702 NE Evangeline Thruway · Lafayette, LA 70501

$55,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 55 Days on market

Built 1940 8,420 sqft lot $47/sqft · 24% below area Est $74k · 25% 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

Solid built, a century old house, 3 large bedrooms, high ceilings, kitchen was added in 1970 (14 x 20), huge backyard fenced in (50x168) A must see, appraisal $75,000, assessed value $69,000. Lots of parking, great home , greater price.

Key facts

• 8,420 sq ft lot
• Parking
• Listed 55 days

Property features AI

Exterior

• Parking: Open parking
• Utilities: Public sewer; Electric service: SLEMCO
• Home design: Single family residence
• Exterior features: Wood siding

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: Has heating; Has cooling

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.1% 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); Paul Breaux Middle School (math 30% / reading 37%, grade F, #100 of 218 statewide, top 47%, 680 students, 68% FRL); Northside High School (math 17% / reading 22%, grade F, #186 of 265 statewide, top 73%, 655 students, 83% FRL) — zoned schools average 72% FRL vs 56% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.3%/yr); 247 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 49% 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 42% 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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

• Watch-outs: built in 1940 — 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 $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.11% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.31%
• DSCR: 2.88
• GRM: 3.9

CMA / ARV

• ARV (median comp): $73,572
• List price: $55,000
• Delta: -25.24%
• 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
210 Hobson St	0.22mi	3/1.0	1,100 (-6%)	9mo	$20,000	$18	71
126 Sherwood Dr	0.72mi	3/1.0	1,200 (+2%)	0mo	$65,000	$54	63
430 S Pierce St	0.50mi	2/1.0 (-1)	1,214 (+3%)	4mo	$210,000	$173	63
219 Bellot St	0.22mi	3/1.0	1,007 (-14%)	10mo	$70,000	$70	58
708 Louisiana Ave	0.62mi	3/2.0	1,210 (+3%)	6mo	$99,000	$82	57
324 Surrey St	0.57mi	2/1.0 (-1)	1,200 (+2%)	12mo	$90,000	$75	55
202 Hobson St	0.24mi	2/1.0 (-1)	1,000 (-15%)	7mo	$110,000	$110	53
148 E Gilman Rd	0.48mi	3/1.5	1,050 (-11%)	7mo	$135,000	$129	52
310 S Sterling St	0.49mi	2/2.0 (-1)	1,066 (-9%)	7mo	$136,000	$128	47
312 Olivier St	0.51mi	2/1.0 (-1)	1,048 (-11%)	15mo	$170,000	$162	40
518 S Magnolia St	0.67mi	3/2.0	1,092 (-7%)	16mo	$155,000	$142	40
129 Lena St	0.65mi	2/1.0 (-1)	1,000 (-15%)	2mo	$35,000	$35	38

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: 43.9%
• Equity multiple: 3.01×
• Total profit: $30,987
• Equity at exit: $8,201

10-year hold

• IRR: 51.8%
• Equity multiple: 7.19×
• Total profit: $95,380
• Equity at exit: $4,755

Cash invested: $15,400 (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: 247
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,161 high
• Mortgage (P&I): −$288
• Tax from tax record: −$63 /mo · $754/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $543

Break-even live

Break-even rent $474

Max offer price $55,000

Occupancy floor 48%

Sensitivity live

Price	-10% $574	-5% $559	+0% $543	+5% $527	+10% $512
Rent	-10% $451	-5% $497	+0% $543	+5% $589	+10% $635
Rate	-1.0pp $571	-0.5pp $557	base $543	+0.5pp $529	+1.0pp $514

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	45d	1	0.07mi
313 Hobson St Lafayette, LA	3.0	1.0	1000	$1,100	$1.10	23d	1	0.15mi
319 Tissington St Lafayette, LA	2.0	1.0	956	$775	$0.81	45d	1	0.26mi
1002 E Simcoe St Lafayette, LA	4.0	2.0	1100	$950	$0.86	45d	1	0.53mi
1030 9th St Lafayette, LA	2.0	1.0	800	$800	$1.00	45d	1	0.57mi
206 N Washington St Lafayette, LA	3.0	1.0	900	$900	$1.00	23d	1	0.60mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	45d	1	0.68mi
117 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	23d	1	0.83mi
109 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	15d	1	0.83mi
114 Carlin St Lafayette, LA	2.0	2.5	1200	$2,000	$1.67	45d	1	0.91mi
908 Saint Charles St Lafayette, LA	3.0	2.0	1200	$1,250	$1.04	23d	1	0.93mi
402 Lamar St Lafayette, LA	2.0	2.0	770	$825	$1.07	45d	1	0.94mi
1011 W Congress St Lafayette, LA	2.0	1.0	1181	$1,400	$1.19	45d	1	0.97mi
610 Sunset Dr Lafayette, LA	2.0	1.0	1000	$800	$0.80	45d	1	1.00mi
1114 W Congress St Lafayette, LA	2.0	1.0	1200	$1,350	$1.12	45d	1	1.03mi
405 E Convent St Lafayette, LA	2.0	1.0	847	$1,125	$1.33	45d	1	1.07mi
1120 S Washington St Unit A Lafayette, LA	2.0	2.0	892	$2,200	$2.47	15d	1	1.08mi
1120 S Washington St Unit B Lafayette, LA	3.0	2.0	1030	$2,400	$2.33	15d	1	1.08mi
305 General Mouton Ave Unit B Lafayette, LA	2.0	1.0	750	$1,250	$1.67	15d	1	1.15mi
503 Joan St Lafayette, LA	3.0	2.0	1000	$1,400	$1.40	23d	1	1.15mi
213 General Gardner Ave Lafayette, LA	3.0	1.0	1300	$1,750	$1.35	23d	1	1.18mi
908 Lamar St Unit 108 Lafayette, LA	2.0	1.0	1050	$1,025	$0.98	15d	1	1.18mi
810 Fairmont Ln Lafayette, LA	3.0	1.0	1000	$992	$0.99	45d	1	1.19mi
300 General Mouton Ave #6 Lafayette, LA	2.0	2.5	1200	$1,600	$1.33	15d	1	1.19mi
816 Martin Luther King Jr Dr Lafayette, LA	4.0	2.0	1453	$1,450	$1.00	23d	1	1.20mi
406 Silkwood St Unit D Lafayette, LA	2.0	1.0	800	$850	$1.06	45d	1	1.20mi
330 General Mouton Ave Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	15d	1	1.21mi
241 N Pine St Lafayette, LA	2.0	1.0	864	$950	$1.10	45d	1	1.23mi
815 Martin Luther King Junior Dr Unit 40 Lafayette, LA	2.0	1.0	873	$800	$0.92	45d	1	1.25mi
815 Martin Luther King Junior Dr Apt 29 Lafayette, LA	2.0	1.0	873	$800	$0.92	23d	1	1.25mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	23d	1	1.28mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	15d	1	1.28mi
300 Roosevelt St Unit A Lafayette, LA	2.0	2.0	1070	$1,750	$1.64	15d	1	1.30mi
1501 W Saint Mary Blvd Unit B Lafayette, LA	2.0	1.0	832	$1,000	$1.20	15d	1	1.36mi
801 General Mouton Ave Unit 3 Lafayette, LA	2.0	1.0	800	$850	$1.06	45d	1	1.36mi
111 Sternberg Dr Lafayette, LA	3.0	2.0	1050	$900	$0.86	45d	1	1.46mi
419 Saint Joseph St Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	15d	1	1.48mi
246 Paul Breaux Ave Lafayette, LA	3.0	1.0	989	$1,100	$1.11	45d	1	1.48mi
914 Saint Patrick St Lafayette, LA	2.0	1.0	1200	$1,295	$1.08	45d	1	1.50mi

Listing history 32 events

1. 2026-06-21
   days on market $55,000 Active 55 DOM
2. 2026-06-18
   days on market $55,000 Active 52 DOM
3. 2026-06-17
   days on market $55,000 Active 51 DOM
4. 2026-06-16
   days on market $55,000 Active 50 DOM
5. 2026-06-15
   days on market $55,000 Active 49 DOM
6. 2026-06-14
   days on market $55,000 Active 47 DOM
7. 2026-06-13
   days on market $55,000 Active 46 DOM
8. 2026-06-10
   days on market $55,000 Active 44 DOM
9. 2026-06-09
   days on market $55,000 Active 43 DOM
10. 2026-06-08
    days on market $55,000 Active 42 DOM
11. 2026-06-07
    days on market $55,000 Active 41 DOM
12. 2026-06-05
    days on market $55,000 Active 38 DOM
13. 2026-06-03
    days on market $55,000 Active 37 DOM
14. 2026-06-02
    days on market $55,000 Active 36 DOM
15. 2026-06-01
    days on market $55,000 Active 35 DOM
16. 2026-05-31
    days on market $55,000 Active 34 DOM
17. 2026-05-30
    days on market $55,000 Active 33 DOM
18. 2026-04-27
    listed $55,000 Active 764-char remark
19. 2026-01-18
    historical $795
20. 2025-12-17
    listed $795
21. 2025-08-22
    price $75,000
22. 2025-08-06
    listed $85,000 Active
23. 2025-06-24
    historical $795
24. 2025-05-29
    price $795
25. 2025-05-15
    listed $925
26. 2021-07-21
    soldstatus $1,187,500
27. 2014-02-28
    soldstatus $38,977

    Show marketing remark (236 chars)

    Solid built, a century old house, 3 large bedrooms, high ceilings, kitchen was added in 1970 (14 x 20), huge backyard fenced in (50x168) A must see, appraisal $75,000, assessed value $69,000. Lots of parking, great home , greater price.

28. 2013-10-20
    listed $42,700

    Show marketing remark (236 chars)

    Solid built, a century old house, 3 large bedrooms, high ceilings, kitchen was added in 1970 (14 x 20), huge backyard fenced in (50x168) A must see, appraisal $75,000, assessed value $69,000. Lots of parking, great home , greater price.

29. 2009-03-05
    soldstatus $30,000
30. 2009-01-27
    listed $29,900
31. 2003-12-10
    soldstatus $35,000
32. 2003-02-08
    listed $35,000

ⓘ 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: $754 · $63/mo
• Projected year-2 tax: $754 · $63/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: $13,931
• − Mortgage interest: −$3,081
• − Property taxes: −$754
• − Insurance: −$275
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$1,600
• Taxable income: $5,992
• Est. tax owed @ 24.0%: −$1,438
• After-tax cash flow: $5,077/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

+57.1% since first listed

15 events — show timeline

• 2026-04-27 Listed $55,000 AcadianaMLS
• 2026-01-18 Rental Removed $795 BUILDIUM
• 2025-12-17 Listed for Rent $795 BUILDIUM
• 2025-08-22 Price Changed $75,000 AcadianaMLS
• 2025-08-06 Listed $85,000 AcadianaMLS
• 2025-06-24 Rental Removed $795 BUILDIUM
• 2025-05-29 Price Changed $795 BUILDIUM
• 2025-05-15 Listed for Rent $925 BUILDIUM
• 2021-07-21 Sold (Public Records) $1,187,500 Public Records
• 2014-02-28 Sold (MLS) $38,977 AcadianaMLS
• 2013-10-20 Listed $42,700 AcadianaMLS
• 2009-03-05 Sold (MLS) $30,000 AcadianaMLS
• 2009-01-27 Listed $29,900 AcadianaMLS
• 2003-12-10 Sold (MLS) $35,000 AcadianaMLS
• 2003-02-08 Listed $35,000 AcadianaMLS

Property tax history

+2.3%/yr

Latest (2025): $754 · -1.1% YoY. Source: county tax records.