159 Essie St · Lafayette, LA 70501

$95,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily · 107 Days on market

Built 1974 8,712 sqft lot $81/sqft · at area comps Est $96k · at est. ↓ 30% 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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.8/15.0
• 1% rule +6.3/10.0
• 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

Whether you're an investor seeking a high-potential project or a buyer looking to build equity through custom updates, this 1,176-square-foot home is a fantastic opportunity. The residence features a functional three-bedroom, 1.5-bathroom layout and is defined by a spacious open floor plan that creates a seamless flow through the main living areas. Known for having ''great bones,'' this property offers a solid foundation and a blank canvas for your creative vision, waiting for the right TLC to truly shine.

Key facts

• Open floor plan
• Solid foundation
• 8,712 sq ft lot

Tags

• OPEN FLOOR PLAN
• SOLID FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• Market conditions: Rents rising fast (+7.3%/yr); 246 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent runs 39% of the median local income ($33k/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 $657 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 $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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.

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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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: 1.13% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.29%
• DSCR: 1.55
• GRM: 7.4

CMA / ARV

• ARV (median comp): $95,679
• List price: $95,000
• Delta: -0.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Hayes Dr	0.29mi	3/2.0	1,100 (-6%)	1mo	$35,000	$32	71
101 Conrad St	0.58mi	3/1.5	1,140 (-3%)	1mo	$59,000	$52	66
708 Hellen St	0.67mi	3/2.0	1,220 (+4%)	1mo	$145,000	$119	58
700 W Willow St	0.52mi	3/2.0	1,056 (-10%)	2mo	$181,600	$172	53
129 Lena St	0.34mi	2/1.0 (-1)	1,000 (-15%)	2mo	$35,000	$35	53
110 W Evergreen St	0.52mi	3/1.5	1,250 (+6%)	13mo	$139,000	$111	52
148 E Gilman Rd	0.51mi	3/1.5	1,050 (-11%)	7mo	$135,000	$129	50
108 Macklyn St	0.69mi	3/1.0	1,054 (-10%)	1mo	$50,000	$47	49
104 Town Homes Dr	0.72mi	3/1.0	1,100 (-6%)	8mo	$95,000	$86	49
310 Paul Breaux Ave	0.60mi	3/1.5	1,100 (-6%)	13mo	$50,000	$45	48
216 Sonny St	0.70mi	3/2.0	1,245 (+6%)	13mo	$77,900	$63	43
301 Doc Duhon St	0.66mi	3/1.0	1,000 (-15%)	7mo	$90,000	$90	39

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: 6.3%
• Equity multiple: 1.26×
• Total profit: $6,838
• Equity at exit: $14,165

10-year hold

• IRR: 19.0%
• Equity multiple: 2.89×
• Total profit: $50,217
• Equity at exit: $8,214

Cash invested: $26,600 (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 70501

• Rents YoY: 7.3%
• Active inventory: 246
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,075 high
• Mortgage (P&I): −$498
• Tax from tax record: −$39 /mo · $469/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $272

Break-even live

Break-even rent $730

Max offer price $95,000

Occupancy floor 70%

Sensitivity live

Price	-10% $326	-5% $299	+0% $272	+5% $246	+10% $219
Rent	-10% $188	-5% $230	+0% $272	+5% $315	+10% $357
Rate	-1.0pp $320	-0.5pp $297	base $272	+0.5pp $248	+1.0pp $223

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 Fairmont Ln Lafayette, LA	3.0	1.0	1000	$992	$0.99	44d	1	0.19mi
816 Martin Luther King Jr Dr Lafayette, LA	4.0	2.0	1453	$1,450	$1.00	22d	1	0.35mi
815 Martin Luther King Junior Dr Unit 40 Lafayette, LA	2.0	1.0	873	$800	$0.92	44d	1	0.35mi
815 Martin Luther King Junior Dr Apt 29 Lafayette, LA	2.0	1.0	873	$800	$0.92	22d	1	0.35mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	22d	1	0.46mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	14d	1	0.46mi
246 Paul Breaux Ave Lafayette, LA	3.0	1.0	989	$1,100	$1.11	44d	1	0.75mi
241 N Pine St Lafayette, LA	2.0	1.0	864	$950	$1.10	44d	1	0.83mi
319 Tissington St Lafayette, LA	2.0	1.0	956	$775	$0.81	44d	1	0.85mi
206 N Washington St Lafayette, LA	3.0	1.0	900	$900	$1.00	22d	1	0.85mi
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	44d	1	0.95mi
313 Hobson St Lafayette, LA	3.0	1.0	1000	$1,100	$1.10	22d	1	0.96mi
503 Joan St Lafayette, LA	3.0	2.0	1000	$1,400	$1.40	22d	1	1.08mi
610 Sunset Dr Lafayette, LA	2.0	1.0	1000	$800	$0.80	44d	1	1.15mi
2820 Louisiana Ave Lafayette, LA	1.0–2.0	1.0–2.0	821	$1,145	$1.39	14d	20	1.26mi
2830 Louisiana Ave #6 Lafayette, LA	2.0	1.5	1100	$950	$0.86	14d	1	1.27mi
2826 Louisiana Ave #907 Lafayette, LA	2.0	2.5	1100	$950	$0.86	22d	1	1.32mi
2826 Louisiana Ave #1111 Lafayette, LA	2.0	2.0	1140	$1,200	$1.05	45d	1	1.32mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	44d	1	1.42mi
1002 E Simcoe St Lafayette, LA	4.0	2.0	1100	$950	$0.86	44d	1	1.45mi
111 Sternberg Dr Lafayette, LA	3.0	2.0	1050	$900	$0.86	44d	1	1.46mi
1140 Madeline Ave Lafayette, LA	4.0	1.0	1225	$850	$0.69	44d	1	1.48mi
1030 9th St Lafayette, LA	2.0	1.0	800	$800	$1.00	44d	1	1.50mi
406 Silkwood St Unit D Lafayette, LA	2.0	1.0	800	$850	$1.06	44d	1	1.50mi

Listing history 21 events

1. 2026-06-18
   days on market $95,000 Active 107 DOM
2. 2026-06-17
   days on market $95,000 Active 106 DOM
3. 2026-06-16
   days on market $95,000 Active 105 DOM
4. 2026-06-15
   days on market $95,000 Active 104 DOM
5. 2026-06-14
   days on market $95,000 Active 102 DOM
6. 2026-06-13
   days on market $95,000 Active 101 DOM
7. 2026-06-10
   days on market $95,000 Active 99 DOM
8. 2026-06-09
   days on market $95,000 Active 98 DOM
9. 2026-06-08
   days on market $95,000 Active 97 DOM
10. 2026-06-07
    days on market $95,000 Active 96 DOM
11. 2026-06-05
    days on market $95,000 Active 93 DOM
12. 2026-06-03
    days on market $95,000 Active 92 DOM
13. 2026-06-02
    days on market $95,000 Active 91 DOM
14. 2026-06-01
    days on market $95,000 Active 90 DOM
15. 2026-05-31
    days on market $95,000 Active 89 DOM
16. 2026-05-30
    days on market $95,000 Active 88 DOM
17. 2026-03-03
    listed $95,000 Active 511-char remark

    Show marketing remark (511 chars)

    Whether you're an investor seeking a high-potential project or a buyer looking to build equity through custom updates, this 1,176-square-foot home is a fantastic opportunity. The residence features a functional three-bedroom, 1.5-bathroom layout and is defined by a spacious open floor plan that creates a seamless flow through the main living areas. Known for having ''great bones,'' this property offers a solid foundation and a blank canvas for your creative vision, waiting for the right TLC to truly shine.

18. 2025-10-01
    price $95,000
19. 2025-02-28
    listed $120,000 Active
20. 2017-03-29
    listed $92,000
21. 2008-03-24
    listed $135,000

ⓘ 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: $469 · $39/mo
• Projected year-2 tax: $522 · $44/mo
• Expected delta: +$53/yr (+$4/mo · 11.4%)

ⓘ 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 2/10 Low
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,901
• − Mortgage interest: −$5,321
• − Property taxes: −$469
• − Insurance: −$475
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$2,764
• Taxable income: $1,808
• Est. tax owed @ 24.0%: −$434
• After-tax cash flow: $2,836/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

-29.6% since first listed

5 events — show timeline

• 2026-03-03 Listed $95,000 AcadianaMLS
• 2025-10-01 Price Changed $95,000 AcadianaMLS
• 2025-02-28 Listed $120,000 AcadianaMLS
• 2017-03-29 Listed $92,000 AcadianaMLS
• 2008-03-24 Listed $135,000 AcadianaMLS

Property tax history

+2.0%/yr

Latest (2025): $469 · -1.1% YoY. Source: county tax records.