Furnished Bed & Breakfast
For Sale
$365,000
601 Goode St, Houma, LA 70360
Three connected sections offer furnished accommodations with separate kitchens and flexible rental use.
Property Size3,600 SF
Price / SF$101.39
Days on Market10
Property Features for 601 Goode St
General Information
Standard status
Active
Size
3,600 SF
Additional Details
Furnished
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,600
Building Details
Buildings
1
Listing Agency:
PARR & ASSOCIATES, INC
(985) 868-4240
Listed By:
Carroll Parr · License #20_1
(985) 804-9166
Source:
Exprealty
Added: Sep 2
Changed: Sep 10
Last Checked: Sep 11 at 11:49AM
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 PARR & ASSOCIATES, INC
Investment Insights
Based on property information with market context.
This 3,600-square-foot bed and breakfast property combines three connected sections that can function together as one building. The property includes three full baths, two kitchens, and furnished interiors throughout. The configuration encompasses 601 Goode St, 500 Wood St, and 502 Wood St, with each section offering potential for separate use or rental. The center section is currently owner occupied, while the other two sections have been used as rental accommodations.
The property has operated as a bed and breakfast and was also used for several years as short-term rentals. Each unit may be offered for short- or long-term occupancy. The building was formed by connecting two houses through a central section and previously served as a law office.
The property has operated as a bed and breakfast and was also used for several years as short-term rentals. Each unit may be offered for short- or long-term occupancy. The building was formed by connecting two houses through a central section and previously served as a law office.
Key Highlights
- 3,600‑square‑foot building arranged in 3 connected sections
- Three addresses: 601 Goode St, 500 Wood St, and 502 Wood St
- 3 full baths and 2 kitchens
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
$23,542
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
6.45%
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%
$470,840
$470.8K
Cap Rate 7%
$336,314
$336.3K
Cap Rate 9%
$261,578
$261.6K
Market Conditions
NOI Build-Up for 3,600 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
$47.1K $13.08/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$42.8K $11.89/SF
− OpEx
−$19.3K −$5.35/SF
NOI
$23.5K $6.54/SF
Area
Terrebonne 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%
$470,840
Cap Rate 7%
$336,314
Cap Rate 9%
$261,578
Alternative Uses
Best Use
Apartment 5plus
$336.3K
$294.3K – $392.4K
NOI $23,542 @ 7.0% cap · market cap 6.45%
Second Best
Hotel Hospitality
$311.5K
$272.5K – $363.4K
NOI $21,803 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 19.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Similar Off Market Nearby
- Wood Street Apartments — 813 Wood St, Houma, LA 70360
- Main st apartments. — 7485 W Main St, Houma, LA 70360
- Chez Maudrey Bed & Breakfst — 311 pecan st, houma, la 70364
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Three connected sections offer furnished accommodations with separate kitchens and flexible rental use.
Where is this bed & breakfast located?
The property is located at 601 Goode St Houma, LA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 3,600‑square‑foot building arranged in 3 connected sections; Three addresses: 601 Goode St, 500 Wood St, and 502 Wood St; 3 full baths and 2 kitchens
