215 W Clarence St W

Lake Charles, LA 70601

$244,500D-

3 bd · 2.5 ba · 1,484 sqft · Built 2017 · Townhouse · Active · 395 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,527/mo
• Mortgage (P&I): −$1,282
• Tax + insurance: −$307
• HOA: −$100
• Vac / Maint / Mgmt: −$321
• Net cashflow: $-483/mo
• Annual: $-5,802/yr
• Cap rate: 3.92%
• Cash-on-cash: -8.47%
• DSCR: 0.62
• 1% rule: 0.62%
• Cash to close: $68,460

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $244k. Condition is rated good.
• At list price, monthly cash flow is $-483 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (34.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (37.6% below list).
• It's been on market 395 days — a 12% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (37.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#95 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment D-.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Barbe Elementary School (math 12% / reading 32%, grade F, #415 of 646 statewide, top 67%, 164 students, 84% FRL); Ray D. Molo Middle Magnet School (math 6% / reading 18%, grade F, #193 of 218 statewide, top 88%, 325 students, 91% FRL); Washington/Marion Magnet High School (math 8% / reading 12%, grade F, #241 of 265 statewide, top 93%, 587 students, 80% FRL) — zoned schools average 85% FRL vs 52% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 37% district-wide (-22 pts) — the specific schools serving this property underperform the Calcasieu Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.2%/yr); 512 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 3.9% vs local median 5.1% in Lake Charles — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 37% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 395 days. Have you received any prior offers? Is the seller open to a 38% 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?