Furnished Townhouse-Style
For Sale
$659,900
151 Dixie, Houma, LA 70363
Residential Income, Houma, LA
Property Size4,951 SF
Lot Size0.34 Acres
Price / SF$133.29
Days on Market337
Property Features for 151 Dixie
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Laundry Room
Parking
8
Parking features
Parking Lot
Patio and Porch features
Patio
Interior features
Electric Stove Con., Walk-In Closet(s)
Appliances
Washer/Dryer All, Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Self Cleaning Oven
Subdivision
Barrow
Elementary school district
Terrebonne Parish
Middle school district
Terrebonne Parish
High school district
Terrebonne Parish
Directions
TRAVEL DOWN GRAND CAILLOU RD. TAKE A LEFT ON DIXIE AVENUE, RIGHT PASSED WALMART SUPERCENTER.
Standard status
Active
Size
4,951 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
LOT 18 BLK 1 BARROW SUBDIVISION
Legal Description
LOT 18 BLK 1 BARROW SUBDIVISION
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Flooring type
Tile - Ceramic, Wood
Building materials
Brick Siding, Vinyl Siding, Brick
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Molly Usie · License #37498
(985) 855-2945
Added: Sep 29, 2025
Changed: Aug 19
Last Checked: Aug 31 at 4:06PM
MLS# 2025018046
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 townhouse-style quadplex contains 4,951 square feet on a 0.34-acre parcel and was built 10 years ago. Each unit has two bedrooms and a full bathroom upstairs, including an oversized walk-in closet. The main level provides an eat-in kitchen with granite countertops, stainless steel appliances, wood and ceramic tile flooring, a half bath, laundry nook, and pantry. Ceiling fans, undermount sinks, total electric systems, and furnished interiors are included, with furniture purchased this year. Appliances include refrigerators, ranges, microwaves, dishwashers, and laundry equipment.
The property is located at 151 Dixie in Houma, just off Grand Caillou Road, among residential and neighborhood commercial properties. It is currently listed on Airbnb, while the layout also supports long-term rental use. Public water and public sewer serve the property, and parking is provided in an on-site lot. The property is in Flood Zone X.
The property is located at 151 Dixie in Houma, just off Grand Caillou Road, among residential and neighborhood commercial properties. It is currently listed on Airbnb, while the layout also supports long-term rental use. Public water and public sewer serve the property, and parking is provided in an on-site lot. The property is in Flood Zone X.
Key Highlights
- 4,951‑square‑foot quadplex on 0.34 acres
- Four townhouse‑style units with two bedrooms and one full bathroom upstairs
- Furnished interiors with furniture purchased this year
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
$37,235
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
5.64%
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%
$744,700
$744.7K
Cap Rate 7%
$531,929
$531.9K
Cap Rate 9%
$413,722
$413.7K
Market Conditions
NOI Build-Up for 4,951 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
$58.2K $11.76/SF
− Vacancy
−$5.0K −$1.02/SF
EGI
$53.2K $10.74/SF
− OpEx
−$16.0K −$3.22/SF
NOI
$37.2K $7.52/SF
Area
Terrebonne County, LA
Vacancy
8.64%
Lease Rate
$11.76 /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%
$744,700
Cap Rate 7%
$531,929
Cap Rate 9%
$413,722
Alternative Uses
Best Use
Multifamily LT 5
$531.9K
$465.4K – $620.6K
NOI $37,235 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$462.5K
$404.7K – $539.6K
NOI $32,376 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,534 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Explore this area
Business Placement
Demographics for 70363, LA
25,319
Population
10,449
Households
2.4
Avg Household Size
36
Median Age
8%
College-Educated
75%
High-School Grad
78.4 sq mi
ZIP Area
323
Density / Sq Mi
$44,828
Median Household Income
$33,176
Median Earnings
$1,054
Median Rent
$143,800
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 furnished townhouse-style units provide two-level layouts, full kitchens, laundry areas, and long- or short-term rental flexibility.
Where is this quadplex located?
The property is located at 151 Dixie Houma, LA.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: 4,951‑square‑foot quadplex on 0.34 acres; Four townhouse‑style units with two bedrooms and one full bathroom upstairs; Furnished interiors with furniture purchased this year
