Two-Unit
For Sale
$170,000
505 & 507 Cedar Crest Court, Lafayette, LA 70501
Residential income property with one two-bedroom unit and a separate one-bedroom apartment.
Property Size1,457 SF
Price / SF$116.68
Days on Market48
Property Features for 505 & 507 Cedar Crest Court
General Information
Standard status
Active
Size
1,457 SF
Property subtype
Multi-Family
Listing Agency:
Carrington Realty, Inc.
(337) 262-7873
Listed By:
The Gleason Group
(337) 262-7873
Source:
Gleasonla
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 28 at 8:19PM
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 Carrington Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex property combines two residential units within a 1,457-square-foot asset. The configuration includes a two-bedroom, one-bath home alongside a separate one-bedroom apartment, providing distinct living spaces within the same property.
Located at 505 and 507 Cedar Crest Court in Lafayette, Louisiana, the property is offered for sale as a multifamily asset. Its two-unit layout supports residential occupancy and income-property use, while the separate addresses identify each side of the offering.
Located at 505 and 507 Cedar Crest Court in Lafayette, Louisiana, the property is offered for sale as a multifamily asset. Its two-unit layout supports residential occupancy and income-property use, while the separate addresses identify each side of the offering.
Key Highlights
- Two residential units at 505 and 507 Cedar Crest Court
- 1,457‑square‑foot duplex property
- One unit has 2 bedrooms and 1 bath
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
$13,628
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
8.02%
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%
$272,560
$272.6K
Cap Rate 7%
$194,686
$194.7K
Cap Rate 9%
$151,422
$151.4K
Market Conditions
NOI Build-Up for 1,457 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
$26.1K $17.88/SF
− Vacancy
−$6.6K −$4.52/SF
EGI
$19.5K $13.36/SF
− OpEx
−$5.8K −$4.01/SF
NOI
$13.6K $9.35/SF
Area
Lafayette, 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%
$272,560
Cap Rate 7%
$194,686
Cap Rate 9%
$151,422
Alternative Uses
Best Use
Multifamily LT 5
$194.7K
$170.4K – $227.1K
NOI $13,628 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$176.5K
$154.4K – $205.9K
NOI $12,352 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$344.5K
$301.4K – $401.9K
NOI $24,114 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,629
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
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 - Residential income property with one two-bedroom unit and a separate one-bedroom apartment.
Where is this duplex located?
The property is located at 505 & 507 Cedar Crest Court Lafayette, LA.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Two residential units at 505 and 507 Cedar Crest Court; 1,457‑square‑foot duplex property; One unit has 2 bedrooms and 1 bath
