381 Washington St · Lake Charles, LA 70605

$182,500

3 bd · 1.5 ba · 1,622 sqft · SingleFamily · 34 Days on market

Built 1960 10,019 sqft lot $113/sqft · 11% below area Est $205k · 11% under

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Why this score? — see what drove the C- 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 +15.8/30.0
• ARV discount +12.4/15.0
• Rent growth +5.0/5.0
• DSCR +4.9/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the established University Subdivision near McNeese University, this well-maintained 3-bedroom, 1.5-bath home sits on a spacious corner lot shaded by mature trees and offers over 1,622 square feet of living space with a comfortable open floorplan. The layout provides a natural flow between the living, dining, and kitchen areas, creating an inviting space for both everyday living and entertaining. The kitchen features custom wood cabinetry, ample counter space, and a convenient breakfast bar that opens to a large dining area filled with natural light. The 2 living areas are generously sized and offer flexibility for multiple furniture arrangements. All three bedrooms are well prop

Key facts

• Ample parking
• Covered front entry
• Corner lot

Tags

• CORNER LOT
• FULLY FENCED BACKYARD
• CUSTOM WOOD CABINETRY
• DEDICATED INDOOR LAUNDRY ROOM
• AMPLE PARKING
• COVERED FRONT ENTRY

Property features AI

Exterior

• Parking: Driveway with open parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; One-story house; No common walls
• Construction: Brick veneer and wood siding exterior; Shingle roof; Slab foundation; Built as a house
• Exterior features: Rear covered porch; Front porch; Wood fencing enclosing yard; Back and front yard; City lot, rectangular shape

Interior

• Kitchen: Dishwasher; Oven; Range
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans for cooling
• Interior features: Ceiling fans; Open floor plan; Pantry
• Laundry & utility: Indoor laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (15.9% below list).
• Recommended offer: $153k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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 (+15.1%/yr); 456 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,298 units permitted in Calcasieu Parish in 2024 (526 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 $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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• 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 $153,443 (15.9% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 9.9

CMA / ARV

• ARV (median comp): $204,820
• List price: $182,500
• Delta: -10.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Crestwood Ln	0.27mi	3/2.0	1,600 (-1%)	4mo	$187,500	$117	80
619 Central Pkwy	0.39mi	3/2.0	1,602 (-1%)	1mo	$150,000	$94	77
732 Iberville St	0.62mi	3/2.0	1,598 (-2%)	3mo	$213,000	$133	64
524 Contour St	0.39mi	3/2.0	1,746 (+8%)	6mo	$185,000	$106	62
713 Bienville St	0.58mi	2/1.0 (-1)	1,679 (+4%)	2mo	$129,000	$77	58
425 Avalon St	0.47mi	3/2.0	1,465 (-10%)	2mo	$239,000	$163	58
717 University Dr Dr	0.37mi	3/2.0	1,423 (-12%)	2mo	$185,000	$130	58
607 W Mcneese St St W	0.68mi	3/2.0	1,536 (-5%)	3mo	$160,000	$104	54
401 Montclair St	0.47mi	4/2.0 (+1)	1,760 (+8%)	4mo	$263,000	$149	54
203 Heather St	0.52mi	2/2.0 (-1)	1,490 (-8%)	4mo	$210,000	$141	52
450 Greenway St	0.47mi	4/3.0 (+1)	1,827 (+13%)	4mo	$215,000	$118	43
624 Becky Ln	0.69mi	3/2.0	1,819 (+12%)	6mo	$290,000	$159	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.68×
• Total profit: $-16,121
• Equity at exit: $27,211

10-year hold

• IRR: 6.4%
• Equity multiple: 1.58×
• Total profit: $29,586
• Equity at exit: $15,779

Cash invested: $51,100 (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 70605

• Rents YoY: 15.1%
• Active inventory: 456
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$957
• Tax from tax record: −$94 /mo · $1,132/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $85

Break-even live

Break-even rent $1,427

Max offer price $182,500

Occupancy floor 89%

Sensitivity live

Price	-10% $188	-5% $136	+0% $85	+5% $33	+10% $-18
Rent	-10% $-36	-5% $24	+0% $85	+5% $145	+10% $206
Rate	-1.0pp $177	-0.5pp $131	base $85	+0.5pp $38	+1.0pp $-11

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 Heather St Lake Charles, LA	3.0	2.0	1316	$1,650	$1.25	14d	1	0.46mi
716 Dianne Ln Lake Charles, LA	3.0	2.0	2200	$5,000	$2.27	44d	1	0.81mi
801 Sundale Dr Lake Charles, LA	3.0	1.0	1144	$1,195	$1.04	44d	1	0.82mi
4128 Center St Lake Charles, LA	4.0	2.0	2227	$1,500	$0.67	44d	1	1.04mi
417 E Claude St Lake Charles, LA	4.0	1.0	1610	$1,400	$0.87	44d	1	1.35mi
4326 Christina St Lake Charles, LA	3.0	2.0	1600	$1,770	$1.11	21d	1	1.42mi
1509 Sage Dr Lake Charles, LA	4.0	1.0	1157	$1,195	$1.03	21d	1	1.49mi

Listing history 6 events

1. 2026-06-19
   days on market $182,500 Active 34 DOM
2. 2026-06-18
   days on market $182,500 Active 33 DOM
3. 2026-06-17
   days on market $182,500 Active 32 DOM
4. 2026-06-16
   days on market $182,500 Active 31 DOM
5. 2026-06-15
   statusdays on market $182,500 Active 30 DOM
6. 2026-04-23
   listed $182,500 Active 1679-char remark

ⓘ 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: $1,132 · $94/mo
• Projected year-2 tax: $1,132 · $94/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $18,413
• − Mortgage interest: −$10,223
• − Property taxes: −$1,132
• − Insurance: −$912
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$5,309
• Taxable loss: −$2,109
• Est. tax savings @ 24.0%: +$506
• After-tax cash flow: $1,524/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): 40,482
• Household income: $86,015
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1328.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Black 10% Hispanic / Latino 6% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 12% Italian 3% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -102.68%
• Current HPI: 105.1903
• Rent YoY: ▲ 15.10%
• 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

3 events — show timeline

• 2026-06-14 Relisted — SWLAR
• 2026-05-22 Pending — SWLAR
• 2026-04-23 Listed $182,500 SWLAR

Property tax history

+0.1%/yr

Latest (2025): $1,132 · +2.4% YoY. Source: county tax records.