Duplex with Covered
For Sale
$170,000
3237 /3241 Cedar St, Lake Charles, LA 70615
Two-bedroom units with covered vehicle parking, detached laundry and storage space, and mixed residential zoning.
Property Size1,732 SF
Lot Size0.33 Acres
Price / SF$98.15
Days on Market42
Property Features for 3237 /3241 Cedar St
General Information
Standard status
Active
Size
1,732 SF
Lot size
0.33 Acres
Property subtype
Multi-Family
Zoning
Mixed Residential
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
covered parking
laundry and storage
Building Details
Year Built
1975
Buildings
1
Listing Agency:
Coldwell Banker Ingle Safari R
(337) 274-5684
Listed By:
Steve Floyd · License #41445
Source:
Athomerealtyla
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 6:45PM
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 Coldwell Banker Ingle Safari R
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. The property totals 1,732 square feet, with approximately 866 square feet per unit, and was built in 1975. Covered vehicle parking serves the property, while a detached exterior structure provides washer and dryer space along with storage. Window units provide heating and cooling, and the shingled roof is less than 5 years old.
Located in Lake Charles, Louisiana, the property sits on approximately 0.33 acres at 3237 /3241 Cedar St. Mixed Residential zoning and Flood Zone X are noted for the site. A second duplex on the adjoining parcel is also available under listing SWL26001012.
Located in Lake Charles, Louisiana, the property sits on approximately 0.33 acres at 3237 /3241 Cedar St. Mixed Residential zoning and Flood Zone X are noted for the site. A second duplex on the adjoining parcel is also available under listing SWL26001012.
Key Highlights
- Two‑unit duplex totaling 1,732 square feet
- Each unit includes 2 bedrooms, 1 bathroom, and approximately 866 square feet
- Approximately .33 acres with Mixed Residential zoning
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
$11,439
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
6.73%
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%
$228,780
$228.8K
Cap Rate 7%
$163,414
$163.4K
Cap Rate 9%
$127,100
$127.1K
Market Conditions
NOI Build-Up for 1,732 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
$17.7K $10.20/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$16.3K $9.44/SF
− OpEx
−$4.9K −$2.83/SF
NOI
$11.4K $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%
$228,780
Cap Rate 7%
$163,414
Cap Rate 9%
$127,100
Alternative Uses
Best Use
Multifamily LT 5
$163.4K
$143.0K – $190.7K
NOI $11,439 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$144.6K
$126.5K – $168.7K
NOI $10,121 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$373.3K
$326.7K – $435.6K
NOI $26,133 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 70615, LA
14,949
Population
5,498
Households
2.7
Avg Household Size
36
Median Age
15%
College-Educated
84%
High-School Grad
45.9 sq mi
ZIP Area
326
Density / Sq Mi
$43,333
Median Household Income
$30,086
Median Earnings
$1,095
Median Rent
$128,500
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-bedroom units with covered vehicle parking, detached laundry and storage space, and mixed residential zoning.
Where is this duplex located?
The property is located at 3237 /3241 Cedar St Lake Charles, LA.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,732 square feet; Each unit includes 2 bedrooms, 1 bathroom, and approximately 866 square feet; Approximately .33 acres with Mixed Residential zoning
