Renovated Duplex with
New
For Sale
$374,900
2103 Government St, Baton Rouge, LA 70806
Two-level income property with updated kitchens, separate HVAC systems, shared laundry, and commercial-use zoning.
Property Size2,499 SF
Price / SF$150.02
Days on Market2
Property Features for 2103 Government St
General Information
Standard status
Active
Size
2,499 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
shared laundry room
Building Details
Year Renovated
2024
Buildings
1
Stories
2
Listing Agency:
Compass - Perkins
Listed By:
Kim Blanchard · License #0995689268
(225) 772-3443
Source:
Larry.agent225
Added: Sep 5
Last Checked: Sep 5 at 2:43PM
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 Compass - Perkins
Investment Insights
Based on property information with market context.
This two-level duplex contains two separate two-bedroom, one-bathroom residences. Both units include renovated kitchens with granite countertops and stainless steel appliances, while the ground-floor kitchen also has a 5-burner gas stove and the upper unit includes an electric stove. Interior features include walk-in showers, marble-counter vanity tops, decorative fireplace detailing, and extensive window exposure. The upper residence adds a side balcony, and both units connect to a shared laundry and mud area on the ground level.
Renovation work was completed during 2023-2024, including a roof replacement in 2023, two HVAC system installations in 2024, and a tankless water heater installed in 2024. The property provides parking for 4+ cars at the front and 4+ cars at the rear. Located at 2103 Government St in Baton Rouge, the property is described as zoned for commercial use as well as residential use.
Renovation work was completed during 2023-2024, including a roof replacement in 2023, two HVAC system installations in 2024, and a tankless water heater installed in 2024. The property provides parking for 4+ cars at the front and 4+ cars at the rear. Located at 2103 Government St in Baton Rouge, the property is described as zoned for commercial use as well as residential use.
Key Highlights
- Two‑level duplex with two 2‑bedroom, 1‑bath units
- Renovated during 2023‑2024
- Roof replaced in 2023
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
$25,798
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
6.88%
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%
$515,960
$516.0K
Cap Rate 7%
$368,543
$368.5K
Cap Rate 9%
$286,644
$286.6K
Market Conditions
NOI Build-Up for 2,499 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
$38.7K $15.48/SF
− Vacancy
−$1.8K −$0.73/SF
EGI
$36.9K $14.75/SF
− OpEx
−$11.1K −$4.42/SF
NOI
$25.8K $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%
$515,960
Cap Rate 7%
$368,543
Cap Rate 9%
$286,644
Alternative Uses
Best Use
Multifamily LT 5
$368.5K
$322.5K – $430.0K
NOI $25,798 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$326.9K
$286.0K – $381.4K
NOI $22,881 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$598.5K
$523.7K – $698.2K
NOI $41,894 @ 7.0% cap · market cap 11.17%
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
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 70806, LA
27,898
Population
14,972
Households
1.9
Avg Household Size
37
Median Age
40%
College-Educated
90%
High-School Grad
8.9 sq mi
ZIP Area
3,135
Density / Sq Mi
$53,430
Median Household Income
$41,894
Median Earnings
$1,014
Median Rent
$321,400
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-level income property with updated kitchens, separate HVAC systems, shared laundry, and commercial-use zoning.
Where is this duplex located?
The property is located at 2103 Government St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Two‑level duplex with two 2‑bedroom, 1‑bath units; Renovated during 2023‑2024; Roof replaced in 2023
