109 Thomas Nolan Dr · Lafayette, LA 70508

$153,000

3 bd · 2.0 ba · 1,650 sqft · SingleFamily public records · 54 Days on market

Built 1967 0.29 ac lot Est $224k · 32% under

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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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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

Be quick to buy this foreclosure in the desirable Holiday Gardens subdivision. Bring this house back to it's former glory and get instant equity. Great location and sought after area!

Key facts

• 0.29 acre lot
• 2 parking spots
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $153k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $153k).
• Recommended offer: $148k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• Zoned schools: Katharine Drexel Elementary School (math 34% / reading 57%, grade D-, #169 of 646 statewide, top 27%, 646 students, 69% FRL); Broussard Middle School (math 38% / reading 51%, grade D, #49 of 218 statewide, top 23%, 581 students, 60% FRL); Lafayette High School (math 57% / reading 51%, grade C-, #28 of 265 statewide, top 11%, 1,852 students, 52% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents rising (+1.2%/yr); 464 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 1.2% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

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 $148,410 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.43%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $224,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Patricia Ann Pl	0.09mi	3/2.0	1,623 (-2%)	2mo	$220,500	$136	91
106 Whitewater Dr	0.29mi	3/2.0	1,666 (+1%)	4mo	$295,000	$177	82
102 Whipple Ave	0.28mi	4/2.0 (+1)	1,655 (+0%)	2mo	$208,000	$126	79
408 Mosser Dr	0.32mi	3/2.0	1,702 (+3%)	4mo	$229,000	$135	77
107 Brigante Pl	0.11mi	3/2.0	1,505 (-9%)	5mo	$187,000	$124	76
213 Lynn Dr	0.47mi	3/2.0	1,633 (-1%)	2mo	$190,000	$116	75
144 Gordon Crocket Dr	0.34mi	3/2.0	1,726 (+5%)	4mo	$195,000	$113	73
207 Fairwood Dr	0.63mi	3/2.0	1,650 (0%)	6mo	$285,000	$173	65
208 Overbrook Dr	0.73mi	3/2.0	1,773 (+8%)	0mo	$290,000	$164	54
805 W Monroe St	0.69mi	3/3.0	1,532 (-7%)	4mo	$190,000	$124	49
416 Hillbrooke Dr	0.69mi	3/2.0	1,466 (-11%)	1mo	$250,000	$171	49
100 Newshire Dr	0.64mi	4/2.0 (+1)	1,512 (-8%)	4mo	$245,000	$162	48

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: 5.5%
• Equity multiple: 1.21×
• Total profit: $9,014
• Equity at exit: $22,813

10-year hold

• IRR: 13.3%
• Equity multiple: 1.98×
• Total profit: $41,914
• Equity at exit: $13,229

Cash invested: $42,840 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,027 high
• Mortgage (P&I): −$802
• Tax from tax record: −$149 /mo · $1,783/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $586

Break-even live

Break-even rent $1,284

Max offer price $153,000

Occupancy floor 66%

Sensitivity live

Price	-10% $673	-5% $630	+0% $586	+5% $543	+10% $500
Rent	-10% $426	-5% $506	+0% $586	+5% $666	+10% $747
Rate	-1.0pp $663	-0.5pp $625	base $586	+0.5pp $547	+1.0pp $506

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	0.32mi
620 W Main St Broussard, LA	3.0	2.0	1587	$1,600	$1.01	44d	1	0.46mi
126 Heathwood Dr Broussard, LA	4.0	3.0	1989	$2,500	$1.26	44d	1	0.63mi
404 Sparrowhawk St Broussard, LA	3.0	2.0	1825	$2,200	$1.21	14d	1	0.93mi
200 Tennyson Dr Broussard, LA	3.0	2.0	1843	$2,495	$1.35	44d	1	0.94mi
200 Tennyson Dr Broussard, LA	3.0	2.5	1843	$2,300	$1.25	14d	1	0.94mi
106 Padre Dr Broussard, LA	3.0	2.0	1180	$1,500	$1.27	21d	1	1.27mi
711 E Main St #100 Broussard, LA	3.0	2.0	1644	$2,750	$1.67	44d	1	1.50mi

Listing history 11 events

1. 2026-06-10
   days on market $153,000 Active 54 DOM
2. 2026-06-09
   days on market $153,000 Active 53 DOM
3. 2026-06-08
   days on market $153,000 Active 52 DOM
4. 2026-06-07
   days on market $153,000 Active 51 DOM
5. 2026-06-05
   days on market $153,000 Active 48 DOM
6. 2026-06-03
   days on market $153,000 Active 47 DOM
7. 2026-06-02
   days on market $153,000 Active 46 DOM
8. 2026-06-01
   days on market $153,000 Active 45 DOM
9. 2026-05-31
   status $153,000 Active 44 DOM
10. 2026-04-01
    status Pending
11. 2026-02-16
    listed $153,000 Active

ⓘ 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: $1,783 · $149/mo
• Projected year-2 tax: $1,783 · $149/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $24,321
• − Mortgage interest: −$8,570
• − Property taxes: −$1,783
• − Insurance: −$765
• − Repairs & maintenance: −$1,946
• − Management: −$1,946
• − Depreciation: −$4,451
• Taxable income: $4,860
• Est. tax owed @ 24.0%: −$1,166
• After-tax cash flow: $5,871/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

2 events — show timeline

• 2026-04-01 Pending — AcadianaMLS
• 2026-02-16 Listed $153,000 AcadianaMLS

Property tax history

+9.9%/yr

Latest (2025): $1,783 · -1.1% YoY. Source: county tax records.