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 Market93
Property Features for 505 & 507 Cedar Crest Court
General Information
Standard status
Active
Size
1,457 SF
Property subtype
Multi-Family
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
The Gleason Group
(337) 262-7873
Source:
Gleasonla
Added: Jul 13
Changed: Oct 13
Last Checked: Oct 12 at 8:01PM
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 Acadiana
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 / Yr
$13,628
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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
