Tenant-Occupied Residential Income
For Sale
$464,000
519 Madison Street, Lafayette, LA 70501
Residential Income, Lafayette, LA
Property Size2,627 SF
Lot Size0.32 Acres
Price / SF$176.63
Days on Market228
Property Features for 519 Madison Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Parking
1
Parking features
Parking Lot, On Street, Assigned
Interior features
High Ceilings, 9+ Ft Ceiling, Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection, Gas Dryer Connection, Gas Stove Connection
Exterior features
Lighting, Outside Light
Appliances
Refrigerator, Refrigerator
Subdivision
Mills Addition
Lot features
Level
Elementary school
Lafayette
Middle school
Acadian
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
W. Congress from the Cajundome towards Downtown, LEFT onto Madison St.
Standard status
Active
APN
6057167
Size
2,627 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
LOT 227 MILLS ADD (100X140)
Legal Description
LOT 227 MILLS ADD (100X140)
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Floors in Building
1
Number of units
3
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Compass · ERA Real Estate
(337) 233-9700
Listed By:
Setareh A Mirian · License #99564700
(337) 344-0067
Added: Feb 27
Changed: Oct 8
Last Checked: Oct 13 at 9:06AM
MLS# 2600001694
Copyright © 2026 Realtor Association of Acadiana. 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.
This investor package includes 519 Madison Street, a well-maintained tri-plex with individually metered units, separate entrances, fenced yards, and on-site parking. Each unit has its own access and utilities, supporting straightforward income management.
Also included is 309 Voorhies, a freestanding single-family home remodeled in 2024. The property offers live/work or commercial potential and is located directly across the street from a coffee shop.
Both properties are 100% tenant occupied and are being sold together as a two-property package in Lafayette, Louisiana.
Also included is 309 Voorhies, a freestanding single-family home remodeled in 2024. The property offers live/work or commercial potential and is located directly across the street from a coffee shop.
Both properties are 100% tenant occupied and are being sold together as a two-property package in Lafayette, Louisiana.
Key Highlights
- Investor package: 519 Madison + 309 Voorhies sold together for $464,000
- Both properties are 100% tenant occupied
- 519 Madison is a well‑maintained tri‑plex with individually metered units and separate entrances; includes fenced yards and on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,571
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,420
$491.4K
Cap Rate 7%
$351,014
$351.0K
Cap Rate 9%
$273,011
$273.0K
Market Conditions
NOI Build-Up for 2,627 SF
Gross rent
$47.0K $17.88/SF
− Vacancy
−$11.9K −$4.52/SF
EGI
$35.1K $13.36/SF
− OpEx
−$10.5K −$4.01/SF
NOI
$24.6K $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%
$491,420
Cap Rate 7%
$351,014
Cap Rate 9%
$273,011
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,571 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$318.2K
$278.4K – $371.2K
NOI $22,271 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$621.1K
$543.5K – $724.6K
NOI $43,478 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,838
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?
Triplex - Two Lafayette properties sold together: a tri-plex and a remodeled single-family home, both 100% tenant occupied.
Where is this triplex located?
The property is located at 519 Madison Street Lafayette, LA.
What is the asking price?
The asking price for this property is $464,000.
What are key features of this property?
This property features: Investor package: 519 Madison + 309 Voorhies sold together for $464,000; Both properties are 100% tenant occupied; 519 Madison is a well‑maintained tri‑plex with individually metered units and separate entrances; includes fenced yards and on‑site parking
