2007; Metal roof installed in 2007
