Four-Home Residential Income
For Sale
$180,000
135 Whitney Street, Lafayette, LA 70501
MULTI_FAMILY - Lafayette, LA
Property Size960 SF
Lot Size0.23 Acres
Price / SF$187.50
Days on Market155
Property Features for 135 Whitney Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
11
Full bathrooms
5
Rooms
Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 8, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 10, Bathroom 5, Bedroom 1, Bathroom 2, Bedroom 11, Bathroom 3, Bedroom 9
Parking features
None
Interior features
Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection, Gas Dryer Connection, Gas Stove Connection
Fencing
Chain Link
Subdivision
Dugas Addition
Lot features
Level
Elementary school
Boucher
Middle school
Paul Breaux Middle
High school
Northside
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
Take University North, right on Willow, left on Patterson (at 3rd red light), right at Whitney. House is located on the right.
Standard status
Active
APN
6154003
Size
960 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
N P Lot 9 Dugas Subdivision (0.051ac),LOTS 11 12 & 2.85 FT LT 13 BLK 11 MUDD ADDITION,1 LOT 11 (51.8X131.7) BLK 3 BERCIER & LEWIS ADD 1 LOT E/2 OF LOT 10 (25.5X131.7) BLK 3 BERCIER & LEWIS ADD 1180403, 1 LOT 14 (50X150) BLK C GARLAND ADD PLAT B N LOT 4 S
Legal Description
N P Lot 9 Dugas Subdivision (0.051ac),LOTS 11 12 & 2.85 FT LT 13 BLK 11 MUDD ADDITION,1 LOT 11 (51.8X131.7) BLK 3 BERCIER & LEWIS ADD 1 LOT E/2 OF LOT 10 (25.5X131.7) BLK 3 BERCIER & LEWIS ADD 1180403, 1 LOT 14 (50X150) BLK C GARLAND ADD PLAT B N LOT 4 S
Utilities
Heating system
Central, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Floors in Building
1
Number of units
4
Flooring type
Wood, Laminate
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
NextHome Cutting Edge Realty
(337) 484-1184
Listed By:
Jarrid Boudreaux · License #995707307
(337) 356-4212
Added: Mar 31
Changed: Jul 25
Last Checked: Sep 1 at 1:06AM
MLS# 2600002728
Copyright © 2026 Realtor Association of Acadiana. 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 residential income package consists of four single-family homes offered together. According to the seller’s remarks, two of the properties are currently leased, while the remaining two are vacant and available for renovation.
The listing is associated with an address at 135 Whitney Street in Lafayette, Louisiana, and includes homes in both Lafayette and Opelousas as part of the four-property package.
The total property size is listed as 960 square feet, and the lot size is listed as 0.23 acres. This offering is structured as a multi-property deal for buyers seeking additional residential rental inventory in one transaction.
The listing is associated with an address at 135 Whitney Street in Lafayette, Louisiana, and includes homes in both Lafayette and Opelousas as part of the four-property package.
The total property size is listed as 960 square feet, and the lot size is listed as 0.23 acres. This offering is structured as a multi-property deal for buyers seeking additional residential rental inventory in one transaction.
Key Highlights
- Package includes four homes across two markets: two in Lafayette and two in Opelousas
- Two properties are currently leased, providing rental income, and two properties are vacant and ready for renovation
- Wood siding exterior and composition roof
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
$8,139
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
4.52%
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%
$162,780
$162.8K
Cap Rate 7%
$116,271
$116.3K
Cap Rate 9%
$90,433
$90.4K
Market Conditions
NOI Build-Up for 960 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
$20.2K $21.00/SF
− Vacancy
−$5.4K −$5.59/SF
EGI
$14.8K $15.41/SF
− OpEx
−$6.7K −$6.94/SF
NOI
$8.1K $8.48/SF
Area
Lafayette, LA
Vacancy
26.60%
Lease Rate
$21.00 /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%
$162,780
Cap Rate 7%
$116,271
Cap Rate 9%
$90,433
Alternative Uses
Best Use
Apartment 5plus
$116.3K
$101.7K – $135.7K
NOI $8,139 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$227.0K
$198.6K – $264.8K
NOI $15,888 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Package includes four single-family homes, with two currently leased and two vacant and ready for renovation.
Where is this single family property located?
The property is located at 135 Whitney Street Lafayette, LA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Package includes four homes across two markets: two in Lafayette and two in Opelousas; Two properties are currently leased, providing rental income, and two properties are vacant and ready for renovation; Wood siding exterior and composition roof
