115 Patricia Ann Pl · Lafayette, LA 70508

$200,000

4 bd · 1.5 ba · 2,064 sqft · SingleFamily public records · 201 Days on market

Built 1970 9,600 sqft lot $97/sqft · 9% below area Est $206k · at est.

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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 +24.8/30.0
• ARV discount +8.9/15.0
• DSCR +8.0/10.0
• 1% rule +5.8/10.0
• 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

Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

Key facts

• Bright kitchen
• Granite countertops
• White cabinetry

Tags

• OPEN-CONCEPT LAYOUT
• LARGE LIGHT-FILLED LIVING ROOM
• BRIGHT KITCHEN
• WHITE CABINETRY
• GRANITE COUNTERTOPS
• TILE BACKSPLASH

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 30% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 201 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $200k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 201 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.08% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (median comp): $206,497
• List price: $200,000
• Delta: -3.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Mosser Dr	0.19mi	3/2.0 (-1)	2,085 (+1%)	3mo	$179,000	$86	80
110 Fairwood Dr	0.73mi	4/3.0	2,061 (-0%)	1mo	$305,500	$148	59
112 Heathwood Dr	0.68mi	4/3.0	2,064 (0%)	10mo	$295,000	$143	53
111 Portside Dr	0.66mi	3/2.5 (-1)	2,134 (+3%)	3mo	$415,000	$194	52
108 Heathwood Dr	0.70mi	4/3.0	2,135 (+3%)	10mo	$299,000	$140	48
203 Rue De Frejus	0.64mi	3/2.0 (-1)	2,257 (+9%)	0mo	$517,000	$229	47
105 Wedge Dr	0.58mi	3/2.0 (-1)	2,250 (+9%)	4mo	$365,000	$162	47
211 Rue De Chambery	0.57mi	4/3.0	2,300 (+11%)	4mo	$500,000	$217	45
407 Channel Dr	0.65mi	4/3.0	2,309 (+12%)	4mo	$468,250	$203	41
307 Aristotle Dr	0.51mi	4/2.5	1,761 (-15%)	10mo	$220,000	$125	39
208 Overbrook Dr	0.75mi	3/2.0 (-1)	1,773 (-14%)	0mo	$290,000	$164	34
100 Lynn Dr	0.60mi	3/2.0 (-1)	1,762 (-15%)	9mo	$230,000	$131	34

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-9,348
• Equity at exit: $29,821

10-year hold

• IRR: 3.0%
• Equity multiple: 1.20×
• Total profit: $11,358
• Equity at exit: $17,292

Cash invested: $56,000 (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: 7.7×

Monthly cashflow live

• Estimated rent: $2,165 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $422

Break-even live

Break-even rent $1,631

Max offer price $200,000

Occupancy floor 76%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Clearwater Dr Broussard, LA	3.0	2.5	1838	$2,200	$1.20	21d	1	0.41mi
620 W Main St Broussard, LA	3.0	2.0	1587	$1,600	$1.01	43d	1	0.58mi
126 Heathwood Dr Broussard, LA	4.0	3.0	1989	$2,500	$1.26	43d	1	0.63mi
200 Tennyson Dr Broussard, LA	3.0	2.5	1843	$2,300	$1.25	13d	1	0.87mi
200 Tennyson Dr Broussard, LA	3.0	2.0	1843	$2,495	$1.35	43d	1	0.87mi
404 Sparrowhawk St Broussard, LA	3.0	2.0	1825	$2,200	$1.21	13d	1	0.90mi

Listing history 29 events

1. 2026-06-18
   days on market $200,000 Active 201 DOM
2. 2026-06-17
   pricedays on market $200,000 Active 200 DOM
3. 2026-06-16
   days on market $215,000 Active 199 DOM
4. 2026-06-15
   days on market $215,000 Active 198 DOM
5. 2026-06-14
   days on market $215,000 Active 196 DOM
6. 2026-06-13
   days on market $215,000 Active 195 DOM
7. 2026-06-10
   days on market $215,000 Active 193 DOM
8. 2026-06-09
   days on market $215,000 Active 192 DOM
9. 2026-06-08
   days on market $215,000 Active 191 DOM
10. 2026-06-07
    pricedays on market $215,000 Active 190 DOM
11. 2026-06-05
    days on market $220,000 Active 187 DOM
12. 2026-06-03
    days on market $220,000 Active 186 DOM
13. 2026-06-02
    days on market $220,000 Active 185 DOM
14. 2026-06-01
    days on market $220,000 Active 184 DOM
15. 2026-05-31
    days on market $220,000 Active 183 DOM
16. 2026-05-30
    days on market $220,000 Active 182 DOM
17. 2026-04-17
    price $220,000 1188-char remark

    Show marketing remark (1188 chars)

    Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

18. 2026-03-19
    price $225,000 1188-char remark

    Show marketing remark (1188 chars)

    Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

19. 2026-03-04
    price $230,000 1188-char remark

    Show marketing remark (1188 chars)

    Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

20. 2026-01-27
    price $234,000 1188-char remark

    Show marketing remark (1188 chars)

    Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

21. 2025-12-20
    price $239,000 1188-char remark

    Show marketing remark (1188 chars)

    Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

22. 2025-11-28
    listed $240,000 Active 1188-char remark

    Show marketing remark (1188 chars)

    Welcome to this warm & inviting home featuring an open-concept layout that is perfect for both everyday living and entertaining. Step inside to a large, light-filled living room with ample seating space, & a seamless flow into the dining and kitchen areas. The bright kitchen offers lots of storage with white cabinetry, granite countertops, a stylish tile backsplash, & stainless steel appliances. A convenient breakfast bar provides additional seating and the perfect spot for morning coffee or casual meals. Just off the kitchen, the dining area overlooks the large, fenced backyard through sliding glass doors, bringing in plenty of natural light. The laundry room is conveniently located off of this open space with plenty of countertop space & cabinets perfect for folding clothes & saving items you don't need everyday. Down the hall you will find 4 bedrooms and a large guest bathroom. The master bedroom offers 2 closets & 1 walk in closet giving you plenty of space for all of your belongings & a private half bath. No carpet in the house! Flood Zone X. No HOA! This spacious backyard has plenty of room for a pool & nice large covered patio.

23. 2005-02-28
    soldstatus $119,500 327-char remark

    Show marketing remark (327 chars)

    Great entertaining, open ''flow'' plan just waiting for your next get together. Study could be nursery or bed room #4. Extra storage in large utility room. Wired workshop/storage building in backyard. Covered patio ideal for many uses. City sewage being installed - all streets & driveway areas will be repaired/over-layed.

24. 2005-01-24
    listed $121,000 327-char remark

    Show marketing remark (327 chars)

    Great entertaining, open ''flow'' plan just waiting for your next get together. Study could be nursery or bed room #4. Extra storage in large utility room. Wired workshop/storage building in backyard. Covered patio ideal for many uses. City sewage being installed - all streets & driveway areas will be repaired/over-layed.

25. 2004-09-06
    listed $124,900
26. 2003-08-28
    soldstatus $120,000
27. 2003-05-29
    listed $124,950
28. 1999-06-04
    soldstatus $96,000
29. 1998-12-29
    listed $99,000

ⓘ 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: $1,878 · $156/mo
• Projected year-2 tax: $1,878 · $156/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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,983
• − Mortgage interest: −$11,203
• − Property taxes: −$1,878
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − Depreciation: −$5,818
• Taxable income: $1,927
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $4,601/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

• Census place: Lafayette, LA
• 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

+122.2% since first listed

13 events — show timeline

• 2026-04-17 Price Changed $220,000 AcadianaMLS
• 2026-03-19 Price Changed $225,000 AcadianaMLS
• 2026-03-04 Price Changed $230,000 AcadianaMLS
• 2026-01-27 Price Changed $234,000 AcadianaMLS
• 2025-12-20 Price Changed $239,000 AcadianaMLS
• 2025-11-28 Listed $240,000 AcadianaMLS
• 2005-02-28 Sold (MLS) $119,500 AcadianaMLS
• 2005-01-24 Listed $121,000 AcadianaMLS
• 2004-09-06 Listed $124,900 AcadianaMLS
• 2003-08-28 Sold (MLS) $120,000 AcadianaMLS
• 2003-05-29 Listed $124,950 AcadianaMLS
• 1999-06-04 Sold (MLS) $96,000 AcadianaMLS
• 1998-12-29 Listed $99,000 AcadianaMLS

Property tax history

+7.6%/yr

Latest (2025): $1,878 · -1.1% YoY. Source: county tax records.