405 N Buchanan St · Lafayette, LA 70501

$80,000

2 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 183 Days on market

Built 1917 0.27 ac lot $54/sqft · 50% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

Key facts

• Large windows
• Large door moldings
• Wood accent walls

Tags

• WOOD ACCENT WALLS
• LARGE DOOR MOLDINGS
• HIGH CEILINGS
• WALK IN STORAGE PANTRY
• LARGE WINDOWS
• PRIVACY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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.
• Market conditions: Rents rising fast (+7.3%/yr); 246 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• At $1,252/mo this rent would consume 45% of the median local household income ($33k/yr) (locally 2089% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $35k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $80k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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: 1.56% ✓
• Cap rate: 13.72%
• Cash-on-cash: 26.54%
• DSCR: 2.18
• GRM: 5.3

CMA / ARV

• ARV (median comp): $161,212
• List price: $80,000
• Delta: -50.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 N Buchanan St	0.00mi	2/2.0	1,507 (+1%)	0mo	$65,000	$43	98
519 Mudd Ave	0.30mi	3/2.0 (+1)	1,412 (-5%)	9mo	$145,000	$103	65
314 Monroe St	0.29mi	3/2.0 (+1)	1,360 (-9%)	7mo	$194,900	$143	61
123 Park Ave	0.55mi	2/2.0	1,613 (+8%)	2mo	$155,000	$96	59
305 N Magnolia St	0.33mi	3/1.0 (+1)	1,540 (+4%)	22mo	$53,000	$34	51
217 S Orange St	0.62mi	3/2.0 (+1)	1,490 (+0%)	18mo	$100,000	$67	51
528 Lafayette St	0.48mi	3/1.0 (+1)	1,400 (-6%)	20mo	$175,000	$125	42
126 Hayes Dr	0.71mi	3/2.0 (+1)	1,350 (-9%)	17mo	$146,500	$109	32
1018 W Simcoe St	0.65mi	3/1.5 (+1)	1,284 (-14%)	20mo	$64,000	$50	23

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 · 7.35% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.08×
• Total profit: $24,288
• Equity at exit: $11,928

10-year hold

• IRR: 35.2%
• Equity multiple: 4.90×
• Total profit: $87,381
• Equity at exit: $6,917

Cash invested: $22,400 (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 70501

• Rents YoY: 7.3%
• Active inventory: 246
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$420
• Tax from tax record: −$41 /mo · $490/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $495

Break-even live

Break-even rent $625

Max offer price $80,000

Occupancy floor 55%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 Hobson St Lafayette, LA	3.0	1.0	1000	$1,100	$1.10	21d	1	0.15mi
206 N Washington St Lafayette, LA	3.0	1.0	900	$900	$1.00	21d	1	0.32mi
319 Tissington St Lafayette, LA	2.0	1.0	956	$775	$0.81	43d	1	0.48mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	43d	1	0.49mi
114 Carlin St Lafayette, LA	2.0	2.5	1200	$2,000	$1.67	43d	1	0.70mi
117 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	21d	1	0.70mi
109 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	13d	1	0.70mi
1011 W Congress St Lafayette, LA	2.0	1.0	1181	$1,400	$1.19	43d	1	0.72mi
1114 W Congress St Lafayette, LA	2.0	1.0	1200	$1,350	$1.12	43d	1	0.78mi
124 E Main St Lafayette, LA	1.0	1.0	789	$1,380	$1.75	13d	7	0.78mi
215 Versailles Blvd Unit 3 Lafayette, LA	3.0	2.0	1800	$1,675	$0.93	21d	1	0.85mi
503 Joan St Lafayette, LA	3.0	2.0	1000	$1,400	$1.40	21d	1	0.86mi
1312 W University Ave Lafayette, LA	3.0	2.0	1700	$1,300	$0.76	43d	1	0.86mi
1120 S Washington St Unit B Lafayette, LA	3.0	2.0	1030	$2,400	$2.33	13d	1	0.95mi
1120 S Washington St Unit A Lafayette, LA	2.0	2.0	892	$2,200	$2.47	13d	1	0.95mi
317 W University Ave Apt 4 Lafayette, LA	1.0	1.0	1000	$1,100	$1.10	43d	1	1.08mi
213 General Gardner Ave Lafayette, LA	3.0	1.0	1300	$1,750	$1.35	21d	1	1.14mi
908 Saint Charles St Lafayette, LA	3.0	2.0	1200	$1,250	$1.04	21d	1	1.15mi
810 Fairmont Ln Lafayette, LA	3.0	1.0	1000	$992	$0.99	43d	1	1.16mi
111 Sternberg Dr Lafayette, LA	3.0	2.0	1050	$900	$0.86	43d	1	1.16mi
300 General Mouton Ave #6 Lafayette, LA	2.0	2.5	1200	$1,600	$1.33	13d	1	1.16mi
908 Lamar St Unit 108 Lafayette, LA	2.0	1.0	1050	$1,025	$0.98	13d	1	1.17mi
228 Amelia St Lafayette, LA	3.0	1.5	1796	$2,300	$1.28	21d	1	1.18mi
330 General Mouton Ave Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	13d	1	1.19mi
610 Sunset Dr Lafayette, LA	2.0	1.0	1000	$800	$0.80	43d	1	1.25mi
914 Saint Patrick St Lafayette, LA	2.0	1.0	1200	$1,295	$1.08	43d	1	1.25mi
419 Saint Joseph St Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	13d	1	1.26mi
246 Paul Breaux Ave Lafayette, LA	3.0	1.0	989	$1,100	$1.11	43d	1	1.28mi
111 Dora St Lafayette, LA	3.0	1.0	1000	$750	$0.75	43d	1	1.29mi
300 Roosevelt St Unit A Lafayette, LA	2.0	2.0	1070	$1,750	$1.64	13d	1	1.32mi
517 Saint Patrick St Lafayette, LA	3.0	2.0	1600	$1,650	$1.03	21d	1	1.32mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	13d	1	1.32mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	21d	1	1.32mi
313 Saint Thomas St Lafayette, LA	3.0	1.0	1265	$1,500	$1.19	21d	1	1.41mi

Listing history 10 events

1. 2026-05-05
   price $80,000 554-char remark

   Show marketing remark (554 chars)

   Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

2. 2026-04-06
   price $90,000 554-char remark

   Show marketing remark (554 chars)

   Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

3. 2026-03-16
   price $95,000 554-char remark

   Show marketing remark (554 chars)

   Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

4. 2026-02-23
   price $99,900 554-char remark

   Show marketing remark (554 chars)

   Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

5. 2026-01-05
   price $110,000 554-char remark

   Show marketing remark (554 chars)

   Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

6. 2025-11-21
   listed $115,000 Active 554-char remark

   Show marketing remark (554 chars)

   Charming cottage home with personality and style! This 2 bedroom, 2 bath home has comfort and function with 1507sf of living space. Wood accent walls, large door moldings, high ceilings, centermatch ceilings, walk in storage pantry area, large windows for abundant natural light give this home its distinctive charm. Privacy fenced backyard for your intown garden, or 'ready to make' oasis. Also included are two more parcels of land that connect behind the property. Looking for charm with extra lots to expand - this home and property are for you!

7. 2021-06-15
   soldstatus $48,000 75-char remark

   Show marketing remark (75 chars)

   Great investment opportunity. Some improvements made, needs a little work.

8. 2021-06-15
   soldstatus $48,000

   Show marketing remark (75 chars)

   Great investment opportunity. Some improvements made, needs a little work.

9. 2021-03-28
   listed $50,000 75-char remark

   Show marketing remark (75 chars)

   Great investment opportunity. Some improvements made, needs a little work.

10. 2019-10-31
    soldstatus $14,000

ⓘ 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: $490 · $41/mo
• Projected year-2 tax: $490 · $41/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 X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 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: $15,023
• − Mortgage interest: −$4,481
• − Property taxes: −$490
• − Insurance: −$400
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$2,327
• Taxable income: $4,921
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $4,763/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): 26,465
• Household income: $33,365
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2089.0

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: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 18% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 2%

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: ▼ -108.63%
• Current HPI: 81.2963
• Rent YoY: ▲ 7.35%
• 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

+471.4% since first listed

10 events — show timeline

• 2026-05-05 Price Changed $80,000 AcadianaMLS
• 2026-04-06 Price Changed $90,000 AcadianaMLS
• 2026-03-16 Price Changed $95,000 AcadianaMLS
• 2026-02-23 Price Changed $99,900 AcadianaMLS
• 2026-01-05 Price Changed $110,000 AcadianaMLS
• 2025-11-21 Listed $115,000 AcadianaMLS
• 2021-06-15 Sold (Public Records) $48,000 Public Records
• 2021-06-15 Sold (MLS) $48,000 AcadianaMLS
• 2021-03-28 Listed $50,000 AcadianaMLS
• 2019-10-31 Sold (Public Records) $14,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $490 · -1.1% YoY. Source: county tax records.