Maintained Two-Unit
For Sale
$240,000
813 Wood St, Houma, LA 70360
Separate residences under one roof offer flexible occupancy in downtown Houma near dining, shopping, and entertainment.
Property Size2,241 SF
Price / SF$107.10
Days on Market10
Property Features for 813 Wood St
General Information
Standard status
Active
Size
2,241 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
Listed By:
Kristy Hebert Graham, BILL BOYD
Source:
Smithsquared
Added: Aug 24
Changed: Aug 30
Last Checked: Sep 1 at 10:14PM
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 KELLER WILLIAMS REALTY BAYOU P
Investment Insights
Based on property information with market context.
This duplex contains two fully separate residential units within a single 2,241-square-foot structure. Both residences have been maintained and include living areas designed for everyday comfort and functionality. Classic architectural elements contribute to the property’s character, while the two-unit arrangement supports flexible use for an owner-occupant or rental operation.
The property is located in downtown Houma at 813 Wood St. Dining, shopping, entertainment, local businesses, and other downtown amenities are situated nearby, giving residents convenient access to daily services and leisure activities. The combination of two independent units, established residential improvements, and a central downtown setting creates a practical multifamily property configuration.
The property is located in downtown Houma at 813 Wood St. Dining, shopping, entertainment, local businesses, and other downtown amenities are situated nearby, giving residents convenient access to daily services and leisure activities. The combination of two independent units, established residential improvements, and a central downtown setting creates a practical multifamily property configuration.
Key Highlights
- Two separate residential units within one structure
- 2,241‑square‑foot duplex
- Maintained interiors in both units
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
$16,854
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
7.02%
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%
$337,080
$337.1K
Cap Rate 7%
$240,771
$240.8K
Cap Rate 9%
$187,267
$187.3K
Market Conditions
NOI Build-Up for 2,241 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
$26.4K $11.76/SF
− Vacancy
−$2.3K −$1.02/SF
EGI
$24.1K $10.74/SF
− OpEx
−$7.2K −$3.22/SF
NOI
$16.9K $7.52/SF
Area
Terrebonne County, LA
Vacancy
8.64%
Lease Rate
$11.76 /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%
$337,080
Cap Rate 7%
$240,771
Cap Rate 9%
$187,267
Alternative Uses
Best Use
Multifamily LT 5
$240.8K
$210.7K – $280.9K
NOI $16,854 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$209.4K
$183.2K – $244.3K
NOI $14,655 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$617.7K
$540.5K – $720.7K
NOI $43,242 @ 7.0% cap · market cap 18.02%
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
1,463
Businesses Nearby
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
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 - Separate residences under one roof offer flexible occupancy in downtown Houma near dining, shopping, and entertainment.
Where is this duplex located?
The property is located at 813 Wood St Houma, LA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two separate residential units within one structure; 2,241‑square‑foot duplex; Maintained interiors in both units
