515 Division St #16 · Lake Charles, LA 70601

$199,000

3 bd · 2.5 ba · 1,507 sqft · Condo · 30 Days on market

Built 2018 Good condition 1-car garage $132/sqft · 16% below area Est $236k · 16% under $140/mo HOA · 7% of rent ↓ 10% 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 +17.8/30.0
• ARV discount +14.6/15.0
• DSCR +5.6/10.0
• 1% rule +5.4/10.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the historic Charpentier Neighborhood, this 1507 sq ft, 3 bedroom, 2.5 bath townhome is perfect for the on the go owner. Large open floor plan with plenty of storage with vinyl plank flooring throughout. Kitchen is equipped with custom cabinets, quartz counter tops, gas cooking and stainless appliances. Master suite features large tiled shower, separate tub, dual vanities and walk-in closet. Entertain outside in your fenced in backyard, or walk to the many restaurants and entertainment right in downtown. All appliances will covey with the unit at closing. All measurements are more or less.

Key facts

• Custom cabinetry
• Quartz countertops
• Vinyl plank flooring

Tags

• HISTORIC CHARPENTIER DISTRICT
• OPEN-CONCEPT LAYOUT
• VINYL PLANK FLOORING
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 5.1% 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); 480 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• At $2,072/mo this rent would consume 50% 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 30 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.52%
• DSCR: 1.16
• GRM: 8.0

CMA / ARV

• ARV (median comp): $236,314
• List price: $199,000
• Delta: -15.79%
• 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%)	4mo	$140,000	$79	62
1808 Foster St St	1.39mi	3/1.5	1,501 (-0%)	3mo	$186,500	$124	58
1220 Pithon St #16	0.68mi	3/2.5	1,414 (-6%)	3mo	$191,000	$135	55
1624 9th St St	1.39mi	3/2.0	1,636 (+9%)	4mo	$120,000	$73	46
1410 Reid St	0.79mi	3/2.0	1,696 (+12%)	3mo	$245,000	$144	39
824 Cleveland St	0.70mi	3/2.0	1,789 (+19%)	4mo	$150,000	$84	37
1801 Foster St	1.35mi	3/2.5	1,774 (+18%)	4mo	$285,000	$161	37
916 9th St St	1.09mi	3/2.0	1,798 (+19%)	3mo	$127,500	$71	36
114 Park Ave	0.80mi	3/2.0	1,834 (+22%)	4mo	$251,000	$137	35
903 14th St	1.42mi	3/2.0	1,850 (+23%)	4mo	$43,500	$24	35
1506 Watkins St	1.07mi	2/2.0 (-1)	1,783 (+18%)	4mo	$185,000	$104	29
710 7th St	0.88mi	2/1.5 (-1)	1,271 (-16%)	4mo	$151,050	$119	28

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: -7.0%
• Equity multiple: 0.73×
• Total profit: $-14,896
• Equity at exit: $29,672

10-year hold

• IRR: 6.4%
• Equity multiple: 1.55×
• Total profit: $30,787
• Equity at exit: $17,206

Cash invested: $55,720 (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: 480
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$207 /mo · $2,485/yr
• Insurance: −$83
• HOA: −$140
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $164

Break-even live

Break-even rent $1,865

Max offer price $199,000

Occupancy floor 87%

Sensitivity live

Price	-10% $276	-5% $220	+0% $164	+5% $107	+10% $51
Rent	-10% $0	-5% $82	+0% $164	+5% $245	+10% $327
Rate	-1.0pp $264	-0.5pp $214	base $164	+0.5pp $112	+1.0pp $60

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: $49,750
• Closing costs: $5,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Hodges St Lake Charles, LA	3.0	2.5	2016	$2,500	$1.24	6d	1	0.00mi
707 Division St Unit B Lake Charles, LA	2.0	2.0	1500	$1,600	$1.07	3d	1	0.19mi
718 Division St Lake Charles, LA	3.0	2.0	1400	$3,200	$2.29	0d	1	0.24mi
705 Clarence St Lake Charles, LA	3.0	2.0	1400	$3,100	$2.21	6d	1	0.55mi
1710 Granger St Lake Charles, LA	3.0	2.5	1450	$1,900	$1.31	139d	1	0.97mi
125 East St Lake Charles, LA	3.0	2.0	1138	$3,850	$3.38	6d	1	1.03mi
1731 Elms St Lake Charles, LA	3.0	2.0	1575	$2,000	$1.27	139d	1	1.08mi
1315 8th St Lake Charles, LA	3.0	2.0	1665	$1,595	$0.96	6d	1	1.13mi
701 11th St Lake Charles, LA	2.0	1.0	1050	$695	$0.66	6d	1	1.16mi
1505 7th St Lake Charles, LA	2.0	1.0	1054	$900	$0.85	139d	1	1.17mi
1706 4th St Lake Charles, LA	3.0	2.0	1550	$1,550	$1.00	6d	1	1.18mi
1812 Ethel St Lake Charles, LA	3.0	2.0	1589	$3,850	$2.42	139d	1	1.22mi
1911 2nd St Lake Charles, LA	3.0	1.0	1250	$1,150	$0.92	6d	1	1.28mi
1735 Saint John St Lake Charles, LA	4.0	2.0	1500	$1,700	$1.13	139d	1	1.35mi

Property features AI

Finance

• HOA & community: Homeowners association with a $140 monthly feeCommunity features include curbs and sidewalks

Exterior

• Parking: Total 1 parking space1-car garage1-car carportOpen parking availableCovered parking; parking lot
• Utilities: Public waterPublic sewerElectricity available and connectedWater and sewer available and connected
• Home design: Townhouse (residential)2 storiesSlab foundation
• Construction: Shingle roof
• Exterior features: Rain guttersCovered front porchFenced yard with wood fencingBack yardLandscapedCity lotHas a view

Interior

• Kitchen: DishwasherGas cooktopDisposalMicrowaveOvenRangeRefrigeratorStainless steel appliances
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom2 bathrooms on the main levelAccessible full bath
• Heating & cooling: Central heatingCentral airCeiling fans for cooling
• Interior features: Built-in featuresCeiling fansKitchen islandOpen floorplanRecessed lightingSoaking tubUnfurnishedNo fireplace
• Laundry & utility: Washer hookupElectric dryer hookup

HOA detail $140/mo · $1,680/yr condo

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

Listing history 50 events

1. 2026-09-22
   days on market $199,000 Active 30 DOM
2. 2026-09-20
   days on market $199,000 Active 28 DOM
3. 2026-09-19
   days on market $199,000 Active 27 DOM
4. 2026-09-18
   days on market $199,000 Active 26 DOM
5. 2026-09-17
   days on market $199,000 Active 25 DOM
6. 2026-09-16
   days on market $199,000 Active 24 DOM
7. 2026-09-15
   days on market $199,000 Active 23 DOM
8. 2026-09-14
   days on market $199,000 Active 22 DOM
9. 2026-09-13
   days on market $199,000 Active 21 DOM
10. 2026-09-12
    days on market $199,000 Active 20 DOM
11. 2026-09-11
    days on market $199,000 Active 19 DOM
12. 2026-09-05
    days on market $199,000 Active 13 DOM
13. 2026-09-04
    days on market $199,000 Active 12 DOM
14. 2026-09-03
    days on market $199,000 Active 11 DOM
15. 2026-08-31
    days on market $199,000 Active 8 DOM
16. 2026-08-30
    days on market $199,000 Active 7 DOM
17. 2026-08-29
    days on market $199,000 Active 6 DOM
18. 2026-08-28
    days on market $199,000 Active 5 DOM
19. 2026-08-27
    days on market $199,000 Active 4 DOM
20. 2026-08-26
    days on market $199,000 Active 3 DOM
21. 2026-08-25
    days on market $199,000 Active 2 DOM
22. 2026-08-24
    remarks 699-char remark
23. 2026-08-24
    pricedays on marketlisting id $199,000 Active 1 DOM
24. 2026-08-13
    days on market $210,000 Active 361 DOM
25. 2026-08-12
    days on market $210,000 Active 360 DOM
26. 2026-08-11
    days on market $210,000 Active 359 DOM
27. 2026-08-10
    days on market $210,000 Active 358 DOM
28. 2026-08-09
    days on market $210,000 Active 357 DOM
29. 2026-08-08
    days on market $210,000 Active 356 DOM
30. 2026-08-07
    days on market $210,000 Active 355 DOM
31. 2026-08-06
    days on market $210,000 Active 354 DOM
32. 2026-08-05
    days on market $210,000 Active 353 DOM
33. 2026-08-04
    days on market $210,000 Active 352 DOM
34. 2026-08-03
    days on market $210,000 Active 351 DOM
35. 2026-07-31
    days on market $210,000 Active 348 DOM
36. 2026-07-29
    days on market $210,000 Active 346 DOM
37. 2026-07-27
    days on market $210,000 Active 344 DOM
38. 2026-07-25
    days on market $210,000 Active 342 DOM
39. 2026-07-23
    days on market $210,000 Active 340 DOM
40. 2026-07-22
    days on market $210,000 Active 339 DOM
41. 2026-07-21
    days on market $210,000 Active 338 DOM
42. 2026-07-18
    days on market $210,000 Active 335 DOM
43. 2026-07-16
    days on market $210,000 Active 333 DOM
44. 2026-07-16
    days on market $210,000 Active 332 DOM
45. 2026-07-14
    days on market $210,000 Active 331 DOM
46. 2026-07-13
    days on market $210,000 Active 330 DOM
47. 2026-07-12
    days on market $210,000 Active 329 DOM
48. 2026-07-11
    days on market $210,000 Active 328 DOM
49. 2026-07-10
    days on market $210,000 Active 327 DOM
50. 2026-07-09
    days on market $210,000 Active 326 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: $24,868
• − Mortgage interest: −$11,147
• − Property taxes: −$2,485
• − Insurance: −$995
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − HOA: −$1,680
• − Depreciation: −$5,789
• Taxable loss: −$1,207
• Est. tax savings @ 24.0%: +$290
• After-tax cash flow: $2,252/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

Property features AI

Finance

• HOA & community: Homeowners association with a $140 monthly feeCommunity features include curbs and sidewalks

Exterior

• Parking: Total 1 parking space1-car garage1-car carportOpen parking availableCovered parking; parking lot
• Utilities: Public waterPublic sewerElectricity available and connectedWater and sewer available and connected
• Home design: Townhouse (residential)2 storiesSlab foundation
• Construction: Shingle roof
• Exterior features: Rain guttersCovered front porchFenced yard with wood fencingBack yardLandscapedCity lotHas a view

Interior

• Kitchen: DishwasherGas cooktopDisposalMicrowaveOvenRangeRefrigeratorStainless steel appliances
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom2 bathrooms on the main levelAccessible full bath
• Heating & cooling: Central heatingCentral airCeiling fans for cooling
• Interior features: Built-in featuresCeiling fansKitchen islandOpen floorplanRecessed lightingSoaking tubUnfurnishedNo fireplace
• Laundry & utility: Washer hookupElectric dryer hookup

Price history

-10.4% since first listed

5 events — show timeline

• 2026-08-24 Listed $199,000 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.