203 Broussard Hill Dr

Broussard, LA 70518

$259,000C+

4 bd · 2.0 ba · 1,706 sqft · Built 2023 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,064/mo
• Mortgage (P&I): −$1,358
• Tax + insurance: −$432
• HOA: −$42
• Vac / Maint / Mgmt: −$643
• Net cashflow: $589/mo
• Annual: $7,065/yr
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• 1% rule: 1.18%
• Cash to close: $72,520

Investor read

• This is a 4-bed/2.0-bath single-family listed at $259k. Condition is rated good.
• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• It's been on market 50 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $251k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#49 in LA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, employment B+; Watch: amenities F, commute F, health & safety 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: Martial Billeaud Elementary School (math 52% / reading 62%, grade C+, #79 of 646 statewide, top 13%, 822 students, 46% FRL); Broussard Middle School (math 38% / reading 51%, grade D, #49 of 218 statewide, top 23%, 581 students, 60% FRL); O. Comeaux High School (math 38% / reading 40%, grade F, #86 of 265 statewide, top 33%, 1,098 students, 56% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 341 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• Lafayette County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y 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.
• Cap rate 9.0% vs local median 4.7% in Broussard — 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.
• This rent runs 34% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.