Two-Unit
For Sale
$240,000
813 Wood St, Houma, LA 70360
Residential Income, Houma, LA
Property Size2,241 SF
Lot Size0.16 Acres
Price / SF$107.10
Days on Market234
Property Features for 813 Wood St
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
On Street
Interior features
Units Vary
Appliances
Washer/Dryer All, Microwave, Range/Oven, Refrigerator
Subdivision
City Of Houma
Elementary school district
Terrebonne Parish
Middle school district
Terrebonne Parish
High school district
Terrebonne Parish
Standard status
Active
Size
2,241 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 9 BLOCK 57 LOVENSTEIN ADDITION.
Legal Description
LOT 9 BLOCK 57 LOVENSTEIN ADDITION.
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Flooring type
Wood, Tile, Vinyl, Tile - Ceramic
Building materials
Asbestos Siding
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
(985) 262-4400
Listed By:
Kristy Hebert Graham · License #995685757
(985) 991-8206
Added: Jan 13
Changed: Aug 19
Last Checked: Sep 4 at 4:06AM
MLS# 2026000787
Copyright © 2026 Bayou Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 2,241 square feet within a 0.157-acre parcel and is configured as two distinct units in one building. Interior finishes include wood, tile, ceramic tile, and vinyl flooring, while central heating and central air serve the property. Each unit includes access to shared listed appliances, including a washer and dryer, microwave, range/oven, and refrigerator.
Located at 813 Wood St in Houma, the property is in the downtown area, with dining, shopping, entertainment, local businesses, and other amenities described as nearby. The site is served by public water and public sewer. Parking is provided on the street, and the building has a shingle roof with asbestos siding.
Located at 813 Wood St in Houma, the property is in the downtown area, with dining, shopping, entertainment, local businesses, and other amenities described as nearby. The site is served by public water and public sewer. Parking is provided on the street, and the building has a shingle roof with asbestos siding.
Key Highlights
- 2,241‑square‑foot duplex on a 0.157‑acre parcel
- Two distinct units within one building
- Central heating and central air
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences share one building, with central heating and cooling near downtown Houma amenities.
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: 2,241‑square‑foot duplex on a 0.157‑acre parcel; Two distinct units within one building; Central heating and central air
