Brick Quadplex with Tenant-Occupied
For Sale
$220,000
Pending
1306 Lee Ave, Houma, LA 70360
MULTI_FAMILY - Houma, LA
Property Size2,931 SF
Lot Size0.10 Acres
Days on Market119
Property Features for 1306 Lee Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
4
Appliances
Electric Cooktop, Refrigerator
Subdivision
Celestine
Elementary school district
Terrebonne Parish
Middle school district
Terrebonne Parish
High school district
Terrebonne Parish
Standard status
Pending
Size
2,931 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
LOT 4 BLOCK 107 LEE AVENUE, DASPIT ADDITION.
Legal Description
LOT 4 BLOCK 107 LEE AVENUE, DASPIT ADDITION.
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Building materials
Brick Siding, Brick, Frame
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Lexi Neil · License #995713937
(985) 226-8086
Added: Apr 15
Changed: Jul 31
Last Checked: Aug 11 at 7:06PM
MLS# 2026006808
Copyright © 2026 Bayou Board of Realtors. 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 brick quadplex includes four tenant-occupied units, each configured as a 1-bedroom, 1-bath. Metal stair access services the upper units, supporting low-maintenance ownership. The property is improved with window unit cooling and a shingle roof, and units are equipped with an electric cooktop and refrigerator. Construction materials include brick siding, brick, and frame elements.
Set on a 0.1-acre lot at 1306 Lee Ave in Houma, LA (Terrebonne County), the property is connected to public water and public sewer.
The existing tenant-occupied setup supports immediate occupancy, while the repeatable 1-bedroom, 1-bath unit design may simplify leasing and tenant turnover.
Set on a 0.1-acre lot at 1306 Lee Ave in Houma, LA (Terrebonne County), the property is connected to public water and public sewer.
The existing tenant-occupied setup supports immediate occupancy, while the repeatable 1-bedroom, 1-bath unit design may simplify leasing and tenant turnover.
Key Highlights
- Four tenant‑occupied units configured as 1‑bedroom, 1‑bath
- Brick quadplex with metal stair access to upper units
- 0.1‑acre lot at 1306 Lee Ave, Houma, LA
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
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,475
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 - Brick quadplex on public water and sewer, with tenant-occupied 1-bedroom, 1-bath units and metal stairs to upper levels.
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 tenant‑occupied units configured as 1‑bedroom, 1‑bath; Brick quadplex with metal stair access to upper units; 0.1‑acre lot at 1306 Lee Ave, Houma, LA
