Income Duplex
For Sale
$350,000
204 East State Street Unit 2, Baton Rouge, LA 70802
Portfolio includes two income-producing duplexes with newer roofs, hardwood floors, and individually metered utilities.
Property Size1,426 SF
Price / SF$245.44
Days on Market87
Property Features for 204 East State Street Unit 2
General Information
Standard status
Active
Size
1,426 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Occupancy
100%
Additional Details
Business Included
Yes
Clear Height
9 ft
Multifamily Units
4
Amenities
Window Unit(s)
Wall Furnace
Ceramic Tile, Wood
Gas Cooktop, Refrigerator
1
Individual Meter
Ceiling 9'+
2
Architec. Shingle
Pillar/Post/Pier
Cement Siding, Frame
Porch
Listing Agency:
Bridgewater Realty Advisors
(225) 931-0943
Listed By:
Perry J Musgrow · License #0000020470
(225) 931-0943
Source:
Compass
Added: May 14
Changed: Aug 8
Last Checked: May 26 at 8:22AM
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 Bridgewater Realty Advisors
Investment Insights
Based on property information with market context.
This for-sale portfolio includes two income-producing duplexes and two additional lots, offered as a multi-property package. The duplex units are described as fully occupied and generating rental income, and both properties feature 9-foot ceilings, hardwood floors, newer roofs, and individually metered utilities intended to support streamlined management.
The package is located near Louisiana State University, with addresses including 204–206 E. State Street (including Unit 2), 226 A&B State Street, and 240 E State Street (lot), as well as a parcel in between the properties. The offering also includes additional land intended to support expansion or future multi-unit development.
All information is believed to be accurate but is not guaranteed. Measurements, occupancy status, zoning, lot dimensions, and other details are approximate and should be independently verified by the purchaser.
The package is located near Louisiana State University, with addresses including 204–206 E. State Street (including Unit 2), 226 A&B State Street, and 240 E State Street (lot), as well as a parcel in between the properties. The offering also includes additional land intended to support expansion or future multi-unit development.
All information is believed to be accurate but is not guaranteed. Measurements, occupancy status, zoning, lot dimensions, and other details are approximate and should be independently verified by the purchaser.
Key Highlights
- Portfolio includes two income‑producing duplexes (fully occupied) plus two additional lots
- Each duplex features 9‑foot ceilings, ceramic tile and wood flooring, and a porch
- Newer roofs reported on the duplexes; architecture includes 2 stories with cement siding and frame construction
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
$14,721
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
4.21%
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%
$294,420
$294.4K
Cap Rate 7%
$210,300
$210.3K
Cap Rate 9%
$163,567
$163.6K
Market Conditions
NOI Build-Up for 1,426 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
$22.1K $15.48/SF
− Vacancy
−$1.0K −$0.73/SF
EGI
$21.0K $14.75/SF
− OpEx
−$6.3K −$4.42/SF
NOI
$14.7K $10.32/SF
Area
Baton Rouge, LA
Vacancy
4.73%
Lease Rate
$15.48 /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%
$294,420
Cap Rate 7%
$210,300
Cap Rate 9%
$163,567
Alternative Uses
Best Use
Multifamily LT 5
$210.3K
$184.0K – $245.4K
NOI $14,721 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$186.5K
$163.2K – $217.6K
NOI $13,057 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$341.5K
$298.8K – $398.4K
NOI $23,906 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9 ft
Clear height
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
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?
Duplex - Portfolio includes two income-producing duplexes with newer roofs, hardwood floors, and individually metered utilities.
Where is this duplex located?
The property is located at 204 East State Street Unit 2 Baton Rouge, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Portfolio includes two income‑producing duplexes (fully occupied) plus two additional lots; Each duplex features 9‑foot ceilings, ceramic tile and wood flooring, and a porch; Newer roofs reported on the duplexes; architecture includes 2 stories with cement siding and frame construction
