4-Unit Duplex
515 Marie Street, Patterson, LA 70392
For Sale
New
$180,000
Multifamily, Patterson, LA
Property Size2,280 SF
Lot Size0.14 Acres
Price / SF$78.95
Days on Market6
Property Features for 515 Marie Street
General Information
Property type
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Bedrooms
Bathrooms
Full bathrooms
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Parking
Parking features
Window features
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Subdivision
Lot features
Elementary school
Middle school
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Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
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Building Details
Year built
Number of units
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Building materials
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Buildings
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Molly Usie · License #912122266
(985) 855-2945
Added: Nov 2
Changed: Nov 6
Last Checked: Nov 7 at 5:06AM
MLS# 200JPJ
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Two duplex buildings contain four one-bedroom, one-bathroom residences, totaling 2,280 square feet on a 0.1377-acre parcel. The units have kitchen and living areas, and the property was built in 1991. Construction includes brick veneer, with laminate, vinyl, and carpet flooring. The residences are all-electric and feature driveway parking.
Each unit is occupied under a month-to-month lease. Public water and sewer serve the property, and cable is available. Heating and cooling systems include central and ductless equipment, along with window-unit cooling.
At 515 Marie Street in Patterson, the property sits across from the post office, Dollar General Market, and local banking. Shopping, dining, and schools are among the other nearby amenities.
Each unit is occupied under a month-to-month lease. Public water and sewer serve the property, and cable is available. Heating and cooling systems include central and ductless equipment, along with window-unit cooling.
At 515 Marie Street in Patterson, the property sits across from the post office, Dollar General Market, and local banking. Shopping, dining, and schools are among the other nearby amenities.
Key Highlights
- Two duplex buildings with four total one‑bedroom, one‑bathroom units
- 2,280 square feet on a 0.1377‑acre lot
- All four units occupied with month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,921
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,420
$238.4K
Cap Rate 7%
$170,300
$170.3K
Cap Rate 9%
$132,456
$132.5K
Market Conditions
NOI Build-Up for 2,280 SF
Gross rent
$23.3K $10.20/SF
− Vacancy
−$1.6K −$0.69/SF
EGI
$21.7K $9.51/SF
− OpEx
−$9.8K −$4.28/SF
NOI
$11.9K $5.23/SF
Area
St. Mary County, LA
Vacancy
6.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,420
Cap Rate 7%
$170,300
Cap Rate 9%
$132,456
Alternative Uses
Best Use
Apartment 5plus
$170.3K
$149.0K – $198.7K
NOI $11,921 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$389.0K
$340.4K – $453.9K
NOI $27,231 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
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Business Placement
Demographics for 70392, LA
8,406
Population
3,396
Households
2.5
Avg Household Size
38
Median Age
9%
College-Educated
80%
High-School Grad
36.8 sq mi
ZIP Area
228
Density / Sq Mi
$49,538
Median Household Income
$38,918
Median Earnings
$760
Median Rent
$141,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - All four residences are occupied under month-to-month agreements and have functional kitchen and living areas.
Where is this multifamily property located?
The property is located at 515 Marie Street Patterson, LA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two duplex buildings with four total one‑bedroom, one‑bathroom units; 2,280 square feet on a 0.1377‑acre lot; All four units occupied with month‑to‑month leases
