Updated Duplex with Guest
For Sale
$249,900
653 Vic A Pitre Drive, Westwego, LA 70094
Updated two-unit property with a kitchen-equipped suite, fenced yard, carport, and dedicated workshop area.
Property Size1,491 SF
Price / SF$167.61
Days on Market213
Property Features for 653 Vic A Pitre Drive
General Information
Standard status
Active
Size
1,491 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fenced yard
carport
workshop area
Central Air
Central
1
3
4
INSIDE
Other
Pillar/Post/Pier
Vinyl Siding
Porch
Building Details
Year Built
1964
Buildings
1
Listing Agency:
CBTEC BELLE CHASSE
(504) 392-0022
Listed By:
Bonnie Buras · License #000052386
(504) 392-0022
Source:
Compass
Added: Jan 30
Changed: Aug 30
Last Checked: Aug 30 at 4:07PM
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 CBTEC BELLE CHASSE
Investment Insights
Based on property information with market context.
This 1,491-square-foot duplex, built in 1964, combines a three-bedroom, two-bath main residence with a separate one-bedroom, one-bath suite above the attached garage. The suite includes a full kitchen, while the main home features gray cabinetry, substantial counter space, wood-look flooring, white walls, and abundant natural light. Central air supports both everyday comfort and practical use.
Exterior features include a wood-fenced yard, porch, carport, and extended driveway with room for multiple vehicles. The attached garage also contains a dedicated workshop area with storage, adding useful space for projects, hobbies, or equipment. The property is located at 653 Vic A Pitre Drive in Westwego, Louisiana.
Exterior features include a wood-fenced yard, porch, carport, and extended driveway with room for multiple vehicles. The attached garage also contains a dedicated workshop area with storage, adding useful space for projects, hobbies, or equipment. The property is located at 653 Vic A Pitre Drive in Westwego, Louisiana.
Key Highlights
- 1,491‑square‑foot duplex built in 1964
- Main residence offers 3 bedrooms and 2 bathrooms
- Separate 1‑bedroom, 1‑bath suite with full kitchen
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
$16,362
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
6.55%
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%
$327,240
$327.2K
Cap Rate 7%
$233,743
$233.7K
Cap Rate 9%
$181,800
$181.8K
Market Conditions
NOI Build-Up for 1,491 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
$25.6K $17.16/SF
− Vacancy
−$2.2K −$1.48/SF
EGI
$23.4K $15.68/SF
− OpEx
−$7.0K −$4.70/SF
NOI
$16.4K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$327,240
Cap Rate 7%
$233,743
Cap Rate 9%
$181,800
Alternative Uses
Best Use
Multifamily LT 5
$233.7K
$204.5K – $272.7K
NOI $16,362 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$218.5K
$191.2K – $254.9K
NOI $15,296 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$393.4K
$344.2K – $458.9K
NOI $27,536 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 70094, LA
30,638
Population
13,683
Households
2.2
Avg Household Size
40
Median Age
14%
College-Educated
79%
High-School Grad
36.2 sq mi
ZIP Area
846
Density / Sq Mi
$52,657
Median Household Income
$36,079
Median Earnings
$1,172
Median Rent
$154,600
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 - Updated two-unit property with a kitchen-equipped suite, fenced yard, carport, and dedicated workshop area.
Where is this duplex located?
The property is located at 653 Vic A Pitre Drive Westwego, LA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,491‑square‑foot duplex built in 1964; Main residence offers 3 bedrooms and 2 bathrooms; Separate 1‑bedroom, 1‑bath suite with full kitchen
