Brick Two-Unit
For Sale
$95,000
273 Brooklyn Avenue, Houma, LA 70364
Each residence offers one bedroom, one bath, individual metering, and kitchen appliances.
Property Size1,000 SF
Price / SF$95
Days on Market1234
Property Features for 273 Brooklyn Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Window Unit(s)
Space Heater
Other
Electric Cooktop, Range/Oven, Refrigerator
2
Individual Meter
Slab: Traditional
Brick
Listing Agency:
1 Percent Lists United
Listed By:
Michele Palmer · License #995703247
(985) 209-6063
Source:
Compass
Added: Apr 20, 2023
Changed: Sep 2
Last Checked: Sep 1 at 10:42PM
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 1 Percent Lists United
Investment Insights
Based on property information with market context.
This brick duplex contains two one-bedroom, one-bath residences within a 1,000-square-foot property. Each unit includes a window unit, space heater, electric cooktop, range/oven, and refrigerator. Individual metering serves the units, and the building rests on a traditional slab foundation.
Located at 273 Brooklyn Avenue in Houma, the property is directly next to a park. The two-unit layout and separate residential accommodations provide a straightforward multifamily configuration for an owner or investor.
Located at 273 Brooklyn Avenue in Houma, the property is directly next to a park. The two-unit layout and separate residential accommodations provide a straightforward multifamily configuration for an owner or investor.
Key Highlights
- Two‑unit duplex with one bedroom and one bath per residence
- 1,000‑square‑foot property in Houma, LA
- Individual metering for the units
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
$7,521
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
7.92%
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%
$150,420
$150.4K
Cap Rate 7%
$107,443
$107.4K
Cap Rate 9%
$83,567
$83.6K
Market Conditions
NOI Build-Up for 1,000 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
$11.8K $11.76/SF
− Vacancy
−$1.0K −$1.02/SF
EGI
$10.7K $10.74/SF
− OpEx
−$3.2K −$3.22/SF
NOI
$7.5K $7.52/SF
Area
Terrebonne County, LA
Vacancy
8.64%
Lease Rate
$11.76 /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%
$150,420
Cap Rate 7%
$107,443
Cap Rate 9%
$83,567
Alternative Uses
Best Use
Multifamily LT 5
$107.4K
$94.0K – $125.4K
NOI $7,521 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$93.4K
$81.7K – $109.0K
NOI $6,539 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$275.7K
$241.2K – $321.6K
NOI $19,296 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 70364, LA
29,559
Population
12,423
Households
2.4
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
42.2 sq mi
ZIP Area
700
Density / Sq Mi
$68,909
Median Household Income
$36,164
Median Earnings
$1,004
Median Rent
$195,600
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 one bedroom, one bath, individual metering, and kitchen appliances.
Where is this duplex located?
The property is located at 273 Brooklyn Avenue Houma, LA.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bath per residence; 1,000‑square‑foot property in Houma, LA; Individual metering for the units
