309 E Cedar St · Lafayette, LA 70501

$65,000

3 bd · 1.5 ba · 1,086 sqft · SingleFamily public records · 239 Days on market

Built 1965 7,000 sqft lot $60/sqft · 18% below area Est $80k · 18% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.3/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income Producing Investment opportunity! This 3-bedroom, 1-bath cottage is tenant occupied. Featuring a spacious and shady backyard at an affordable price point, located right off I-49 & I-10. Make an offer today, please do not disturb tenant.

Key facts

• 7,000 sq ft lot
• Parking
• Listed 239 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $65k.

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 ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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 fast (+7.3%/yr); 246 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent runs 38% of the median local income ($33k/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 $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask is 8076% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 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 1965 — 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: 1.62% ✓
• Cap rate: 14.09%
• Cash-on-cash: 27.85%
• DSCR: 2.24
• GRM: 5.1

CMA / ARV

• ARV (median comp): $79,686
• List price: $65,000
• Delta: -18.43%
• 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
126 Sherwood Dr	0.14mi	3/1.0	1,200 (+10%)	0mo	$65,000	$54	74
110 N Pine St	0.21mi	3/1.0	979 (-10%)	8mo	$60,500	$62	65
253 Sherwood Dr	0.31mi	2/1.0 (-1)	1,173 (+8%)	4mo	$102,500	$87	62
148 E Gilman Rd	0.58mi	3/1.5	1,050 (-3%)	7mo	$135,000	$129	61
301 Venus Dr	0.69mi	3/2.0	1,170 (+8%)	0mo	$150,000	$128	53
327 Sonny St	0.50mi	3/1.0	975 (-10%)	7mo	$37,000	$38	51
301 Doc Duhon St	0.60mi	3/1.0	1,000 (-8%)	7mo	$90,000	$90	51
129 Lena St	0.64mi	2/1.0 (-1)	1,000 (-8%)	2mo	$35,000	$35	48
103 Calais St	0.71mi	3/1.5	1,182 (+9%)	7mo	$139,500	$118	46
118 Webb St	0.52mi	2/1.0 (-1)	1,000 (-8%)	11mo	$39,500	$40	46
107 Zilia St	0.73mi	3/1.5	1,162 (+7%)	12mo	$135,000	$116	44
219 Bellot St	0.74mi	3/1.0	1,007 (-7%)	10mo	$70,000	$70	43

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 · 7.35% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 2.16×
• Total profit: $21,170
• Equity at exit: $9,692

10-year hold

• IRR: 36.6%
• Equity multiple: 5.10×
• Total profit: $74,639
• Equity at exit: $5,620

Cash invested: $18,200 (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 70501

• Rents YoY: 7.3%
• Active inventory: 246
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,053 high
• Mortgage (P&I): −$341
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $422

Break-even live

Break-even rent $519

Max offer price $65,000

Occupancy floor 55%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 Sunset Dr Lafayette, LA	2.0	1.0	1000	$800	$0.80	43d	1	0.45mi
241 N Pine St Lafayette, LA	2.0	1.0	864	$950	$1.10	43d	1	0.45mi
319 Tissington St Lafayette, LA	2.0	1.0	956	$775	$0.81	43d	1	0.52mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	21d	1	0.67mi
215 Peggy St Lafayette, LA	3.0	2.0	1100	$1,100	$1.00	13d	1	0.67mi
423 Sampson St Lafayette, LA	4.0	2.0	1400	$950	$0.68	43d	1	0.76mi
810 Fairmont Ln Lafayette, LA	3.0	1.0	1000	$992	$0.99	43d	1	0.79mi
313 Hobson St Lafayette, LA	3.0	1.0	1000	$1,100	$1.10	21d	1	0.85mi
2820 Louisiana Ave Lafayette, LA	1.0–2.0	1.0–2.0	821	$1,145	$1.39	13d	20	0.94mi
1002 E Simcoe St Lafayette, LA	4.0	2.0	1100	$950	$0.86	43d	1	0.97mi
1030 9th St Lafayette, LA	2.0	1.0	800	$800	$1.00	43d	1	1.01mi
2826 Louisiana Ave #907 Lafayette, LA	2.0	2.5	1100	$950	$0.86	21d	1	1.02mi
2826 Louisiana Ave #1111 Lafayette, LA	2.0	2.0	1140	$1,200	$1.05	44d	1	1.02mi
2830 Louisiana Ave #6 Lafayette, LA	2.0	1.5	1100	$950	$0.86	13d	1	1.02mi
816 Martin Luther King Jr Dr Lafayette, LA	4.0	2.0	1453	$1,450	$1.00	21d	1	1.05mi
815 Martin Luther King Junior Dr Unit 40 Lafayette, LA	2.0	1.0	873	$800	$0.92	43d	1	1.06mi
815 Martin Luther King Junior Dr Apt 29 Lafayette, LA	2.0	1.0	873	$800	$0.92	21d	1	1.06mi
206 N Washington St Lafayette, LA	3.0	1.0	900	$900	$1.00	21d	1	1.08mi
908 Saint Charles St Lafayette, LA	3.0	2.0	1200	$1,250	$1.04	21d	1	1.40mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	43d	1	1.43mi
246 Paul Breaux Ave Lafayette, LA	3.0	1.0	989	$1,100	$1.11	43d	1	1.45mi

Listing history 30 events

1. 2026-06-18
   days on market $65,000 Active 239 DOM
2. 2026-06-17
   days on market $65,000 Active 238 DOM
3. 2026-06-16
   days on market $65,000 Active 237 DOM
4. 2026-06-15
   days on market $65,000 Active 236 DOM
5. 2026-06-14
   days on market $65,000 Active 234 DOM
6. 2026-06-13
   days on market $65,000 Active 233 DOM
7. 2026-06-10
   days on market $65,000 Active 231 DOM
8. 2026-06-09
   days on market $65,000 Active 230 DOM
9. 2026-06-08
   days on market $65,000 Active 229 DOM
10. 2026-06-07
    days on market $65,000 Active 228 DOM
11. 2026-06-05
    pricedays on market $65,000 Active 225 DOM
12. 2026-06-03
    days on market $70,000 Active 224 DOM
13. 2026-06-02
    days on market $70,000 Active 223 DOM
14. 2026-06-01
    days on market $70,000 Active 222 DOM
15. 2026-05-31
    days on market $70,000 Active 221 DOM
16. 2026-05-30
    days on market $70,000 Active 220 DOM
17. 2026-03-15
    historical $795
18. 2026-02-20
    listed $795
19. 2025-11-25
    price $70,000 247-char remark

    Show marketing remark (247 chars)

    Income Producing Investment opportunity! This 3-bedroom, 1-bath cottage is tenant occupied. Featuring a spacious and shady backyard at an affordable price point, located right off I-49 & I-10. Make an offer today, please do not disturb tenant.

20. 2025-10-20
    listed $75,000 Active 247-char remark

    Show marketing remark (247 chars)

    Income Producing Investment opportunity! This 3-bedroom, 1-bath cottage is tenant occupied. Featuring a spacious and shady backyard at an affordable price point, located right off I-49 & I-10. Make an offer today, please do not disturb tenant.

21. 2024-12-15
    historical $795
22. 2024-11-26
    price $795
23. 2024-11-07
    listed $825
24. 2018-10-11
    soldstatus $208,100 244-char remark

    Show marketing remark (244 chars)

    Sold Before Listed223 Doc Duhon $46,600 800sf 2/1 currently rented for $700728 Arthur $59,000 1275sf 3/2 currently rented for $900309 E Cedar $52,000 1000sf 3/1/1 currently rented for $800217 Laurel $50,000 1331 sf 3/2 currently rented for $800

25. 2018-09-14
    listed $208,100 244-char remark

    Show marketing remark (244 chars)

    Sold Before Listed223 Doc Duhon $46,600 800sf 2/1 currently rented for $700728 Arthur $59,000 1275sf 3/2 currently rented for $900309 E Cedar $52,000 1000sf 3/1/1 currently rented for $800217 Laurel $50,000 1331 sf 3/2 currently rented for $800

26. 2017-05-31
    soldstatus $46,500
27. 2017-05-31
    soldstatus $46,500
28. 2017-05-09
    listed $50,000
29. 2010-08-10
    soldstatus $29,500
30. 2010-07-21
    listed $29,500

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $500 · $42/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 X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 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: $12,638
• − Mortgage interest: −$3,641
• − Property taxes: −$500
• − Insurance: −$325
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$1,891
• Taxable income: $4,259
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $4,046/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): 26,465
• Household income: $33,365
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2089.0

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 Black (73%)
• Race & ethnicity: Black 73% White 18% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 2%

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: ▼ -108.63%
• Current HPI: 81.2963
• Rent YoY: ▲ 7.35%
• 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

+137.3% since first listed

14 events — show timeline

• 2026-03-15 Rental Removed $795 APPFOLIO
• 2026-02-20 Listed for Rent $795 APPFOLIO
• 2025-11-25 Price Changed $70,000 AcadianaMLS
• 2025-10-20 Listed $75,000 AcadianaMLS
• 2024-12-15 Rental Removed $795 APPFOLIO
• 2024-11-26 Price Changed $795 APPFOLIO
• 2024-11-07 Listed for Rent $825 APPFOLIO
• 2018-10-11 Sold (MLS) $208,100 AcadianaMLS
• 2018-09-14 Listed $208,100 AcadianaMLS
• 2017-05-31 Sold (Public Records) $46,500 Public Records
• 2017-05-31 Sold (MLS) $46,500 AcadianaMLS
• 2017-05-09 Listed $50,000 AcadianaMLS
• 2010-08-10 Sold (MLS) $29,500 AcadianaMLS
• 2010-07-21 Listed $29,500 AcadianaMLS

Property tax history

+33.2%/yr

Latest (2025): $500 · -1.1% YoY. Source: county tax records.