Remodeled Duplex with Two
For Sale
$140,000
400 S Granger St, Erath, LA 70533
Two updated residences offer separate two-bedroom, one-bath layouts.
Property Size1,240 SF
Price / SF$112.90
Days on Market18
Property Features for 400 S Granger St
General Information
Standard status
Active
Size
1,240 SF
Property subtype
Multi-Family
Listing Agency:
Carter Roy Real Estate Group
(337) 789-3037
Listed By:
Shawn P Carter · License #995709983
Source:
Athomerealtyla
Added: Aug 15
Changed: Aug 30
Last Checked: Aug 31 at 6:57PM
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 Carter Roy Real Estate Group
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with two bedrooms and one bathroom. The 1,240-square-foot property has been remodeled with new flooring, fresh interior paint, granite kitchen countertops, and updated fixtures throughout both units.
Located at 400 S Granger St in Erath, Louisiana, the property has both residences currently occupied. Its two-unit configuration supports separate living arrangements within a single residential income property.
Located at 400 S Granger St in Erath, Louisiana, the property has both residences currently occupied. Its two-unit configuration supports separate living arrangements within a single residential income property.
Key Highlights
- Two‑unit duplex with 1,240 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Remodeled with new flooring, fresh paint, granite countertops, and modern fixtures
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
$11,598
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
8.28%
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%
$231,960
$232.0K
Cap Rate 7%
$165,686
$165.7K
Cap Rate 9%
$128,867
$128.9K
Market Conditions
NOI Build-Up for 1,240 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
$22.2K $17.88/SF
− Vacancy
−$5.6K −$4.52/SF
EGI
$16.6K $13.36/SF
− OpEx
−$5.0K −$4.01/SF
NOI
$11.6K $9.35/SF
Area
Vermilion County, 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 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%
$231,960
Cap Rate 7%
$165,686
Cap Rate 9%
$128,867
Alternative Uses
Best Use
Multifamily LT 5
$165.7K
$145.0K – $193.3K
NOI $11,598 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$150.2K
$131.4K – $175.2K
NOI $10,512 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$293.2K
$256.5K – $342.0K
NOI $20,522 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Explore this area
Business Placement
Demographics for 70533, LA
7,282
Population
3,020
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
84%
High-School Grad
74.4 sq mi
ZIP Area
98
Density / Sq Mi
$65,742
Median Household Income
$39,974
Median Earnings
$828
Median Rent
$151,200
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 updated residences offer separate two-bedroom, one-bath layouts.
Where is this duplex located?
The property is located at 400 S Granger St Erath, 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‑unit duplex with 1,240 square feet; Each unit includes 2 bedrooms and 1 bathroom; Remodeled with new flooring, fresh paint, granite countertops, and modern fixtures
