220 Doucet Rd Unit 201a

Lafayette, LA 70503

$114,900F

2 bd · 2.0 ba · 1,050 sqft · Built 1960 · Townhouse · Active · 288 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,180/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$157
• HOA: −$303
• Vac / Maint / Mgmt: −$248
• Net cashflow: $-130/mo
• Annual: $-1,558/yr
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• 1% rule: 1.03%
• Cash to close: $32,172

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $115k.
• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (20.0% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 288 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (20.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $794 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.
• Zoned schools: J. Wallace James Elementary School (math 46% / reading 49%, grade D, #147 of 646 statewide, top 23%, 939 students, 64% FRL); L.J. Alleman Middle School (math 48% / reading 56%, grade C+, #23 of 218 statewide, top 10%, 952 students, 54% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL) — zoned schools at 57% FRL track the district average.
• Watch-outs: HOA is 26% of rent.
• Market conditions: Rents flat; 237 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• This rent is only 15% of the median local income ($95k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 288 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?