154 Catherine St · Lafayette, LA 70504

$185,000

4 bd · 2.0 ba · 1,765 sqft · SingleFamily public records · 94 Days on market

Built 1960 0.36 ac lot $105/sqft · 28% below area Est $269k · 31% 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• Appreciation +5.0/10.0
• 1% rule +4.6/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

OVERSIZED LOT + PRICED BELOW APPRAISAL! Welcome to 154 Catherine Street, a solid opportunity with plenty of upside. This home offers a functional layout, good natural light, and flexible living space that gives the next owner room to make it their own. The kitchen provides good cabinet and counter space, and the bedrooms offer practical space for everyday use, guests, or a home office.One of the biggest highlights is the oversized lot, giving you extra outdoor space with tons of potential. Whether you're looking for room to garden, add storage, create an outdoor setup, or simply enjoy more yard space, this property gives you options.The home is in need of minor repairs to one section of the subfloor, and the seller is offering an allowance to help complete the work. A repair estimate has already been received, helping give buyers a clearer idea of the scope. Conveniently located with easy access to shopping, dining, and major roads, 154 Catherine Street is a great option for someone looking for value, space, and potential. Schedule your showing today.

Key facts

• 0.36 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/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 $178k (3.7% below list).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: 2 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $52k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $185k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 0.96% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.01%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

• ARV (median comp): $268,518
• List price: $185,000
• Delta: -31.10%
• 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
154 Catherine St	0.00mi	4/2.0	1,846 (+5%)	0mo	$135,000	$73	92
203 Neil St	0.15mi	3/2.0 (-1)	1,700 (-4%)	7mo	$153,000	$90	76
113 Oak Crest Dr	0.19mi	3/1.5 (-1)	1,670 (-5%)	2mo	$163,520	$98	74
148 Catherine St	0.01mi	3/2.0 (-1)	1,550 (-12%)	7mo	$269,800	$174	68
146 Catherine St Unit A	0.02mi	3/2.0 (-1)	1,550 (-12%)	9mo	$270,000	$174	66
146 Catherine St Unit B	0.02mi	3/2.0 (-1)	1,550 (-12%)	10mo	$270,000	$174	65
174 Catherine St	0.08mi	4/2.5	2,021 (+14%)	7mo	$169,125	$84	65
120 Hillside Dr	0.43mi	3/3.0 (-1)	1,864 (+6%)	7mo	$235,000	$126	56
706 Harding St	0.74mi	4/2.0	1,924 (+9%)	1mo	$310,000	$161	50
108 Wedgewood Dr	0.56mi	3/2.0 (-1)	1,617 (-8%)	8mo	$242,500	$150	49
118 Wedgewood Dr	0.50mi	3/2.0 (-1)	1,512 (-14%)	5mo	$191,000	$126	44
315 Saint Landry St	0.72mi	4/2.5	1,628 (-8%)	10mo	$273,500	$168	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.75×
• Total profit: $38,760
• Equity at exit: $83,184

10-year hold

• IRR: 15.0%
• Equity multiple: 3.22×
• Total profit: $114,774
• Equity at exit: $128,196

Cash invested: $51,800 (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 70504

• Active inventory: 2
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,781 high
• Mortgage (P&I): −$970
• Tax from tax record: −$100 /mo · $1,199/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $260

Break-even live

Break-even rent $1,452

Max offer price $185,000

Occupancy floor 80%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Oakcrest Dr Lafayette, LA	3.0	2.0	1695	$1,700	$1.00	21d	1	0.14mi
119 Saint Julien Ave Lafayette, LA	4.0	3.0	1600	$1,785	$1.12	43d	1	0.30mi
313 Saint Thomas St Lafayette, LA	3.0	1.0	1265	$1,500	$1.19	21d	1	0.71mi
228 Amelia St Lafayette, LA	3.0	1.5	1796	$2,300	$1.28	21d	1	0.71mi
213 General Gardner Ave Lafayette, LA	3.0	1.0	1300	$1,750	$1.35	21d	1	0.84mi
517 Saint Patrick St Lafayette, LA	3.0	2.0	1600	$1,650	$1.03	21d	1	0.86mi
418 Marguerite Blvd Lafayette, LA	3.0	2.0	2107	$2,400	$1.14	21d	1	0.93mi
244 N College Rd Lafayette, LA	3.0	2.0	1721	$2,000	$1.16	43d	1	0.98mi
215 Versailles Blvd Unit 3 Lafayette, LA	3.0	2.0	1800	$1,675	$0.93	21d	1	1.13mi
1312 W University Ave Lafayette, LA	3.0	2.0	1700	$1,300	$0.76	43d	1	1.19mi
903 Myrtle Pl Lafayette, LA	3.0	2.0	2093	$2,000	$0.96	21d	1	1.20mi
126 S Refinery St Lafayette, LA	4.0	2.0	1550	$1,495	$0.96	43d	1	1.35mi

Listing history 5 events

1. 2026-05-08
   price $185,000 1067-char remark

   Show marketing remark (1067 chars)

   OVERSIZED LOT + PRICED BELOW APPRAISAL! Welcome to 154 Catherine Street, a solid opportunity with plenty of upside. This home offers a functional layout, good natural light, and flexible living space that gives the next owner room to make it their own. The kitchen provides good cabinet and counter space, and the bedrooms offer practical space for everyday use, guests, or a home office.One of the biggest highlights is the oversized lot, giving you extra outdoor space with tons of potential. Whether you're looking for room to garden, add storage, create an outdoor setup, or simply enjoy more yard space, this property gives you options.The home is in need of minor repairs to one section of the subfloor, and the seller is offering an allowance to help complete the work. A repair estimate has already been received, helping give buyers a clearer idea of the scope. Conveniently located with easy access to shopping, dining, and major roads, 154 Catherine Street is a great option for someone looking for value, space, and potential. Schedule your showing today.

2. 2026-04-20
   price $195,000 1067-char remark

   Show marketing remark (1067 chars)

   OVERSIZED LOT + PRICED BELOW APPRAISAL! Welcome to 154 Catherine Street, a solid opportunity with plenty of upside. This home offers a functional layout, good natural light, and flexible living space that gives the next owner room to make it their own. The kitchen provides good cabinet and counter space, and the bedrooms offer practical space for everyday use, guests, or a home office.One of the biggest highlights is the oversized lot, giving you extra outdoor space with tons of potential. Whether you're looking for room to garden, add storage, create an outdoor setup, or simply enjoy more yard space, this property gives you options.The home is in need of minor repairs to one section of the subfloor, and the seller is offering an allowance to help complete the work. A repair estimate has already been received, helping give buyers a clearer idea of the scope. Conveniently located with easy access to shopping, dining, and major roads, 154 Catherine Street is a great option for someone looking for value, space, and potential. Schedule your showing today.

3. 2026-04-08
   price $214,000 1067-char remark

   Show marketing remark (1067 chars)

   OVERSIZED LOT + PRICED BELOW APPRAISAL! Welcome to 154 Catherine Street, a solid opportunity with plenty of upside. This home offers a functional layout, good natural light, and flexible living space that gives the next owner room to make it their own. The kitchen provides good cabinet and counter space, and the bedrooms offer practical space for everyday use, guests, or a home office.One of the biggest highlights is the oversized lot, giving you extra outdoor space with tons of potential. Whether you're looking for room to garden, add storage, create an outdoor setup, or simply enjoy more yard space, this property gives you options.The home is in need of minor repairs to one section of the subfloor, and the seller is offering an allowance to help complete the work. A repair estimate has already been received, helping give buyers a clearer idea of the scope. Conveniently located with easy access to shopping, dining, and major roads, 154 Catherine Street is a great option for someone looking for value, space, and potential. Schedule your showing today.

4. 2026-02-19
   listed $227,500 Active 1067-char remark

   Show marketing remark (1067 chars)

   OVERSIZED LOT + PRICED BELOW APPRAISAL! Welcome to 154 Catherine Street, a solid opportunity with plenty of upside. This home offers a functional layout, good natural light, and flexible living space that gives the next owner room to make it their own. The kitchen provides good cabinet and counter space, and the bedrooms offer practical space for everyday use, guests, or a home office.One of the biggest highlights is the oversized lot, giving you extra outdoor space with tons of potential. Whether you're looking for room to garden, add storage, create an outdoor setup, or simply enjoy more yard space, this property gives you options.The home is in need of minor repairs to one section of the subfloor, and the seller is offering an allowance to help complete the work. A repair estimate has already been received, helping give buyers a clearer idea of the scope. Conveniently located with easy access to shopping, dining, and major roads, 154 Catherine Street is a great option for someone looking for value, space, and potential. Schedule your showing today.

5. 2011-05-05
   soldstatus $90,000

ⓘ 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: $1,199 · $100/mo
• Projected year-2 tax: $1,199 · $100/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 · 20 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: $21,368
• − Mortgage interest: −$10,363
• − Property taxes: −$1,199
• − Insurance: −$925
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$5,382
• Taxable income: $80
• Est. tax owed @ 24.0%: −$19
• After-tax cash flow: $3,095/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+105.6% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $185,000 AcadianaMLS
• 2026-04-20 Price Changed $195,000 AcadianaMLS
• 2026-04-08 Price Changed $214,000 AcadianaMLS
• 2026-02-19 Listed $227,500 AcadianaMLS
• 2011-05-05 Sold (Public Records) $90,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,199 · -1.1% YoY. Source: county tax records.