1038 Saint Charles St · Lafayette, LA 70501

$69,500

3 bd · 1.0 ba · 1,023 sqft · SingleFamily public records · 18 Days on market

Built 1960 4,791 sqft lot $68/sqft · 23% below area Est $93k · 25% 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

Cottage style home 2 bedroom 1 bath, central air/heat, fenced in backyard. Close to interstate and shopping!

Key facts

• 4,791 sq ft lot
• Parking
• Built 1960

Property features AI

Exterior

• Parking: Open parking
• Utilities: Public sewer; City electric
• Home design: Single family residence
• Construction: Wood siding frame construction; Composition roof
• Exterior features: Chain link fencing; City street frontage (paved)

Interior

• Kitchen: Electric stove; Refrigerator
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Window unit cooling
• Interior features: Formica counters; Aluminum-framed windows
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.5% 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: Woodvale Elementary School (math 56% / reading 59%, grade C+, #76 of 646 statewide, top 12%, 890 students, 56% FRL); Paul Breaux Middle School (math 30% / reading 37%, grade F, #100 of 218 statewide, top 47%, 680 students, 68% FRL); Northside High School (math 17% / reading 22%, grade F, #186 of 265 statewide, top 73%, 655 students, 83% FRL).
• Market conditions: Rents rising fast (+7.3%/yr); 246 active listings in the ZIP; 24 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).
• This rent runs 45% of the median local income ($33k/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 $481 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 $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask is 5692% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $58k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $68,457 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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: 1.79% ✓
• Cap rate: 15.49%
• Cash-on-cash: 32.83%
• DSCR: 2.46
• GRM: 4.6

CMA / ARV

• ARV (median comp): $92,728
• List price: $69,500
• Delta: -25.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1038 Saint Charles St	0.00mi	3/1.0	1,046 (+2%)	1mo	$57,750	$55	96
404 Attakapas Rd	0.61mi	3/1.0	979 (-4%)	1mo	$71,000	$73	63
213 Attakapas Rd	0.42mi	2/1.0 (-1)	1,034 (+1%)	20mo	$161,040	$156	57
105 Chag St	0.53mi	3/1.0	1,062 (+4%)	16mo	$52,500	$49	56
617 S Sterling St	0.60mi	3/1.0	950 (-7%)	13mo	$40,000	$42	50
717 S Sterling St	0.53mi	3/2.0	1,109 (+8%)	10mo	$123,000	$111	49
730 Saint Charles St	0.44mi	2/1.0 (-1)	900 (-12%)	12mo	$105,000	$117	44
1013 E Vermillion St	0.66mi	2/1.0 (-1)	900 (-12%)	2mo	$48,000	$53	42
508 S Sterling St	0.69mi	3/2.0	1,076 (+5%)	18mo	$141,000	$131	40
518 S Magnolia St	0.69mi	3/2.0	1,092 (+7%)	16mo	$155,000	$142	40

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: 32.7%
• Equity multiple: 2.46×
• Total profit: $28,337
• Equity at exit: $10,363

10-year hold

• IRR: 42.0%
• Equity multiple: 5.82×
• Total profit: $93,889
• Equity at exit: $6,009

Cash invested: $19,460 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$364
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $532

Break-even live

Break-even rent $572

Max offer price $69,500

Occupancy floor 52%

Sensitivity live

Price	-10% $572	-5% $552	+0% $532	+5% $513	+10% $493
Rent	-10% $434	-5% $483	+0% $532	+5% $582	+10% $631
Rate	-1.0pp $567	-0.5pp $550	base $532	+0.5pp $514	+1.0pp $496

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 24 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	0.35mi
114 Choctaw Rd Lafayette, LA	2.0	1.0	1000	$1,200	$1.20	21d	1	0.50mi
1030 9th St Lafayette, LA	2.0	1.0	800	$800	$1.00	44d	1	0.72mi
1002 E Simcoe St Lafayette, LA	4.0	2.0	1100	$950	$0.86	44d	1	0.77mi
801 General Mouton Ave Unit 3 Lafayette, LA	2.0	1.0	800	$850	$1.06	44d	1	0.95mi
1404 General Mouton Ave Lafayette, LA	2.0	2.0	1205	$1,495	$1.24	44d	1	0.96mi
402 Lamar St Lafayette, LA	2.0	2.0	770	$825	$1.07	44d	1	0.97mi
1426 General Mouton Ave Lafayette, LA	2.0	2.0	1205	$1,495	$1.24	44d	1	0.98mi
405 E Convent St Lafayette, LA	2.0	1.0	847	$1,125	$1.33	44d	1	1.02mi
3600 E Simcoe St Lafayette, LA	1.0–3.0	1.0–2.0	1100	$1,300	$1.18	14d	5	1.04mi
300 Roosevelt St Unit A Lafayette, LA	2.0	2.0	1070	$1,750	$1.64	14d	1	1.06mi
908 Lamar St Unit 108 Lafayette, LA	2.0	1.0	1050	$1,025	$0.98	14d	1	1.13mi
330 General Mouton Ave Lafayette, LA	3.0	1.0	1200	$1,500	$1.25	14d	1	1.16mi
305 General Mouton Ave Unit B Lafayette, LA	2.0	1.0	750	$1,250	$1.67	14d	1	1.18mi
300 General Mouton Ave #6 Lafayette, LA	2.0	2.5	1200	$1,600	$1.33	14d	1	1.20mi
213 General Gardner Ave Lafayette, LA	3.0	1.0	1300	$1,750	$1.35	21d	1	1.24mi
701 W Taft St #7 Lafayette, LA	2.0	2.5	1142	$1,600	$1.40	44d	1	1.29mi
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	44d	1	1.34mi
319 Tissington St Lafayette, LA	2.0	1.0	956	$775	$0.81	44d	1	1.36mi
109 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	14d	1	1.38mi
117 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	21d	1	1.38mi
313 Hobson St Lafayette, LA	3.0	1.0	1000	$1,100	$1.10	21d	1	1.39mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	44d	1	1.48mi
610 Sunset Dr Lafayette, LA	2.0	1.0	1000	$800	$0.80	44d	1	1.50mi

Listing history 8 events

1. 2026-05-18
   status Pending 173-char remark
2. 2026-05-13
   price $69,500 173-char remark
3. 2026-04-30
   listed $74,500 Active 173-char remark
4. 2014-01-13
   soldstatus $28,450 108-char remark

   Show marketing remark (108 chars)

   Cottage style home 2 bedroom 1 bath, central air/heat, fenced in backyard. Close to interstate and shopping!

5. 2013-11-02
   listed $28,000 108-char remark

   Show marketing remark (108 chars)

   Cottage style home 2 bedroom 1 bath, central air/heat, fenced in backyard. Close to interstate and shopping!

6. 2007-08-06
   listed $79,000
7. 2006-06-30
   soldstatus $69,900
8. 2006-05-26
   listed $69,900

ⓘ 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: $698 · $58/mo
• Projected year-2 tax: $698 · $58/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 ≥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: $14,947
• − Mortgage interest: −$3,893
• − Property taxes: −$698
• − Insurance: −$348
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,022
• Taxable income: $5,595
• Est. tax owed @ 24.0%: −$1,343
• After-tax cash flow: $5,046/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

-98.3% since first listed

10 events — show timeline

• 2026-06-07 Listed for Rent $1,200 TENANTCLOUD
• 2026-06-03 Sold (MLS) $57,750 AcadianaMLS
• 2026-05-18 Pending — AcadianaMLS
• 2026-05-13 Price Changed $69,500 AcadianaMLS
• 2026-04-30 Listed $74,500 AcadianaMLS
• 2014-01-13 Sold (MLS) $28,450 AcadianaMLS
• 2013-11-02 Listed $28,000 AcadianaMLS
• 2007-08-06 Listed $79,000 AcadianaMLS
• 2006-06-30 Sold (MLS) $69,900 AcadianaMLS
• 2006-05-26 Listed $69,900 AcadianaMLS

Property tax history

+2.2%/yr

Latest (2025): $698 · -1.1% YoY. Source: county tax records.