201 Alex St · Lafayette, LA 70506

$119,900

4 bd · 2.0 ba · 1,554 sqft · SingleFamily · 541 Days on market

8,400 sqft lot $77/sqft · 12% below area Est $137k · 12% 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 +13.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Schools +3.6/10.0
• 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

Cute cottage with a rear garage apartment in a quiet neighborhood, convenient location to Ambassador Caffery, Congress St, Cajun Field complex. This 2 bedroom, 1 bath home has a large eat-in kitchen that features a range oven and refrigerator and a small pantry. there are 3 heat/cool window units and a large wall heater. There is carpet in the living room, vinyl in the kitchen and bathroom, and wood floors in the bedrooms. The home and the apartment are both leased: the home is $800 and the garage apartment for $450. DO NOT DISTURB THE TENANTS. Write your offer, include the clause, ''Subject to visual inspection..'' When the offer becomes a contract, schedule your inspections. When you see the interior, if you are not satisfied, cancel the contract. But you will be satisfied, because this property is a great opportunity.

Key facts

• Vinyl in the kitchen
• 8,400 sq ft lot
• Garage

Tags

• REAR GARAGE APARTMENT
• CARPET IN THE LIVING ROOM
• VINYL IN THE KITCHEN
• WOOD FLOORS IN THE BEDROOMS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 fast (+4.1%/yr); 413 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 32% 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 $829 of loan paydown is wiped out by about $4k 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 541 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 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.

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 $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 541 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.29% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.31%
• DSCR: 1.81
• GRM: 6.5

CMA / ARV

• ARV (median comp): $136,848
• List price: $119,900
• Delta: -12.38%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Norine St	0.11mi	3/3.0 (-1)	1,525 (-2%)	24mo	$190,000	$125	63

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: -9.6%
• Equity multiple: 0.64×
• Total profit: $-12,000
• Equity at exit: $17,877

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $4,845
• Equity at exit: $10,367

Cash invested: $33,572 (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: 413
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,549 high
• Mortgage (P&I): −$629
• Tax from tax record: −$33 /mo · $392/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $86

Break-even live

Break-even rent $1,440

Max offer price $119,900

Occupancy floor 89%

Sensitivity live

Price	-10% $153	-5% $120	+0% $86	+5% $52	+10% $18
Rent	-10% $-37	-5% $24	+0% $86	+5% $147	+10% $208
Rate	-1.0pp $146	-0.5pp $116	base $86	+0.5pp $55	+1.0pp $23

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Dulles Dr Lafayette, LA	1.0–3.0	1.0–3.0	1107	$1,462	$1.32	14d	23	1.03mi
1140 Madeline Ave Lafayette, LA	4.0	1.0	1225	$850	$0.69	44d	1	1.19mi
111 Sternberg Dr Lafayette, LA	3.0	2.0	1050	$900	$0.86	44d	1	1.27mi
105 San Carlos Cir Lafayette, LA	3.0	2.0	1580	$1,600	$1.01	44d	1	1.38mi
111 Valencia Dr Lafayette, LA	3.0	2.0	1678	$1,750	$1.04	44d	1	1.47mi

Listing history 25 events

1. 2026-06-21
   days on market $119,900 Active 541 DOM
2. 2026-06-18
   days on market $119,900 Active 538 DOM
3. 2026-06-17
   days on market $119,900 Active 537 DOM
4. 2026-06-16
   days on market $119,900 Active 536 DOM
5. 2026-06-15
   days on market $119,900 Active 535 DOM
6. 2026-06-14
   days on market $119,900 Active 533 DOM
7. 2026-06-13
   days on market $119,900 Active 532 DOM
8. 2026-06-10
   days on market $119,900 Active 530 DOM
9. 2026-06-09
   days on market $119,900 Active 529 DOM
10. 2026-06-08
    days on market $119,900 Active 528 DOM
11. 2026-06-07
    days on market $119,900 Active 527 DOM
12. 2026-06-05
    days on market $119,900 Active 524 DOM
13. 2026-06-03
    days on market $119,900 Active 523 DOM
14. 2026-06-02
    days on market $119,900 Active 522 DOM
15. 2026-06-01
    days on market $119,900 Active 521 DOM
16. 2026-05-31
    days on market $119,900 Active 520 DOM
17. 2026-05-30
    days on market $119,900 Active 519 DOM
18. 2025-12-12
    status Active 834-char remark

    Show marketing remark (834 chars)

    Cute cottage with a rear garage apartment in a quiet neighborhood, convenient location to Ambassador Caffery, Congress St, Cajun Field complex. This 2 bedroom, 1 bath home has a large eat-in kitchen that features a range oven and refrigerator and a small pantry. there are 3 heat/cool window units and a large wall heater. There is carpet in the living room, vinyl in the kitchen and bathroom, and wood floors in the bedrooms. The home and the apartment are both leased: the home is $800 and the garage apartment for $450. DO NOT DISTURB THE TENANTS. Write your offer, include the clause, ''Subject to visual inspection..'' When the offer becomes a contract, schedule your inspections. When you see the interior, if you are not satisfied, cancel the contract. But you will be satisfied, because this property is a great opportunity.

19. 2024-12-30
    status Active 834-char remark

    Show marketing remark (834 chars)

    Cute cottage with a rear garage apartment in a quiet neighborhood, convenient location to Ambassador Caffery, Congress St, Cajun Field complex. This 2 bedroom, 1 bath home has a large eat-in kitchen that features a range oven and refrigerator and a small pantry. there are 3 heat/cool window units and a large wall heater. There is carpet in the living room, vinyl in the kitchen and bathroom, and wood floors in the bedrooms. The home and the apartment are both leased: the home is $800 and the garage apartment for $450. DO NOT DISTURB THE TENANTS. Write your offer, include the clause, ''Subject to visual inspection..'' When the offer becomes a contract, schedule your inspections. When you see the interior, if you are not satisfied, cancel the contract. But you will be satisfied, because this property is a great opportunity.

20. 2024-12-16
    status Pending 834-char remark

    Show marketing remark (834 chars)

    Cute cottage with a rear garage apartment in a quiet neighborhood, convenient location to Ambassador Caffery, Congress St, Cajun Field complex. This 2 bedroom, 1 bath home has a large eat-in kitchen that features a range oven and refrigerator and a small pantry. there are 3 heat/cool window units and a large wall heater. There is carpet in the living room, vinyl in the kitchen and bathroom, and wood floors in the bedrooms. The home and the apartment are both leased: the home is $800 and the garage apartment for $450. DO NOT DISTURB THE TENANTS. Write your offer, include the clause, ''Subject to visual inspection..'' When the offer becomes a contract, schedule your inspections. When you see the interior, if you are not satisfied, cancel the contract. But you will be satisfied, because this property is a great opportunity.

21. 2024-11-22
    listed $119,900 Active 834-char remark

    Show marketing remark (834 chars)

    Cute cottage with a rear garage apartment in a quiet neighborhood, convenient location to Ambassador Caffery, Congress St, Cajun Field complex. This 2 bedroom, 1 bath home has a large eat-in kitchen that features a range oven and refrigerator and a small pantry. there are 3 heat/cool window units and a large wall heater. There is carpet in the living room, vinyl in the kitchen and bathroom, and wood floors in the bedrooms. The home and the apartment are both leased: the home is $800 and the garage apartment for $450. DO NOT DISTURB THE TENANTS. Write your offer, include the clause, ''Subject to visual inspection..'' When the offer becomes a contract, schedule your inspections. When you see the interior, if you are not satisfied, cancel the contract. But you will be satisfied, because this property is a great opportunity.

22. 2024-10-21
    historical $800
23. 2024-06-27
    listed $800
24. 2024-01-12
    historical $800
25. 2023-12-26
    listed $800

ⓘ 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: $392 · $33/mo
• Projected year-2 tax: $659 · $55/mo
• Expected delta: +$268/yr (+$22/mo · 68.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $18,585
• − Mortgage interest: −$6,716
• − Property taxes: −$392
• − Insurance: −$5,718
• − Repairs & maintenance: −$1,487
• − Management: −$1,487
• − Depreciation: −$3,488
• Taxable loss: −$703
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $1,196/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

8 events — show timeline

• 2025-12-12 Relisted — AcadianaMLS
• 2024-12-30 Relisted — AcadianaMLS
• 2024-12-16 Pending — AcadianaMLS
• 2024-11-22 Listed $119,900 AcadianaMLS
• 2024-10-21 Rental Removed $800 RAAMLS
• 2024-06-27 Listed for Rent $800 RAAMLS
• 2024-01-12 Rental Removed $800 RAAMLS
• 2023-12-26 Listed for Rent $800 RAAMLS

Property tax history

+2.3%/yr

Latest (2025): $392 · -1.1% YoY. Source: county tax records.