Residential Income
For Sale
$464,000
519 Madison Street, Lafayette, LA 70501
The property includes multiple HVAC units, high ceilings, and parking options that include assigned spaces and a parking lot.
Property Size2,627 SF
Days on Market242
Property Features for 519 Madison Street
General Information
Standard status
Active
Size
2,627 SF
Total Parking Spaces
1
Property subtype
Residential Income
Amenities
Park, Playground
Central Air, Ceiling Fan(s), Multi Units
Central, Electric, Natural Gas
Refrigerator
High Ceilings
Assigned, On Street, Parking Lot
Lighting
Building Details
Building Size
2,627 SF
Listing Agency:
Latter & Blum Holdings LLC
Listed By:
Setareh Mirian · License #99564700
(337) 344-0067
Source:
Evrealestate
Added: Mar 4
Changed: Oct 28
Last Checked: Oct 30 at 1:46PM
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 Latter & Blum Holdings LLC
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Investment Insights
Based on property information with market context.
Located at 519 Madison Street in Lafayette, this residential income property has high ceilings and multiple HVAC units. Interior features include central air and ceiling fans, with central, electric, and natural gas systems also noted. A refrigerator is included.
Parking options include assigned spaces, on-street parking, and a parking lot. Exterior lighting is also present.
Parking options include assigned spaces, on-street parking, and a parking lot. Exterior lighting is also present.
Key Highlights
- Multiple HVAC units with central air and ceiling fans
- High ceilings
- Assigned parking, on‑street parking, and a parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,271
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,420
$445.4K
Cap Rate 7%
$318,157
$318.2K
Cap Rate 9%
$247,456
$247.5K
Market Conditions
NOI Build-Up for 2,627 SF
Gross rent
$55.2K $21.00/SF
− Vacancy
−$14.7K −$5.59/SF
EGI
$40.5K $15.41/SF
− OpEx
−$18.2K −$6.94/SF
NOI
$22.3K $8.48/SF
Area
Lafayette, LA
Vacancy
26.60%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,420
Cap Rate 7%
$318,157
Cap Rate 9%
$247,456
Alternative Uses
Best Use
Apartment 5plus
$318.2K
$278.4K – $371.2K
NOI $22,271 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
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.
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Location Intelligence
Trade Area within ½ mile
1,838
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - The property includes multiple HVAC units, high ceilings, and parking options that include assigned spaces and a parking lot.
Where is this residential income property 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: Multiple HVAC units with central air and ceiling fans; High ceilings; Assigned parking, on‑street parking, and a parking lot
