Brick Fourplex with Occupied
For Sale
$220,000
Pending
1306 Lee Ave, Houma, LA 70360
Four one-bedroom, one-bath residences provide an established occupancy profile.
Property Size2,931 SF
Days on Market54
Property Features for 1306 Lee Ave
General Information
Standard status
Pending
Size
2,931 SF
Property subtype
Multi-Family
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 226-8086
Listed By:
Lexi Neil · License #995713937
Source:
Smithsquared
Added: Jul 10
Changed: Aug 31
Last Checked: Aug 31 at 6:25PM
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 KELLER WILLIAMS REALTY BAYOU P
Investment Insights
Based on property information with market context.
This 2,931-square-foot quadplex contains four one-bedroom, one-bath units, each currently occupied by a tenant. The building has a brick exterior, while metal stairs provide access to the upper residences.
Located at 1306 Lee Ave in Houma, Louisiana, the property offers a compact multifamily configuration with established occupancy and durable exterior construction. Its four-unit layout provides a straightforward income-property format for ownership and management.
Located at 1306 Lee Ave in Houma, Louisiana, the property offers a compact multifamily configuration with established occupancy and durable exterior construction. Its four-unit layout provides a straightforward income-property format for ownership and management.
Key Highlights
- Four one‑bedroom, one‑bath units
- 2,931 SF quadplex
- All units currently tenant‑occupied
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
$19,167
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
8.71%
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%
$383,340
$383.3K
Cap Rate 7%
$273,814
$273.8K
Cap Rate 9%
$212,967
$213.0K
Market Conditions
NOI Build-Up for 2,931 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
$38.3K $13.08/SF
− Vacancy
−$3.5K −$1.19/SF
EGI
$34.8K $11.89/SF
− OpEx
−$15.7K −$5.35/SF
NOI
$19.2K $6.54/SF
Area
Terrebonne County, LA
Vacancy
9.10%
Lease Rate
$13.08 /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%
$383,340
Cap Rate 7%
$273,814
Cap Rate 9%
$212,967
Alternative Uses
Best Use
Multifamily LT 5
$314.9K
$275.5K – $367.4K
NOI $22,043 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$273.8K
$239.6K – $319.5K
NOI $19,167 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$808.0K
$707.0K – $942.6K
NOI $56,557 @ 7.0% cap · market cap 25.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
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?
Quadplex - Four one-bedroom, one-bath residences provide an established occupancy profile.
Where is this quadplex located?
The property is located at 1306 Lee Ave Houma, LA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 2,931 SF quadplex; All units currently tenant‑occupied
