226&228 Soulanges Rd · Lafayette, LA 70508

$60,000

2 bd · 1.0 ba · 779 sqft · Other public records · 37 Days on market

Built 1940 0.65 ac lot $77/sqft · 61% below area

---

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
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer upper with potential! Nice size lot with a 2 bedroom 905 sq ft Frame home, a 14'x56' single wide mobile home and a 19'x24' storage building. All are in need of much work. Sellers inherited property and not much is known including age and septic system info. There is a septic system for each of the two dwellings. According to tenant, property did flood in the past with no recent flooding. Any tenant property doesn't remain. Home at 228 is occupied.

Key facts

• 0.65 acre lot
• Parking
• Built 1940

Property features AI

Exterior

• Parking: Carport; Open parking
• Utilities: Septic tank; Electric service: SLEMCO
• Home design: Single family residence; Fixer condition
• Construction: Wood siding and frame construction; Metal roof
• Exterior features: Metal roof; Wood siding; Framed construction; City street frontage

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Porch

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$176,788) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.4% 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: Milton Elementary School (math 49% / reading 64%, grade C+, #86 of 646 statewide, top 13%, 1,332 students, 39% FRL); Southside High School (math 52% / reading 53%, grade C-, #30 of 265 statewide, top 12%, 1,910 students, 39% FRL) — zoned schools average 39% FRL vs 56% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Lafayette Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.2%/yr); 464 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 + 1.2% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.20% ✓
• Cap rate: 19.35%
• Cash-on-cash: 46.64%
• DSCR: 3.08
• GRM: 3.8

CMA / ARV

• ARV (median comp): $176,788
• List price: $60,000
• Delta: -66.06%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 2.29×
• Total profit: $21,667
• Equity at exit: $8,946

10-year hold

• IRR: 37.6%
• Equity multiple: 4.18×
• Total profit: $53,346
• Equity at exit: $5,188

Cash invested: $16,800 (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 70508

• Home prices YoY: -34.7%
• Rents YoY: 1.2%
• Active inventory: 464
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,318 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$48 /mo · $580/yr
• Insurance: −$25
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $528

Break-even live

Break-even rent $650

Max offer price $60,000

Occupancy floor 55%

Sensitivity live

Price	-10% $562	-5% $545	+0% $528	+5% $511	+10% $494
Rent	-10% $424	-5% $476	+0% $528	+5% $580	+10% $632
Rate	-1.0pp $558	-0.5pp $543	base $528	+0.5pp $512	+1.0pp $496

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1312 E Broussard Rd Lafayette, LA	2.0	2.0	877	$1,450	$1.65	14d	6	1.12mi
502 Chemin Metairie Rd Unit B Youngsville, LA	2.0	1.5	1100	$995	$0.90	44d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $60,000 Active 37 DOM
2. 2026-06-17
   days on market $60,000 Active 36 DOM
3. 2026-06-16
   days on market $60,000 Active 35 DOM
4. 2026-06-15
   days on market $60,000 Active 34 DOM
5. 2026-06-14
   days on market $60,000 Active 32 DOM
6. 2026-06-13
   days on market $60,000 Active 31 DOM
7. 2026-06-10
   days on market $60,000 Active 29 DOM
8. 2026-06-09
   days on market $60,000 Active 28 DOM
9. 2026-06-08
   days on market $60,000 Active 27 DOM
10. 2026-06-07
    days on market $60,000 Active 26 DOM
11. 2026-06-05
    days on market $60,000 Active 23 DOM
12. 2026-06-03
    days on market $60,000 Active 22 DOM
13. 2026-06-02
    days on market $60,000 Active 21 DOM
14. 2026-06-01
    days on market $60,000 Active 20 DOM
15. 2026-05-31
    days on market $60,000 Active 19 DOM
16. 2026-05-30
    days on market $60,000 Active 18 DOM
17. 2026-05-12
    listed $60,000 Active 457-char remark

ⓘ 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: $580 · $48/mo
• Projected year-2 tax: $580 · $48/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 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 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: $15,812
• − Mortgage interest: −$3,361
• − Property taxes: −$580
• − Insurance: −$1,802
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$1,745
• Taxable income: $5,793
• Est. tax owed @ 24.0%: −$1,390
• After-tax cash flow: $4,943/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

• County: Lafayette Parish · 207,544 people
• City population: 158,114
• Metro: Lafayette, LA
• Population (ZIP): 40,592
• Household income: $86,005
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 1860.0

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 White (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 7% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 20% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -76.28%
• Current HPI: 143.6305
• Rent YoY: ▲ 1.23%
• 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

1 event — show timeline

• 2026-05-12 Listed $60,000 AcadianaMLS

Property tax history

+5.5%/yr

Latest (2025): $580 · +3.7% YoY. Source: county tax records.