824 Cleveland St · Lake Charles, LA 70601

$178,500

3 bd · 2.0 ba · 1,789 sqft · SingleFamily · 10 Days on market

Built 1930 7,405 sqft lot Est $234k · 24% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.4/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CRAFTSMAN DREAM ON CLEVELAND! Call your agent to see 824 Cleveland St, a beautiful, well-maintained craftsman-era home built to last multiple lifetimes! In addition to the exterior beauty of this charming cottage, raised brick flower beds and a lush lawn make for an inviting curb appeal. Come inside to find original features throughout, including the gleaming pine floors and all the finely crafted woodwork and millwork. This home boast a HUGE SUNROOM overlooking the back lawn and landscaping. NEW WINDOWS bring extra efficiency to this 3 bed, two bath cutie on Cleveland! Enjoy the connected carport with covered access for the rainy days along with lots of storage space for a home of this per

Key facts

• Gleaming pine floors
• Huge sunroom
• Craftsman era home

Tags

• CRAFTSMAN ERA HOME
• RAISED BRICK FLOWER BEDS
• GLEAMING PINE FLOORS
• FINELY CRAFTED WOODWORK
• HUGE SUNROOM
• NEW WINDOWS

Property features AI

Exterior

• Parking: Carport (1 space); 1 total parking space
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: Single-family residence; Single-story house
• Exterior features: Back yard; Front yard; City lot; Lot dimensions approximately 50' x 151' (0.17 acre)

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Gas fireplace; Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).
• Cap rate 8.9% vs local median 4.3% in Lake Charles — 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 68/100 on livability (#95 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment D-.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.2%/yr); 363 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• This rent runs 45% of the median local income ($50k/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.
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $132k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,500

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.33%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $234,359
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
824 Cleveland St	0.00mi	3/2.0	1,789 (0%)	1mo	$150,000	$84	99
709 6th St	0.16mi	3/2.0	1,855 (+4%)	1mo	$273,056	$147	86
827 Clarence St	0.12mi	3/2.0	1,736 (-3%)	7mo	$205,000	$118	84
1410 Louisiana Ave	0.21mi	3/2.0	1,700 (-5%)	3mo	$264,900	$156	79
1305 Kirkman St	0.03mi	3/2.0	1,976 (+10%)	3mo	$292,000	$148	79
817 5th St	0.04mi	3/2.0	1,550 (-13%)	1mo	$180,000	$116	75
832 Clement St	0.47mi	3/2.5	1,720 (-4%)	2mo	$225,000	$131	68
114 Park Ave	0.63mi	3/2.0	1,834 (+2%)	1mo	$251,000	$137	66
1713 Moss St	0.39mi	3/1.5	1,635 (-9%)	4mo	$206,000	$126	62
903 14th St	0.74mi	3/2.0	1,850 (+3%)	1mo	$43,500	$24	59
216 Park Ave	0.70mi	3/2.0	1,785 (-0%)	11mo	$247,500	$139	58
1149 Hodges St	0.39mi	4/3.0 (+1)	1,958 (+9%)	3mo	$184,500	$94	55

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,885
• Equity at exit: $26,615

10-year hold

• IRR: 13.3%
• Equity multiple: 2.20×
• Total profit: $60,059
• Equity at exit: $15,433

Cash invested: $49,980 (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 70601

• Rents YoY: 6.2%
• Active inventory: 363
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,854 high
• Mortgage (P&I): −$936
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $389

Break-even live

Break-even rent $1,362

Max offer price $178,500

Occupancy floor 74%

Sensitivity live

Price	-10% $490	-5% $439	+0% $389	+5% $338	+10% $288
Rent	-10% $242	-5% $315	+0% $389	+5% $462	+10% $535
Rate	-1.0pp $479	-0.5pp $434	base $389	+0.5pp $342	+1.0pp $295

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: $44,625
• Closing costs: $5,355
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Granger St Lake Charles, LA	3.0	2.5	1450	$1,900	$1.31	44d	1	0.58mi
1731 Elms St Lake Charles, LA	3.0	2.0	1575	$2,000	$1.27	44d	1	0.79mi
1812 Ethel St Lake Charles, LA	3.0	2.0	1589	$3,850	$2.42	44d	1	0.95mi
1300 16th St Lake Charles, LA	2.0	1.5	1344	$1,295	$0.96	21d	1	1.04mi
2002 13th St Lake Charles, LA	4.0	2.0	1560	$1,700	$1.09	21d	1	1.25mi
2116 Creole St Lake Charles, LA	4.0	2.0	1305	$1,500	$1.15	21d	1	1.37mi
2700 Ernest St Lake Charles, LA	1.0–3.0	1.0–2.0	1054	$1,598	$1.52	14d	1	1.49mi

Listing history 5 events

1. 2026-04-30
   status Pending
2. 2026-04-23
   status Active
3. 2026-04-11
   status Pending
4. 2026-04-08
   listed $178,500 Active
5. 2011-08-11
   soldstatus $132,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $982 · $82/mo
• Expected delta: +$193/yr (+$16/mo · 24.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,252
• − Mortgage interest: −$9,999
• − Property taxes: −$789
• − Insurance: −$892
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$5,193
• Taxable income: $1,818
• Est. tax owed @ 24.0%: −$436
• After-tax cash flow: $4,228/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: Calcasieu Parish
• NCES district ID: 2200330
• Math proficiency: 30% ▼ -39.00%
• Reading proficiency: 44% ▼ -33.00%
• Median HH income: $44,700
• Composite: 31.45/100
• National rank: #5979
• State rank: #29 of 98 in LA

Livability — Lake Charles

• Score: 68/100
• State rank: #95
• US rank: #9820

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Charles, LA
• County: Calcasieu Parish · 170,889 people
• City population: 133,538
• Metro: Lake Charles, LA
• Population (ZIP): 30,872
• Household income: $49,992
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1304.0

Population outlook (Calcasieu County) Hauer SSP2

• Today (2025): 212,179 people
• By 2030: 218,199 · +2.8%
• By 2040: 228,486 · +7.7%
• By 2050: 236,208 · +11.3%
• By 2075: 251,696 · +18.6%
• By 2100: 247,848 · +16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 59% White 31% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 7% Iranian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Calcasieu

• 2024 margin: Solid R (+39.6) · D 29.5% · R 69.0% · Other 1.5%
• 2008→2024 swing: -15.0pp toward R · 2008: -24.6pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+35.2 2016: R+33.3 2012: R+28.7 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.32%
• Current HPI: 55.6127
• Rent YoY: ▲ 6.18%
• Metro: Lake Charles, 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

+35.2% since first listed

5 events — show timeline

• 2026-04-30 Pending — SWLAR
• 2026-04-23 Relisted — SWLAR
• 2026-04-11 Pending — SWLAR
• 2026-04-08 Listed $178,500 SWLAR
• 2011-08-11 Sold (Public Records) $132,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $789 · +4.5% YoY. Source: county tax records.