515 Division St #16 · Lake Charles, LA 70601

$210,000

3 bd · 2.5 ba · 1,507 sqft · Condo · 356 Days on market

Built 2018 Good condition $139/sqft · 11% below area Est $236k · 11% under $100/mo HOA · 5% of rent ↓ 5% 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 +13.0/30.0
• ARV discount +12.4/15.0
• 1% rule +4.0/10.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Live in the Heart of Charpentier Neighborhood! Step into this charming 3 bedroom, 2.5 bath townhome in the historic Charpentier District, where classic style meets modern convenience! With 1,507 sq ft of space, this gem is perfect for those who love easy living and being close to all the action. The spacious, open floor plan features sleek vinyl plank floors and tons of storage throughout. Whip up your favorite meals in a kitchen that’s as stylish as it is functional, gorgeous quartz countertops, a gas stove, and stainless-steel appliances are all here. The primary suite? It’s your personal spa getaway with a large, tiled shower, separate soaking tub, dual vanities, and a walk-in closet that has room for everything. Take the fun outdoors with your private, fenced in backyard perfect for entertaining or relaxing. And when you’re in the mood for a night out, just stroll over to the vibrant restaurants and entertainment in downtown! All appliances stay with the home. What’s not to love?

Key facts

• Open floor plan
• Gas stove
• Vinyl plank floors

Tags

• HISTORIC CHARPENTIER DISTRICT
• OPEN FLOOR PLAN
• VINYL PLANK FLOORS
• GORGEOUS QUARTZ COUNTERTOPS
• GAS STOVE
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-10 ($-120/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (10.4% below list).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.2% 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.
• Zoned schools: John J. Johnson Ii Elementary School (149 students, 91% FRL); Ray D. Molo Middle Magnet School (math 6% / reading 18%, grade F, #193 of 218 statewide, top 88%, 325 students, 91% FRL); Washington/Marion Magnet High School (math 8% / reading 12%, grade F, #241 of 265 statewide, top 93%, 587 students, 80% FRL) — zoned schools average 87% FRL vs 52% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 37% district-wide (-26 pts) — the specific schools serving this property underperform the Calcasieu Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.2%/yr); 424 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• At $1,881/mo this rent would consume 45% of the median local household income ($50k/yr) — 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $184,800 (12.0% 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 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 9.3

CMA / ARV

• ARV (median comp): $235,896
• List price: $210,000
• Delta: -10.98%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 Moss St	0.16mi	3/3.0	1,770 (+18%)	2mo	$140,000	$79	64
1808 Foster St St	1.39mi	3/1.5	1,501 (-0%)	1mo	$186,500	$124	59
1220 Pithon St #16	0.68mi	3/2.5	1,414 (-6%)	2mo	$191,000	$135	56
1624 9th St St	1.39mi	3/2.0	1,636 (+9%)	2mo	$120,000	$73	47
1410 Reid St	0.79mi	3/2.0	1,696 (+12%)	2mo	$245,000	$144	41
824 Cleveland St	0.70mi	3/2.0	1,789 (+19%)	2mo	$150,000	$84	38
1801 Foster St	1.35mi	3/2.5	1,774 (+18%)	2mo	$285,000	$161	38
916 9th St St	1.09mi	3/2.0	1,798 (+19%)	1mo	$127,500	$71	37
114 Park Ave	0.80mi	3/2.0	1,834 (+22%)	2mo	$251,000	$137	36
903 14th St	1.42mi	3/2.0	1,850 (+23%)	2mo	$43,500	$24	36
1506 Watkins St	1.07mi	2/2.0 (-1)	1,783 (+18%)	3mo	$185,000	$104	31
710 7th St	0.88mi	2/1.5 (-1)	1,271 (-16%)	2mo	$151,050	$119	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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.52×
• Total profit: $-28,398
• Equity at exit: $31,312

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,883
• Equity at exit: $18,157

Cash invested: $58,800 (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 70601

• Rents YoY: 6.2%
• Active inventory: 424
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$207 /mo · $2,485/yr
• Insurance: −$88
• HOA: −$100
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $-10

Break-even live

Break-even rent $1,893

Max offer price $208,240

Occupancy floor 96%

Sensitivity live

Price	-10% $109	-5% $49	+0% $-10	+5% $-69	+10% $-129
Rent	-10% $-159	-5% $-84	+0% $-10	+5% $64	+10% $139
Rate	-1.0pp $96	-0.5pp $43	base $-10	+0.5pp $-64	+1.0pp $-120

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: $52,500
• Closing costs: $6,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Granger St Lake Charles, LA	3.0	2.5	1450	$1,900	$1.31	93d	1	0.97mi
125 East St Lake Charles, LA	3.0	2.0	1138	$3,850	$3.38	93d	1	1.03mi
1731 Elms St Lake Charles, LA	3.0	2.0	1575	$2,000	$1.27	93d	1	1.08mi
1505 7th St Lake Charles, LA	2.0	1.0	1054	$900	$0.85	93d	1	1.17mi
1812 Ethel St Lake Charles, LA	3.0	2.0	1589	$3,850	$2.42	93d	1	1.22mi
1735 Saint John St Lake Charles, LA	4.0	2.0	1500	$1,700	$1.13	93d	1	1.35mi

HOA detail $100/mo · $1,200/yr condo

• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $210,000 Active 356 DOM
2. 2026-08-07
   days on market $210,000 Active 355 DOM
3. 2026-08-06
   days on market $210,000 Active 354 DOM
4. 2026-08-05
   days on market $210,000 Active 353 DOM
5. 2026-08-04
   days on market $210,000 Active 352 DOM
6. 2026-08-03
   days on market $210,000 Active 351 DOM
7. 2026-07-31
   days on market $210,000 Active 348 DOM
8. 2026-07-29
   days on market $210,000 Active 346 DOM
9. 2026-07-27
   days on market $210,000 Active 344 DOM
10. 2026-07-25
    days on market $210,000 Active 342 DOM
11. 2026-07-23
    days on market $210,000 Active 340 DOM
12. 2026-07-22
    days on market $210,000 Active 339 DOM
13. 2026-07-21
    days on market $210,000 Active 338 DOM
14. 2026-07-18
    days on market $210,000 Active 335 DOM
15. 2026-07-16
    days on market $210,000 Active 333 DOM
16. 2026-07-16
    days on market $210,000 Active 332 DOM
17. 2026-07-14
    days on market $210,000 Active 331 DOM
18. 2026-07-13
    days on market $210,000 Active 330 DOM
19. 2026-07-12
    days on market $210,000 Active 329 DOM
20. 2026-07-11
    days on market $210,000 Active 328 DOM
21. 2026-07-10
    days on market $210,000 Active 327 DOM
22. 2026-07-09
    days on market $210,000 Active 326 DOM
23. 2026-07-08
    days on market $210,000 Active 325 DOM
24. 2026-07-07
    days on market $210,000 Active 324 DOM
25. 2026-07-06
    days on market $210,000 Active 323 DOM
26. 2026-07-05
    days on market $210,000 Active 322 DOM
27. 2026-07-04
    days on market $210,000 Active 321 DOM
28. 2026-07-03
    days on market $210,000 Active 320 DOM
29. 2026-07-03
    days on market $210,000 Active 319 DOM
30. 2026-07-01
    days on market $210,000 Active 318 DOM
31. 2026-06-30
    days on market $210,000 Active 317 DOM
32. 2026-06-29
    days on market $210,000 Active 316 DOM
33. 2026-06-28
    days on market $210,000 Active 315 DOM
34. 2026-06-28
    days on market $210,000 Active 314 DOM
35. 2026-06-27
    days on market $210,000 Active 313 DOM
36. 2026-06-25
    days on market $210,000 Active 311 DOM
37. 2026-06-23
    days on market $210,000 Active 309 DOM
38. 2026-06-21
    days on market $210,000 Active 308 DOM
39. 2026-06-19
    days on market $210,000 Active 306 DOM
40. 2026-06-18
    days on market $210,000 Active 305 DOM
41. 2026-06-17
    days on market $210,000 Active 304 DOM
42. 2026-06-16
    days on market $210,000 Active 303 DOM
43. 2026-06-15
    days on market $210,000 Active 302 DOM
44. 2026-06-14
    days on market $210,000 Active 300 DOM
45. 2026-06-13
    days on market $210,000 Active 299 DOM
46. 2026-06-10
    days on market $210,000 Active 297 DOM
47. 2026-06-09
    days on market $210,000 Active 296 DOM
48. 2026-06-08
    days on market $210,000 Active 295 DOM
49. 2026-06-07
    days on market $210,000 Active 294 DOM
50. 2026-06-05
    days on market $210,000 Active 291 DOM

ⓘ 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: $2,485 · $207/mo
• Projected year-2 tax: $2,485 · $207/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $22,570
• − Mortgage interest: −$11,763
• − Property taxes: −$2,485
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − HOA: −$1,200
• − Depreciation: −$6,109
• Taxable loss: −$3,648
• Est. tax savings @ 24.0%: +$876
• After-tax cash flow: $756/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $7,535–$22,605 screening

This charming 3-bedroom, 2.5-bath townhome in the Charpentier District is in good condition with modern updates and a good curb appeal. It's move-in ready and would benefit from some exterior painting and landscaping to further enhance its value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Add a smart home system — Improves convenience and marketability ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 11/100

Zoned Schools

Elementary Ralph F. Wilson Elementary School F LA #550/646 Nat'l #37,719/41,679 Middle Ray D. Molo Middle Magnet School F LA #193/218 Nat'l #13,125/14,009 High Washington/marion Magnet High School F LA #241/265 Nat'l #16,463/17,239

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

C Composite livability gradescore 68/100

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 · 212,179 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: 6% of renters

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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%

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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%

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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

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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

-5.4% since first listed

8 events — show timeline

• 2026-04-10 Price Changed $210,000 SWLAR
• 2026-02-12 Price Changed $218,000 SWLAR
• 2025-09-11 Price Changed $224,000 SWLAR
• 2025-08-15 Listed $229,000 SWLAR
• 2022-01-06 Sold (Public Records) $222,000 Public Records
• 2022-01-06 Sold (MLS) — SWLAR
• 2021-10-20 Listed $222,000 SWLAR
• 2020-02-07 Sold (Public Records) $222,000 Public Records

Property tax history

+28.0%/yr

Latest (2025): $2,485 · +4.5% YoY. Source: county tax records.