Two-Unit Cottage Income
514-16 Monticello Avenue Jefferson, LA 70121
514-16 Monticello Avenue, Jefferson, LA, 70121
$249,000
For Sale
$249,000
Two occupied units in a 2-unit cottage, with a covered porch and 1-car carport plus shed.
Property Size1,581 SF
Price / SF$157.50
Days on Market290
Property Features for 514-16 Monticello Avenue
General Information
- Standard status
- Active
- Size
- 1,581 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1964
Listing agency
RE/MAX N.O. Properties
(504) 343-1698
Listed by
John Rareshide · License #000015172
(504) 343-1698
Source
Compass
Added: Oct 5, 2025 Updated: Jul 21 at 7:57AM Checked: Jul 21 at 7:57AM
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 RE/MAX N.O. Properties
Investment Insights
Based on property information with market context.
This charming 2-unit cottage offers two separate, income-producing residences. The larger owner’s unit is approximately 1,100 square feet, and the smaller unit is approximately 550 square feet. Both units are currently occupied by long-term tenants.
The property includes a covered porch and a 1-car carport with an attached shed, providing practical outdoor and storage space.
The well-established duplex configuration supports an owner-occupant or investor setup with rental income from both units.
The property includes a covered porch and a 1-car carport with an attached shed, providing practical outdoor and storage space.
The well-established duplex configuration supports an owner-occupant or investor setup with rental income from both units.
Key Highlights
- Two occupied units in a 1‑story 2‑unit cottage with long‑term tenants in both units
- Owner’s unit is approximately 1,100 sq ft and features 3 bedrooms and 2 full bathrooms
- Income‑producing unit is approximately 550 sq ft
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.3k | $19.80 |
| − Vacancy | −$2.7k | −$1.71 |
| EGI | $28.6k | $18.09 |
| − OpEx | −$8.6k | −$5.43 |
| NOI | $20.0k | $12.66 |
1,581 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.0K
$250.2K – $333.7K
NOI $20,019 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$262.9K
$230.0K – $306.7K
NOI $18,401 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$401.8K
$351.6K – $468.8K
NOI $28,129 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two occupied units in a 2-unit cottage, with a covered porch and 1-car carport plus shed.
Where is this duplex located?
The property is located at 514-16 Monticello Avenue Jefferson, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two occupied units in a 1‑story 2‑unit cottage with long‑term tenants in both units; Owner’s unit is approximately 1,100 sq ft and features 3 bedrooms and 2 full bathrooms; Income‑producing unit is approximately 550 sq ft
