Renovated Tenant-Occupied
For Sale
$150,000
2702-2704 Iroquois St, Baton Rouge, LA 70805
Two leased units offer a two-bedroom layout alongside a one-bedroom layout.
Property Size1,315 SF
Price / SF$114.07
Days on Market27
Property Features for 2702-2704 Iroquois St
General Information
Standard status
Active
Size
1,315 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Listing Agency:
eXp Realty
(225) 412-9982
Listed By:
Gwen Le
Source:
Smithsquared
Added: Aug 2
Changed: Aug 27
Last Checked: Aug 28 at 12:44PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 2702-2704 Iroquois St in Baton Rouge, this 1,315-square-foot duplex has undergone renovation and includes two residential units. The property is fully tenant-occupied, with both leases in place at the time of listing.
The unit mix consists of one two-bedroom, one-bath residence and one one-bedroom, one-bath residence. The property is designated Flood Zone X. Showings require a scheduled appointment, and tenants should not be disturbed.
The unit mix consists of one two-bedroom, one-bath residence and one one-bedroom, one-bath residence. The property is designated Flood Zone X. Showings require a scheduled appointment, and tenants should not be disturbed.
Key Highlights
- Renovated 1,315‑square‑foot duplex
- Two tenant‑occupied units with leases in place
- Unit mix includes 2BR/1BA and 1BR/1BA 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
$13,575
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
9.05%
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%
$271,500
$271.5K
Cap Rate 7%
$193,929
$193.9K
Cap Rate 9%
$150,833
$150.8K
Market Conditions
NOI Build-Up for 1,315 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
$20.4K $15.48/SF
− Vacancy
−$963 −$0.73/SF
EGI
$19.4K $14.75/SF
− OpEx
−$5.8K −$4.42/SF
NOI
$13.6K $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%
$271,500
Cap Rate 7%
$193,929
Cap Rate 9%
$150,833
Alternative Uses
Best Use
Multifamily LT 5
$193.9K
$169.7K – $226.3K
NOI $13,575 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$172.0K
$150.5K – $200.7K
NOI $12,040 @ 7.0% cap · market cap 8.03%
Theoretical Best
Specialty Retail
$314.9K
$275.6K – $367.4K
NOI $22,045 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 70805, LA
26,025
Population
11,502
Households
2.3
Avg Household Size
34
Median Age
11%
College-Educated
72%
High-School Grad
11.4 sq mi
ZIP Area
2,283
Density / Sq Mi
$26,301
Median Household Income
$24,287
Median Earnings
$833
Median Rent
$103,100
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?
Duplex - Two leased units offer a two-bedroom layout alongside a one-bedroom layout.
Where is this duplex located?
The property is located at 2702-2704 Iroquois St Baton Rouge, LA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Renovated 1,315‑square‑foot duplex; Two tenant‑occupied units with leases in place; Unit mix includes 2BR/1BA and 1BR/1BA residences
