NOT LISTED FOR SALE

507 Stevenson St Lafayette, LA 70501

Freetown-Port Rico Neighborhood

Estimated Value: $210,000 - $904,480

6 Beds
5 Baths
4,000 Sq Ft
$102/Sq Ft Est. Value

Last Sold January 20, 2017

Current estimated payment $2,403/month

224 Days on Market

Highlights

  • Window Unit Cooling System
  • Tile Flooring
  • Multiple Heating Units
  • Woodvale Elementary School Rated A-
  • Wood Siding

About This Home

As of January 2017

This is an opportunity to own a multi-family investment 2 blocks away from the second largest University in the state of Louisiana. University of Louisiana at Lafayette has an enrollment of 17,500 students and is growing every year. This property is one of the few multi-family buildings within 2 blocks of the University. All the work has been done for a buy and hold investor. All units have new roofs, paint, flooring, and fixtures to name a few. The properties are setup to be low maintenance for many years to come. Students are always looking for affordable housing close to campus. Most vacancies get filled within a week. The numbers break down like this: Gross Income of $62,700 - $15,000 expenses= $47,700 in net income. $47,700/$520,000= 9.1% Cap Rate. Solid investment overall between location, desirability, maintenance and ease of ownership. Don't let another great investment get away! ***DID NOT FLOOD!

Last Agent to Sell the Property

Stephen Hundley

Keller Williams Realty Acadiana Listed on: 04/28/2016

Last Buyer's Agent

Brandt Broussard

PRUDENTIAL SATURN, REALTORS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,600

Lot Details

  • 4,250 Sq Ft Lot
  • Lot Dimensions are 50 x 85

Home Design

  • Pillar, Post or Pier Foundation
  • Frame Construction
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 4,000 Sq Ft Home
  • 2-Story Property
  • Tile Flooring

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Full Bathrooms

Parking

  • 11 Parking Spaces
  • Assigned Parking

Schools

  • Woodvale Elementary School
  • L J Alleman Middle School
  • Lafayette High School

Utilities

  • Window Unit Cooling System
  • Central Air
  • Multiple Heating Units

Listing and Financial Details

  • Total Actual Rent $2,675
  • Tax Lot 13-17

Community Details

Overview

  • 3 Buildings
  • 9 Units
  • Barry Billeaud Subdivision

Building Details

  • 4 Leased Units
  • Insurance Expense $5,000
  • Maintenance Expense $3,000
  • New Taxes Expense $3,000
  • Operating Expense $15,000
  • Gross Income $62,700
  • Net Operating Income $47,700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,600

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.0976
  • Lot Size: 50 x 85
  • CapRate: 0.09173
  • Subdivision Name: Barry Billeaud
  • Directions: North on Johnston, Right on University, left on McKinley, right on Stevenson
  • Carport Y N: No
  • Garage Yn: No
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Unit 1(Other), Unit 2(Flat), Unit 3(Flat), Unit 4(Flat)
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 2

Interior Features

  • Number Of Buildings: 3
  • Appliances: Refrigerator
  • Full Bathrooms: 5
  • Total Bedrooms: 6
  • Flooring: Tile

Exterior Features

  • Construction Type: Frame, Wood Siding
  • Foundation Details: Pillar/Post/Pier
  • Property Condition: 51 - 75 Years
  • Roof: Composition

Garage/Parking

  • Parking Features: Assigned
  • Total Parking Spaces: 11

Utilities

  • Cooling: Window Unit(s), AC Unit(s)
  • Cooling Y N: Yes
  • Heating: Natural Natural Gas,Space Heater, Heat Unit(s)
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Schools

  • Elementary School: Woodvale
  • High School: Lafayette
  • Middle Or Junior School: L J Alleman

Lot Info

  • Lot Size Sq Ft: 4250
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units Total: 9
  • Annual Gross Income: 62700
  • Insurance Expense: 5000
  • Maintenance Expense: 3000
  • Property Net Operating Income: 47700
  • Number Of Units Leased: 4
  • Annual Operating Expense: 15000
  • Total Actual Rent: 2675

Tax Info

  • New Taxes Expense: 3000
  • Tax Lot: 13-17

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 30, 2025
Sold by
Kidr Ventures Llc
Bought by
Sharpest Square Llc
Current Estimated Value
$407,370
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Sharpest Square Llc $520,700 None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Eighth Note Properties Llc $270,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/20/2017 01/20/17 Sold -- -- --
12/09/2016 12/09/16 Pending -- -- --
04/28/2016 04/28/16 For Sale $550,000 -- $138 / Sq Ft
Source: REALTOR® Association of Acadiana

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,600 $15,208 $1,989 $13,219
2023 $1,600 $14,739 $1,989 $12,750
2022 $1,542 $14,739 $1,989 $12,750
2021 $1,547 $14,739 $1,989 $12,750
2020 $1,542 $14,739 $1,989 $12,750
2019 $1,215 $14,739 $1,989 $12,750
2018 $1,504 $14,739 $1,989 $12,750
2017 $1,222 $11,989 $1,989 $10,000
2015 $426 $4,180 $950 $3,230
2013 -- $4,180 $950 $3,230
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2017

    Stephen Hundley

    Keller Williams Realty Acadiana

  • B

    Buyer's Agent in 2017

    Brandt Broussard

    PRUDENTIAL SATURN, REALTORS

See All Agents

Map

Source: REALTOR® Association of Acadiana

MLS Number: 16004038

REALTOR® Association of Acadiana

APN: 6012395

Louisiana Lafayette Parish Lafayette 70501 Freetown-Port Rico

507 Stevenson St, Lafayette, LA

This home is located at 507 Stevenson St, Lafayette, LA 70501 since 28 April 2016 and is currently estimated at $407,370, approximately $101 per square foot. 507 Stevenson St is a home located in Lafayette Parish with nearby schools including Woodvale Elementary School, L.J. Alleman Middle School, and Lafayette High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

REALTOR® Association of Acadiana The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTOR® Association of Acadiana’ MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable, but not guaranteed accurate.

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