Updated Four-Unit
For Sale
$225,000
2389 Tennessee Street, Baton Rouge, LA 70802
Four one-bedroom units feature open-plan interiors, kitchens, and living areas in a residential income property near LSU.
Property Size1,703 SF
Price / SF$132.12
Days on Market183
Property Features for 2389 Tennessee Street
General Information
Standard status
Active
Size
1,703 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Amenities
Window Unit(s)
Wall Furnace
Range/Oven, Refrigerator
1
Asphalt
2
Slab: Traditional
Brick
Building Details
Buildings
1
Listing Agency:
Boyd Realtors, LLC
Listed By:
Amberly Pierre · License #995694127
(504) 416-5311
Source:
Compass
Added: Mar 6
Changed: Sep 3
Last Checked: Sep 4 at 3:43PM
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 Boyd Realtors, LLC
Investment Insights
Based on property information with market context.
This four-unit residential property includes one-bedroom units with open-plan interiors, kitchen areas, and living rooms. Recent improvements include new vinyl plank flooring, roofing, windows, electrical work, and plumbing. Brick exterior construction, an asphalt surface, and a traditional slab foundation are also noted. Window-unit cooling and other heat serve the building.
The property is located at 2389 Tennessee Street in Baton Rouge, Louisiana, with proximity to LSU. Its four-unit configuration and one-bedroom layouts provide a straightforward multifamily format for residential occupancy and rental use.
The property is located at 2389 Tennessee Street in Baton Rouge, Louisiana, with proximity to LSU. Its four-unit configuration and one-bedroom layouts provide a straightforward multifamily format for residential occupancy and rental use.
Key Highlights
- Four‑unit quadplex with one‑bedroom layouts
- New vinyl plank flooring, roof, windows, electrical, and plumbing
- Open‑plan interiors with kitchen and living room areas
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
$17,581
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
7.81%
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%
$351,620
$351.6K
Cap Rate 7%
$251,157
$251.2K
Cap Rate 9%
$195,344
$195.3K
Market Conditions
NOI Build-Up for 1,703 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
$26.4K $15.48/SF
− Vacancy
−$1.2K −$0.73/SF
EGI
$25.1K $14.75/SF
− OpEx
−$7.5K −$4.42/SF
NOI
$17.6K $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%
$351,620
Cap Rate 7%
$251,157
Cap Rate 9%
$195,344
Alternative Uses
Best Use
Multifamily LT 5
$251.2K
$219.8K – $293.0K
NOI $17,581 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$222.8K
$194.9K – $259.9K
NOI $15,593 @ 7.0% cap · market cap 6.93%
Theoretical Best
Specialty Retail
$407.9K
$356.9K – $475.8K
NOI $28,550 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
409
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?
Quadplex - Four one-bedroom units feature open-plan interiors, kitchens, and living areas in a residential income property near LSU.
Where is this quadplex located?
The property is located at 2389 Tennessee Street Baton Rouge, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Four‑unit quadplex with one‑bedroom layouts; New vinyl plank flooring, roof, windows, electrical, and plumbing; Open‑plan interiors with kitchen and living room areas
