Two-Story Fourplex
205 Neptune Morgan City, LA 70380
205 Neptune, Morgan City, LA, 70380
$309,900
For Sale
$309,900
MULTI_FAMILY - Other - Morgan City, LA
Property Size3,072 SF
Lot Size0.24 Acres
Price / SF$100.88
Days on Market149
Property Features for 205 Neptune
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bedroom 3, Bedroom 5, Laundry Room, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 2, Bathroom 3, Bedroom 6, Bathroom 4, Bedroom 4, Bedroom 1
- Parking features
- Driveway
- Standard status
- Active
- APN
- 2984321195.00
- Size
- 3,072 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2274
Utilities
- Heating system
- Electric (Heating), Forced Air
- Water source
- Public
Building Details
- Year built
- 2005
- Floors in Building
- 2
- Flooring type
- Laminate
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency
Associates of Preferred Realty
(985) 399-1414
1234 David Dr. Ste. 204, Morgan City, LA
Listed by
Ryan Lipari
(985) 399-1414
Added: Feb 18 Checked: Jul 17 at 9:06 am
MLS# 11857640
Listing URL
Copyright © 2026 My State MLS. 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 well-maintained two-story fourplex includes four units configured with two bedrooms, one bath, a kitchen, a living room, and a utility room. The two downstairs units have living space identified as 720 square feet each, and the two upstairs units have living space identified as 816 square feet each.
The property is located at 205 Neptune in Morgan City, Louisiana, in Saint Mary Parish. Tenant-paid utilities are noted in the offering, and all measurements and the flood zone are stated to require buyer verification.
The listing also notes the lot is deep enough to potentially add a duplex behind the existing fourplex, creating an opportunity to increase future income potential, subject to applicable approvals and buyer verification.
The property is located at 205 Neptune in Morgan City, Louisiana, in Saint Mary Parish. Tenant-paid utilities are noted in the offering, and all measurements and the flood zone are stated to require buyer verification.
The listing also notes the lot is deep enough to potentially add a duplex behind the existing fourplex, creating an opportunity to increase future income potential, subject to applicable approvals and buyer verification.
Key Highlights
- Four‑plex, 2‑story building built in 2005
- Unit layout: 4 units total with bedrooms and bathrooms listed per unit (Bed 1–8; Bath 1–4), plus a laundry room
- Two units with 720 SF living space and two units with 816 SF living space
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.6k | $9.00 |
| − Vacancy | −$2.1k | −$0.68 |
| EGI | $25.6k | $8.33 |
| − OpEx | −$7.7k | −$2.50 |
| NOI | $17.9k | $5.83 |
3,072 SF · lease $9.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$255.7K
$223.8K – $298.4K
NOI $17,902 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$229.5K
$200.8K – $267.7K
NOI $16,062 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$524.1K
$458.6K – $611.5K
NOI $36,690 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained two-story fourplex with four two-bedroom units, each with kitchen, living room, and utility room.
Where is this quadplex located?
The property is located at 205 Neptune Morgan City, LA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Four‑plex, 2‑story building built in 2005; Unit layout: 4 units total with bedrooms and bathrooms listed per unit (Bed 1–8; Bath 1–4), plus a laundry room; Two units with 720 SF living space and two units with 816 SF living space
