Duplex with Covered
For Sale
$160,000
3237/3241 Cedar Street, Lake Charles, LA 70615
Residential Income, Lake Charles, LA
Property Size1,732 SF
Lot Size0.33 Acres
Price / SF$92.38
Days on Market58
Property Features for 3237/3241 Cedar Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Laundry Room
Parking
2
Interior features
Bathtub, Ceiling Fan(s), No Carpet, Shower in Tub, Storage, Unfurnished
Subdivision
PINE HILLS
Lot features
Back Yard, 0-1 Unit/ Acre, Front Yard, Lawn, Rectangular Lot
Directions
From I-10, N on HWY 171, R on HWY 3059, R on Forest Ave, L on Cedar St and duplexes will be on the R
Standard status
Active
APN
01020986
Size
1,732 SF
Lot size
0.33 Acres
Utilities
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
covered parking
detached laundry and storage
window unit HVAC
Building Details
Year built
1975
Floors in Building
1
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Coldwell Banker Ingle Safari R · Coldwell Banker Real Estate
(337) 478-1601
Listed By:
Steve Floyd · License #41445
(337) 274-5684
Added: Jul 9
Changed: Aug 25
Last Checked: Sep 4 at 11:06AM
MLS# 3726
Copyright © 2026 Southwest Louisiana Association of REALTORS®. 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 duplex at 3237/3241 Cedar Street in Lake Charles contains 1,732 square feet arranged as two units of approximately 866 square feet each. Both units provide two bedrooms and one bathroom, with practical interior layouts, ceiling fans, bathtubs, and no carpet. Window and wall/window units provide cooling and heating. Covered vehicle parking supports each unit, while a detached exterior area adds laundry and storage space.
Constructed in 1975, the property has a shingle roof that is less than 5 years old and receives public water service. The approximately .33-acre parcel is zoned Mixed Residential and located in Flood Zone X. The property is offered as a duplex, and a second duplex on the adjoining parcel is also available under listing SWL26001012.
Constructed in 1975, the property has a shingle roof that is less than 5 years old and receives public water service. The approximately .33-acre parcel is zoned Mixed Residential and located in Flood Zone X. The property is offered as a duplex, and a second duplex on the adjoining parcel is also available under listing SWL26001012.
Key Highlights
- 1,732‑square‑foot duplex on approximately .33 acres
- Two units, each with 2 bedrooms, 1 bathroom, and approximately 866 square feet
- Covered vehicle parking for tenant convenience
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
$11,439
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
7.15%
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%
$228,780
$228.8K
Cap Rate 7%
$163,414
$163.4K
Cap Rate 9%
$127,100
$127.1K
Market Conditions
NOI Build-Up for 1,732 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
$17.7K $10.20/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$16.3K $9.44/SF
− OpEx
−$4.9K −$2.83/SF
NOI
$11.4K $6.60/SF
Area
Calcasieu County, LA
Vacancy
7.50%
Lease Rate
$10.20 /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%
$228,780
Cap Rate 7%
$163,414
Cap Rate 9%
$127,100
Alternative Uses
Best Use
Multifamily LT 5
$163.4K
$143.0K – $190.7K
NOI $11,439 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$144.6K
$126.5K – $168.7K
NOI $10,121 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$373.3K
$326.7K – $435.6K
NOI $26,133 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 70615, LA
14,949
Population
5,498
Households
2.7
Avg Household Size
36
Median Age
15%
College-Educated
84%
High-School Grad
45.9 sq mi
ZIP Area
326
Density / Sq Mi
$43,333
Median Household Income
$30,086
Median Earnings
$1,095
Median Rent
$128,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units include covered vehicle parking plus detached laundry and storage space.
Where is this duplex located?
The property is located at 3237/3241 Cedar Street Lake Charles, LA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 1,732‑square‑foot duplex on approximately .33 acres; Two units, each with 2 bedrooms, 1 bathroom, and approximately 866 square feet; Covered vehicle parking for tenant convenience
