Duplex with Two 3-Bedroom
For Sale
$230,000
502 Idlewild Drive, Houma, LA 70364
Residential income property with walk-in closets, mixed heating and cooling systems, and an in-unit laundry setup.
Property Size1,866 SF
Price / SF$123.26
Days on Market42
Property Features for 502 Idlewild Drive
General Information
Standard status
Active
Size
1,866 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,250
Building Details
Year Built
1990
Listing Agency:
Keller Williams Realty Services
Listed By:
Crystal Chambers · License #CHAMCRYS
(985) 860-0014
Source:
Thepuckettteam
Added: Jul 23
Changed: Aug 31
Last Checked: Sep 1 at 3:18PM
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 Services
Investment Insights
Based on property information with market context.
Built in 1990, this duplex contains two separate 3-bedroom, 2-bath residences with a combined 1,866 square feet of living area. Each unit measures 933 square feet and includes walk-in closets in the primary suite. Cooling is provided by window A/C units, while Side A also has central heat. Unit B includes a washer and dryer.
The property is located at 502 Idlewild Drive in Houma, Louisiana, with shopping, dining, a mall, and a movie theater described as minutes away. The two-unit configuration provides separate residential spaces within one income property.
The property is located at 502 Idlewild Drive in Houma, Louisiana, with shopping, dining, a mall, and a movie theater described as minutes away. The two-unit configuration provides separate residential spaces within one income property.
Key Highlights
- Two 3‑bedroom, 2‑bath units
- 1,866 total square feet; each unit measures 933 sq. ft.
- 1990 construction year
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
$14,034
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
6.10%
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%
$280,680
$280.7K
Cap Rate 7%
$200,486
$200.5K
Cap Rate 9%
$155,933
$155.9K
Market Conditions
NOI Build-Up for 1,866 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
$21.9K $11.76/SF
− Vacancy
−$1.9K −$1.02/SF
EGI
$20.0K $10.74/SF
− OpEx
−$6.0K −$3.22/SF
NOI
$14.0K $7.52/SF
Area
Terrebonne County, LA
Vacancy
8.64%
Lease Rate
$11.76 /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%
$280,680
Cap Rate 7%
$200,486
Cap Rate 9%
$155,933
Alternative Uses
Best Use
Multifamily LT 5
$200.5K
$175.4K – $233.9K
NOI $14,034 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$174.3K
$152.5K – $203.4K
NOI $12,202 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$514.4K
$450.1K – $600.1K
NOI $36,006 @ 7.0% cap · market cap 15.65%
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
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 70364, LA
29,559
Population
12,423
Households
2.4
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
42.2 sq mi
ZIP Area
700
Density / Sq Mi
$68,909
Median Household Income
$36,164
Median Earnings
$1,004
Median Rent
$195,600
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 - Residential income property with walk-in closets, mixed heating and cooling systems, and an in-unit laundry setup.
Where is this duplex located?
The property is located at 502 Idlewild Drive Houma, LA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units; 1,866 total square feet; each unit measures 933 sq. ft.; 1990 construction year
