8-Unit Multifamily Property with Modern
New
For Sale
$250,000
3228 N Foster Dr, Baton Rouge, LA 70805
Four single-story duplexes feature updated interiors, private rear access, and dedicated concrete parking for each residence.
Property Size2,478 SF
Price / SF$100.89
Days on Market7
Property Features for 3228 N Foster Dr
General Information
Standard status
Active
Size
2,478 SF
Total Parking Spaces
8
Property subtype
Residential Income
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Parking per Unit
1
Amenities
ceramic tile flooring
granite countertops
stainless steel appliances
breakfast bar
dishwasher
pantry
private rear entrance
small grassy outdoor area
Building Details
Buildings
4
Construction
brick
Listing Agency:
Keller Williams Realty-First Choice
(225) 744-0044
Listed By:
Matthew Pearce
(225) 744-0044
Source:
Exprealty
Added: Aug 7
Changed: Aug 13
Last Checked: Aug 13 at 8:19AM
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 Keller Williams Realty-First Choice
Investment Insights
Based on property information with market context.
This multifamily property comprises 4 duplexes and 8 total units. Each single-story residence offers 1,236 square feet with 3 bedrooms and 2 full bathrooms. Interior features include ceramic tile flooring, granite countertops, stainless steel appliances, breakfast bars, dishwashers, and spacious pantries. Private rear entrances open to small grassy outdoor areas, while each unit has a dedicated concrete parking space. Brick exteriors support a low-maintenance property profile.
The property is located at 3228 N Foster Dr in Baton Rouge, Louisiana, with access to Mid City, Downtown, a hospital, shopping, restaurants, entertainment, everyday conveniences, sidewalks, and major roadways. The unit layout and residential finishes support long-term rental use within a multifamily configuration.
The property is located at 3228 N Foster Dr in Baton Rouge, Louisiana, with access to Mid City, Downtown, a hospital, shopping, restaurants, entertainment, everyday conveniences, sidewalks, and major roadways. The unit layout and residential finishes support long-term rental use within a multifamily configuration.
Key Highlights
- 4 duplexes with 8 total units
- Each unit measures 1,236 square feet with 3 bedrooms and 2 full bathrooms
- Ceramic tile, granite countertops, stainless steel appliances, breakfast bars, dishwashers, and pantries
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
$22,689
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
9.08%
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%
$453,780
$453.8K
Cap Rate 7%
$324,129
$324.1K
Cap Rate 9%
$252,100
$252.1K
Market Conditions
NOI Build-Up for 2,478 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
$43.4K $17.52/SF
− Vacancy
−$2.2K −$0.87/SF
EGI
$41.3K $16.65/SF
− OpEx
−$18.6K −$7.49/SF
NOI
$22.7K $9.16/SF
Area
Baton Rouge, LA
Vacancy
4.98%
Lease Rate
$17.52 /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%
$453,780
Cap Rate 7%
$324,129
Cap Rate 9%
$252,100
Alternative Uses
Best Use
Multifamily LT 5
$365.5K
$319.8K – $426.4K
NOI $25,582 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$324.1K
$283.6K – $378.2K
NOI $22,689 @ 7.0% cap · market cap 9.08%
Theoretical Best
Specialty Retail
$593.5K
$519.3K – $692.4K
NOI $41,542 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
470
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?
Multifamily property - Four single-story duplexes feature updated interiors, private rear access, and dedicated concrete parking for each residence.
Where is this multifamily property located?
The property is located at 3228 N Foster Dr Baton Rouge, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 4 duplexes with 8 total units; Each unit measures 1,236 square feet with 3 bedrooms and 2 full bathrooms; Ceramic tile, granite countertops, stainless steel appliances, breakfast bars, dishwashers, and pantries
