303 Plaza Village Dr · Lafayette, LA 70506

$195,000

3 bd · 2.0 ba · 1,699 sqft · SingleFamily public records · 269 Days on market

Built 1975 5,662 sqft lot $115/sqft · 10% below area Est $217k · 10% under

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Why this score? — see what drove the D+ 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 +15.7/30.0
• ARV discount +12.1/15.0
• DSCR +4.8/10.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

More space than you'd expect, and all with plenty of functionality. THREE DISTINCT LIVING AREAS or recreation spaces; one could be designated as a media room, hobby room, office or other (larger than many 4th bedrooms). The bonus ''rec'' room in back of home connects to back yard and is that great social space. Roof new in 2016! AC new in 2019! Water heater new in 2022! Some fresh paint on interior and exterior! Brand new bathroom flooring in July 2024! Updated wood laminate as well. Some lighting fixtures updated. Comfortable and sociable layout. Never has flooded and flood insurance will not be mandated!

Key facts

• 5,662 sq ft lot
• Parking
• Built 1975

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/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 $166k (14.9% below list).
• Recommended offer: $166k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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); Lafayette Middle School (math 12% / reading 29%, grade F, #161 of 218 statewide, top 76%, 369 students, 83% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 414 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent runs 35% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.
• Current owner paid $122k; list at $195k implies a 59% gain — meaningful room to come down on a strong offer.

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 $165,904 (14.9% below list)

Questions for the listing agent

1. It's been on market 269 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 9.8

CMA / ARV

• ARV (median comp): $216,954
• List price: $195,000
• Delta: -10.12%
• 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
121 Case Ln	0.27mi	4/2.0 (+1)	1,686 (-1%)	1mo	$210,000	$125	80
229 Lyons St	0.20mi	3/2.0	1,591 (-6%)	1mo	$213,400	$134	80
155 Emerite Dr	0.57mi	3/2.0	1,737 (+2%)	2mo	$195,000	$112	68
118 Granada Dr	0.56mi	3/2.0	1,742 (+2%)	2mo	$200,000	$115	68
116 St Germaine Cir	0.20mi	3/2.5	1,500 (-12%)	2mo	$240,000	$160	68
120 Oakbend Dr	0.53mi	3/2.0	1,622 (-4%)	0mo	$240,000	$148	67
100 Dijon Dr	0.29mi	3/2.0	1,476 (-13%)	2mo	$192,500	$130	63
715 Omega Dr	0.55mi	3/2.0	1,586 (-7%)	2mo	$199,000	$125	62
700 Pandora St	0.17mi	4/2.5 (+1)	1,456 (-14%)	2mo	$182,000	$125	60
108 Montgomery Dr	0.52mi	3/2.0	1,533 (-10%)	2mo	$170,000	$111	58
703 Idlewood Blvd	0.69mi	3/2.0	1,550 (-9%)	2mo	$200,000	$129	51
116 Westchester Dr	0.68mi	3/2.0	1,452 (-14%)	2mo	$185,000	$127	42

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 · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-24,245
• Equity at exit: $29,075

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-6,283
• Equity at exit: $16,860

Cash invested: $54,600 (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 70506

• Home prices YoY: -34.8%
• Rents YoY: 4.1%
• Active inventory: 414
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$120 /mo · $1,443/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $87

Break-even live

Break-even rent $1,549

Max offer price $195,000

Occupancy floor 90%

Sensitivity live

Price	-10% $197	-5% $142	+0% $87	+5% $31	+10% $-24
Rent	-10% $-44	-5% $21	+0% $87	+5% $152	+10% $218
Rate	-1.0pp $185	-0.5pp $136	base $87	+0.5pp $36	+1.0pp $-15

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Seattle St Lafayette, LA	3.0	2.0	1480	$1,900	$1.28	45d	1	0.12mi
401 Strasbourg Dr Lafayette, LA	3.0	2.0	1500	$1,450	$0.97	45d	1	0.19mi
203 Crystal Ln Lafayette, LA	3.0	2.0	1200	$1,550	$1.29	15d	1	0.36mi
101 Wilbourn Blvd #304 Lafayette, LA	2.0	1.5	1150	$1,275	$1.11	45d	1	0.46mi
113 Faculty Dr Lafayette, LA	4.0	1.5	1321	$1,495	$1.13	15d	1	0.47mi
101 Wilbourn Blvd #503 Lafayette, LA	2.0	1.5	1100	$1,300	$1.18	15d	1	0.48mi
655 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$1,196	$1.33	15d	14	0.49mi
715 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$990	$1.10	45d	5	0.56mi
123 Highland Dr Lafayette, LA	3.0	2.0	1550	$1,700	$1.10	22d	1	0.60mi
204 Dublin Cir Unit A Lafayette, LA	3.0	2.5	2200	$1,895	$0.86	15d	1	0.62mi
111 Valencia Dr Lafayette, LA	3.0	2.0	1678	$1,750	$1.04	45d	1	0.64mi
105 San Carlos Cir Lafayette, LA	3.0	2.0	1580	$1,600	$1.01	45d	1	0.67mi
201 Castle Row Lafayette, LA	3.0	2.0	1595	$1,800	$1.13	15d	1	0.76mi
214 Sunny Ln Lafayette, LA	3.0	2.0	1700	$2,350	$1.38	15d	1	0.84mi
300 Highland Dr Lafayette, LA	4.0	2.0	2200	$1,900	$0.86	45d	1	0.87mi
106 Maple Dr Lafayette, LA	3.0	2.0	1800	$2,100	$1.17	15d	1	0.89mi
110 Claymore Dr Lafayette, LA	3.0	2.0	1500	$1,500	$1.00	22d	1	1.01mi
411 Dulles Dr Lafayette, LA	1.0–3.0	1.0–3.0	1107	$1,462	$1.32	15d	23	1.01mi
108 Appleoak Ave Unit B Lafayette, LA	2.0	2.5	1348	$1,495	$1.11	45d	1	1.10mi
100 Charolais St Unit B Lafayette, LA	2.0	2.0	1171	$1,100	$0.94	15d	1	1.20mi
3121 Johnston St #121 Lafayette, LA	2.0	2.0	1200	$1,400	$1.17	45d	1	1.48mi

Listing history 25 events

1. 2026-06-21
   days on market $195,000 Active 269 DOM
2. 2026-06-18
   days on market $195,000 Active 266 DOM
3. 2026-06-17
   days on market $195,000 Active 265 DOM
4. 2026-06-16
   days on market $195,000 Active 264 DOM
5. 2026-06-15
   days on market $195,000 Active 263 DOM
6. 2026-06-14
   days on market $195,000 Active 261 DOM
7. 2026-06-13
   days on market $195,000 Active 260 DOM
8. 2026-06-10
   days on market $195,000 Active 258 DOM
9. 2026-06-09
   days on market $195,000 Active 257 DOM
10. 2026-06-08
    days on market $195,000 Active 256 DOM
11. 2026-06-07
    days on market $195,000 Active 255 DOM
12. 2026-06-05
    days on market $195,000 Active 252 DOM
13. 2026-06-03
    days on market $195,000 Active 251 DOM
14. 2026-06-02
    days on market $195,000 Active 250 DOM
15. 2026-06-01
    days on market $195,000 Active 249 DOM
16. 2026-05-31
    days on market $195,000 Active 248 DOM
17. 2026-05-30
    days on market $195,000 Active 247 DOM
18. 2026-03-10
    price $195,000 613-char remark

    Show marketing remark (613 chars)

    More space than you'd expect, and all with plenty of functionality. THREE DISTINCT LIVING AREAS or recreation spaces; one could be designated as a media room, hobby room, office or other (larger than many 4th bedrooms). The bonus ''rec'' room in back of home connects to back yard and is that great social space. Roof new in 2016! AC new in 2019! Water heater new in 2022! Some fresh paint on interior and exterior! Brand new bathroom flooring in July 2024! Updated wood laminate as well. Some lighting fixtures updated. Comfortable and sociable layout. Never has flooded and flood insurance will not be mandated!

19. 2025-10-20
    price $200,000 613-char remark

    Show marketing remark (613 chars)

    More space than you'd expect, and all with plenty of functionality. THREE DISTINCT LIVING AREAS or recreation spaces; one could be designated as a media room, hobby room, office or other (larger than many 4th bedrooms). The bonus ''rec'' room in back of home connects to back yard and is that great social space. Roof new in 2016! AC new in 2019! Water heater new in 2022! Some fresh paint on interior and exterior! Brand new bathroom flooring in July 2024! Updated wood laminate as well. Some lighting fixtures updated. Comfortable and sociable layout. Never has flooded and flood insurance will not be mandated!

20. 2025-09-25
    listed $205,000 Active 613-char remark

    Show marketing remark (613 chars)

    More space than you'd expect, and all with plenty of functionality. THREE DISTINCT LIVING AREAS or recreation spaces; one could be designated as a media room, hobby room, office or other (larger than many 4th bedrooms). The bonus ''rec'' room in back of home connects to back yard and is that great social space. Roof new in 2016! AC new in 2019! Water heater new in 2022! Some fresh paint on interior and exterior! Brand new bathroom flooring in July 2024! Updated wood laminate as well. Some lighting fixtures updated. Comfortable and sociable layout. Never has flooded and flood insurance will not be mandated!

21. 2024-07-20
    price $200,000
22. 2024-07-03
    listed $209,000 Active
23. 2019-05-13
    soldstatus $122,400
24. 2019-05-10
    soldstatus $122,400
25. 2019-04-05
    listed $119,900

ⓘ 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: $1,443 · $120/mo
• Projected year-2 tax: $1,443 · $120/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 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,908
• − Mortgage interest: −$10,923
• − Property taxes: −$1,443
• − Insurance: −$975
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$5,673
• Taxable loss: −$2,290
• Est. tax savings @ 24.0%: +$550
• After-tax cash flow: $1,589/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): 42,318
• Household income: $57,379
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 2095.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 20% Hispanic / Latino 13% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 18% Armenian 1% Slovak 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 9% French/Haitian/Cajun 3% Vietnamese 1%

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: ▼ -75.28%
• Current HPI: 140.8445
• Rent YoY: ▲ 4.12%
• 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

+62.6% since first listed

8 events — show timeline

• 2026-03-10 Price Changed $195,000 AcadianaMLS
• 2025-10-20 Price Changed $200,000 AcadianaMLS
• 2025-09-25 Listed $205,000 AcadianaMLS
• 2024-07-20 Price Changed $200,000 AcadianaMLS
• 2024-07-03 Listed $209,000 AcadianaMLS
• 2019-05-13 Sold (Public Records) $122,400 Public Records
• 2019-05-10 Sold (MLS) $122,400 AcadianaMLS
• 2019-04-05 Listed $119,900 AcadianaMLS

Property tax history

+9.6%/yr

Latest (2025): $1,443 · -1.1% YoY. Source: county tax records.