Duplex with Covered
For Sale
$220,000
502 IDLEWILD Drive, Houma, LA 70364
Multi-Family, Acadian, Houma, LA
Property Size1,866 SF
Price / SF$117.90
Days on Market48
Property Features for 502 IDLEWILD Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Standard status
Active
APN
50270
Size
1,866 SF
Taxes and HOA fees
Tax Description
PART LOT 1 & ALL OF LOT 2 BLOCK 8 ADDEN. 1 IDLEWILD SUBD.
Legal Description
PART LOT 1 & ALL OF LOT 2 BLOCK 8 ADDEN. 1 IDLEWILD SUBD.
Utilities
Heating system
Central
Cooling system
Window Unit(s)
Water source
Public
Amenities
window A/C units
Building Details
Year built
1990
Floors in Building
1
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Crystal Chambers · License #995702355
(985) 860-4585
Added: Jul 21
Changed: Sep 1
Last Checked: Sep 6 at 8:06AM
MLS# 2568597
Copyright © 2026 New Orleans Metropolitan 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.
Located at 502 Idlewild Drive in Houma, this 1,866-square-foot duplex contains two residential units, each measuring 933 square feet. Both layouts include three bedrooms, two bathrooms, spacious rooms, and primary suites with walk-in closets. Porches provide covered outdoor space for each side. Unit B has a washer and dryer, while Side A includes central heat; window air-conditioning units serve the property.
Built in 1990, the property has an asphalt roof and public water service. The duplex is minutes from a mall, movie theater, shopping, and dining. Its two-unit configuration and established residential layout support continued use as a multifamily property.
Built in 1990, the property has an asphalt roof and public water service. The duplex is minutes from a mall, movie theater, shopping, and dining. Its two-unit configuration and established residential layout support continued use as a multifamily property.
Key Highlights
- Two‑unit duplex totaling 1,866 square feet
- Each unit offers 933 sq. ft. with 3 bedrooms and 2 baths
- Primary suites include walk‑in closets
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
6.38%
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 6.38%
Second Best
Apartment 5plus
$174.3K
$152.5K – $203.4K
NOI $12,202 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$514.4K
$450.1K – $600.1K
NOI $36,006 @ 7.0% cap · market cap 16.37%
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 - Two residential units offer three bedrooms, two baths, and spacious primary suites with walk-in closets.
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 $220,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,866 square feet; Each unit offers 933 sq. ft. with 3 bedrooms and 2 baths; Primary suites include walk‑in closets
