230 Caledonia Dr · Lafayette, LA 70508

$155,000

3 bd · 2.0 ba · 1,337 sqft · SingleFamily public records · 17 Days on market

Built 2001 $116/sqft · 21% below area Est $204k · 24% 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.9/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Precious cottage in a convenient location. Newly renovated with new laminate wood flooring, new cabinets, new stainless steel appliances. Newly remodeled master shower and master bedroom with large walk-in closet. Cathedral ceilings in kitchen and living room give a spacious feel with lots of windows to let in natural light. Covered patio for leisurely entertaining and open patio for soaking up the sun! Metal shed to store all you toys and a new roof to boot! Come view this lovely home before it's gone! Seller offering $2000 towards buyers closing costs.

Key facts

• 2 parking spots
• Listed 16 days

Property features AI

Exterior

• Parking: Carport with 2 covered spaces; Total parking for 2 vehicles
• Utilities: Public sewer; Electric service: SLEMCO
• Home design: Single family residence; Fixer condition; Paved road frontage
• Construction: Brick veneer exterior; Asbestos shingle roof
• Exterior features: Wood fencing; Covered and open porch/patio

Interior

• Kitchen: Refrigerator included
• Flooring: Tile; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Tile and other flooring; Washer and dryer included; Refrigerator included; Central heating and central air
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Rents rising (+1.2%/yr); 464 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $5k 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 17 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (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.

Recommended offer $152,675 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.09% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (median comp): $204,492
• List price: $155,000
• Delta: -24.20%
• 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
106 Newtown Dr	0.16mi	3/2.0	1,319 (-1%)	1mo	$299,999	$227	90
203 Caledonia Dr	0.14mi	3/1.5	1,288 (-4%)	6mo	$132,000	$102	80
134 Twin Meadow Ln	0.43mi	3/2.0	1,369 (+2%)	3mo	$240,000	$175	73
200 Breton Dr	0.30mi	3/2.0	1,428 (+7%)	2mo	$198,000	$139	73
209 Twin Meadow Ln	0.43mi	3/2.0	1,382 (+3%)	4mo	$242,000	$175	71
302 Porch View Dr	0.16mi	3/2.0	1,505 (+13%)	7mo	$318,500	$212	66
207 Chimney Rock Blvd	0.53mi	3/2.0	1,260 (-6%)	3mo	$178,000	$141	63
115 Grays Landing Ln	0.40mi	3/2.5	1,451 (+8%)	3mo	$259,000	$178	63
335 Chimney Rock Blvd	0.47mi	3/2.0	1,219 (-9%)	3mo	$170,000	$139	61
104 Bramber Dr	0.27mi	3/2.0	1,504 (+12%)	7mo	$195,000	$130	60
243 Chimney Rock Blvd	0.49mi	3/2.0	1,214 (-9%)	4mo	$175,000	$144	58
318 Chimney Rock Blvd	0.44mi	2/2.0 (-1)	1,212 (-9%)	3mo	$180,000	$149	56

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-14,693
• Equity at exit: $23,111

10-year hold

• IRR: -2.6%
• Equity multiple: 0.84×
• Total profit: $-7,110
• Equity at exit: $13,402

Cash invested: $43,400 (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 70508

• Home prices YoY: -34.7%
• Rents YoY: 1.2%
• Active inventory: 464
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$813
• Tax from tax record: −$123 /mo · $1,474/yr
• Insurance: −$65
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $209

Break-even live

Break-even rent $1,425

Max offer price $155,000

Occupancy floor 83%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1312 E Broussard Rd Lafayette, LA	2.0	2.0	877	$1,450	$1.65	14d	6	0.93mi
127 Santa Marta Dr Youngsville, LA	3.0	2.0	1305	$1,800	$1.38	21d	1	1.21mi
110 Frem Boustany Dr Lafayette, LA	1.0–3.0	1.0–2.0	1026	$2,030	$1.98	21d	15	1.25mi
100 S Meyers Dr Lafayette, LA	1.0–2.0	1.0–2.0	843	$1,155	$1.37	14d	21	1.38mi
204 Crenshaw Dr Lafayette, LA	3.0	2.0	1337	$2,150	$1.61	21d	1	1.39mi
502 Chemin Metairie Rd Unit B Youngsville, LA	2.0	1.5	1100	$995	$0.90	44d	1	1.44mi
103 Bijou Dr Lafayette, LA	3.0	2.0	1522	$2,100	$1.38	44d	1	1.47mi
431 Chemin Metairie Rd Youngsville, LA	3.0	2.5	1542	$1,270	$0.82	21d	1	1.47mi
408 Rue Canard Youngsville, LA	3.0	2.0	1600	$1,800	$1.12	44d	1	1.49mi

Listing history 15 events

1. 2026-05-12
   listed $155,000 Active 402-char remark
2. 2026-05-12
   historical $155,000 402-char remark
3. 2023-07-21
   soldstatus $187,000
4. 2023-07-18
   soldstatus $187,000 Sold
5. 2023-05-28
   status Pending
6. 2023-03-23
   listed $196,000 Active
7. 2018-09-07
   soldstatus $156,000
8. 2018-09-05
   soldstatus $156,000

   Show marketing remark (565 chars)

   Precious cottage in a convenient location. Newly renovated with new laminate wood flooring, new cabinets, new stainless steel appliances. Newly remodeled master shower and master bedroom with large walk-in closet. Cathedral ceilings in kitchen and living room give a spacious feel with lots of windows to let in natural light. Covered patio for leisurely entertaining and open patio for soaking up the sun! Metal shed to store all you toys and a new roof to boot! Come view this lovely home before it's gone! Seller offering $2000 towards buyers closing costs.

9. 2018-07-06
   listed $158,000

   Show marketing remark (565 chars)

   Precious cottage in a convenient location. Newly renovated with new laminate wood flooring, new cabinets, new stainless steel appliances. Newly remodeled master shower and master bedroom with large walk-in closet. Cathedral ceilings in kitchen and living room give a spacious feel with lots of windows to let in natural light. Covered patio for leisurely entertaining and open patio for soaking up the sun! Metal shed to store all you toys and a new roof to boot! Come view this lovely home before it's gone! Seller offering $2000 towards buyers closing costs.

10. 2008-04-08
    soldstatus $149,000
11. 2008-02-28
    listed $149,900
12. 2006-01-09
    soldstatus $135,000
13. 2005-11-06
    listed $136,400
14. 2001-06-25
    soldstatus $99,900
15. 2001-02-01
    listed $99,900

ⓘ 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: $1,474 · $123/mo
• Projected year-2 tax: $1,474 · $123/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 4/10 Moderate FEMA zone A · 22% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,272
• − Mortgage interest: −$8,682
• − Property taxes: −$1,474
• − Insurance: −$2,278
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − Depreciation: −$4,509
• Taxable income: $86
• Est. tax owed @ 24.0%: −$21
• After-tax cash flow: $2,489/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

• County: Lafayette Parish · 207,544 people
• City population: 158,114
• Metro: Lafayette, LA
• Population (ZIP): 40,592
• Household income: $86,005
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 1860.0

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 White (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 7% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 20% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -76.28%
• Current HPI: 143.6305
• Rent YoY: ▲ 1.23%
• 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

+55.2% since first listed

15 events — show timeline

• 2026-05-12 Listed $155,000 AcadianaMLS
• 2026-05-12 Coming Soon — AcadianaMLS
• 2023-07-21 Sold (Public Records) $187,000 Public Records
• 2023-07-18 Sold (MLS) $187,000 AcadianaMLS
• 2023-05-28 Pending — AcadianaMLS
• 2023-03-23 Listed $196,000 AcadianaMLS
• 2018-09-07 Sold (Public Records) $156,000 Public Records
• 2018-09-05 Sold (MLS) $156,000 AcadianaMLS
• 2018-07-06 Listed $158,000 AcadianaMLS
• 2008-04-08 Sold (MLS) $149,000 AcadianaMLS
• 2008-02-28 Listed $149,900 AcadianaMLS
• 2006-01-09 Sold (MLS) $135,000 AcadianaMLS
• 2005-11-06 Listed $136,400 AcadianaMLS
• 2001-06-25 Sold (MLS) $99,900 AcadianaMLS
• 2001-02-01 Listed $99,900 AcadianaMLS

Property tax history

+8.6%/yr

Latest (2025): $1,474 · -1.3% YoY. Source: county tax records.