602 Pershing Rd · Lafayette, LA 70501

$65,000

2 bd · 2.0 ba · 1,670 sqft · SingleFamily public records · 22 Days on market

Built 1980 8,712 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to this 2-bedroom, 2 full-bath brick home with a spacious living room and a layout ready for your personal touch. The eat-in kitchen flows into the living area and features a breakfast bar and sliding door that opens to the backyard. Both bedrooms are well-sized with their own closets. The home also includes a 2-car carport. Conveniently located near parks, schools, and major commuting routes.

Key facts

• 2-car carport
• Backyard
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• BREAKFAST BAR
• SLIDING DOOR
• BACKYARD
• 2-CAR CARPORT
• NEAR PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/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: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.3% 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: Acadian Middle School (math 13% / reading 27%, grade F, #166 of 218 statewide, top 76%, 372 students, 74% FRL); Northside High School (math 17% / reading 22%, grade F, #186 of 265 statewide, top 73%, 655 students, 83% FRL) — zoned schools average 79% FRL vs 56% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 42% district-wide (-22 pts) — the specific schools serving this property underperform the Lafayette Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.3%/yr); 246 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• At $1,260/mo this rent would consume 45% of the median local household income ($33k/yr) (locally 2089% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 22 days — a 2% lower offer ($64k) 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 $64,025 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.94% ✓
• Cap rate: 16.32%
• Cash-on-cash: 35.83%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $141,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Pershing Rd	0.00mi	2/2.0	1,596 (-4%)	2mo	$65,000	$41	91
321 Verdun St	0.31mi	3/2.0 (+1)	1,666 (-0%)	2mo	$33,500	$20	78
311 Pershing St	0.20mi	3/2.0 (+1)	1,647 (-1%)	13mo	$125,000	$76	73
123 Park Ave	0.68mi	2/2.0	1,613 (-3%)	2mo	$155,000	$96	61
218 Ovey Dr	0.27mi	3/2.0 (+1)	1,800 (+8%)	13mo	$130,000	$72	58
942 St Charles St	0.67mi	3/2.0 (+1)	1,650 (-1%)	10mo	$66,000	$40	54
412 S Sterling St	0.71mi	3/2.0 (+1)	1,650 (-1%)	9mo	$140,000	$85	53
1002 Saint Charles St	0.68mi	3/1.0 (+1)	1,712 (+2%)	4mo	$50,000	$29	52
1740 E Pinhook Rd	0.34mi	3/2.0 (+1)	1,425 (-15%)	9mo	$140,984	$99	47
1113 Eleventh St	0.41mi	3/2.0 (+1)	1,450 (-13%)	14mo	$169,500	$117	42
216 Grimsby St	0.63mi	3/2.0 (+1)	1,515 (-9%)	19mo	$160,000	$106	35
206 Arizona St	0.62mi	3/2.0 (+1)	1,464 (-12%)	15mo	$145,000	$99	33

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: 36.4%
• Equity multiple: 2.64×
• Total profit: $29,851
• Equity at exit: $9,692

10-year hold

• IRR: 45.3%
• Equity multiple: 6.30×
• Total profit: $96,480
• 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: 4.3×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$341
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $543

Break-even live

Break-even rent $572

Max offer price $65,000

Occupancy floor 52%

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 Saint Charles St Lafayette, LA	3.0	2.0	1200	$1,250	$1.04	21d	1	0.62mi
615 Lafayette St Lafayette, LA	2.0	2.0	1188	$1,350	$1.14	44d	1	1.44mi
117 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	21d	1	1.47mi
109 Perth PL Lafayette, LA	2.0	2.0	1150	$1,625	$1.41	13d	1	1.47mi
3600 E Simcoe St Lafayette, LA	1.0–3.0	1.0–2.0	1100	$1,150	$1.05	13d	5	1.48mi

Listing history 3 events

1. 2026-04-30
   soldstatus $65,000
2. 2026-04-15
   status Pending
3. 2026-03-23
   listed $65,000 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: $1,008 · $84/mo
• Projected year-2 tax: $1,008 · $84/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 8/10 Severe 7 d/yr ≥108°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: $15,119
• − Mortgage interest: −$3,641
• − Property taxes: −$1,008
• − Insurance: −$325
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$1,891
• Taxable income: $5,835
• Est. tax owed @ 24.0%: −$1,400
• After-tax cash flow: $5,120/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

+0.0% since first listed

3 events — show timeline

• 2026-04-30 Sold (Public Records) $65,000 Public Records
• 2026-04-15 Pending — AcadianaMLS
• 2026-03-23 Listed $65,000 AcadianaMLS

Property tax history

+34.8%/yr

Latest (2025): $1,008 · -1.1% YoY. Source: county tax records.