Tenant-Occupied
For Sale
$137,000
3748 Southdown Mandalay Road, Houma, LA 70360
Two three-bedroom units feature central air, carports, and a large yard near Bayou Black gym.
Property Size1,800 SF
Price / SF$76.11
Days on Market177
Property Features for 3748 Southdown Mandalay Road
General Information
Standard status
Active
Size
1,800 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
Central Air
Central
Electric Cooktop
4
6
2
Slab: Traditional
Brick, Frame
Building Details
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
Listed By:
Dana Theriot · License #995693099
(985) 688-6342
Source:
Compass
Added: Mar 11
Changed: Sep 2
Last Checked: Sep 1 at 11:32PM
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 BAYOU P
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with three bedrooms and two bathrooms, within approximately 1,800 square feet. The property includes central air, central heating, electric cooktops, a slab foundation, and brick-and-frame exterior construction. Each unit is supported by a carport, and the property includes a large yard.
Located on Southdown Mandalay Road in Houma, the duplex is near Bayou Black gym. Both units are currently tenant-occupied, providing an existing rental arrangement. The property is identified as not being in a flood zone.
Located on Southdown Mandalay Road in Houma, the duplex is near Bayou Black gym. Both units are currently tenant-occupied, providing an existing rental arrangement. The property is identified as not being in a flood zone.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms per unit
- Approximately 1,800 square feet total
- Current tenants occupy both units
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
$11,771
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
8.59%
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%
$235,420
$235.4K
Cap Rate 7%
$168,157
$168.2K
Cap Rate 9%
$130,789
$130.8K
Market Conditions
NOI Build-Up for 1,800 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
$23.5K $13.08/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$21.4K $11.89/SF
− OpEx
−$9.6K −$5.35/SF
NOI
$11.8K $6.54/SF
Area
Terrebonne County, LA
Vacancy
9.10%
Lease Rate
$13.08 /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%
$235,420
Cap Rate 7%
$168,157
Cap Rate 9%
$130,789
Alternative Uses
Best Use
Multifamily LT 5
$193.4K
$169.2K – $225.6K
NOI $13,537 @ 7.0% cap · market cap 9.88%
Second Best
Apartment 5plus
$168.2K
$147.1K – $196.2K
NOI $11,771 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$496.2K
$434.2K – $578.9K
NOI $34,733 @ 7.0% cap · market cap 25.35%
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
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
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?
Duplex - Two three-bedroom units feature central air, carports, and a large yard near Bayou Black gym.
Where is this duplex located?
The property is located at 3748 Southdown Mandalay Road Houma, LA.
What is the asking price?
The asking price for this property is $137,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms per unit; Approximately 1,800 square feet total; Current tenants occupy both units
