112 Summit Dr · Lafayette, LA 70507

$149,900

3 bd · 2.0 ba · 1,185 sqft · SingleFamily public records · 68 Days on market

Built 1965 8,712 sqft lot $126/sqft · 7% below area Est $160k · 6% 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 +12.9/30.0
• ARV discount +10.4/15.0
• DSCR +3.9/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 112 Summit Drive in Lafayette-this cute 3 bedroom, 2 bath home offers a clean, refreshed feel and is move-in ready. Recently deep cleaned, the home features a comfortable layout with plenty of natural light throughout. Situated in a great location, you'll enjoy convenient access to nearby shopping at Target, Aldi and the future Buc-ee's plus more at the Louisiana Ave location . The large lot provides plenty of space to spread out, while the beautiful mature trees offer shade and a relaxing outdoor setting. Affordable and well-maintained, this property is a great opportunity for homeowners or investors alike.

Key facts

• 8,712 sq ft lot
• 2 parking spots
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-10 ($-118/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (22.4% below list).
• Recommended offer: $116k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: 330 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $4k 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 68 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 29y 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.
• Current owner paid $71k; list at $150k implies a 111% gain — meaningful room to come down on a strong offer.

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 $116,351 (22.4% 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. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

• ARV (median comp): $160,108
• List price: $149,900
• Delta: -6.38%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Summit Dr	0.02mi	3/1.0	1,235 (+4%)	13mo	$155,000	$126	77
207 Crestline Dr	0.20mi	3/2.0	1,326 (+12%)	8mo	$160,000	$121	64
110 Judge Dr	0.45mi	3/2.0	1,261 (+6%)	10mo	$73,000	$58	60
3905 Moss St	0.44mi	3/1.5	1,248 (+5%)	15mo	$160,000	$128	56
105 Bell North Dr	0.52mi	3/1.5	1,139 (-4%)	19mo	$130,000	$114	51
313 Sidney Martin Rd	0.64mi	3/1.5	1,291 (+9%)	10mo	$125,000	$97	45
26 Morning Glory Sq	0.65mi	2/1.5 (-1)	1,281 (+8%)	7mo	$130,000	$101	44
307 Hilltop Cir	0.73mi	3/1.0	1,071 (-10%)	5mo	$130,000	$121	42
13 Bluebell Cir	0.62mi	3/1.5	1,291 (+9%)	15mo	$125,000	$97	42
145 Harrison Dr	0.67mi	3/1.5	1,312 (+11%)	8mo	$57,000	$43	42
128 Harrison Dr	0.59mi	3/1.5	1,074 (-9%)	17mo	$75,000	$70	40
202 Vancouver Dr	0.74mi	3/2.0	1,310 (+10%)	12mo	$175,000	$134	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-24,965
• Equity at exit: $22,351

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-22,742
• Equity at exit: $12,961

Cash invested: $41,972 (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 70507

• Home prices YoY: -20.6%
• Active inventory: 330
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,164 high
• Mortgage (P&I): −$786
• Tax from tax record: −$80 /mo · $966/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $-10

Break-even live

Break-even rent $1,176

Max offer price $148,162

Occupancy floor 96%

Sensitivity live

Price	-10% $75	-5% $33	+0% $-10	+5% $-52	+10% $-95
Rent	-10% $-102	-5% $-56	+0% $-10	+5% $36	+10% $82
Rate	-1.0pp $66	-0.5pp $28	base $-10	+0.5pp $-49	+1.0pp $-88

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Rue Royale Apt B Lafayette, LA	2.0	1.5	912	$775	$0.85	15d	1	0.14mi
600 Rim Rd Apt 10 Lafayette, LA	2.0	1.0	750	$750	$1.00	15d	1	0.59mi
315 Sidney Martin Rd Unit 1 Lafayette, LA	3.0	1.5	1218	$1,400	$1.15	22d	1	0.64mi
200 High Meadows Blvd #121 Lafayette, LA	2.0	1.0	800	$900	$1.12	15d	1	0.75mi
13 Larkspur Ln Unit 13 Lafayette, LA	3.0	1.5	1380	$1,200	$0.87	45d	1	0.81mi
201 High Meadows Blvd Unit 208 Lafayette, LA	2.0	1.5	900	$1,100	$1.22	22d	1	0.82mi
2830 Louisiana Ave #6 Lafayette, LA	2.0	1.5	1100	$950	$0.86	15d	1	1.17mi
2826 Louisiana Ave #907 Lafayette, LA	2.0	2.5	1100	$950	$0.86	22d	1	1.24mi
2826 Louisiana Ave #1111 Lafayette, LA	2.0	2.0	1140	$1,200	$1.05	45d	1	1.24mi
2820 Louisiana Ave Lafayette, LA	1.0–2.0	1.0–2.0	821	$1,145	$1.39	15d	20	1.30mi
100 Teal Ln #57 Lafayette, LA	4.0	2.0	1400	$1,320	$0.94	45d	1	1.49mi

Listing history 33 events

1. 2026-06-18
   status $149,900 Pending 68 DOM
2. 2026-06-18
   days on market $149,900 Active 68 DOM
3. 2026-06-17
   days on market $149,900 Active 67 DOM
4. 2026-06-16
   days on market $149,900 Active 66 DOM
5. 2026-06-15
   days on market $149,900 Active 65 DOM
6. 2026-06-14
   days on market $149,900 Active 63 DOM
7. 2026-06-13
   days on market $149,900 Active 62 DOM
8. 2026-06-10
   days on market $149,900 Active 60 DOM
9. 2026-06-09
   days on market $149,900 Active 59 DOM
10. 2026-06-08
    days on market $149,900 Active 58 DOM
11. 2026-06-07
    days on market $149,900 Active 57 DOM
12. 2026-06-05
    days on market $149,900 Active 54 DOM
13. 2026-06-03
    days on market $149,900 Active 53 DOM
14. 2026-06-02
    days on market $149,900 Active 52 DOM
15. 2026-06-01
    days on market $149,900 Active 51 DOM
16. 2026-05-31
    days on market $149,900 Active 50 DOM
17. 2026-05-30
    days on market $149,900 Active 49 DOM
18. 2026-05-07
    status Active 626-char remark

    Show marketing remark (626 chars)

    Welcome to 112 Summit Drive in Lafayette-this cute 3 bedroom, 2 bath home offers a clean, refreshed feel and is move-in ready. Recently deep cleaned, the home features a comfortable layout with plenty of natural light throughout. Situated in a great location, you'll enjoy convenient access to nearby shopping at Target, Aldi and the future Buc-ee's plus more at the Louisiana Ave location . The large lot provides plenty of space to spread out, while the beautiful mature trees offer shade and a relaxing outdoor setting. Affordable and well-maintained, this property is a great opportunity for homeowners or investors alike.

19. 2026-05-03
    status Pending 626-char remark

    Show marketing remark (626 chars)

    Welcome to 112 Summit Drive in Lafayette-this cute 3 bedroom, 2 bath home offers a clean, refreshed feel and is move-in ready. Recently deep cleaned, the home features a comfortable layout with plenty of natural light throughout. Situated in a great location, you'll enjoy convenient access to nearby shopping at Target, Aldi and the future Buc-ee's plus more at the Louisiana Ave location . The large lot provides plenty of space to spread out, while the beautiful mature trees offer shade and a relaxing outdoor setting. Affordable and well-maintained, this property is a great opportunity for homeowners or investors alike.

20. 2026-04-22
    status Active 626-char remark

    Show marketing remark (626 chars)

    Welcome to 112 Summit Drive in Lafayette-this cute 3 bedroom, 2 bath home offers a clean, refreshed feel and is move-in ready. Recently deep cleaned, the home features a comfortable layout with plenty of natural light throughout. Situated in a great location, you'll enjoy convenient access to nearby shopping at Target, Aldi and the future Buc-ee's plus more at the Louisiana Ave location . The large lot provides plenty of space to spread out, while the beautiful mature trees offer shade and a relaxing outdoor setting. Affordable and well-maintained, this property is a great opportunity for homeowners or investors alike.

21. 2026-04-11
    status Pending 626-char remark

    Show marketing remark (626 chars)

    Welcome to 112 Summit Drive in Lafayette-this cute 3 bedroom, 2 bath home offers a clean, refreshed feel and is move-in ready. Recently deep cleaned, the home features a comfortable layout with plenty of natural light throughout. Situated in a great location, you'll enjoy convenient access to nearby shopping at Target, Aldi and the future Buc-ee's plus more at the Louisiana Ave location . The large lot provides plenty of space to spread out, while the beautiful mature trees offer shade and a relaxing outdoor setting. Affordable and well-maintained, this property is a great opportunity for homeowners or investors alike.

22. 2026-03-26
    listed $149,900 Active 626-char remark

    Show marketing remark (626 chars)

    Welcome to 112 Summit Drive in Lafayette-this cute 3 bedroom, 2 bath home offers a clean, refreshed feel and is move-in ready. Recently deep cleaned, the home features a comfortable layout with plenty of natural light throughout. Situated in a great location, you'll enjoy convenient access to nearby shopping at Target, Aldi and the future Buc-ee's plus more at the Louisiana Ave location . The large lot provides plenty of space to spread out, while the beautiful mature trees offer shade and a relaxing outdoor setting. Affordable and well-maintained, this property is a great opportunity for homeowners or investors alike.

23. 2026-02-02
    historical $1,100
24. 2026-01-29
    listed $1,100
25. 2023-10-31
    historical $1,000
26. 2023-10-21
    listed $1,000
27. 2012-11-05
    soldstatus $71,000 398-char remark

    Show marketing remark (398 chars)

    Terrific one story ranch style home with 3 bedrooms and 2 bathrooms. Home features electric heat, central air, attached two car carport, covered patio, and wooden fence. 1183 square feet of gross living area above grade-information is from the FHA Appraisal which is deemed reliable but not guaranteed. ''Property may be eligible for the FHA $100 down payment program. Ask your agent for details.''

28. 2012-07-26
    listed $91,800 398-char remark

    Show marketing remark (398 chars)

    Terrific one story ranch style home with 3 bedrooms and 2 bathrooms. Home features electric heat, central air, attached two car carport, covered patio, and wooden fence. 1183 square feet of gross living area above grade-information is from the FHA Appraisal which is deemed reliable but not guaranteed. ''Property may be eligible for the FHA $100 down payment program. Ask your agent for details.''

29. 2009-08-24
    soldstatus $118,000
30. 2009-08-21
    soldstatus $118,000
31. 2009-06-24
    listed $119,000
32. 1997-12-29
    soldstatus $57,900
33. 1997-11-04
    listed $59,900

ⓘ 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: $966 · $80/mo
• Projected year-2 tax: $966 · $80/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 2/10 Low
• 🌡 Heat 8/10 Severe 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,962
• − Mortgage interest: −$8,397
• − Property taxes: −$966
• − Insurance: −$750
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$4,361
• Taxable loss: −$2,744
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $541/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): 20,096
• Household income: $64,049
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 503.0

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 0.57)
• Race & ethnicity: Black 47% White 45% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 15%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 4% Spanish 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: ▼ -40.84%
• Current HPI: 156.889
• Rent YoY: —
• 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

+150.3% since first listed

16 events — show timeline

• 2026-05-07 Relisted — AcadianaMLS
• 2026-05-03 Pending — AcadianaMLS
• 2026-04-22 Relisted — AcadianaMLS
• 2026-04-11 Pending — AcadianaMLS
• 2026-03-26 Listed $149,900 AcadianaMLS
• 2026-02-02 Rental Removed $1,100 TURBOTENANT
• 2026-01-29 Listed for Rent $1,100 TURBOTENANT
• 2023-10-31 Rental Removed $1,000 APPFOLIO
• 2023-10-21 Listed for Rent $1,000 APPFOLIO
• 2012-11-05 Sold (MLS) $71,000 AcadianaMLS
• 2012-07-26 Listed $91,800 AcadianaMLS
• 2009-08-24 Sold (Public Records) $118,000 Public Records
• 2009-08-21 Sold (MLS) $118,000 AcadianaMLS
• 2009-06-24 Listed $119,000 AcadianaMLS
• 1997-12-29 Sold (MLS) $57,900 AcadianaMLS
• 1997-11-04 Listed $59,900 AcadianaMLS

Property tax history

+4.2%/yr

Latest (2025): $966 · -1.1% YoY. Source: county tax records.