205 Cassandra Ln · Lafayette, LA 70508

$179,900

3 bd · 2.0 ba · 1,944 sqft · SingleFamily public records · 78 Days on market

Built 1981 9,583 sqft lot $93/sqft · 9% below area Est $205k · 12% under ↓ 3% since listing

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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 +26.0/30.0
• ARV discount +13.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.2/10.0
• 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

Solid 3 bedroom, 2 bath home located in Aurora Park subdivision. Home features a living room with fireplace, large den with a ton of built ins, galley-style kitchen and a large backyard. Call for your showing today!

Key facts

• Galley-style kitchen
• Large backyard
• 9,583 sq ft lot

Tags

• LIVING ROOM WITH FIREPLACE
• LARGE DEN WITH BUILT INS
• GALLEY-STYLE KITCHEN
• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).

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 78 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

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 $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.12% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.64%
• DSCR: 1.47
• GRM: 7.4

CMA / ARV

• ARV (median comp): $204,803
• List price: $179,900
• Delta: -12.16%
• 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
400 Mosser Dr	0.23mi	3/2.0	2,085 (+7%)	3mo	$179,000	$86	74
144 Gordon Crocket Dr	0.18mi	3/2.0	1,726 (-11%)	4mo	$195,000	$113	70
100 Lynn Dr	0.28mi	3/2.0	1,762 (-9%)	9mo	$230,000	$131	64
408 Mosser Dr	0.27mi	3/2.0	1,702 (-12%)	4mo	$229,000	$135	64
120 Sparrowhawk St	0.59mi	3/2.0	1,825 (-6%)	1mo	$265,000	$145	61
307 Aristotle Dr	0.19mi	4/2.5 (+1)	1,761 (-9%)	10mo	$220,000	$125	60
204 Sparrowhawk St	0.67mi	3/2.0	1,825 (-6%)	4mo	$250,000	$137	55
102 Whipple Ave	0.30mi	4/2.0 (+1)	1,655 (-15%)	2mo	$208,000	$126	54
100 Caesar Dr	0.45mi	3/2.5	2,108 (+8%)	12mo	$225,000	$107	53
123 Sparrowhawk St	0.62mi	3/2.0	1,735 (-11%)	5mo	$259,000	$149	49
106 Whitewater Dr	0.73mi	3/2.0	1,666 (-14%)	4mo	$295,000	$177	39
147 Heathwood Dr	0.67mi	3/2.0	1,675 (-14%)	12mo	$293,000	$175	36

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: -2.3%
• Equity multiple: 0.92×
• Total profit: $-4,277
• Equity at exit: $26,824

10-year hold

• IRR: 5.5%
• Equity multiple: 1.37×
• Total profit: $18,770
• Equity at exit: $15,554

Cash invested: $50,372 (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: 7.4×

Monthly cashflow live

• Estimated rent: $2,024 high
• Mortgage (P&I): −$943
• Tax from tax record: −$134 /mo · $1,606/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $447

Break-even live

Break-even rent $1,458

Max offer price $179,900

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Clearwater Dr Broussard, LA	3.0	2.5	1838	$2,200	$1.20	21d	1	0.76mi
200 Tennyson Dr Broussard, LA	3.0	2.5	1843	$2,300	$1.25	13d	1	0.81mi
200 Tennyson Dr Broussard, LA	3.0	2.0	1843	$2,495	$1.35	44d	1	0.81mi
126 Heathwood Dr Broussard, LA	4.0	3.0	1989	$2,500	$1.26	44d	1	0.81mi
404 Sparrowhawk St Broussard, LA	3.0	2.0	1825	$2,200	$1.21	13d	1	0.84mi
620 W Main St Broussard, LA	3.0	2.0	1587	$1,600	$1.01	44d	1	0.94mi
304 Barataria Bay Pt Lafayette, LA	3.0	2.5	1712	$1,800	$1.05	44d	1	1.29mi
303 Barataria Bay Pt Lafayette, LA	3.0	2.5	1556	$1,850	$1.19	13d	1	1.31mi
104 Avalon St Lafayette, LA	3.0	2.0	1895	$1,800	$0.95	44d	1	1.31mi

Listing history 18 events

1. 2026-06-18
   days on market $179,900 Active 78 DOM
2. 2026-06-17
   days on market $179,900 Active 77 DOM
3. 2026-06-16
   days on market $179,900 Active 76 DOM
4. 2026-06-15
   days on market $179,900 Active 75 DOM
5. 2026-06-14
   days on market $179,900 Active 73 DOM
6. 2026-06-13
   pricedays on market $179,900 Active 72 DOM
7. 2026-06-10
   days on market $194,500 Active 70 DOM
8. 2026-06-09
   days on market $194,500 Active 69 DOM
9. 2026-06-08
   days on market $194,500 Active 68 DOM
10. 2026-06-07
    days on market $194,500 Active 67 DOM
11. 2026-06-05
    days on market $194,500 Active 64 DOM
12. 2026-06-03
    days on market $194,500 Active 63 DOM
13. 2026-06-02
    days on market $194,500 Active 62 DOM
14. 2026-06-01
    days on market $194,500 Active 61 DOM
15. 2026-05-31
    days on market $194,500 Active 60 DOM
16. 2026-05-30
    days on market $194,500 Active 59 DOM
17. 2026-05-08
    price $194,500 217-char remark

    Show marketing remark (217 chars)

    Solid 3 bedroom, 2 bath home located in Aurora Park subdivision. Home features a living room with fireplace, large den with a ton of built ins, galley-style kitchen and a large backyard. Call for your showing today!

18. 2026-03-31
    listed $199,900 Active 217-char remark

    Show marketing remark (217 chars)

    Solid 3 bedroom, 2 bath home located in Aurora Park subdivision. Home features a living room with fireplace, large den with a ton of built ins, galley-style kitchen and a large backyard. Call for your showing today!

ⓘ 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: $1,606 · $134/mo
• Projected year-2 tax: $1,606 · $134/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 ≥109°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: $24,285
• − Mortgage interest: −$10,077
• − Property taxes: −$1,606
• − Insurance: −$900
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − Depreciation: −$5,233
• Taxable income: $2,583
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $4,739/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

• 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

-2.7% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $194,500 AcadianaMLS
• 2026-03-31 Listed $199,900 AcadianaMLS

Property tax history

+22.0%/yr

Latest (2025): $1,606 · +169.8% YoY. Source: county tax records.