206 Open Meadows Dr · Lafayette, LA 70506

$199,900

3 bd · 2.0 ba · 1,616 sqft · SingleFamily public records · 65 Days on market

Built 1986 6,534 sqft lot $124/sqft · 9% below area Est $221k · 9% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.1/30.0
• ARV discount +11.7/15.0
• DSCR +4.3/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SUBJECT PROPERTY IS BEING SOLD IN ''AS IS'' CONDITION. FLOOD ZONE A.

Key facts

• Open concept living
• Covered patio
• Quiet neighborhood

Tags

• OPEN CONCEPT LIVING
• COZY WOOD BURNING FIREPLACE
• COVERED PATIO
• QUIET NEIGHBORHOOD
• TWO CAR CARPORT
• SOLAR PANELS

Property features AI

Finance

• HOA & community: Associaton present

Exterior

• Parking: Attached carport; 2 covered parking spaces; Open parking (total 2 spaces)
• Utilities: Public sewer; City electric
• Home design: Single family residence; City street frontage (paved); Residential zoning
• Construction: Brick veneer and wood siding with frame construction; Composition roof
• Exterior features: Exterior lighting; Covered and open porch/patio; Shed(s)/storage

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator; Electric stove/oven
• Flooring: Concrete; Vinyl tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Beamed ceilings; Varied ceiling heights; Vaulted ceilings; Walk-in closet(s); Cultured marble counters; Formica counters; Window treatments; Double-pane windows
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (17.5% below list).
• Recommended offer: $165k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.7% in Lafayette — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#63 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, crime F.
• Lafayette Parish (urban): math 38% / reading 46% proficiency, ranked #19 of 98 in LA (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Elementary School (math 45% / reading 55%, grade D+, #125 of 646 statewide, top 20%, 606 students, 55% FRL); Scott Middle School (math 20% / reading 28%, grade F, #143 of 218 statewide, top 65%, 559 students, 65% FRL); Acadiana High School (math 31% / reading 29%, grade F, #125 of 265 statewide, top 47%, 1,813 students, 56% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 414 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent runs 34% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lafayette County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $200k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,910 (17.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.65%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (median comp): $220,580
• List price: $199,900
• Delta: -9.38%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 Cadet Ln	0.16mi	3/2.0	1,550 (-4%)	0mo	$180,000	$116	86
200 Sleepy Hollow Dr	0.06mi	3/2.0	1,746 (+8%)	3mo	$187,500	$107	81
109 Cadet Ln	0.19mi	3/2.0	1,759 (+9%)	0mo	$222,500	$126	76
200 Babbling Brook Dr	0.06mi	3/2.0	1,802 (+12%)	2mo	$219,999	$122	76
109 Saint Nicholas Dr	0.67mi	3/2.0	1,623 (+0%)	1mo	$198,000	$122	68
106 Saint Nicholas Dr	0.69mi	3/2.0	1,600 (-1%)	4mo	$210,000	$131	63
120 Betrillo Ct	0.54mi	4/2.0 (+1)	1,568 (-3%)	3mo	$249,107	$159	62
121 Case Ln	0.59mi	4/2.0 (+1)	1,686 (+4%)	1mo	$210,000	$125	60
118 Betrillo Ct	0.54mi	3/2.0	1,463 (-10%)	3mo	$237,320	$162	56
201 Huggins Rd	0.69mi	3/2.0	1,524 (-6%)	3mo	$205,000	$135	56
221 Alpine Dr	0.54mi	3/2.0	1,388 (-14%)	2mo	$215,000	$155	49
206 Dublin Cir Unit E	0.62mi	2/2.5 (-1)	1,420 (-12%)	4mo	$110,000	$77	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-36,510
• Equity at exit: $29,806

10-year hold

• IRR: -8.6%
• Equity multiple: 0.44×
• Total profit: $-31,530
• Equity at exit: $17,284

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70506

• Home prices YoY: -34.8%
• Rents YoY: 4.1%
• Active inventory: 414
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$141 /mo · $1,688/yr
• Insurance: −$83
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-95

Break-even live

Break-even rent $1,769

Max offer price $183,170

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-38	+0% $-95	+5% $-151	+10% $-208
Rent	-10% $-225	-5% $-160	+0% $-95	+5% $-30	+10% $36
Rate	-1.0pp $6	-0.5pp $-44	base $-95	+0.5pp $-147	+1.0pp $-199

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Wilbourn Blvd #304 Lafayette, LA	2.0	1.5	1150	$1,275	$1.11	45d	1	0.49mi
101 Wilbourn Blvd #503 Lafayette, LA	2.0	1.5	1100	$1,300	$1.18	15d	1	0.50mi
401 Strasbourg Dr Lafayette, LA	3.0	2.0	1500	$1,450	$0.97	45d	1	0.62mi
108 Appleoak Ave Unit B Lafayette, LA	2.0	2.5	1348	$1,495	$1.11	45d	1	0.62mi
204 Dublin Cir Unit A Lafayette, LA	3.0	2.5	2200	$1,895	$0.86	15d	1	0.65mi
203 Crystal Ln Lafayette, LA	3.0	2.0	1200	$1,550	$1.29	15d	1	0.69mi
111 Valencia Dr Lafayette, LA	3.0	2.0	1678	$1,750	$1.04	45d	1	0.84mi
106 Seattle St Lafayette, LA	3.0	2.0	1480	$1,900	$1.28	45d	1	0.90mi
105 San Carlos Cir Lafayette, LA	3.0	2.0	1580	$1,600	$1.01	45d	1	0.95mi
123 Highland Dr Lafayette, LA	3.0	2.0	1550	$1,700	$1.10	23d	1	1.04mi
655 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$1,196	$1.33	15d	14	1.10mi
715 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$990	$1.10	45d	5	1.14mi
113 Faculty Dr Lafayette, LA	4.0	1.5	1321	$1,495	$1.13	15d	1	1.19mi
300 Highland Dr Lafayette, LA	4.0	2.0	2200	$1,900	$0.86	45d	1	1.22mi
201 Castle Row Lafayette, LA	3.0	2.0	1595	$1,800	$1.13	15d	1	1.33mi
1313 Apollo Rd Scott, LA	1.0–3.0	1.0–2.0	1100	$2,000	$1.82	15d	10	1.41mi
401 Pinto St Lafayette, LA	3.0	2.0	1601	$2,300	$1.44	45d	1	1.41mi
106 Maple Dr Lafayette, LA	3.0	2.0	1800	$2,100	$1.17	15d	1	1.43mi
108 Notre Dame Dr Lafayette, LA	3.0	3.0	1700	$1,700	$1.00	45d	1	1.45mi
118 Millie Park Lafayette, LA	3.0	2.0	1200	$1,750	$1.46	23d	1	1.49mi

Listing history 21 events

1. 2026-06-21
   days on market $199,900 Active 65 DOM
2. 2026-06-18
   days on market $199,900 Active 62 DOM
3. 2026-06-17
   days on market $199,900 Active 61 DOM
4. 2026-06-16
   days on market $199,900 Active 60 DOM
5. 2026-06-15
   days on market $199,900 Active 59 DOM
6. 2026-06-14
   days on market $199,900 Active 57 DOM
7. 2026-06-13
   days on market $199,900 Active 56 DOM
8. 2026-06-10
   days on market $199,900 Active 54 DOM
9. 2026-06-09
   days on market $199,900 Active 53 DOM
10. 2026-06-08
    days on market $199,900 Active 52 DOM
11. 2026-06-07
    days on market $199,900 Active 51 DOM
12. 2026-06-05
    days on market $199,900 Active 48 DOM
13. 2026-06-03
    days on market $199,900 Active 47 DOM
14. 2026-06-02
    days on market $199,900 Active 46 DOM
15. 2026-06-01
    days on market $199,900 Active 45 DOM
16. 2026-05-31
    days on market $199,900 Active 44 DOM
17. 2026-05-30
    pricedays on market $199,900 Active 43 DOM
18. 2026-05-01
    price $215,000 820-char remark
19. 2026-04-17
    listed $225,000 Active 820-char remark
20. 2000-03-29
    soldstatus $87,500 68-char remark

    Show marketing remark (68 chars)

    SUBJECT PROPERTY IS BEING SOLD IN ''AS IS'' CONDITION. FLOOD ZONE A.

21. 2000-02-24
    listed $85,000 68-char remark

    Show marketing remark (68 chars)

    SUBJECT PROPERTY IS BEING SOLD IN ''AS IS'' CONDITION. FLOOD ZONE A.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $1,688 · $141/mo
• Projected year-2 tax: $1,688 · $141/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone A · 17% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,789
• − Mortgage interest: −$11,198
• − Property taxes: −$1,688
• − Insurance: −$2,502
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$5,815
• Taxable loss: −$4,580
• Est. tax savings @ 24.0%: +$1,099
• After-tax cash flow: $-37/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lafayette Parish
• NCES district ID: 2200870
• Math proficiency: 38% ▼ -32.00%
• Reading proficiency: 46% ▼ -24.00%
• Median HH income: $50,238
• Composite: 36.15/100
• National rank: #4741
• State rank: #19 of 98 in LA

Livability — Lafayette

• Score: 70/100
• State rank: #63
• US rank: #8133

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lafayette, LA
• County: Lafayette Parish · 207,544 people
• City population: 158,114
• Metro: Lafayette, LA
• Population (ZIP): 42,318
• Household income: $57,379
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 2095.0

Population outlook (Lafayette County) Hauer SSP2

• Today (2025): 280,930 people
• By 2030: 301,092 · +7.2%
• By 2040: 339,456 · +20.8%
• By 2050: 375,156 · +33.5%
• By 2075: 451,672 · +60.8%
• By 2100: 497,203 · +77.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 20% Hispanic / Latino 13% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 18% Armenian 1% Slovak 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 9% French/Haitian/Cajun 3% Vietnamese 1%

Political lean MEDSL · Lafayette

• 2024 margin: Solid R (+31.4) · D 33.5% · R 64.8% · Other 1.7%
• 2008→2024 swing: -0.1pp no change · 2008: -31.3pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+28.7 2016: R+33.6 2012: R+33.7 2008: R+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.28%
• Current HPI: 140.8445
• Rent YoY: ▲ 4.12%
• Metro: Lafayette, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+135.2% since first listed

5 events — show timeline

• 2026-05-29 Price Changed $199,900 AcadianaMLS
• 2026-05-01 Price Changed $215,000 AcadianaMLS
• 2026-04-17 Listed $225,000 AcadianaMLS
• 2000-03-29 Sold (MLS) $87,500 AcadianaMLS
• 2000-02-24 Listed $85,000 AcadianaMLS

Property tax history

+7.4%/yr

Latest (2025): $1,688 · -1.1% YoY. Source: county tax records.