Three-Unit Rental
902 Suthon Avenue Unit 3 Houma, LA 70364
For Sale
$179,000
Front duplex and back garage apartment with all units rented, private laundry hookups, and mostly tenant-paid utilities.
Property Size2,225 SF
Price / SF$80.45
Days on Market906
Property Features for 902 Suthon Avenue Unit 3
General Information
- Standard status
- Active
- Size
- 2,225 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Listing Agency:
1 Percent Lists United
(985) 209-6063
Listed By:
Michele Palmer · License #995703247
(985) 209-6063
Source:
Compass
Added: Jan 30, 2024
Changed: Jul 22
Last Checked: Jul 23 at 10:35AM
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 1 Percent Lists United
Investment Insights
Based on property information with market context.
This property features a duplex in the front and a garage apartment in the back, forming a three-unit rental layout. The front duplex is reported to be in good condition, with a new roof installed after Ida. The back garage apartment is described as very low maintenance, and all three units are currently rented.
Each unit includes private laundry hookups, and utilities are mostly tenant-paid. The current setup is intended to provide immediate rental income for a new owner, and the property is positioned in a convenient area with access to local services and transportation. The seller is offering a $5,000 credit with an acceptable offer. Contact us to schedule a viewing and review details.
Each unit includes private laundry hookups, and utilities are mostly tenant-paid. The current setup is intended to provide immediate rental income for a new owner, and the property is positioned in a convenient area with access to local services and transportation. The seller is offering a $5,000 credit with an acceptable offer. Contact us to schedule a viewing and review details.
Key Highlights
- Duplex in front plus back garage apartment; 3 units total, all currently rented
- Rents provide immediate steady income of over $2,000 for the new owner
- All units have private laundry hookups; mostly tenant‑paid utilities
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.1k | $13.08 |
| − Vacancy | −$2.6k | −$1.19 |
| EGI | $26.5k | $11.89 |
| − OpEx | −$11.9k | −$5.35 |
| NOI | $14.6k | $6.54 |
2,225 SF · lease $13.08/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$239.1K
$209.2K – $278.9K
NOI $16,734 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$207.9K
$181.9K – $242.5K
NOI $14,550 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$613.3K
$536.7K – $715.6K
NOI $42,934 @ 7.0% cap · market cap 23.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Front duplex and back garage apartment with all units rented, private laundry hookups, and mostly tenant-paid utilities.
Where is this triplex located?
The property is located at 902 Suthon Avenue Unit 3 Houma, LA.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Duplex in front plus back garage apartment; 3 units total, all currently rented; Rents provide immediate steady income of over $2,000 for the new owner; All units have private laundry hookups; mostly tenant‑paid utilities
