Duplex with Covered Front
For Sale
$115,000
823 13th Street, Alexandria, LA 71301
Two-apartment property with central air, open living areas, and four dedicated parking spaces.
Property Size1,059 SF
Price / SF$108.59
Days on Market724
Property Features for 823 13th Street
General Information
Standard status
Active
Size
1,059 SF
Total Parking Spaces
4
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Occupancy
100%
Units
Multifamily Units
2
Parking per Unit
2
Amenities
Central Air
Central
1
2
4
Asphalt
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Johnson & Johnson Realty of Cenla, LLC
Listed By:
CATRICE JOHNSON · License #995707742
(318) 229-8082
Source:
Compass
Added: Sep 12, 2024
Changed: Aug 31
Last Checked: Aug 29 at 2:36PM
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 Johnson & Johnson Realty of Cenla, LLC
Investment Insights
Based on property information with market context.
This duplex in Alexandria includes two apartments with a cottage-style presentation, wood siding, and a covered front porch supported by pillars or posts. The described interior layout includes two bedrooms, one bathroom, a spacious kitchen, laundry room, bonus room, and an open connection between the living and kitchen areas. The property has been partially renovated and includes central air and central heating.
Four asphalt parking spaces are provided at the rear, with two assigned to each apartment. Both apartments are currently rented. Built in 1950, the property is located at 823 13th Street in Alexandria, Louisiana.
Four asphalt parking spaces are provided at the rear, with two assigned to each apartment. Both apartments are currently rented. Built in 1950, the property is located at 823 13th Street in Alexandria, Louisiana.
Key Highlights
- Two‑apartment duplex with both apartments currently rented
- 2 bedrooms, 1 bathroom, kitchen, laundry room, and bonus room
- Open living and kitchen arrangement
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
$8,858
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
7.70%
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%
$177,160
$177.2K
Cap Rate 7%
$126,543
$126.5K
Cap Rate 9%
$98,422
$98.4K
Market Conditions
NOI Build-Up for 1,059 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
$13.9K $13.08/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$12.7K $11.95/SF
− OpEx
−$3.8K −$3.58/SF
NOI
$8.9K $8.36/SF
Area
Rapides County, LA
Vacancy
8.64%
Lease Rate
$13.08 /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%
$177,160
Cap Rate 7%
$126,543
Cap Rate 9%
$98,422
Alternative Uses
Best Use
Multifamily LT 5
$126.5K
$110.7K – $147.6K
NOI $8,858 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$112.5K
$98.5K – $131.3K
NOI $7,878 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$291.9K
$255.4K – $340.6K
NOI $20,434 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,173
Businesses Nearby
Explore this area
Business Placement
Demographics for 71301, LA
20,454
Population
9,173
Households
2.2
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
12.5 sq mi
ZIP Area
1,636
Density / Sq Mi
$44,330
Median Household Income
$31,233
Median Earnings
$919
Median Rent
$156,700
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-apartment property with central air, open living areas, and four dedicated parking spaces.
Where is this duplex located?
The property is located at 823 13th Street Alexandria, LA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Two‑apartment duplex with both apartments currently rented; 2 bedrooms, 1 bathroom, kitchen, laundry room, and bonus room; Open living and kitchen arrangement
