126 Caladium Ct

Lafayette, LA 70508

$214,900F

3 bd · 2.5 ba · 1,472 sqft · Built 2015 · SingleFamily · Pending · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,574/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $-120/mo
• Annual: $-1,446/yr
• Cap rate: 5.62%
• Cash-on-cash: -2.40%
• DSCR: 0.89
• 1% rule: 0.73%
• Cash to close: $60,172

Investor read

• This is a 3-bed/2.5-bath single-family listed at $215k.
• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (26.7% below list).
• It's been on market 50 days — a 3% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (26.7% below list) — sets the bar for 1% rule.
• 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.
• 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: Ernest Gallet Elementary School (math 74% / reading 68%, grade A-, #23 of 646 statewide, top 4%, 702 students, 40% FRL); Broussard Middle School (math 38% / reading 51%, grade D, #49 of 218 statewide, top 23%, 581 students, 60% FRL); O. Comeaux High School (math 38% / reading 40%, grade F, #86 of 265 statewide, top 33%, 1,098 students, 56% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising (+1.2%/yr); 464 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• Lafayette County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $176k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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.

Questions for listing agent

• 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?
• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.