114 Erika Dr · Lafayette, LA 70506

$185,000

3 bd · 2.0 ba · 1,644 sqft · SingleFamily public records · 13 Days on market

Built 2005 4,791 sqft lot Est $206k · 10% under

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Why this score? — see what drove the D+ 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 +15.4/30.0
• ARV discount +12.0/15.0
• DSCR +4.7/10.0
• 1% rule +3.8/10.0
• 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

Open floor plan with split bedrooms. Hardwood floors in foyer, living, dining & hallways. Ceramic in kitchen & baths. Kitchen with breakfast bar & custom cabinets, master with whirlpool & separate shower. Two car garage, deck, wood fence. Special touches through out. Professional Landscaping.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 2005

Property features AI

Exterior

• Parking: Attached garage with 2 covered spaces (2 total parking spaces)
• Utilities: Natural gas (Atmos); Public sewer; City electric
• Home design: Single family residence
• Construction: Brick veneer exterior; Asbestos shingle and composition roof
• Exterior features: Paved road frontage

Interior

• Kitchen: Dishwasher
• Flooring: Carpet; Tile; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Double vanity; Tile countertops; Gas-log fireplace
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-53 ($-641/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (12.1% below list).
• Recommended offer: $163k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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.
• Zoned schools: Scott Middle School (math 20% / reading 28%, grade F, #143 of 218 statewide, top 65%, 559 students, 65% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 413 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 34% 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 $1k of loan paydown is wiped out by about $6k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $125/mo.
• Climate carrying-cost: in FEMA flood zone A (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 $162,706 (12.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.66%
• DSCR: 1.07
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $205,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 San Carlos Cir	0.25mi	3/2.0	1,579 (-4%)	3mo	$192,000	$122	79
211 Federal St	0.19mi	3/2.0	1,485 (-10%)	1mo	$189,000	$127	74
715 Omega Dr	0.48mi	3/2.0	1,586 (-4%)	2mo	$199,000	$125	70
118 Granada Dr	0.40mi	3/2.0	1,742 (+6%)	2mo	$200,000	$115	70
113 Valencia Dr	0.35mi	3/2.0	1,846 (+12%)	2mo	$185,000	$100	61
223 Ole Colony Rd	0.35mi	3/2.0	1,870 (+14%)	3mo	$210,000	$112	59
121 Case Ln	0.70mi	4/2.0 (+1)	1,686 (+3%)	1mo	$210,000	$125	57
108 Montgomery Dr	0.68mi	3/2.0	1,533 (-7%)	2mo	$170,000	$111	56
206 Kees Cir	0.48mi	3/2.0	1,850 (+12%)	3mo	$265,000	$143	54
409 Atmos Energy Dr	0.55mi	3/2.0	1,848 (+12%)	2mo	$272,500	$147	52
100 Dijon Dr	0.65mi	3/2.0	1,476 (-10%)	2mo	$192,500	$130	51
223 Berchman Oaks Dr	0.72mi	3/2.0	1,456 (-11%)	4mo	$254,900	$175	44

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: -17.0%
• Equity multiple: 0.39×
• Total profit: $-31,465
• Equity at exit: $27,584

10-year hold

• IRR: -6.8%
• Equity multiple: 0.54×
• Total profit: $-23,747
• Equity at exit: $15,995

Cash invested: $51,800 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,627 high
• Mortgage (P&I): −$970
• Tax from tax record: −$166 /mo · $1,996/yr
• Insurance: −$77
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-53

Break-even live

Break-even rent $1,695

Max offer price $175,562

Occupancy floor 98%

Sensitivity live

Price	-10% $51	-5% $-1	+0% $-53	+5% $-106	+10% $-158
Rent	-10% $-182	-5% $-118	+0% $-53	+5% $11	+10% $75
Rate	-1.0pp $40	-0.5pp $-6	base $-53	+0.5pp $-101	+1.0pp $-150

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Dublin Cir Unit A Lafayette, LA	3.0	2.5	2200	$1,895	$0.86	14d	1	0.36mi
111 Valencia Dr Lafayette, LA	3.0	2.0	1678	$1,750	$1.04	45d	1	0.37mi
105 San Carlos Cir Lafayette, LA	3.0	2.0	1580	$1,600	$1.01	45d	1	0.42mi
101 Wilbourn Blvd #503 Lafayette, LA	2.0	1.5	1100	$1,300	$1.18	14d	1	0.55mi
101 Wilbourn Blvd #304 Lafayette, LA	2.0	1.5	1150	$1,275	$1.11	45d	1	0.57mi
203 Crystal Ln Lafayette, LA	3.0	2.0	1200	$1,550	$1.29	14d	1	0.61mi
715 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$990	$1.10	45d	5	0.79mi
655 Marie Antoinette St Lafayette, LA	1.0–2.0	1.0–2.0	900	$1,196	$1.33	14d	14	0.82mi
411 Dulles Dr Lafayette, LA	1.0–3.0	1.0–3.0	1107	$1,462	$1.32	14d	23	0.92mi
108 Notre Dame Dr Lafayette, LA	3.0	3.0	1700	$1,700	$1.00	45d	1	0.93mi
401 Strasbourg Dr Lafayette, LA	3.0	2.0	1500	$1,450	$0.97	45d	1	0.96mi
106 Seattle St Lafayette, LA	3.0	2.0	1480	$1,900	$1.28	45d	1	0.99mi
100 Charolais St Unit B Lafayette, LA	2.0	2.0	1171	$1,100	$0.94	14d	1	1.26mi
1313 Apollo Rd Scott, LA	1.0–3.0	1.0–2.0	1100	$2,000	$1.82	14d	10	1.27mi
214 Sunny Ln Lafayette, LA	3.0	2.0	1700	$2,350	$1.38	14d	1	1.30mi
113 Faculty Dr Lafayette, LA	4.0	1.5	1321	$1,495	$1.13	14d	1	1.42mi
108 Appleoak Ave Unit B Lafayette, LA	2.0	2.5	1348	$1,495	$1.11	45d	1	1.48mi

Listing history 7 events

1. 2026-04-30
   status Pending
2. 2026-04-17
   listed $185,000 Active
3. 2008-07-14
   soldstatus
4. 2008-06-30
   soldstatus $180,000 309-char remark

   Show marketing remark (309 chars)

   Open floor plan with split bedrooms. Hardwood floors in foyer, living, dining & hallways. Ceramic in kitchen & baths. Kitchen with breakfast bar & custom cabinets, master with whirlpool & separate shower. Two car garage, deck, wood fence. Special touches through out. Professional Landscaping.

5. 2008-03-14
   listed $187,500 309-char remark

   Show marketing remark (309 chars)

   Open floor plan with split bedrooms. Hardwood floors in foyer, living, dining & hallways. Ceramic in kitchen & baths. Kitchen with breakfast bar & custom cabinets, master with whirlpool & separate shower. Two car garage, deck, wood fence. Special touches through out. Professional Landscaping.

6. 2005-08-31
   soldstatus $164,000 332-char remark

   Show marketing remark (332 chars)

   THIS NEW CONSTRUCTION WILL MAKE A GREAT STARTER HOME. OPEN FLOOR PLAN WITH SPLIT BEDROOMS, HARDWOOD FLOORS IN FOYER, LIVING, DINING AREA, AND HALL. CERAMIC TILE IN KITCHEN AND BATHS. KITCHEN HAS CERAMIC TILE COUNTER TOPS, EATING BAR, AND CUSTOM CABINETS. MASTER BATH OFFERS WHIRLPOOL AND SEPARATE SHOWER. TWO-CAR GARAGE, WOOD FENCE.

7. 2005-05-08
   listed $166,500 332-char remark

   Show marketing remark (332 chars)

   THIS NEW CONSTRUCTION WILL MAKE A GREAT STARTER HOME. OPEN FLOOR PLAN WITH SPLIT BEDROOMS, HARDWOOD FLOORS IN FOYER, LIVING, DINING AREA, AND HALL. CERAMIC TILE IN KITCHEN AND BATHS. KITCHEN HAS CERAMIC TILE COUNTER TOPS, EATING BAR, AND CUSTOM CABINETS. MASTER BATH OFFERS WHIRLPOOL AND SEPARATE SHOWER. TWO-CAR GARAGE, WOOD FENCE.

ⓘ 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: $1,996 · $166/mo
• Projected year-2 tax: $1,996 · $166/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 7/10 Severe FEMA zone A · 96% 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: $19,525
• − Mortgage interest: −$10,363
• − Property taxes: −$1,996
• − Insurance: −$2,428
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$5,382
• Taxable loss: −$3,768
• Est. tax savings @ 24.0%: +$904
• After-tax cash flow: $263/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

+11.1% since first listed

7 events — show timeline

• 2026-04-30 Pending — AcadianaMLS
• 2026-04-17 Listed $185,000 AcadianaMLS
• 2008-07-14 Sold (Public Records) — Public Records
• 2008-06-30 Sold (MLS) $180,000 AcadianaMLS
• 2008-03-14 Listed $187,500 AcadianaMLS
• 2005-08-31 Sold (MLS) $164,000 AcadianaMLS
• 2005-05-08 Listed $166,500 AcadianaMLS

Property tax history

+7.6%/yr

Latest (2025): $1,996 · -1.1% YoY. Source: county tax records.