200 Lodge Dr Apt 511

Lafayette, LA 70506

$112,000D-

2 bd · 1.5 ba · 1,046 sqft · Built 1983 · Townhouse · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,276/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$122
• HOA: −$325
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-26/mo
• Annual: $-310/yr
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• 1% rule: 1.14%
• Cash to close: $31,360

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $112k.
• At list price, monthly cash flow is $-26 ($-310/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (4.1% below list).
• Meets the 1% rule at list price ($1k rent vs $112k).
• It's been on market 69 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k 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.
• Watch-outs: HOA is 25% of rent.
• Market conditions: Rents rising fast (+4.1%/yr); 404 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Cap rate 6.0% vs local median 4.7% in Lafayette — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?