3902 Harvard St · Lake Charles, LA 70607

$145,000

3 bd · 2.0 ba · 1,483 sqft · Land · 65 Days on market

Built 1955 0.27 ac lot $98/sqft · 14% below area Est $169k · 14% under

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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 +18.5/30.0
• ARV discount +13.9/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Rent growth +4.6/5.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming one-owner home in a prime central location! This 3-bedroom, 2-bath property sits on an oversized lot and a half, offering plenty of space both inside and out. You’ll love the original hardwood floors that run throughout most of the home, adding warmth and character. The spacious primary bedroom features a large walk-in closet, providing comfort and convenience. With its ideal location and timeless appeal, this home is a rare find—don’t miss your opportunity to make it yours!

Key facts

• Large walk-in closet
• Oversized lot
• 0.27 acre lot

Tags

• PRIME CENTRAL LOCATION
• OVERSIZED LOT
• ORIGINAL HARDWOOD FLOORS
• LARGE WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $145k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (0.6% below list).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+8.6%/yr); 567 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 + 8.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 0.99% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $168,944
• List price: $145,000
• Delta: -11.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.82×
• Total profit: $-7,131
• Equity at exit: $21,620

10-year hold

• IRR: 10.3%
• Equity multiple: 1.98×
• Total profit: $39,793
• Equity at exit: $12,537

Cash invested: $40,600 (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 70607

• Rents YoY: 8.6%
• Active inventory: 567
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,442 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $137

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 86%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3715 Common St Unit B1 Lake Charles, LA	2.0	2.0	900	$1,395	$1.55	13d	1	0.25mi
417 E Claude St Lake Charles, LA	4.0	1.0	1610	$1,400	$0.87	43d	1	0.29mi
617 E School St Unit A Lake Charles, LA	3.0	2.0	1800	$2,500	$1.39	43d	1	0.32mi
930 Azalea St Lake Charles, LA	4.0	2.0	1658	$1,500	$0.90	21d	1	0.48mi
3506 Common St Unit 11 Lake Charles, LA	2.0	1.0	910	$950	$1.04	13d	1	0.51mi
615 Cusic St Unit 615-1 Lake Charles, LA	2.0	1.5	950	$1,200	$1.26	13d	1	0.52mi
807 Camelia St Lake Charles, LA	3.0	1.0	1322	$1,500	$1.13	43d	1	0.52mi
617 Cusic St Unit 617-1 Lake Charles, LA	2.0	1.5	1000	$1,200	$1.20	13d	1	0.52mi
3601 1st Ave Lake Charles, LA	3.0	2.0	1512	$1,295	$0.86	13d	1	0.71mi
114 W Lagrange St Apt 18 Lake Charles, LA	2.0	1.0	1200	$1,300	$1.08	21d	1	0.79mi
1509 Sage Dr Lake Charles, LA	4.0	1.0	1157	$1,195	$1.03	21d	1	0.81mi
3206 Hodges St Lake Charles, LA	2.0	1.0	1497	$1,200	$0.80	43d	1	0.88mi
3206 Louisiana Ave Lake Charles, LA	4.0	2.0	1600	$1,600	$1.00	13d	1	0.91mi
3619 Texas St Lake Charles, LA	1.0–3.0	1.0–2.0	950	$1,087	$1.14	13d	6	0.96mi
422 W Lagrange St Lake Charles, LA	2.0	2.0	995	$1,050	$1.06	43d	1	1.06mi
3108 Aster St Unit M Lake Charles, LA	2.0	1.0	1100	$1,300	$1.18	13d	1	1.10mi
2700 Ernest St Lake Charles, LA	1.0–3.0	1.0–2.0	1054	$1,598	$1.52	13d	1	1.43mi
5014 Desoto St Apt C Lake Charles, LA	2.0	2.0	962	$1,175	$1.22	13d	1	1.43mi
5018 Desoto St Apt C Lake Charles, LA	2.0	2.0	962	$1,175	$1.22	43d	1	1.45mi

Listing history 17 events

1. 2026-06-19
   pricedays on market $145,000 Active 65 DOM
2. 2026-06-18
   days on market $150,000 Active 64 DOM
3. 2026-06-17
   days on market $150,000 Active 63 DOM
4. 2026-06-16
   days on market $150,000 Active 62 DOM
5. 2026-06-15
   days on market $150,000 Active 61 DOM
6. 2026-06-14
   days on market $150,000 Active 59 DOM
7. 2026-06-13
   days on market $150,000 Active 58 DOM
8. 2026-06-10
   days on market $150,000 Active 56 DOM
9. 2026-06-09
   days on market $150,000 Active 55 DOM
10. 2026-06-08
    days on market $150,000 Active 54 DOM
11. 2026-06-07
    days on market $150,000 Active 53 DOM
12. 2026-06-05
    days on market $150,000 Active 50 DOM
13. 2026-06-02
    days on market $150,000 Active 48 DOM
14. 2026-06-01
    days on market $150,000 Active 47 DOM
15. 2026-05-31
    days on market $150,000 Active 46 DOM
16. 2026-05-30
    days on market $150,000 Active 45 DOM
17. 2026-04-15
    listed $150,000 Active 506-char remark

    Show marketing remark (506 chars)

    Charming one-owner home in a prime central location! This 3-bedroom, 2-bath property sits on an oversized lot and a half, offering plenty of space both inside and out. You’ll love the original hardwood floors that run throughout most of the home, adding warmth and character. The spacious primary bedroom features a large walk-in closet, providing comfort and convenience. With its ideal location and timeless appeal, this home is a rare find—don’t miss your opportunity to make it yours!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 20 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: $17,302
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,384
• − Management: −$1,384
• − Depreciation: −$4,218
• Taxable loss: −$707
• Est. tax savings @ 24.0%: +$170
• After-tax cash flow: $1,813/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): 27,080
• Household income: $60,351
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1267.0

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 0.65)
• Race & ethnicity: White 46% Black 36% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 10% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -91.59%
• Current HPI: 93.679
• Rent YoY: ▲ 8.55%
• 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

1 event — show timeline

• 2026-04-15 Listed $150,000 SWLAR

Property tax history

-0.5%/yr

Latest (2025): $26 · +1.2% YoY. Source: county tax records.