Two-Unit Duplex
For Sale
$110,000
903 First St., Morgan City, LA 70380
One residence is leased, while the second includes an office or bonus area and requires repair.
Property Size800 SF
Price / SF$137.50
Days on Market8
Property Features for 903 First St.
General Information
Standard status
Active
Size
800 SF
Property subtype
Multi-Unit (2-4)
Amenities
Asphalt Roof
Sewer Type: Municipal
Percentage of Tax that is Deductable: 0
Hardwood Floor
Garage Type: Attached, One Garage Space
Wall/Window AC: 1
No Heat
Kitchen
Sale, Sale Type: Foreclosure
School District: St. Mary Parish
2 Bedrooms
Residential Style: Traditional
Property Zone Type: 100, Above Area Square Feet: 800, Street View
One Full Bath
Water Source: Municipal
Living Room
Construction Type: Frame
Corner Unit
Wood Siding
Oven, Refrigerator
Listing Agency:
Associates of Preferred Realty
Listed By:
Glen Elliott · License #995682141
(985) 399-1414
Source:
Doyle-realty
Added: Aug 31
Changed: Sep 6
Last Checked: Sep 7 at 8:01AM
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 Associates of Preferred Realty
Investment Insights
Based on property information with market context.
This duplex includes two separate residences. The home at 903 First St. has two bedrooms and one bathroom and is currently leased. The residence at 115 Brashear Ave. also provides two bedrooms and one bathroom, along with an office or bonus area; this unit requires repair.
Both addresses are identified within the Morgan City, Louisiana property record. The property is associated with M. E. Norman Elementary School, Morgan City Junior High School, and Morgan City High School in the St. Mary Parish School District. Measurements and flood-zone classification require buyer verification.
Both addresses are identified within the Morgan City, Louisiana property record. The property is associated with M. E. Norman Elementary School, Morgan City Junior High School, and Morgan City High School in the St. Mary Parish School District. Measurements and flood-zone classification require buyer verification.
Key Highlights
- Two separate residences at 903 First St. and 115 Brashear Ave.
- 903 First St. residence has 2 bedrooms and 1 bathroom
- 903 First St. unit is currently leased
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
$4,662
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
4.24%
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%
$93,240
$93.2K
Cap Rate 7%
$66,600
$66.6K
Cap Rate 9%
$51,800
$51.8K
Market Conditions
NOI Build-Up for 800 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
$7.2K $9.00/SF
− Vacancy
−$540 −$0.68/SF
EGI
$6.7K $8.33/SF
− OpEx
−$2.0K −$2.50/SF
NOI
$4.7K $5.83/SF
Area
St. Mary County, LA
Vacancy
7.50%
Lease Rate
$9.00 /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%
$93,240
Cap Rate 7%
$66,600
Cap Rate 9%
$51,800
Alternative Uses
Best Use
Multifamily LT 5
$66.6K
$58.3K – $77.7K
NOI $4,662 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$59.8K
$52.3K – $69.7K
NOI $4,183 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$136.5K
$119.4K – $159.3K
NOI $9,555 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
632
Businesses Nearby
Explore this area
Business Placement
Demographics for 70380, LA
21,079
Population
9,739
Households
2.2
Avg Household Size
40
Median Age
13%
College-Educated
77%
High-School Grad
77.7 sq mi
ZIP Area
271
Density / Sq Mi
$54,504
Median Household Income
$40,731
Median Earnings
$876
Median Rent
$138,300
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 - One residence is leased, while the second includes an office or bonus area and requires repair.
Where is this duplex located?
The property is located at 903 First St. Morgan City, LA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two separate residences at 903 First St. and 115 Brashear Ave.; 903 First St. residence has 2 bedrooms and 1 bathroom; 903 First St. unit is currently leased
