515 Division St #5 · Lake Charles, LA 70601

$199,500

3 bd · 2.5 ba · 1,500 sqft · SingleFamily · 318 Days on market

Built 2018 1,307 sqft lot $133/sqft · 15% below area Est $236k · 15% under $100/mo HOA · 5% of rent

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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 +14.4/30.0
• ARV discount +14.4/15.0
• 1% rule +4.4/10.0
• DSCR +4.4/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Downtown Lake Charles' Historic Charpentier District. Designed with Historic style in mind yet infused with contemporary interiors for sleek urban living. Well-proportioned and amenities to match. This 3 bedroom and 2 1/2 bath home features open living concept downstairs with all bedrooms conveniently located upstairs including master en suite with large bath and closet. Home features a private courtyard for outdoor entertaining. Double car parking and HOA includes lawn service making this residence perfect for that "on the go" person. Nest thermostats allow smart phone climate controls. Close to restaurants, shopping and all the downtown events throughout the year. Seller is offering $5000 towards buyer's closing costs and/or prepaids.

Key facts

• Nest thermostats
• Open living concept
• Double car parking

Tags

• HISTORIC CHARPENTIER DISTRICT
• CONTEMPORARY INTERIORS
• OPEN LIVING CONCEPT
• PRIVATE COURTYARD
• DOUBLE CAR PARKING
• NEST THERMOSTATS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $38 ($461/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 $188k (5.8% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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 (+6.2%/yr); 363 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• At $1,879/mo this rent would consume 45% of the median local household income ($50k/yr) (locally 1304% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 318 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $175,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 8.8

CMA / ARV

• ARV (median comp): $235,827
• List price: $199,500
• Delta: -15.40%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
720 Pine St	0.21mi	2/2.0 (-1)	1,485 (-1%)	9mo	$125,000	$84	74
704 Division St	0.19mi	2/2.0 (-1)	1,500 (0%)	18mo	$155,000	$103	69
517 Pryce St	0.22mi	3/2.0	1,580 (+5%)	13mo	$45,000	$28	68
406 Hodges St	0.18mi	3/2.0	1,582 (+6%)	18mo	$85,000	$54	65
832 Clement St	0.35mi	3/2.5	1,720 (+15%)	2mo	$225,000	$131	58
817 5th St	0.74mi	3/2.0	1,550 (+3%)	1mo	$180,000	$116	57
713 Drew St	0.23mi	2/2.0 (-1)	1,300 (-13%)	12mo	$84,888	$65	50
701 Iris St	0.48mi	3/2.0	1,350 (-10%)	15mo	$160,000	$119	46
917 Broad St	0.42mi	3/2.0	1,721 (+15%)	20mo	$245,000	$142	37
619 VE Washington Ave	0.71mi	3/2.0	1,703 (+14%)	7mo	$130,000	$76	37
1034 Iris St	0.67mi	2/2.0 (-1)	1,350 (-10%)	13mo	$154,000	$114	34
1026 Clarence St	0.73mi	3/2.0	1,670 (+11%)	21mo	$197,700	$118	28

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-23,607
• Equity at exit: $29,746

10-year hold

• IRR: 2.2%
• Equity multiple: 1.18×
• Total profit: $10,051
• Equity at exit: $17,249

Cash invested: $55,860 (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 70601

• Rents YoY: 6.2%
• Active inventory: 363
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$216 /mo · $2,598/yr
• Insurance: −$83
• HOA: −$100
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $38

Break-even live

Break-even rent $1,830

Max offer price $199,500

Occupancy floor 93%

Sensitivity live

Price	-10% $151	-5% $95	+0% $38	+5% $-18	+10% $-74
Rent	-10% $-110	-5% $-36	+0% $38	+5% $113	+10% $187
Rate	-1.0pp $139	-0.5pp $89	base $38	+0.5pp $-13	+1.0pp $-66

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Granger St Lake Charles, LA	3.0	2.5	1450	$1,900	$1.31	44d	1	0.97mi
125 East St Lake Charles, LA	3.0	2.0	1138	$3,850	$3.38	44d	1	1.03mi
1731 Elms St Lake Charles, LA	3.0	2.0	1575	$2,000	$1.27	44d	1	1.08mi
1505 7th St Lake Charles, LA	2.0	1.0	1054	$900	$0.85	44d	1	1.17mi
1812 Ethel St Lake Charles, LA	3.0	2.0	1589	$3,850	$2.42	44d	1	1.22mi
1735 Saint John St Lake Charles, LA	4.0	2.0	1500	$1,700	$1.13	44d	1	1.35mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 25 events

1. 2026-06-19
   days on market $199,500 Active 318 DOM
2. 2026-06-18
   days on market $199,500 Active 317 DOM
3. 2026-06-17
   days on market $199,500 Active 316 DOM
4. 2026-06-16
   days on market $199,500 Active 315 DOM
5. 2026-06-15
   days on market $199,500 Active 314 DOM
6. 2026-06-14
   days on market $199,500 Active 312 DOM
7. 2026-06-13
   days on market $199,500 Active 311 DOM
8. 2026-06-10
   days on market $199,500 Active 309 DOM
9. 2026-06-09
   days on market $199,500 Active 308 DOM
10. 2026-06-08
    days on market $199,500 Active 307 DOM
11. 2026-06-07
    days on market $199,500 Active 306 DOM
12. 2026-06-05
    days on market $199,500 Active 303 DOM
13. 2026-06-02
    days on market $199,500 Active 301 DOM
14. 2026-06-01
    days on market $199,500 Active 300 DOM
15. 2026-05-31
    days on market $199,500 Active 299 DOM
16. 2026-05-30
    days on market $199,500 Active 298 DOM
17. 2026-02-03
    price $199,500 767-char remark

    Show marketing remark (767 chars)

    Located in Downtown Lake Charles' Historic Charpentier District. Designed with Historic style in mind yet infused with contemporary interiors for sleek urban living. Well-proportioned and amenities to match. This 3 bedroom and 2 1/2 bath home features open living concept downstairs with all bedrooms conveniently located upstairs including master en suite with large bath and closet. Home features a private courtyard for outdoor entertaining. Double car parking and HOA includes lawn service making this residence perfect for that "on the go" person. Nest thermostats allow smart phone climate controls. Close to restaurants, shopping and all the downtown events throughout the year. Seller is offering $5000 towards buyer's closing costs and/or prepaids.

18. 2025-12-04
    price $202,500 767-char remark

    Show marketing remark (767 chars)

    Located in Downtown Lake Charles' Historic Charpentier District. Designed with Historic style in mind yet infused with contemporary interiors for sleek urban living. Well-proportioned and amenities to match. This 3 bedroom and 2 1/2 bath home features open living concept downstairs with all bedrooms conveniently located upstairs including master en suite with large bath and closet. Home features a private courtyard for outdoor entertaining. Double car parking and HOA includes lawn service making this residence perfect for that "on the go" person. Nest thermostats allow smart phone climate controls. Close to restaurants, shopping and all the downtown events throughout the year. Seller is offering $5000 towards buyer's closing costs and/or prepaids.

19. 2024-10-17
    listed $207,500 Active 767-char remark

    Show marketing remark (767 chars)

    Located in Downtown Lake Charles' Historic Charpentier District. Designed with Historic style in mind yet infused with contemporary interiors for sleek urban living. Well-proportioned and amenities to match. This 3 bedroom and 2 1/2 bath home features open living concept downstairs with all bedrooms conveniently located upstairs including master en suite with large bath and closet. Home features a private courtyard for outdoor entertaining. Double car parking and HOA includes lawn service making this residence perfect for that "on the go" person. Nest thermostats allow smart phone climate controls. Close to restaurants, shopping and all the downtown events throughout the year. Seller is offering $5000 towards buyer's closing costs and/or prepaids.

20. 2022-06-21
    soldstatus $219,500
21. 2022-05-05
    soldstatus $219,500
22. 2021-08-13
    soldstatus $299,500
23. 2018-06-06
    soldstatus $224,500
24. 2017-08-18
    soldstatus $304,000
25. 1998-11-30
    soldstatus $125,000

ⓘ 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: $2,598 · $216/mo
• Projected year-2 tax: $2,598 · $216/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,546
• − Mortgage interest: −$11,175
• − Property taxes: −$2,598
• − Insurance: −$998
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − HOA: −$1,200
• − Depreciation: −$5,804
• Taxable loss: −$2,836
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $1,142/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): 30,872
• Household income: $49,992
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1304.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 59% White 31% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 7% Iranian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -109.32%
• Current HPI: 55.6127
• Rent YoY: ▲ 6.18%
• 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

+59.6% since first listed

9 events — show timeline

• 2026-02-03 Price Changed $199,500 SWLAR
• 2025-12-04 Price Changed $202,500 SWLAR
• 2024-10-17 Listed $207,500 SWLAR
• 2022-06-21 Sold (Public Records) $219,500 Public Records
• 2022-05-05 Sold (Public Records) $219,500 Public Records
• 2021-08-13 Sold (Public Records) $299,500 Public Records
• 2018-06-06 Sold (Public Records) $224,500 Public Records
• 2017-08-18 Sold (Public Records) $304,000 Public Records
• 1998-11-30 Sold (Public Records) $125,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,598 · -48.7% YoY. Source: county tax records.