135 Whitney St

Lafayette, LA 70501

$180,000D+

12 bd · 4.8 ba · 795 sqft · Built 1975 · SingleFamily · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,456/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$532
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $-326/mo
• Annual: $-3,912/yr
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• 1% rule: 0.81%
• Cash to close: $50,400

Investor read

• This is a 12-bed/4.8-bath single-family listed at $180k.
• At list price, monthly cash flow is $-326 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (32.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (19.1% below list).
• It's been on market 81 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (32.0% below list) — sets the bar for cash-flow.
• 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.
• 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: J. Wallace James Elementary School (math 46% / reading 49%, grade D, #147 of 646 statewide, top 23%, 939 students, 64% FRL); Lafayette Middle School (math 12% / reading 29%, grade F, #161 of 218 statewide, top 76%, 369 students, 83% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents rising fast (+7.3%/yr); 247 active listings in the ZIP; lower-income renter base — watch delinquency; 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 11y 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.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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.
• Cap rate 7.0% 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.
• At $1,456/mo this rent would consume 52% of the median local household income ($33k/yr) (locally 2089% 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 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 81 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?