Duplex With Fenced
For Sale
$189,000
222 Ryder Drive, Lafayette, LA 70508
MULTI_FAMILY - Lafayette, LA
Property Size2,052 SF
Lot Size0.11 Acres
Price / SF$92.11
Days on Market93
Property Features for 222 Ryder Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1
Parking
4
Parking features
Parking Lot
Interior features
Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection
Fencing
Chain Link
Appliances
Refrigerator, Electric Range
Subdivision
Paige Place
Lot features
Level
Elementary school
Drexel
Middle school
Broussard
High school
Comeaux
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
Heading South on Youngsville Hwy, turn left on Nector Haven, then right onto Ryder Dr.
Standard status
Active
APN
6038394
Size
2,052 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT 2-B HOLIDAY TOWN HOMES SEC 60 T10S R5E (37.5X125)
Legal Description
LOT 2-B HOLIDAY TOWN HOMES SEC 60 T10S R5E (37.5X125)
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer connections
private fenced backyard
Building Details
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Composition
Listing Agency:
ICON Real Estate Co
(337) 534-4099
Listed By:
Jenny Hale · License #995712583
(337) 278-6728
Added: Jun 8
Changed: Aug 13
Last Checked: Sep 8 at 3:06AM
MLS# 2600005068
Copyright © 2026 Realtor Association of Acadiana. 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 duplex contains 2,052 square feet with two residences, each configured with two bedrooms and one-and-a-half bathrooms. Both units include electric washer and dryer connections, refrigerator, and electric range, while central heating and cooling support year-round comfort. Private chain-link-enclosed backyards provide separate outdoor areas for each residence. The exterior is currently being painted, and the building features brick construction with a composition roof.
The property is situated off Highway 89 in Lafayette, near employment opportunities along the Energy Corridor. Costco, Target, major retailers, and grocery stores are within five minutes. Public LUS water and sewer service and SLEMCO electricity serve the property. A parking lot provides on-site parking, and long-term tenants are in place.
The property is situated off Highway 89 in Lafayette, near employment opportunities along the Energy Corridor. Costco, Target, major retailers, and grocery stores are within five minutes. Public LUS water and sewer service and SLEMCO electricity serve the property. A parking lot provides on-site parking, and long-term tenants are in place.
Key Highlights
- Two‑unit duplex totaling 2,052 square feet
- Each unit includes 2 bedrooms and 1.5 bathrooms
- Private fenced backyard provided for both residences
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
$17,396
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
9.20%
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%
$347,920
$347.9K
Cap Rate 7%
$248,514
$248.5K
Cap Rate 9%
$193,289
$193.3K
Market Conditions
NOI Build-Up for 2,052 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
$43.1K $21.00/SF
− Vacancy
−$11.5K −$5.59/SF
EGI
$31.6K $15.41/SF
− OpEx
−$14.2K −$6.94/SF
NOI
$17.4K $8.48/SF
Area
Lafayette, LA
Vacancy
26.60%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
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%
$347,920
Cap Rate 7%
$248,514
Cap Rate 9%
$193,289
Alternative Uses
Best Use
Multifamily LT 5
$274.2K
$239.9K – $319.9K
NOI $19,193 @ 7.0% cap · market cap 10.16%
Second Best
Apartment 5plus
$248.5K
$217.5K – $289.9K
NOI $17,396 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$485.2K
$424.5K – $566.0K
NOI $33,961 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
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 - Each residence offers two bedrooms, one-and-a-half bathrooms, laundry connections, and included appliances.
Where is this duplex located?
The property is located at 222 Ryder Drive Lafayette, LA.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,052 square feet; Each unit includes 2 bedrooms and 1.5 bathrooms; Private fenced backyard provided for both residences
