Turnkey Duplex with Two
For Sale
$140,000
309 Knollwood Drive, Lafayette, LA 70506
MULTI_FAMILY - Lafayette, LA
Property Size1,300 SF
Lot Size0.39 Acres
Price / SF$107.69
Days on Market58
Property Features for 309 Knollwood Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Subdivision
Plaza Village
Elementary school
Woodvale
Middle school
Edgar Martin
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
From W Congress turn left onto Eula Dr, left onto Pasteur, right onto Knollwood, house will be on the left.
Standard status
Active
APN
6039235
Size
1,300 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
LOT 91 PLAZA VILLAGE SUBDV EXT VI (85X185.27X91.80X216.23)
Legal Description
LOT 91 PLAZA VILLAGE SUBDV EXT VI (85X185.27X91.80X216.23)
Building Details
Number of units
2
Building materials
Brick
Listing Agency:
Real Broker, LLC
(337) 534-0555
Listed By:
Jamie Knight · License #69168
(337) 654-3174
Added: Jun 19
Changed: Jul 25
Last Checked: Aug 15 at 6:06AM
MLS# 2600005572
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 turnkey two-unit duplex is offered as a complete rental property with long-term tenants in place. The home is described as very well maintained, and it includes existing income from both units. The property size is listed at 1,300 square feet on a 0.39-acre lot. Seller-provided information states it is generating $1,475 per month and $17,700 per year in rental income, with full financials available by request, including lease copies and estimates for insurance, property taxes, and other expenses. Optional built-in management services are also described as available if needed, though they are not required.
The property is located at 309 Knollwood Drive in Lafayette, Louisiana (70506). This offering is part of a larger portfolio of investment rental properties currently listed for sale, with additional homes expected to become available.
For buyers seeking a ready-to-rent duplex, the current tenant occupancy and available financial documentation can help streamline evaluation. The property may be purchased individually, or along with other homes in the portfolio, depending on your acquisition approach and desired scope.
The property is located at 309 Knollwood Drive in Lafayette, Louisiana (70506). This offering is part of a larger portfolio of investment rental properties currently listed for sale, with additional homes expected to become available.
For buyers seeking a ready-to-rent duplex, the current tenant occupancy and available financial documentation can help streamline evaluation. The property may be purchased individually, or along with other homes in the portfolio, depending on your acquisition approach and desired scope.
Key Highlights
- 2‑unit rental property generating $1,475/month and $17,700/year in rental income
- Long‑term tenants in place
- Brick construction
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
$12,159
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
8.69%
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%
$243,180
$243.2K
Cap Rate 7%
$173,700
$173.7K
Cap Rate 9%
$135,100
$135.1K
Market Conditions
NOI Build-Up for 1,300 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
$23.2K $17.88/SF
− Vacancy
−$5.9K −$4.52/SF
EGI
$17.4K $13.36/SF
− OpEx
−$5.2K −$4.01/SF
NOI
$12.2K $9.35/SF
Area
Lafayette, LA
Vacancy
25.27%
Lease Rate
$17.88 /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%
$243,180
Cap Rate 7%
$173,700
Cap Rate 9%
$135,100
Alternative Uses
Best Use
Multifamily LT 5
$173.7K
$152.0K – $202.7K
NOI $12,159 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$157.4K
$137.8K – $183.7K
NOI $11,021 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$307.4K
$269.0K – $358.6K
NOI $21,516 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
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 - Well-maintained two-unit duplex currently leased with provided rental income figures and available documentation.
Where is this duplex located?
The property is located at 309 Knollwood Drive Lafayette, LA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 2‑unit rental property generating $1,475/month and $17,700/year in rental income; Long‑term tenants in place; Brick construction
