304 Carmel Dr · Lafayette, LA 70501

$99,500

4 bd · 2.0 ba · 1,632 sqft · SingleFamily public records · 140 Days on market

Built 1950 6,534 sqft lot $61/sqft · 18% below area Est $123k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This 4 bedroom / 2 bath house house is bringing in $1200/mo. Do not disturb tenants. Owner has 2 houses around the corner on Haig St FOR SALE also.

Key facts

• 6,534 sq ft lot
• Parking
• Built 1950

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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: J. Wallace James Elementary School (math 46% / reading 49%, grade D, #147 of 646 statewide, top 23%, 939 students, 64% FRL); Northside High School (math 17% / reading 22%, grade F, #186 of 265 statewide, top 73%, 655 students, 83% FRL) — zoned schools average 74% FRL vs 56% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.3%/yr); 248 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $100k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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 1950 — 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: 1.53% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.22%
• DSCR: 2.12
• GRM: 5.5

CMA / ARV

• ARV (median comp): $123,256
• List price: $99,500
• Delta: -14.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Verdun St	0.12mi	3/2.0 (-1)	1,666 (+2%)	2mo	$33,500	$20	84
311 Pershing St	0.12mi	3/2.0 (-1)	1,647 (+1%)	13mo	$125,000	$76	77
113 Fred St	0.47mi	4/1.0	1,670 (+2%)	7mo	$55,000	$33	64
412 S Sterling St	0.65mi	3/2.0 (-1)	1,650 (+1%)	9mo	$140,000	$85	56
138 N General Marshall St	0.34mi	3/2.0 (-1)	1,404 (-14%)	1mo	$105,000	$75	55
113 Iantha St	0.29mi	3/1.0 (-1)	1,400 (-14%)	10mo	$30,000	$21	46
102 Narcisse St	0.53mi	4/2.0	1,435 (-12%)	13mo	$103,000	$72	44
218 Ovey Dr	0.52mi	3/2.0 (-1)	1,800 (+10%)	13mo	$130,000	$72	43
177 Radcliffe Dr	0.66mi	4/3.0	1,800 (+10%)	10mo	$220,000	$122	39
1740 E Pinhook Rd	0.59mi	3/2.0 (-1)	1,425 (-13%)	10mo	$140,984	$99	39
519 Mudd Ave	0.73mi	3/2.0 (-1)	1,412 (-14%)	9mo	$145,000	$103	31
135 Randolph	0.67mi	3/2.0 (-1)	1,407 (-14%)	12mo	$125,000	$89	31

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: 23.3%
• Equity multiple: 2.01×
• Total profit: $28,089
• Equity at exit: $14,836

10-year hold

• IRR: 33.8%
• Equity multiple: 4.72×
• Total profit: $103,571
• Equity at exit: $8,603

Cash invested: $27,860 (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: 248
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$522
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $585

Break-even live

Break-even rent $779

Max offer price $99,500

Occupancy floor 56%

Sensitivity live

Price	-10% $642	-5% $614	+0% $585	+5% $557	+10% $529
Rent	-10% $465	-5% $525	+0% $585	+5% $646	+10% $706
Rate	-1.0pp $636	-0.5pp $611	base $585	+0.5pp $560	+1.0pp $533

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 E Simcoe St Lafayette, LA	4.0	2.0	1100	$950	$0.86	46d	1	0.39mi
908 Saint Charles St Lafayette, LA	3.0	2.0	1200	$1,250	$1.04	23d	1	0.70mi
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	46d	1	0.77mi
406 Starlight Dr Lafayette, LA	4.0	2.0	1867	$3,500	$1.87	16d	1	1.39mi
126 S Refinery St Lafayette, LA	4.0	2.0	1550	$1,495	$0.96	46d	1	1.43mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	23d	1	1.45mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	16d	1	1.45mi
109 Red Pine Dr Lafayette, LA	4.0	3.0	2087	$3,500	$1.68	16d	1	1.48mi

Listing history 24 events

1. 2026-06-23
   days on market $99,500 Active 140 DOM
2. 2026-06-21
   pricedays on market $99,500 Active 139 DOM
3. 2026-06-18
   days on market $105,000 Active 136 DOM
4. 2026-06-17
   days on market $105,000 Active 135 DOM
5. 2026-06-16
   days on market $105,000 Active 134 DOM
6. 2026-06-15
   days on market $105,000 Active 133 DOM
7. 2026-06-14
   days on market $105,000 Active 131 DOM
8. 2026-06-13
   days on market $105,000 Active 130 DOM
9. 2026-06-10
   days on market $105,000 Active 128 DOM
10. 2026-06-09
    days on market $105,000 Active 127 DOM
11. 2026-06-08
    days on market $105,000 Active 126 DOM
12. 2026-06-07
    days on market $105,000 Active 125 DOM
13. 2026-06-05
    days on market $105,000 Active 122 DOM
14. 2026-06-03
    days on market $105,000 Active 121 DOM
15. 2026-06-02
    days on market $105,000 Active 120 DOM
16. 2026-06-01
    days on market $105,000 Active 119 DOM
17. 2026-05-31
    days on market $105,000 Active 118 DOM
18. 2026-05-30
    days on market $105,000 Active 117 DOM
19. 2026-03-17
    price $105,000 149-char remark

    Show marketing remark (149 chars)

    This 4 bedroom / 2 bath house house is bringing in $1200/mo. Do not disturb tenants. Owner has 2 houses around the corner on Haig St FOR SALE also.

20. 2026-02-02
    listed $110,000 Active 149-char remark

    Show marketing remark (149 chars)

    This 4 bedroom / 2 bath house house is bringing in $1200/mo. Do not disturb tenants. Owner has 2 houses around the corner on Haig St FOR SALE also.

21. 2025-05-19
    price $375,000
22. 2025-04-11
    status Active
23. 2024-09-27
    listed $380,000 Active
24. 2021-10-18
    soldstatus $65,000

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $629 · $52/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 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: $18,245
• − Mortgage interest: −$5,574
• − Property taxes: −$629
• − Insurance: −$498
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$2,895
• Taxable income: $5,731
• Est. tax owed @ 24.0%: −$1,375
• After-tax cash flow: $5,650/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

+61.5% since first listed

6 events — show timeline

• 2026-03-17 Price Changed $105,000 AcadianaMLS
• 2026-02-02 Listed $110,000 AcadianaMLS
• 2025-05-19 Price Changed $375,000 AcadianaMLS
• 2025-04-11 Relisted — AcadianaMLS
• 2024-09-27 Listed $380,000 AcadianaMLS
• 2021-10-18 Sold (Public Records) $65,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $629 · -1.1% YoY. Source: county tax records.