121 Millie Park · Lafayette, LA 70506

$200,000

3 bd · 2.5 ba · 1,575 sqft · SingleFamily public records · 83 Days on market

Built 2010 4,356 sqft lot $127/sqft · 22% below area Est $261k · 23% under

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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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and low-maintenance, this 3 bedroom, 2.5 bathroom patio home offers 1,607 sq ft of smart, functional living space in a prime location. The primary suite is conveniently located downstairs with a half bath, while two guest bedrooms and a full bath are tucked upstairs for added privacy.Inside, you'll find stained concrete floors, granite countertops throughout, and stainless steel appliances that give the home a clean, modern feel. Designed for easy living, the yard is low maintenance and the home sits on a desirable corner lot along a private road.Major updates completed in 2024 include a new HVAC system featuring a hospital-grade UV light for air sanitation, professionally cleaned ductwork, a smart thermostat, and a new water heater -- offering added comfort and peace of mind.Located just minutes from Jet Coffee and Rouses Markets, with quick access to Ambassador Caffery Parkway, this home provides convenient access to shopping, dining, and everyday essentials.

Key facts

• Private road
• Low maintenance yard
• Granite countertops

Tags

• STAINED CONCRETE FLOORS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LOW MAINTENANCE YARD
• CORNER LOT
• PRIVATE ROAD

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (8.8% below list).
• Recommended offer: $182k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 (+4.1%/yr); 404 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent runs 38% of the median local income ($57k/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 83 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $19k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $182,338 (8.8% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.91% ✗
• Cap rate: 7.13%
• Cash-on-cash: 3.00%
• DSCR: 1.13
• GRM: 9.1

CMA / ARV

• ARV (median comp): $260,587
• List price: $200,000
• Delta: -23.25%
• 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
125 Segovia Way	0.31mi	3/2.0	1,538 (-2%)	3mo	$243,000	$158	77
202 N Lakepointe Dr	0.32mi	3/2.0	1,600 (+2%)	7mo	$228,000	$143	75
124 Lightbourne Dr	0.39mi	3/2.0	1,629 (+3%)	6mo	$250,000	$153	69
122 Segovia Way	0.28mi	3/2.0	1,735 (+10%)	0mo	$253,000	$146	68
344 Ridge Rd	0.58mi	3/2.0	1,522 (-3%)	1mo	$160,000	$105	64
112 Lightbourne Dr	0.39mi	3/2.0	1,629 (+3%)	12mo	$250,000	$153	64
220 Vagabond Way	0.30mi	4/2.5 (+1)	1,738 (+10%)	2mo	$256,800	$148	62
135 Segovia Way	0.32mi	3/2.0	1,356 (-14%)	1mo	$220,000	$162	59
214 S Lakepointe Dr	0.32mi	4/2.0 (+1)	1,731 (+10%)	4mo	$258,000	$149	58
132 Grace View Dr	0.33mi	4/2.0 (+1)	1,731 (+10%)	11mo	$245,000	$142	52
201 Resthaven Way	0.46mi	3/2.0	1,356 (-14%)	11mo	$211,000	$156	44
411 Floridian Ln	0.69mi	2/2.0 (-1)	1,450 (-8%)	6mo	$219,000	$151	42

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 · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-21,444
• Equity at exit: $29,821

10-year hold

• IRR: 0.3%
• Equity multiple: 1.03×
• Total profit: $1,429
• 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 70506

• Home prices YoY: -34.8%
• Rents YoY: 4.1%
• Active inventory: 404
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,823 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$168 /mo · $2,021/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $140

Break-even live

Break-even rent $1,646

Max offer price $200,000

Occupancy floor 87%

Sensitivity live

Price	-10% $253	-5% $196	+0% $140	+5% $83	+10% $27
Rent	-10% $-4	-5% $68	+0% $140	+5% $212	+10% $284
Rate	-1.0pp $241	-0.5pp $191	base $140	+0.5pp $88	+1.0pp $35

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Millie Park Lafayette, LA	3.0	2.0	1200	$1,750	$1.46	22d	1	0.05mi
343 Ridge Rd Lafayette, LA	2.0–3.0	2.0	1113	$1,995	$1.79	14d	34	0.78mi
108 Appleoak Ave Unit B Lafayette, LA	2.0	2.5	1348	$1,495	$1.11	44d	1	0.82mi
106 Braddish Ct Lafayette, LA	3.0	2.0	1659	$1,900	$1.15	22d	1	0.88mi
221 Wakely CT Lafayette, LA	3.0	2.0	1659	$1,975	$1.19	14d	1	0.94mi
1630 Rue du Belier Lafayette, LA	1.0–3.0	1.0–2.0	1060	$1,600	$1.51	14d	25	1.05mi
304 Tall Meadows Ln Lafayette, LA	3.0	2.0	1689	$1,850	$1.10	44d	1	1.08mi
105 Alpine Meadows Ln Lafayette, LA	3.0	2.0	1629	$1,945	$1.19	22d	1	1.09mi
303 Tall Meadows Ln Lafayette, LA	3.0	2.0	1522	$2,000	$1.31	22d	1	1.11mi
307 Grassy Meadows Ln Lafayette, LA	3.0	2.0	1603	$2,200	$1.37	22d	1	1.15mi
300 Highland Dr Lafayette, LA	4.0	2.0	2200	$1,900	$0.86	44d	1	1.33mi
6000 Johnston St Lafayette, LA	1.0–3.0	1.0–2.0	1093	$1,740	$1.59	14d	20	1.36mi
123 Highland Dr Lafayette, LA	3.0	2.0	1550	$1,700	$1.10	22d	1	1.45mi
104 Marblehead Ave Lafayette, LA	2.0–3.0	2.0–2.5	1448	$2,668	$1.84	14d	126	1.46mi

Listing history 26 events

1. 2026-05-06
   price $200,000 984-char remark

   Show marketing remark (984 chars)

   Charming and low-maintenance, this 3 bedroom, 2.5 bathroom patio home offers 1,607 sq ft of smart, functional living space in a prime location. The primary suite is conveniently located downstairs with a half bath, while two guest bedrooms and a full bath are tucked upstairs for added privacy.Inside, you'll find stained concrete floors, granite countertops throughout, and stainless steel appliances that give the home a clean, modern feel. Designed for easy living, the yard is low maintenance and the home sits on a desirable corner lot along a private road.Major updates completed in 2024 include a new HVAC system featuring a hospital-grade UV light for air sanitation, professionally cleaned ductwork, a smart thermostat, and a new water heater -- offering added comfort and peace of mind.Located just minutes from Jet Coffee and Rouses Markets, with quick access to Ambassador Caffery Parkway, this home provides convenient access to shopping, dining, and everyday essentials.

2. 2026-04-13
   price $209,500 984-char remark

   Show marketing remark (984 chars)

   Charming and low-maintenance, this 3 bedroom, 2.5 bathroom patio home offers 1,607 sq ft of smart, functional living space in a prime location. The primary suite is conveniently located downstairs with a half bath, while two guest bedrooms and a full bath are tucked upstairs for added privacy.Inside, you'll find stained concrete floors, granite countertops throughout, and stainless steel appliances that give the home a clean, modern feel. Designed for easy living, the yard is low maintenance and the home sits on a desirable corner lot along a private road.Major updates completed in 2024 include a new HVAC system featuring a hospital-grade UV light for air sanitation, professionally cleaned ductwork, a smart thermostat, and a new water heater -- offering added comfort and peace of mind.Located just minutes from Jet Coffee and Rouses Markets, with quick access to Ambassador Caffery Parkway, this home provides convenient access to shopping, dining, and everyday essentials.

3. 2026-03-14
   price $215,000 984-char remark

   Show marketing remark (984 chars)

   Charming and low-maintenance, this 3 bedroom, 2.5 bathroom patio home offers 1,607 sq ft of smart, functional living space in a prime location. The primary suite is conveniently located downstairs with a half bath, while two guest bedrooms and a full bath are tucked upstairs for added privacy.Inside, you'll find stained concrete floors, granite countertops throughout, and stainless steel appliances that give the home a clean, modern feel. Designed for easy living, the yard is low maintenance and the home sits on a desirable corner lot along a private road.Major updates completed in 2024 include a new HVAC system featuring a hospital-grade UV light for air sanitation, professionally cleaned ductwork, a smart thermostat, and a new water heater -- offering added comfort and peace of mind.Located just minutes from Jet Coffee and Rouses Markets, with quick access to Ambassador Caffery Parkway, this home provides convenient access to shopping, dining, and everyday essentials.

4. 2026-03-04
   listed $219,000 Active 984-char remark

   Show marketing remark (984 chars)

   Charming and low-maintenance, this 3 bedroom, 2.5 bathroom patio home offers 1,607 sq ft of smart, functional living space in a prime location. The primary suite is conveniently located downstairs with a half bath, while two guest bedrooms and a full bath are tucked upstairs for added privacy.Inside, you'll find stained concrete floors, granite countertops throughout, and stainless steel appliances that give the home a clean, modern feel. Designed for easy living, the yard is low maintenance and the home sits on a desirable corner lot along a private road.Major updates completed in 2024 include a new HVAC system featuring a hospital-grade UV light for air sanitation, professionally cleaned ductwork, a smart thermostat, and a new water heater -- offering added comfort and peace of mind.Located just minutes from Jet Coffee and Rouses Markets, with quick access to Ambassador Caffery Parkway, this home provides convenient access to shopping, dining, and everyday essentials.

5. 2026-02-06
   price $219,600
6. 2026-01-30
   price $219,700
7. 2026-01-22
   price $219,800
8. 2026-01-01
   price $219,900
9. 2025-12-13
   price $223,900
10. 2025-12-01
    price $224,000
11. 2025-11-23
    price $224,100
12. 2025-11-13
    price $224,200
13. 2025-11-08
    price $224,300
14. 2025-10-31
    price $224,400
15. 2025-10-23
    price $224,500
16. 2025-10-16
    price $229,500
17. 2025-10-09
    price $229,600
18. 2025-09-27
    price $229,700
19. 2025-09-19
    price $229,800
20. 2025-09-01
    price $229,900
21. 2025-08-27
    price $234,800
22. 2025-08-15
    listed $234,900 Active
23. 2020-08-07
    soldstatus $185,000
24. 2020-08-06
    soldstatus $185,000
25. 2020-04-30
    listed $190,000
26. 2009-11-27
    listed $199,500

ⓘ 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: $2,021 · $168/mo
• Projected year-2 tax: $2,021 · $168/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 3/10 Moderate
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,881
• − Mortgage interest: −$11,203
• − Property taxes: −$2,021
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,750
• − Management: −$1,750
• − Depreciation: −$5,818
• Taxable loss: −$1,663
• Est. tax savings @ 24.0%: +$399
• After-tax cash flow: $2,078/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): 42,318
• Household income: $57,379
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 2095.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 20% Hispanic / Latino 13% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 18% Armenian 1% Slovak 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 9% French/Haitian/Cajun 3% Vietnamese 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: ▼ -75.28%
• Current HPI: 140.8445
• Rent YoY: ▲ 4.12%
• 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

+0.3% since first listed

26 events — show timeline

• 2026-05-06 Price Changed $200,000 AcadianaMLS
• 2026-04-13 Price Changed $209,500 AcadianaMLS
• 2026-03-14 Price Changed $215,000 AcadianaMLS
• 2026-03-04 Listed $219,000 AcadianaMLS
• 2026-02-06 Price Changed $219,600 AcadianaMLS
• 2026-01-30 Price Changed $219,700 AcadianaMLS
• 2026-01-22 Price Changed $219,800 AcadianaMLS
• 2026-01-01 Price Changed $219,900 AcadianaMLS
• 2025-12-13 Price Changed $223,900 AcadianaMLS
• 2025-12-01 Price Changed $224,000 AcadianaMLS
• 2025-11-23 Price Changed $224,100 AcadianaMLS
• 2025-11-13 Price Changed $224,200 AcadianaMLS
• 2025-11-08 Price Changed $224,300 AcadianaMLS
• 2025-10-31 Price Changed $224,400 AcadianaMLS
• 2025-10-23 Price Changed $224,500 AcadianaMLS
• 2025-10-16 Price Changed $229,500 AcadianaMLS
• 2025-10-09 Price Changed $229,600 AcadianaMLS
• 2025-09-27 Price Changed $229,700 AcadianaMLS
• 2025-09-19 Price Changed $229,800 AcadianaMLS
• 2025-09-01 Price Changed $229,900 AcadianaMLS
• 2025-08-27 Price Changed $234,800 AcadianaMLS
• 2025-08-15 Listed $234,900 AcadianaMLS
• 2020-08-07 Sold (Public Records) $185,000 Public Records
• 2020-08-06 Sold (MLS) $185,000 AcadianaMLS
• 2020-04-30 Listed $190,000 AcadianaMLS
• 2009-11-27 Listed $199,500 AcadianaMLS

Property tax history

+2.0%/yr

Latest (2025): $2,021 · -1.1% YoY. Source: county tax records.