602 Saint Joseph St · Lafayette, LA 70506

$189,000

3 bd · 2.0 ba · 1,742 sqft · SingleFamily public records · 97 Days on market

Built 1960 6,098 sqft lot $108/sqft · 20% below area Est $236k · 20% under ↓ 5% since listing

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Why this score? — see what drove the C- 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 +16.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stunning 3 bed, 2 bath home offers 1,742 sq ft of modern living with no detail overlooked. Enjoy vinyl plank flooring and fresh paint throughout, elegant granite countertops in every room, and a fully fenced backyard -- all on a private 0.14-acre lot. With a freshly painted exterior and completely updated interior, this move-in ready gem is waiting for you. Schedule your showing today!

Key facts

• Private lot
• Granite countertops
• Vinyl plank flooring

Tags

• VINYL PLANK FLOORING
• GRANITE COUNTERTOPS
• FULLY FENCED BACKYARD
• PRIVATE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (15.8% below list).
• Recommended offer: $159k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: J. Wallace James Elementary School (math 46% / reading 49%, grade D, #147 of 646 statewide, top 23%, 939 students, 64% FRL); Lafayette Middle School (math 12% / reading 29%, grade F, #161 of 218 statewide, top 76%, 369 students, 83% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 414 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 33% 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 97 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $36k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,115 (15.8% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 9.9

CMA / ARV

• ARV (median comp): $235,579
• List price: $189,000
• Delta: -19.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
211 Oleander St	0.20mi	3/2.0	1,649 (-5%)	1mo	$277,500	$168	81
605 Saint Frances St	0.27mi	3/2.0	1,668 (-4%)	6mo	$264,000	$158	76
707 Saint Patrick St	0.08mi	3/2.0	1,550 (-11%)	3mo	$180,000	$116	75
809 Saint Thomas St	0.21mi	3/2.0	1,576 (-10%)	5mo	$256,000	$162	70
842 St Thomas St	0.26mi	3/2.0	1,565 (-10%)	2mo	$239,500	$153	69
804 Oaklawn Ave	0.27mi	3/2.0	1,937 (+11%)	3mo	$350,000	$181	67
1000 Oaklawn Ave	0.28mi	3/2.0	1,972 (+13%)	3mo	$329,000	$167	63
102 White Cir	0.42mi	3/2.0	1,586 (-9%)	7mo	$235,000	$148	60
518 Evangeline Dr	0.54mi	3/2.0	1,579 (-9%)	2mo	$252,000	$160	58
220 Duclos St	0.53mi	3/2.5	1,913 (+10%)	4mo	$350,000	$183	53
7 Audubon Oaks Blvd	0.70mi	2/1.5 (-1)	1,481 (-15%)	6mo	$176,900	$119	31
15 Audubon Oaks Blvd	0.72mi	2/1.5 (-1)	1,485 (-15%)	8mo	$193,500	$130	29

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: -11.4%
• Equity multiple: 0.58×
• Total profit: $-22,182
• Equity at exit: $28,181

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-3,362
• Equity at exit: $16,341

Cash invested: $52,920 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,591 high
• Mortgage (P&I): −$991
• Tax from tax record: −$82 /mo · $983/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $105

Break-even live

Break-even rent $1,458

Max offer price $189,000

Occupancy floor 88%

Sensitivity live

Price	-10% $212	-5% $159	+0% $105	+5% $52	+10% $-2
Rent	-10% $-20	-5% $42	+0% $105	+5% $168	+10% $231
Rate	-1.0pp $200	-0.5pp $153	base $105	+0.5pp $56	+1.0pp $6

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
914 Saint Patrick St Lafayette, LA	2.0	1.0	1200	$1,295	$1.08	45d	1	0.11mi
419 Saint Joseph St Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	15d	1	0.15mi
517 Saint Patrick St Lafayette, LA	3.0	2.0	1600	$1,650	$1.03	22d	1	0.17mi
903 Myrtle Pl Lafayette, LA	3.0	2.0	2093	$2,000	$0.96	22d	1	0.21mi
313 Saint Thomas St Lafayette, LA	3.0	1.0	1265	$1,500	$1.19	22d	1	0.33mi
1312 W University Ave Lafayette, LA	3.0	2.0	1700	$1,300	$0.76	45d	1	0.36mi
215 Versailles Blvd Unit 3 Lafayette, LA	3.0	2.0	1800	$1,675	$0.93	22d	1	0.41mi
1114 W Congress St Lafayette, LA	2.0	1.0	1200	$1,350	$1.12	45d	1	0.45mi
1011 W Congress St Lafayette, LA	2.0	1.0	1181	$1,400	$1.19	45d	1	0.50mi
114 Carlin St Lafayette, LA	2.0	2.5	1200	$2,000	$1.67	45d	1	0.54mi
119 Saint Julien Ave Lafayette, LA	4.0	3.0	1600	$1,785	$1.12	45d	1	0.73mi
228 Amelia St Lafayette, LA	3.0	1.5	1796	$2,300	$1.28	22d	1	0.74mi
109 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	15d	1	0.74mi
117 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	22d	1	0.74mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	45d	1	0.78mi
104 Whittington Dr Unit C Lafayette, LA	2.0	2.5	1265	$1,695	$1.34	45d	1	0.83mi
104 Whittington Dr Unit N Lafayette, LA	2.0	1.5	1265	$1,550	$1.23	45d	1	0.84mi
121 Oakcrest Dr Lafayette, LA	3.0	2.0	1695	$1,700	$1.00	22d	1	0.89mi
111 Sternberg Dr Lafayette, LA	3.0	2.0	1050	$900	$0.86	45d	1	0.94mi
213 General Gardner Ave Lafayette, LA	3.0	1.0	1300	$1,750	$1.35	22d	1	0.94mi
244 N College Rd Lafayette, LA	3.0	2.0	1721	$2,000	$1.16	45d	1	0.96mi
300 General Mouton Ave #6 Lafayette, LA	2.0	2.5	1200	$1,600	$1.33	15d	1	0.98mi
330 General Mouton Ave Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	15d	1	1.03mi
908 Lamar St Unit 108 Lafayette, LA	2.0	1.0	1050	$1,025	$0.98	15d	1	1.06mi
312 Bertrand Dr #100 Lafayette, LA	2.0	2.0	1260	$1,400	$1.11	15d	1	1.09mi
300 Roosevelt St Unit A Lafayette, LA	2.0	2.0	1070	$1,750	$1.64	15d	1	1.21mi
1140 Madeline Ave Lafayette, LA	4.0	1.0	1225	$850	$0.69	45d	1	1.23mi
701 W Taft St #7 Lafayette, LA	2.0	2.5	1142	$1,600	$1.40	45d	1	1.28mi
208 Thelma Dr Lafayette, LA	2.0	1.0	1200	$1,200	$1.00	15d	1	1.29mi
710 S College Rd Lafayette, LA	2.0–3.0	1.0–2.0	1050	$1,307	$1.24	15d	12	1.37mi
100 Charolais St Unit B Lafayette, LA	2.0	2.0	1171	$1,100	$0.94	15d	1	1.39mi
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	45d	1	1.45mi
3121 Johnston St #121 Lafayette, LA	2.0	2.0	1200	$1,400	$1.17	45d	1	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $189,000 Active 97 DOM
2. 2026-06-18
   days on market $189,000 Active 94 DOM
3. 2026-06-17
   days on market $189,000 Active 93 DOM
4. 2026-06-16
   days on market $189,000 Active 92 DOM
5. 2026-06-15
   days on market $189,000 Active 91 DOM
6. 2026-06-14
   days on market $189,000 Active 89 DOM
7. 2026-06-13
   days on market $189,000 Active 88 DOM
8. 2026-06-10
   days on market $189,000 Active 86 DOM
9. 2026-06-09
   days on market $189,000 Active 85 DOM
10. 2026-06-08
    days on market $189,000 Active 84 DOM
11. 2026-06-07
    days on market $189,000 Active 83 DOM
12. 2026-06-05
    days on market $189,000 Active 80 DOM
13. 2026-06-03
    days on market $189,000 Active 79 DOM
14. 2026-06-02
    days on market $189,000 Active 78 DOM
15. 2026-06-01
    days on market $189,000 Active 77 DOM
16. 2026-05-31
    days on market $189,000 Active 76 DOM
17. 2026-05-30
    days on market $189,000 Active 75 DOM
18. 2026-05-12
    price $199,000 393-char remark

    Show marketing remark (393 chars)

    This stunning 3 bed, 2 bath home offers 1,742 sq ft of modern living with no detail overlooked. Enjoy vinyl plank flooring and fresh paint throughout, elegant granite countertops in every room, and a fully fenced backyard -- all on a private 0.14-acre lot. With a freshly painted exterior and completely updated interior, this move-in ready gem is waiting for you. Schedule your showing today!

19. 2026-04-30
    price $209,000 393-char remark

    Show marketing remark (393 chars)

    This stunning 3 bed, 2 bath home offers 1,742 sq ft of modern living with no detail overlooked. Enjoy vinyl plank flooring and fresh paint throughout, elegant granite countertops in every room, and a fully fenced backyard -- all on a private 0.14-acre lot. With a freshly painted exterior and completely updated interior, this move-in ready gem is waiting for you. Schedule your showing today!

20. 2026-04-16
    price $215,000 393-char remark

    Show marketing remark (393 chars)

    This stunning 3 bed, 2 bath home offers 1,742 sq ft of modern living with no detail overlooked. Enjoy vinyl plank flooring and fresh paint throughout, elegant granite countertops in every room, and a fully fenced backyard -- all on a private 0.14-acre lot. With a freshly painted exterior and completely updated interior, this move-in ready gem is waiting for you. Schedule your showing today!

21. 2026-03-16
    listed $225,000 Active 393-char remark

    Show marketing remark (393 chars)

    This stunning 3 bed, 2 bath home offers 1,742 sq ft of modern living with no detail overlooked. Enjoy vinyl plank flooring and fresh paint throughout, elegant granite countertops in every room, and a fully fenced backyard -- all on a private 0.14-acre lot. With a freshly painted exterior and completely updated interior, this move-in ready gem is waiting for you. Schedule your showing today!

22. 2023-06-26
    status Pending
23. 2023-06-23
    status Active
24. 2023-04-18
    status Active
25. 2023-04-18
    price $170,000
26. 2023-03-10
    status Pending
27. 2023-03-07
    listed $210,000 Active

ⓘ 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: $983 · $82/mo
• Projected year-2 tax: $1,040 · $87/mo
• Expected delta: +$57/yr (+$5/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,094
• − Mortgage interest: −$10,587
• − Property taxes: −$983
• − Insurance: −$945
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$5,498
• Taxable loss: −$1,974
• Est. tax savings @ 24.0%: +$474
• After-tax cash flow: $1,737/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

-5.2% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $199,000 AcadianaMLS
• 2026-04-30 Price Changed $209,000 AcadianaMLS
• 2026-04-16 Price Changed $215,000 AcadianaMLS
• 2026-03-16 Listed $225,000 AcadianaMLS
• 2023-06-26 Pending — AcadianaMLS
• 2023-06-23 Relisted — AcadianaMLS
• 2023-04-18 Relisted — AcadianaMLS
• 2023-04-18 Price Changed $170,000 AcadianaMLS
• 2023-03-10 Pending — AcadianaMLS
• 2023-03-07 Listed $210,000 AcadianaMLS

Property tax history

+27.0%/yr

Latest (2025): $983 · -1.1% YoY. Source: county tax records.