823 S Sterling St · Lafayette, LA 70501

$65,600

3 bd · 2.0 ba · 1,523 sqft · SingleFamily public records · 111 Days on market

Built 1982 6,520 sqft lot $43/sqft · 36% below area Est $99k · 34% 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
• Rent growth +4.3/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

Key facts

• 6,520 sq ft lot
• Parking
• Built 1982

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $66k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $60k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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 (+7.3%/yr); 246 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• At $1,370/mo this rent would consume 49% of the median local household income ($33k/yr) (locally 2089% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $454 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 32y ago; this cycle's ask has dropped $84k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $66k implies a 63% 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 $59,696 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 2.09% ✓
• Cap rate: 18.01%
• Cash-on-cash: 41.86%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

• ARV (median comp): $98,830
• List price: $65,600
• Delta: -33.62%
• 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
1113 Eleventh St	0.28mi	3/2.0	1,450 (-5%)	14mo	$169,500	$117	67
942 St Charles St	0.26mi	3/2.0	1,650 (+8%)	10mo	$66,000	$40	66
412 S Sterling St	0.30mi	3/2.0	1,650 (+8%)	9mo	$140,000	$85	65
138 N General Marshall St	0.48mi	3/2.0	1,404 (-8%)	1mo	$105,000	$75	64
106 13th St	0.38mi	4/2.0 (+1)	1,388 (-9%)	4mo	$51,000	$37	60
1002 Saint Charles St	0.28mi	3/1.0	1,712 (+12%)	4mo	$50,000	$29	59
123 Park Ave	0.56mi	2/2.0 (-1)	1,613 (+6%)	2mo	$155,000	$96	58
602 Pershing Rd	0.63mi	2/2.0 (-1)	1,596 (+5%)	2mo	$65,000	$41	56
321 Verdun St	0.59mi	3/2.0	1,666 (+9%)	2mo	$33,500	$20	55
1740 E Pinhook Rd	0.61mi	3/2.0	1,425 (-6%)	9mo	$140,984	$99	53
311 Pershing St	0.57mi	3/2.0	1,647 (+8%)	13mo	$125,000	$76	49
109 Shadycrest Ave	0.75mi	2/1.0 (-1)	1,643 (+8%)	1mo	$139,175	$85	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 · 7.35% rent growth · sell at horizon

5-year hold

• IRR: 43.3%
• Equity multiple: 2.98×
• Total profit: $36,447
• Equity at exit: $9,781

10-year hold

• IRR: 51.3%
• Equity multiple: 7.12×
• Total profit: $112,435
• Equity at exit: $5,672

Cash invested: $18,368 (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 70501

• Rents YoY: 7.3%
• Active inventory: 246
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$344
• Tax from tax record: −$70 /mo · $844/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $641

Break-even live

Break-even rent $559

Max offer price $65,600

Occupancy floor 48%

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: $16,400
• Closing costs: $1,968
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 Saint Charles St Lafayette, LA	3.0	2.0	1200	$1,250	$1.04	21d	1	0.10mi
1002 E Simcoe St Lafayette, LA	4.0	2.0	1100	$950	$0.86	44d	1	0.36mi
126 S Refinery St Lafayette, LA	4.0	2.0	1550	$1,495	$0.96	44d	1	0.79mi
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	44d	1	0.89mi
908 Lamar St Unit 108 Lafayette, LA	2.0	1.0	1050	$1,025	$0.98	13d	1	0.92mi
300 Roosevelt St Unit A Lafayette, LA	2.0	2.0	1070	$1,750	$1.64	13d	1	0.92mi
330 General Mouton Ave Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	13d	1	0.95mi
300 General Mouton Ave #6 Lafayette, LA	2.0	2.5	1200	$1,600	$1.33	13d	1	0.97mi
213 General Gardner Ave Lafayette, LA	3.0	1.0	1300	$1,750	$1.35	21d	1	1.00mi
117 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	21d	1	1.01mi
109 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	13d	1	1.01mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	44d	1	1.07mi
1404 General Mouton Ave Lafayette, LA	2.0	2.0	1205	$1,495	$1.24	44d	1	1.07mi
1426 General Mouton Ave Lafayette, LA	2.0	2.0	1205	$1,495	$1.24	44d	1	1.11mi
228 Amelia St Lafayette, LA	3.0	1.5	1796	$2,300	$1.28	21d	1	1.20mi
701 W Taft St #7 Lafayette, LA	2.0	2.5	1142	$1,600	$1.40	44d	1	1.22mi
114 Carlin St Lafayette, LA	2.0	2.5	1200	$2,000	$1.67	44d	1	1.27mi
215 Versailles Blvd Unit 3 Lafayette, LA	3.0	2.0	1800	$1,675	$0.93	21d	1	1.37mi
1011 W Congress St Lafayette, LA	2.0	1.0	1181	$1,400	$1.19	44d	1	1.38mi
1114 W Congress St Lafayette, LA	2.0	1.0	1200	$1,350	$1.12	44d	1	1.45mi
1312 W University Ave Lafayette, LA	3.0	2.0	1700	$1,300	$0.76	44d	1	1.46mi
3600 E Simcoe St Lafayette, LA	1.0–3.0	1.0–2.0	1100	$1,300	$1.18	13d	5	1.48mi

Listing history 14 events

1. 2026-05-05
   price $69,000 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

2. 2026-05-05
   price $69,000 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

3. 2026-04-19
   price $78,000 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

4. 2026-04-19
   price $78,000 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

5. 2026-04-01
   price $93,800 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

6. 2026-04-01
   price $93,800 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

7. 2026-03-16
   price $105,500 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

8. 2026-03-16
   price $105,500 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

9. 2026-02-24
   price $126,200 320-char remark

   Show marketing remark (320 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

10. 2026-02-24
    price $126,200 320-char remark

    Show marketing remark (320 chars)

    NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

11. 2026-02-05
    listed $149,500 Active 320-char remark

    Show marketing remark (320 chars)

    NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

12. 2026-02-05
    listed $149,500 Active 320-char remark

    Show marketing remark (320 chars)

    NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

13. 1995-10-06
    soldstatus $40,300
14. 1994-07-06
    listed $45,000

ⓘ 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: $844 · $70/mo
• Projected year-2 tax: $844 · $70/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 8/10 Severe 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: $16,441
• − Mortgage interest: −$3,675
• − Property taxes: −$844
• − Insurance: −$328
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$1,908
• Taxable income: $7,055
• Est. tax owed @ 24.0%: −$1,693
• After-tax cash flow: $5,995/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): 26,465
• Household income: $33,365
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2089.0

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 Black (73%)
• Race & ethnicity: Black 73% White 18% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 2%

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: ▼ -108.63%
• Current HPI: 81.2963
• Rent YoY: ▲ 7.35%
• 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

+53.3% since first listed

14 events — show timeline

• 2026-05-05 Price Changed $69,000 AcadianaMLS
• 2026-05-05 Price Changed $69,000 GSREIN
• 2026-04-19 Price Changed $78,000 AcadianaMLS
• 2026-04-19 Price Changed $78,000 GSREIN
• 2026-04-01 Price Changed $93,800 AcadianaMLS
• 2026-04-01 Price Changed $93,800 GSREIN
• 2026-03-16 Price Changed $105,500 AcadianaMLS
• 2026-03-16 Price Changed $105,500 GSREIN
• 2026-02-24 Price Changed $126,200 AcadianaMLS
• 2026-02-24 Price Changed $126,200 GSREIN
• 2026-02-05 Listed $149,500 GSREIN
• 2026-02-05 Listed $149,500 AcadianaMLS
• 1995-10-06 Sold (MLS) $40,300 AcadianaMLS
• 1994-07-06 Listed $45,000 AcadianaMLS

Property tax history

+1.6%/yr

Latest (2025): $844 · -1.1% YoY. Source: county tax records.