120 Kohen Luke Dr

Scott, LA 70506

$235,000C

4 bd · 2.0 ba · 1,873 sqft · Built 2014 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,167/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$250
• HOA: −$25
• Vac / Maint / Mgmt: −$455
• Net cashflow: $205/mo
• Annual: $2,458/yr
• Cap rate: 7.34%
• Cash-on-cash: 3.74%
• DSCR: 1.17
• 1% rule: 0.92%
• Cash to close: $65,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $205 ($2k/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 $217k (7.8% below list).
• It's been on market 23 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $217k (7.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#116 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute 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: Westside Elementary School (math 32% / reading 34%, grade F, #297 of 646 statewide, top 46%, 635 students, 72% FRL); Scott Middle School (math 20% / reading 28%, grade F, #143 of 218 statewide, top 65%, 559 students, 65% FRL); Acadiana High School (math 31% / reading 29%, grade F, #125 of 265 statewide, top 47%, 1,813 students, 56% FRL).
• Zoned-school proficiency averages 29% at this address vs 42% district-wide (-13 pts) — the specific schools serving this property underperform the Lafayette Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.1%/yr); 414 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 3 sale attempts since 13y 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 $185k; 27% 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.
• Cap rate 7.3% vs local median 4.7% in Scott — 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.
• At $2,167/mo this rent would consume 45% of the median local household income ($57k/yr) (locally 2095% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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.