813 N Prater St N · Lake Charles, LA 70601

$134,000

3 bd · 2.0 ba · 1,113 sqft · SingleFamily · 246 Days on market

Built 2015 7,840 sqft lot $120/sqft · 12% above area Est $119k · 12% over ↓ 4% since listing

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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 +22.3/30.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 813 N Prater Street, a well-maintained one owner home offering comfort, convenience, and charm. Built just 10 years ago, this 3-bedroom, 2-bath home features 1,113 sq ft of thoughtfully designed living space perfect for first-time buyers, downsizers, or investors! Step inside to an inviting open floor plan with a spacious living area, a functional kitchen with plenty of cabinet space, and a cozy dining area. The primary suite includes a private bath, while two additional bedrooms providing space for guests, a home office, or hobbies. Enjoy peace of mind with a fully fenced yard, ideal for pets, kids, or weekend gatherings. Located in an established neighborhood with easy access to downtown Lake Charles, schools, shopping, and major roadways.

Key facts

• Functional kitchen
• Open floor plan
• Fully fenced yard

Tags

• OPEN FLOOR PLAN
• FUNCTIONAL KITCHEN
• FULLY FENCED YARD
• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.3% in Lake Charles — 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 68/100 on livability (#95 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment D-.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.2%/yr); 364 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• This rent runs 32% of the median local income ($50k/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 $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $117,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 1.00% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.09%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (median comp): $119,233
• List price: $134,000
• Delta: 12.38%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 N Malcolm St St N	0.63mi	3/1.5	1,100 (-1%)	6mo	$95,000	$86	62
410 Adams St	0.48mi	3/2.0	1,250 (+12%)	11mo	$130,000	$104	48

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-3,178
• Equity at exit: $19,980

10-year hold

• IRR: 10.5%
• Equity multiple: 1.93×
• Total profit: $34,750
• Equity at exit: $11,586

Cash invested: $37,520 (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 70601

• Rents YoY: 6.2%
• Active inventory: 364
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$82 /mo · $989/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $222

Break-even live

Break-even rent $1,065

Max offer price $134,000

Occupancy floor 79%

Sensitivity live

Price	-10% $298	-5% $260	+0% $222	+5% $184	+10% $146
Rent	-10% $116	-5% $169	+0% $222	+5% $275	+10% $328
Rate	-1.0pp $289	-0.5pp $256	base $222	+0.5pp $187	+1.0pp $152

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1735 Saint John St Lake Charles, LA	4.0	2.0	1500	$1,700	$1.13	45d	1	0.38mi
333 Mill St Lake Charles, LA	1.0–2.0	1.0	758	$750	$0.99	14d	1	1.26mi
2701 Cline St Unit C Lake Charles, LA	2.0	1.0	864	$700	$0.81	22d	1	1.38mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $134,000 Pending 246 DOM
2. 2026-06-10
   days on market $134,000 Active 244 DOM
3. 2026-06-09
   days on market $134,000 Active 243 DOM
4. 2026-06-08
   days on market $134,000 Active 242 DOM
5. 2026-06-07
   days on market $134,000 Active 241 DOM
6. 2026-06-05
   days on market $134,000 Active 238 DOM
7. 2026-06-02
   days on market $134,000 Active 236 DOM
8. 2026-06-01
   days on market $134,000 Active 235 DOM
9. 2026-05-31
   days on market $134,000 Active 234 DOM
10. 2026-05-30
    days on market $134,000 Active 233 DOM
11. 2026-03-30
    price $134,000 762-char remark

    Show marketing remark (762 chars)

    Welcome to 813 N Prater Street, a well-maintained one owner home offering comfort, convenience, and charm. Built just 10 years ago, this 3-bedroom, 2-bath home features 1,113 sq ft of thoughtfully designed living space perfect for first-time buyers, downsizers, or investors! Step inside to an inviting open floor plan with a spacious living area, a functional kitchen with plenty of cabinet space, and a cozy dining area. The primary suite includes a private bath, while two additional bedrooms providing space for guests, a home office, or hobbies. Enjoy peace of mind with a fully fenced yard, ideal for pets, kids, or weekend gatherings. Located in an established neighborhood with easy access to downtown Lake Charles, schools, shopping, and major roadways.

12. 2025-10-09
    listed $139,000 Active 762-char remark

    Show marketing remark (762 chars)

    Welcome to 813 N Prater Street, a well-maintained one owner home offering comfort, convenience, and charm. Built just 10 years ago, this 3-bedroom, 2-bath home features 1,113 sq ft of thoughtfully designed living space perfect for first-time buyers, downsizers, or investors! Step inside to an inviting open floor plan with a spacious living area, a functional kitchen with plenty of cabinet space, and a cozy dining area. The primary suite includes a private bath, while two additional bedrooms providing space for guests, a home office, or hobbies. Enjoy peace of mind with a fully fenced yard, ideal for pets, kids, or weekend gatherings. Located in an established neighborhood with easy access to downtown Lake Charles, schools, shopping, and major roadways.

ⓘ 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: $989 · $82/mo
• Projected year-2 tax: $989 · $82/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 3/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,143
• − Mortgage interest: −$7,506
• − Property taxes: −$989
• − Insurance: −$670
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$3,898
• Taxable income: $497
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $2,542/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: Calcasieu Parish
• NCES district ID: 2200330
• Math proficiency: 30% ▼ -39.00%
• Reading proficiency: 44% ▼ -33.00%
• Median HH income: $44,700
• Composite: 31.45/100
• National rank: #5979
• State rank: #29 of 98 in LA

Livability — Lake Charles

• Score: 68/100
• State rank: #95
• US rank: #9820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Charles, LA
• County: Calcasieu Parish · 170,889 people
• City population: 133,538
• Metro: Lake Charles, LA
• Population (ZIP): 30,872
• Household income: $49,992
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1304.0

Population outlook (Calcasieu County) Hauer SSP2

• Today (2025): 212,179 people
• By 2030: 218,199 · +2.8%
• By 2040: 228,486 · +7.7%
• By 2050: 236,208 · +11.3%
• By 2075: 251,696 · +18.6%
• By 2100: 247,848 · +16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 59% White 31% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 7% Iranian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Calcasieu

• 2024 margin: Solid R (+39.6) · D 29.5% · R 69.0% · Other 1.5%
• 2008→2024 swing: -15.0pp toward R · 2008: -24.6pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+35.2 2016: R+33.3 2012: R+28.7 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.32%
• Current HPI: 55.6127
• Rent YoY: ▲ 6.18%
• Metro: Lake Charles, 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

-3.6% since first listed

2 events — show timeline

• 2026-03-30 Price Changed $134,000 SWLAR
• 2025-10-09 Listed $139,000 SWLAR

Property tax history

+8.5%/yr

Latest (2025): $989 · +4.4% YoY. Source: county tax records.