Two-Unit Duplex with Central
For Sale
$185,000
569 W 5TH Street, Independence, LA 70443
Multi-Family, Traditional, Independence, LA
Property Size2,450 SF
Lot Size0.18 Acres
Price / SF$75.51
Days on Market320
Property Features for 569 W 5TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
00882607
Size
2,450 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
LOT 38 SQ 24
Legal Description
LOT 38 SQ 24
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
2018
Floors in Building
1
Number of units
2
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Elite Real Estate Advisors · Century 21 Real Estate
(985) 542-7601
Listed By:
Sergio Mesa · License #912124506
(504) 390-5229
Added: Nov 12, 2025
Changed: Sep 16
Last Checked: Sep 28 at 10:06AM
MLS# 2530430
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. 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.
Built in 2018, this duplex contains two residential units within 2,450 square feet on a 0.1836-acre parcel. Each unit provides three bedrooms, one full bathroom, a living room, kitchen, and washer/dryer hookups. Central heating and central air serve the property, while the shingle and asphalt roof adds to the building’s core improvements. Parking is provided through a driveway and off-street spaces, and the property is connected to public water.
The property is located at 569 W 5th Street in Independence, Louisiana, directly across from the Independence Police Station. Independence’s historic downtown district is nearby, with local retail, restaurants, services, schools, parks, and community facilities in the surrounding area. Interstate 55 and other main thoroughfares provide access toward Hammond, Amite, and Baton Rouge.
The property is located at 569 W 5th Street in Independence, Louisiana, directly across from the Independence Police Station. Independence’s historic downtown district is nearby, with local retail, restaurants, services, schools, parks, and community facilities in the surrounding area. Interstate 55 and other main thoroughfares provide access toward Hammond, Amite, and Baton Rouge.
Key Highlights
- Two‑unit duplex with 2,450 square feet of total property size
- Each unit offers 3 bedrooms and 1 full bath
- Built in 2018 on a 0.1836‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,021
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$320,420
$320.4K
Cap Rate 7%
$228,871
$228.9K
Cap Rate 9%
$178,011
$178.0K
Market Conditions
NOI Build-Up for 2,450 SF
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.
Gross rent
$32.0K $13.08/SF
− Vacancy
−$2.9K −$1.19/SF
EGI
$29.1K $11.89/SF
− OpEx
−$13.1K −$5.35/SF
NOI
$16.0K $6.54/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$320,420
Cap Rate 7%
$228,871
Cap Rate 9%
$178,011
Alternative Uses
Best Use
Multifamily LT 5
$263.2K
$230.3K – $307.1K
NOI $18,426 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$228.9K
$200.3K – $267.0K
NOI $16,021 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$675.4K
$591.0K – $788.0K
NOI $47,277 @ 7.0% cap · market cap 25.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
189
Businesses Nearby
Explore this area
Business Placement
Demographics for 70443, LA
10,229
Population
3,321
Households
3.1
Avg Household Size
38
Median Age
18%
College-Educated
74%
High-School Grad
76.2 sq mi
ZIP Area
134
Density / Sq Mi
$59,333
Median Household Income
$36,242
Median Earnings
$953
Median Rent
$145,700
Median Home Value
Check the figures for this property
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 - Each residence includes three bedrooms, one full bath, a kitchen, living room, and washer/dryer hookups.
Where is this duplex located?
The property is located at 569 W 5TH Street Independence, LA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,450 square feet of total property size; Each unit offers 3 bedrooms and 1 full bath; Built in 2018 on a 0.1836‑acre lot
