Renovated 12-Unit Apartment
For Sale
$670,000
314 Deare Street, New Iberia, LA 70560
Residential Income, New Iberia, LA
Property Size5,712 SF
Price / SF$117.30
Days on Market463
Property Features for 314 Deare Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
24
Parking features
Parking Lot
Appliances
Dishwasher, Refrigerator, Electric Range
Subdivision
Twin Circle
Elementary school
Call School Board
Middle school
Call School Board
High school
Call School Board
Elementary school district
Iberia Parish
Middle school district
Iberia Parish
High school district
Iberia Parish
Directions
St Peter Street going East turn right on Deare St. Apartments on the right.
Standard status
Active
APN
0503471000
Size
5,712 SF
Taxes and HOA fees
Tax Description
BEING LOTS 15 & 16, TWIN CIRCLE SUB
Legal Description
BEING LOTS 15 & 16, TWIN CIRCLE SUB
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Number of units
12
Flooring type
Vinyl
Building materials
Block
Roof type
Composition
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
Nah Senpeng · License #99562982
(337) 349-8869
Added: May 24, 2025
Changed: Aug 21
Last Checked: Aug 29 at 3:06AM
MLS# 2020024186
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 12-unit apartment property in New Iberia includes 11 one-bedroom units and one two-bedroom unit within a single-story complex. The 5,712-square-foot building has been fully renovated and features block construction, vinyl flooring, window-unit cooling, and composition roofing. Individual units include dishwashers, refrigerators, and electric ranges, while public water serves the property.
A dedicated parking lot supports the complex. The property is located at 314 Deare Street in New Iberia, Louisiana, and showings are available by appointment with the listing agent or owner. The asset is identified as being within an Opportunity Zone.
A dedicated parking lot supports the complex. The property is located at 314 Deare Street in New Iberia, Louisiana, and showings are available by appointment with the listing agent or owner. The asset is identified as being within an Opportunity Zone.
Key Highlights
- 12‑unit apartment complex with 11 one‑bedroom units and 1 two‑bedroom unit
- 5,712 square feet of single‑story residential space
- Fully renovated interiors with vinyl flooring
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
$34,872
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
5.20%
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%
$697,440
$697.4K
Cap Rate 7%
$498,171
$498.2K
Cap Rate 9%
$387,467
$387.5K
Market Conditions
NOI Build-Up for 5,712 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
$68.5K $12.00/SF
− Vacancy
−$5.1K −$0.90/SF
EGI
$63.4K $11.10/SF
− OpEx
−$28.5K −$5.00/SF
NOI
$34.9K $6.11/SF
Area
Iberia County, LA
Vacancy
7.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$697,440
Cap Rate 7%
$498,171
Cap Rate 9%
$387,467
Alternative Uses
Best Use
Apartment 5plus
$498.2K
$435.9K – $581.2K
NOI $34,872 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.7K
$826.6K – $1.10M
NOI $66,131 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
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?
Apartment building - Single-story apartment complex with block construction, updated interiors, and on-site parking.
Where is this apartment building located?
The property is located at 314 Deare Street New Iberia, LA.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: 12‑unit apartment complex with 11 one‑bedroom units and 1 two‑bedroom unit; 5,712 square feet of single‑story residential space; Fully renovated interiors with vinyl flooring
