106 Pigeon Loop · Lafayette, LA 70508

$179,000

3 bd · 2.0 ba · 1,810 sqft · SingleFamily public records · 54 Days on market

Built 1979 10,018 sqft lot $99/sqft · 33% below area Est $261k · 31% 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
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful three bedroom home on a corner lot. The large living room has a fireplace and built-ins. Beautiful brick flooring in the front entry and dining room. The kitchen features a bay window in the breakfast nook. The primary suite has a walk-in closet. The fenced in backyard has a covered patio. Features a storage area and workshop. Some photos have been virtually staged for demonstration purposes only.

Key facts

• Walk-in closet
• Bay window
• Brick flooring

Tags

• CORNER LOT
• FIREPLACE
• BUILT-INS
• BRICK FLOORING
• BAY WINDOW
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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.
• Market conditions: Rents rising (+1.2%/yr); 464 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).
• This rent runs 39% of the median local income ($86k/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 $5k 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 54 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 29y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.57% ✓
• Cap rate: 13.26%
• Cash-on-cash: 24.89%
• DSCR: 2.11
• GRM: 5.3

CMA / ARV

• ARV (median comp): $260,968
• List price: $179,000
• Delta: -31.41%
• 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
213 Durham Dr	0.44mi	3/2.0	1,757 (-3%)	4mo	$295,000	$168	71
219 Durham Dr	0.46mi	3/2.0	1,757 (-3%)	4mo	$295,000	$168	70
108 Eldridge Dr	0.41mi	3/2.0	1,885 (+4%)	10mo	$290,000	$154	66
122 Coconut Grove Cir	0.30mi	3/2.5	1,624 (-10%)	4mo	$230,000	$142	64
100 Coconut Grove Cir	0.29mi	3/2.5	1,617 (-11%)	4mo	$237,500	$147	63
114 Swan Cir	0.40mi	3/2.0	1,603 (-11%)	1mo	$232,500	$145	62
106 Dove Cir	0.36mi	3/2.0	1,651 (-9%)	10mo	$230,000	$139	60
501 Yvette Marie Dr	0.71mi	3/2.0	1,769 (-2%)	6mo	$240,000	$136	58
101 Coconut Grove Cir	0.27mi	3/2.5	1,604 (-11%)	12mo	$215,000	$134	56
106 Kirk Dale Cir	0.68mi	3/2.0	1,874 (+4%)	8mo	$250,000	$133	55
130 Hathaway Dr	0.43mi	3/2.0	2,000 (+10%)	12mo	$299,900	$150	52
210 Porch View Dr	0.51mi	3/3.0	1,947 (+8%)	12mo	$415,000	$213	50

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $5,385
• Equity at exit: $26,689

10-year hold

• IRR: 10.4%
• Equity multiple: 1.73×
• Total profit: $36,560
• Equity at exit: $15,477

Cash invested: $50,120 (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 70508

• Home prices YoY: -34.7%
• Rents YoY: 1.2%
• Active inventory: 464
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,816 high
• Mortgage (P&I): −$939
• Tax from tax record: −$172 /mo · $2,061/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $613

Break-even live

Break-even rent $2,040

Max offer price $179,000

Occupancy floor 73%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 E Martial Ave Lafayette, LA	4.0	2.0	2017	$5,000	$2.48	44d	1	0.18mi
202 Student Ln Lafayette, LA	4.0	2.0	2017	$4,000	$1.98	44d	1	0.19mi
204 Student Ln Lafayette, LA	3.0	2.0	1976	$3,500	$1.77	44d	1	0.20mi
404 E Martial Ave Lafayette, LA	4.0	2.0	2017	$4,000	$1.98	44d	1	0.21mi
402 E Martial Ave Lafayette, LA	3.0	2.0	1500	$4,000	$2.67	44d	1	0.22mi
115 La Rue Vil Lafayette, LA	3.0	2.0	1860	$1,900	$1.02	44d	1	0.27mi
119 Coconut Grove Cir Lafayette, LA	3.0	2.5	1600	$1,800	$1.12	44d	1	0.33mi
150 La Rue Vil Lafayette, LA	3.0	2.0	1650	$1,650	$1.00	13d	1	0.34mi
1521 Camellia Blvd Lafayette, LA	1.0–3.0	1.0–2.0	1246	$2,342	$1.88	13d	16	0.35mi
110 E Martial Ave Lafayette, LA	1.0–3.0	1.0–2.0	1047	$1,535	$1.47	13d	5	0.41mi
5530 Ambassador Caffrey Blvd Lafayette, LA	1.0–3.0	1.0–2.0	1194	$1,875	$1.57	13d	15	0.52mi
201 Settlers Trace Blvd Lafayette, LA	1.0–3.0	1.0–2.0	1024	$1,848	$1.80	13d	12	0.77mi
1510 Kaliste Saloom Rd #404 Lafayette, LA	3.0	2.5	1398	$4,000	$2.86	44d	1	0.81mi
110 Frem Boustany Dr Lafayette, LA	1.0–3.0	1.0–2.0	1026	$2,030	$1.98	21d	15	0.92mi
102 Orchard Park Ave Lafayette, LA	4.0	3.0	2464	$4,200	$1.70	13d	1	0.95mi
104 shirekeep Ln Lafayette, LA	2.0	2.5	1311	$1,985	$1.51	13d	1	0.98mi
104 shirekeep Ln Lafayette, LA	2.0	2.5	1311	$2,075	$1.58	44d	1	0.98mi
302 Richland Ave Unit 103C Lafayette, LA	2.0	2.0	1409	$4,200	$2.98	44d	1	1.07mi
210 Polly Ln Lafayette, LA	1.0–3.0	1.0–2.0	1064	$1,686	$1.58	13d	23	1.09mi
207 Summerland Key Ln Lafayette, LA	4.0	3.0	2018	$2,350	$1.16	44d	1	1.21mi
536 Settlers Trace Blvd Lafayette, LA	1.0–3.0	1.0–2.0	1103	$1,795	$1.63	13d	10	1.25mi
113 Templeton Dr Lafayette, LA	3.0	2.5	2050	$3,000	$1.46	44d	1	1.30mi
303 Barataria Bay Pt Lafayette, LA	3.0	2.5	1556	$1,850	$1.19	13d	1	1.36mi
13 Heatherstone Dr Lafayette, LA	3.0	2.0	1995	$2,800	$1.40	21d	1	1.36mi
304 Barataria Bay Pt Lafayette, LA	3.0	2.5	1712	$1,800	$1.05	44d	1	1.38mi
108 Beaulac Ln Lafayette, LA	2.0	2.0	1450	$2,950	$2.03	44d	1	1.41mi
207 Harbor Bend Blvd Lafayette, LA	3.0	2.0	1650	$1,595	$0.97	44d	1	1.42mi
122 S Beadle Rd Lafayette, LA	3.0	2.0	1500	$1,500	$1.00	44d	1	1.42mi

Listing history 20 events

1. 2026-05-07
   status Pending 410-char remark

   Show marketing remark (410 chars)

   Wonderful three bedroom home on a corner lot. The large living room has a fireplace and built-ins. Beautiful brick flooring in the front entry and dining room. The kitchen features a bay window in the breakfast nook. The primary suite has a walk-in closet. The fenced in backyard has a covered patio. Features a storage area and workshop. Some photos have been virtually staged for demonstration purposes only.

2. 2026-05-01
   price $179,000 410-char remark

   Show marketing remark (410 chars)

   Wonderful three bedroom home on a corner lot. The large living room has a fireplace and built-ins. Beautiful brick flooring in the front entry and dining room. The kitchen features a bay window in the breakfast nook. The primary suite has a walk-in closet. The fenced in backyard has a covered patio. Features a storage area and workshop. Some photos have been virtually staged for demonstration purposes only.

3. 2026-04-27
   status Active 410-char remark

   Show marketing remark (410 chars)

   Wonderful three bedroom home on a corner lot. The large living room has a fireplace and built-ins. Beautiful brick flooring in the front entry and dining room. The kitchen features a bay window in the breakfast nook. The primary suite has a walk-in closet. The fenced in backyard has a covered patio. Features a storage area and workshop. Some photos have been virtually staged for demonstration purposes only.

4. 2026-04-13
   status Pending 410-char remark

   Show marketing remark (410 chars)

   Wonderful three bedroom home on a corner lot. The large living room has a fireplace and built-ins. Beautiful brick flooring in the front entry and dining room. The kitchen features a bay window in the breakfast nook. The primary suite has a walk-in closet. The fenced in backyard has a covered patio. Features a storage area and workshop. Some photos have been virtually staged for demonstration purposes only.

5. 2026-02-28
   listed $194,000 Active 410-char remark

   Show marketing remark (410 chars)

   Wonderful three bedroom home on a corner lot. The large living room has a fireplace and built-ins. Beautiful brick flooring in the front entry and dining room. The kitchen features a bay window in the breakfast nook. The primary suite has a walk-in closet. The fenced in backyard has a covered patio. Features a storage area and workshop. Some photos have been virtually staged for demonstration purposes only.

6. 2025-09-22
   price $210,000
7. 2025-08-28
   listed $234,000 Active
8. 2025-07-16
   status Active
9. 2025-05-14
   status Pending
10. 2025-04-23
    price $214,900
11. 2025-04-03
    price $225,000
12. 2025-03-13
    price $239,900
13. 2025-02-12
    price $245,000
14. 2025-01-29
    listed $249,900 Active
15. 2015-12-31
    soldstatus $205,000
16. 2015-11-03
    listed $199,000
17. 2006-07-28
    soldstatus $163,901
18. 2006-06-26
    listed $163,900
19. 1997-10-31
    soldstatus $106,000
20. 1997-08-27
    listed $109,000

ⓘ 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: $2,061 · $172/mo
• Projected year-2 tax: $2,061 · $172/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 4/10 Moderate FEMA zone AE · 24% 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,792
• − Mortgage interest: −$10,027
• − Property taxes: −$2,061
• − Insurance: −$6,014
• − Repairs & maintenance: −$2,703
• − Management: −$2,703
• − Depreciation: −$5,207
• Taxable income: $5,077
• Est. tax owed @ 24.0%: −$1,218
• After-tax cash flow: $6,138/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): 40,592
• Household income: $86,005
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 1860.0

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 (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 7% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 20% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 3% French/Haitian/Cajun 2% 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: ▼ -76.28%
• Current HPI: 143.6305
• Rent YoY: ▲ 1.23%
• 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

+64.2% since first listed

20 events — show timeline

• 2026-05-07 Pending — AcadianaMLS
• 2026-05-01 Price Changed $179,000 AcadianaMLS
• 2026-04-27 Relisted — AcadianaMLS
• 2026-04-13 Pending — AcadianaMLS
• 2026-02-28 Listed $194,000 AcadianaMLS
• 2025-09-22 Price Changed $210,000 AcadianaMLS
• 2025-08-28 Listed $234,000 AcadianaMLS
• 2025-07-16 Relisted — AcadianaMLS
• 2025-05-14 Pending — AcadianaMLS
• 2025-04-23 Price Changed $214,900 AcadianaMLS
• 2025-04-03 Price Changed $225,000 AcadianaMLS
• 2025-03-13 Price Changed $239,900 AcadianaMLS
• 2025-02-12 Price Changed $245,000 AcadianaMLS
• 2025-01-29 Listed $249,900 AcadianaMLS
• 2015-12-31 Sold (MLS) $205,000 AcadianaMLS
• 2015-11-03 Listed $199,000 AcadianaMLS
• 2006-07-28 Sold (MLS) $163,901 AcadianaMLS
• 2006-06-26 Listed $163,900 AcadianaMLS
• 1997-10-31 Sold (MLS) $106,000 AcadianaMLS
• 1997-08-27 Listed $109,000 AcadianaMLS

Property tax history

+9.6%/yr

Latest (2025): $2,061 · -1.1% YoY. Source: county tax records.