3121 Johnston St #212 · Lafayette, LA 70503

$84,000

1 bd · 1.0 ba · 612 sqft · SingleFamily public records · 23 Days on market

Built 1976 435 sqft lot Est $75k · 13% over $191/mo HOA · 21% of rent

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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 +13.5/30.0
• 1% rule +6.0/10.0
• DSCR +4.1/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great quiet upstairs unit in River Stone Condos in the heart of Lafayette, near the new Moncus Park where the local Farmers Market and Artisans are on weekends. Complex has a beautiful pool and BBQ area. Convenient to UL, shopping, movies, food and more. Association dues covers pool maintenance, monthly pest control, basic cable, water and garbage pickup, exterior insurance and maintenance.

Key facts

• Assigned parking
• New inside ac
• Parking

Tags

• NEW INSIDE AC
• COMMUNITY SWIMMING POOL
• ON-SITE LAUNDRY FACILITIES
• ASSIGNED PARKING
• WALKING DISTANCE TO CORNER BAR
• WALKING DISTANCE TO REDS

Property features AI

Finance

• Other: Community clubhouse and pool
• HOA & community: Homeowners association with monthly fee of $191; Association services include accounting, grounds maintenance, pest control, repairs/maintenance, trash; management and pool provided; association handles taxes

Exterior

• Parking: Assigned parking; Open parking available
• Utilities: Public sewer
• Home design: Single family residence / Condominium
• Construction: Brick veneer and frame construction; Composition roof
• Exterior features: Exterior lighting; In-ground private pool; City street frontage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Formica counters; Granite counters; Window treatments; Aluminum window frames; Lighting (interior/exterior noted in exterior features)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $2 ($29/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($921 rent vs $84k).
• Recommended offer: $83k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: Woodvale Elementary School (math 56% / reading 59%, grade C+, #76 of 646 statewide, top 12%, 890 students, 56% FRL); L.J. Alleman Middle School (math 48% / reading 56%, grade C+, #23 of 218 statewide, top 10%, 952 students, 54% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL) — zoned schools at 54% FRL track the district average.
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Lafayette Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 237 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent is only 12% of the median local income ($95k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $67k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $82,740 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 1.10% ✓
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $74,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3121 Johnston St Apt 138	0.00mi	1/1.0	618 (+1%)	2mo	$71,000	$115	97
3121 Johnston St #143	0.00mi	1/1.0	619 (+1%)	8mo	$73,000	$118	91
3121 Johnston St Apt 112	0.00mi	1/1.0	581 (-5%)	3mo	$84,000	$145	89
3121 Johnston St #210	0.00mi	1/1.0	581 (-5%)	10mo	$87,000	$150	84
3121 Johnston St #111	0.00mi	1/1.0	581 (-5%)	15mo	$85,000	$146	79
3121 Johnston St Apt 139	0.03mi	1/1.0	655 (+7%)	11mo	$80,000	$122	78
3121 Johnston St #120	0.00mi	1/1.0	575 (-6%)	15mo	$75,000	$130	78
3121 Johnston St #237	0.00mi	1/1.0	662 (+8%)	15mo	$78,000	$118	74
3121 Johnston St Apt 116	0.00mi	1/1.0	662 (+8%)	18mo	$80,000	$121	71
3121 Johnston St #142	0.00mi	1/1.0	687 (+12%)	20mo	$85,000	$124	63
201 S College Dr #201	0.58mi	1/1.0	570 (-7%)	14mo	$65,500	$115	50
201 S College Rd #115	0.57mi	2/1.0 (+1)	696 (+14%)	14mo	$74,000	$106	34

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 · 0.36% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.33×
• Total profit: $-15,735
• Equity at exit: $12,525

10-year hold

• IRR: -21.6%
• Equity multiple: 0.05×
• Total profit: $-22,357
• Equity at exit: $7,263

Cash invested: $23,520 (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 70503

• Home prices YoY: -34.0%
• Rents YoY: 0.4%
• Active inventory: 237
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $921 high
• Mortgage (P&I): −$441
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$35
• HOA: −$191
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $2

Break-even live

Break-even rent $917

Max offer price $84,000

Occupancy floor 95%

Sensitivity live

Price	-10% $50	-5% $26	+0% $2	+5% $-21	+10% $-45
Rent	-10% $-70	-5% $-34	+0% $2	+5% $39	+10% $75
Rate	-1.0pp $45	-0.5pp $24	base $2	+0.5pp $-19	+1.0pp $-41

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Westwood Dr Lafayette, LA	1.0	1.0	651	$1,036	$1.59	15d	3	0.76mi
915 S College Rd Lafayette, LA	1.0–2.0	1.0	659	$757	$1.15	15d	5	0.92mi
305 Ella St Unit 3 Lafayette, LA	1.0	1.5	515	$995	$1.93	15d	1	0.95mi
112 Hillside Dr #26 Lafayette, LA	1.0	1.0	741	$995	$1.34	45d	1	1.06mi
115 Sycamore Dr Lafayette, LA	1.0	1.0	690	$900	$1.30	22d	1	1.26mi
655 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$915	$1.02	15d	14	1.29mi
411 Dulles Dr Lafayette, LA	1.0–3.0	1.0–3.0	1107	$867	$0.78	15d	23	1.30mi
715 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$780	$0.87	45d	5	1.31mi
106 Seville Blvd Unit B Lafayette, LA	1.0	1.0	584	$850	$1.46	45d	1	1.33mi
326 Guilbeau Rd #131 Lafayette, LA	1.0	1.0	750	$950	$1.27	45d	1	1.37mi
131 1/2 Mildred St Unit C Lafayette, LA	1.0	1.0	500	$625	$1.25	15d	1	1.41mi
317 Guilbeau Rd Lafayette, LA	1.0–3.0	1.0–1.5	833	$850	$1.02	15d	14	1.45mi

HOA detail

• Monthly dues: $191 · $2,292/yr
• Likely covers: watertrashcablepool

Listing history 29 events

1. 2026-06-21
   days on market $84,000 Active 23 DOM
2. 2026-06-18
   days on market $84,000 Active 20 DOM
3. 2026-06-17
   days on market $84,000 Active 19 DOM
4. 2026-06-16
   days on market $84,000 Active 18 DOM
5. 2026-06-15
   days on market $84,000 Active 17 DOM
6. 2026-06-14
   days on market $84,000 Active 15 DOM
7. 2026-06-13
   days on market $84,000 Active 14 DOM
8. 2026-06-10
   days on market $84,000 Active 12 DOM
9. 2026-06-09
   days on market $84,000 Active 11 DOM
10. 2026-06-08
    days on market $84,000 Active 10 DOM
11. 2026-06-07
    days on market $84,000 Active 9 DOM
12. 2026-06-05
    days on market $84,000 Active 6 DOM
13. 2026-06-03
    days on market $84,000 Active 5 DOM
14. 2026-06-02
    days on market $84,000 Active 4 DOM
15. 2026-06-01
    days on market $84,000 Active 3 DOM
16. 2026-05-31
    days on market $84,000 Active 2 DOM
17. 2026-05-28
    listed $84,000 Active
18. 2026-01-05
    soldstatus $67,000
19. 2025-12-18
    historical $825
20. 2025-12-02
    listed $825
21. 2022-11-17
    historical
22. 2019-08-13
    soldstatus $65,500
23. 2019-08-09
    soldstatus $65,500 394-char remark

    Show marketing remark (394 chars)

    Great quiet upstairs unit in River Stone Condos in the heart of Lafayette, near the new Moncus Park where the local Farmers Market and Artisans are on weekends. Complex has a beautiful pool and BBQ area. Convenient to UL, shopping, movies, food and more. Association dues covers pool maintenance, monthly pest control, basic cable, water and garbage pickup, exterior insurance and maintenance.

24. 2019-06-20
    listed $68,500 394-char remark

    Show marketing remark (394 chars)

    Great quiet upstairs unit in River Stone Condos in the heart of Lafayette, near the new Moncus Park where the local Farmers Market and Artisans are on weekends. Complex has a beautiful pool and BBQ area. Convenient to UL, shopping, movies, food and more. Association dues covers pool maintenance, monthly pest control, basic cable, water and garbage pickup, exterior insurance and maintenance.

25. 2014-07-17
    listed $67,900
26. 2009-07-13
    soldstatus $64,260
27. 2008-12-30
    listed $72,000
28. 2006-05-04
    soldstatus $69,900
29. 2005-12-09
    listed $69,900

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $700 · $58/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,047
• − Mortgage interest: −$4,705
• − Property taxes: −$700
• − Insurance: −$420
• − Repairs & maintenance: −$884
• − Management: −$884
• − HOA: −$2,292
• − Depreciation: −$2,444
• Taxable loss: −$1,281
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $337/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): 28,643
• Household income: $94,688
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 769.0

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 White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 23% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 88% English-only · Spanish 5% French/Haitian/Cajun 3% Other Indo-European 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: ▼ -81.65%
• Current HPI: 158.7094
• Rent YoY: ▲ 0.36%
• 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

+20.2% since first listed

13 events — show timeline

• 2026-05-28 Listed $84,000 AcadianaMLS
• 2026-01-05 Sold (Public Records) $67,000 Public Records
• 2025-12-18 Rental Removed $825 APPFOLIO
• 2025-12-02 Listed for Rent $825 APPFOLIO
• 2022-11-17 Rental Removed — RENT.
• 2019-08-13 Sold (Public Records) $65,500 Public Records
• 2019-08-09 Sold (MLS) $65,500 AcadianaMLS
• 2019-06-20 Listed $68,500 AcadianaMLS
• 2014-07-17 Listed $67,900 AcadianaMLS
• 2009-07-13 Sold (Public Records) $64,260 Public Records
• 2008-12-30 Listed $72,000 AcadianaMLS
• 2006-05-04 Sold (MLS) $69,900 AcadianaMLS
• 2005-12-09 Listed $69,900 AcadianaMLS

Property tax history

+3.3%/yr

Latest (2025): $700 · -1.1% YoY. Source: county tax records.