Historic 4-Unit
New
For Sale
$750,000
2211 Tulip St, Baton Rouge, LA 70806
Fully occupied historic multifamily property with transferable leases and rear parking.
Property Size4,850 SF
Price / SF$154.64
Days on Market6
Property Features for 2211 Tulip St
General Information
Standard status
Active
Size
4,850 SF
Property subtype
Residential Income
Listing Agency:
Cascio Realty LLC
(225) 302-1199
Listed By:
Jay Cascio
(225) 302-1199
Source:
Exprealty
Added: Aug 27
Changed: Aug 30
Last Checked: Aug 31 at 5:59PM
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 Cascio Realty LLC
Investment Insights
Based on property information with market context.
This 4,850-square-foot quadplex contains four two-bedroom, one-bath residences and is currently 100% occupied. The property includes 10 rear parking spaces, and all existing leases will transfer to the new owner.
Constructed in 1941, the building was designed by A. Hayes Town in a classic American Colonial/Georgian architectural style. The property is recognized by the Foundation of Historical Louisiana. Prospective buyers may inspect the property after an offer has been accepted to minimize disruption for residents.
Constructed in 1941, the building was designed by A. Hayes Town in a classic American Colonial/Georgian architectural style. The property is recognized by the Foundation of Historical Louisiana. Prospective buyers may inspect the property after an offer has been accepted to minimize disruption for residents.
Key Highlights
- Four two‑bedroom, one‑bath units
- 4,850‑square‑foot building constructed in 1941
- 100% occupied with leases transferring to the new owner
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
$50,069
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
6.68%
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%
$1,001,380
$1.0M
Cap Rate 7%
$715,271
$715.3K
Cap Rate 9%
$556,322
$556.3K
Market Conditions
NOI Build-Up for 4,850 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
$75.1K $15.48/SF
− Vacancy
−$3.6K −$0.73/SF
EGI
$71.5K $14.75/SF
− OpEx
−$21.5K −$4.42/SF
NOI
$50.1K $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%
$1,001,380
Cap Rate 7%
$715,271
Cap Rate 9%
$556,322
Alternative Uses
Best Use
Multifamily LT 5
$715.3K
$625.9K – $834.5K
NOI $50,069 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$634.4K
$555.1K – $740.1K
NOI $44,407 @ 7.0% cap · market cap 5.92%
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.36M
NOI $81,307 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied historic multifamily property with transferable leases and rear parking.
Where is this quadplex located?
The property is located at 2211 Tulip St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath units; 4,850‑square‑foot building constructed in 1941; 100% occupied with leases transferring to the new owner
