2-Unit Residential
For Sale
$140,000
309 Knollwood Drive, Lafayette, LA 70506
Residential Income, Lafayette, LA
Property Size1,300 SF
Lot Size0.39 Acres
Price / SF$107.69
Days on Market117
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)
Utilities
Sewer type
Public Sewer
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: Oct 8
Last Checked: Oct 13 at 9:06AM
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 two-unit residential property contains 1,300 square feet and sits on a 0.39-acre lot. Brick construction and public sewer are among its documented physical features. Long-term tenants are in place.
The property is located in Lafayette, Louisiana, at 309 Knollwood Drive.
The property is located in Lafayette, Louisiana, at 309 Knollwood Drive.
Key Highlights
- Two residential units
- 1,300 square feet of building area
- 0.39‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,159
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
820
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Brick construction and public sewer serve this rental property.
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: Two residential units; 1,300 square feet of building area; 0.39‑acre lot
