Renovated Two-Unit
For Sale
$280,000
638 Eddie Robinson Sr Dr, Baton Rouge, LA 70802
Both units are occupied under rental contracts extending through July 2027.
Property Size2,114 SF
Price / SF$132.45
Days on Market56
Property Features for 638 Eddie Robinson Sr Dr
General Information
Standard status
Active
Size
2,114 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
carport
in-unit laundry
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
eXp Realty
(225) 412-9982
Listed By:
Priya Jacob · License #B25009
Source:
Smithsquared
Added: Jul 9
Changed: Aug 29
Last Checked: Sep 1 at 9:05PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,114-square-foot duplex presents two updated residential units within an elevated two-story structure. The property underwent a complete renovation 6 years ago, with open living areas, wood-look plank flooring, stainless steel kitchen appliances, in-unit laundry, bonus or office rooms, and oversized windows. Each unit also includes a bathroom with a clawfoot soaking tub. A covered carport and additional off-street parking serve the property.
Located at 638 Eddie Robinson Sr Drive in Baton Rouge’s Downtown East area, the duplex sits within a National Historic District recognized in 2018. The property offers access to downtown Baton Rouge, LSU, the Mississippi River levee, and I-10/I-110. Both units are currently occupied, with rental contracts extending through July 2027. The roof, HVAC systems, and hot water heaters are 6 years old.
Located at 638 Eddie Robinson Sr Drive in Baton Rouge’s Downtown East area, the duplex sits within a National Historic District recognized in 2018. The property offers access to downtown Baton Rouge, LSU, the Mississippi River levee, and I-10/I-110. Both units are currently occupied, with rental contracts extending through July 2027. The roof, HVAC systems, and hot water heaters are 6 years old.
Key Highlights
- 2,114 SF duplex with two residential units
- Both units occupied under rental contracts through July 2027
- Complete renovation completed 6 years ago
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
$21,824
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
7.79%
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%
$436,480
$436.5K
Cap Rate 7%
$311,771
$311.8K
Cap Rate 9%
$242,489
$242.5K
Market Conditions
NOI Build-Up for 2,114 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
$32.7K $15.48/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$31.2K $14.75/SF
− OpEx
−$9.4K −$4.42/SF
NOI
$21.8K $10.32/SF
Area
Baton Rouge, LA
Vacancy
4.73%
Lease Rate
$15.48 /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%
$436,480
Cap Rate 7%
$311,771
Cap Rate 9%
$242,489
Alternative Uses
Best Use
Multifamily LT 5
$311.8K
$272.8K – $363.7K
NOI $21,824 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$276.5K
$242.0K – $322.6K
NOI $19,356 @ 7.0% cap · market cap 6.91%
Theoretical Best
Specialty Retail
$506.3K
$443.0K – $590.7K
NOI $35,440 @ 7.0% cap · market cap 12.66%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 70802, LA
26,519
Population
13,887
Households
1.9
Avg Household Size
29
Median Age
24%
College-Educated
82%
High-School Grad
7.1 sq mi
ZIP Area
3,735
Density / Sq Mi
$34,082
Median Household Income
$23,215
Median Earnings
$935
Median Rent
$105,100
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 - Both units are occupied under rental contracts extending through July 2027.
Where is this duplex located?
The property is located at 638 Eddie Robinson Sr Dr Baton Rouge, LA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2,114 SF duplex with two residential units; Both units occupied under rental contracts through July 2027; Complete renovation completed 6 years ago
