Two-Story Duplex with Fenced
For Sale
$249,500
629 Louie Street, Lake Charles, LA 70601
Income-producing duplex with updated interior finishes, in-unit laundry, covered outdoor space, and central heating and air conditioning.
Property Size2,300 SF
Price / SF$108.48
Days on Market40
Property Features for 629 Louie Street
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
laundry room
covered patio
fenced backyard
Building Details
Year Built
2015
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
CENTURY 21 Bessette Flavin
Listed By:
Larry Turner · License #LTURNER
(337) 540-1916
Source:
Castlere
Added: Jul 25
Changed: Aug 31
Last Checked: Sep 1 at 3:08PM
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 CENTURY 21 Bessette Flavin
Investment Insights
Based on property information with market context.
Built in 2015, this two-story duplex contains 2,300 square feet with an open-concept living arrangement. The lower level has stained concrete floors, a kitchen equipped with wood cabinetry, range/oven, dishwasher, and refrigerator, plus a half bath. Upstairs, wood laminate flooring accompanies two bedrooms and Jack-and-Jill baths with separate sink and dressing areas.
A dedicated laundry room includes a washer and dryer and opens to a covered patio and fenced backyard. Central heat and air conditioning serve the property, while open parking is available at the front. The duplex is being offered together with 4418 Monticello Street.
A dedicated laundry room includes a washer and dryer and opens to a covered patio and fenced backyard. Central heat and air conditioning serve the property, while open parking is available at the front. The duplex is being offered together with 4418 Monticello Street.
Key Highlights
- 2,300‑square‑foot duplex built in 2015
- Two‑story layout with open‑concept living areas
- Two upstairs bedrooms with Jack‑and‑Jill baths
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
$15,190
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
6.09%
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%
$303,800
$303.8K
Cap Rate 7%
$217,000
$217.0K
Cap Rate 9%
$168,778
$168.8K
Market Conditions
NOI Build-Up for 2,300 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
$23.5K $10.20/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$21.7K $9.44/SF
− OpEx
−$6.5K −$2.83/SF
NOI
$15.2K $6.60/SF
Area
Calcasieu County, LA
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$303,800
Cap Rate 7%
$217,000
Cap Rate 9%
$168,778
Alternative Uses
Best Use
Multifamily LT 5
$217.0K
$189.9K – $253.2K
NOI $15,190 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$192.0K
$168.0K – $224.0K
NOI $13,440 @ 7.0% cap · market cap 5.39%
Theoretical Best
Specialty Retail
$495.8K
$433.8K – $578.4K
NOI $34,704 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with updated interior finishes, in-unit laundry, covered outdoor space, and central heating and air conditioning.
Where is this duplex located?
The property is located at 629 Louie Street Lake Charles, LA.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: 2,300‑square‑foot duplex built in 2015; Two‑story layout with open‑concept living areas; Two upstairs bedrooms with Jack‑and‑Jill baths
