2822 Progressive St · Lake Charles, LA 70601

$120,000

3 bd · 2.0 ba · 818 sqft · SingleFamily · 318 Days on market

Built 2021 6,534 sqft lot $147/sqft · 67% above area

---

Why this score? — see what drove the D+ 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 +16.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Reduced Price!! Updated cozy cottage home in quiet neighborhood. Freshly painted. Hardie board siding. Granite countertops in both the kitchen and baths. Double pane windows. Ceiling fans throughout. All appliances stay with home. A/C is 5 years old. Large fenced in backyard. Currently leased for $1200/mo. Flood Zone X. All measurements m/l

Key facts

• Ceiling fans
• Double pane windows
• Granite countertops

Tags

• HARDIE BOARD SIDING
• GRANITE COUNTERTOPS
• DOUBLE PANE WINDOWS
• CEILING FANS
• LARGE FENCED IN BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $76 ($911/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 $106k (11.5% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.3% in Lake Charles — 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 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.
• Market conditions: Rents rising fast (+6.2%/yr); 363 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 318 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $21k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $120k implies a 1805% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 0.88% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.71%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (median comp): $71,846
• List price: $120,000
• Delta: 67.02%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1803 9th Ave	0.28mi	2/1.0 (-1)	725 (-11%)	16mo	$45,000	$62	46
2324 Rose St	0.53mi	2/1.0 (-1)	806 (-2%)	23mo	$83,500	$104	44
2224 Lilly St	0.70mi	2/1.0 (-1)	800 (-2%)	15mo	$78,000	$98	42
2301 Lilly St	0.63mi	2/1.0 (-1)	884 (+8%)	18mo	$53,000	$60	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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.67×
• Total profit: $-11,131
• Equity at exit: $17,892

10-year hold

• IRR: 4.2%
• Equity multiple: 1.35×
• Total profit: $11,785
• Equity at exit: $10,375

Cash invested: $33,600 (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 70601

• Rents YoY: 6.2%
• Active inventory: 363
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,062 high
• Mortgage (P&I): −$629
• Tax from tax record: −$84 /mo · $1,002/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $76

Break-even live

Break-even rent $966

Max offer price $120,000

Occupancy floor 88%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2405 9th St Lake Charles, LA	2.0	1.0	788	$850	$1.08	13d	1	0.43mi
1906 8th Ave Lake Charles, LA	3.0	1.0	1001	$1,350	$1.35	43d	1	0.50mi
1105 Hunter Dr Lake Charles, LA	2.0	1.0	849	$900	$1.06	43d	1	0.61mi
1915 Legion St Lake Charles, LA	3.0	1.0	966	$950	$0.98	13d	1	1.08mi
2701 Cline St Unit C Lake Charles, LA	2.0	1.0	864	$700	$0.81	21d	1	1.22mi
333 Mill St Lake Charles, LA	1.0–2.0	1.0	758	$750	$0.99	13d	1	1.27mi
3529 Greinwich Blvd Lake Charles, LA	3.0	1.0	768	$895	$1.17	43d	1	1.45mi
1505 7th St Lake Charles, LA	2.0	1.0	1054	$900	$0.85	43d	1	1.46mi

Listing history 24 events

1. 2026-06-19
   days on market $120,000 Active 318 DOM
2. 2026-06-18
   days on market $120,000 Active 317 DOM
3. 2026-06-17
   days on market $120,000 Active 316 DOM
4. 2026-06-16
   days on market $120,000 Active 315 DOM
5. 2026-06-15
   days on market $120,000 Active 314 DOM
6. 2026-06-14
   days on market $120,000 Active 312 DOM
7. 2026-06-13
   days on market $120,000 Active 311 DOM
8. 2026-06-10
   days on market $120,000 Active 309 DOM
9. 2026-06-09
   days on market $120,000 Active 308 DOM
10. 2026-06-08
    days on market $120,000 Active 307 DOM
11. 2026-06-07
    days on market $120,000 Active 306 DOM
12. 2026-06-05
    days on market $120,000 Active 303 DOM
13. 2026-06-02
    days on market $120,000 Active 301 DOM
14. 2026-06-01
    days on market $120,000 Active 300 DOM
15. 2026-05-31
    days on market $120,000 Active 299 DOM
16. 2026-05-30
    days on market $120,000 Active 298 DOM
17. 2025-11-13
    price $120,000 342-char remark

    Show marketing remark (342 chars)

    Reduced Price!! Updated cozy cottage home in quiet neighborhood. Freshly painted. Hardie board siding. Granite countertops in both the kitchen and baths. Double pane windows. Ceiling fans throughout. All appliances stay with home. A/C is 5 years old. Large fenced in backyard. Currently leased for $1200/mo. Flood Zone X. All measurements m/l

18. 2025-09-24
    price $135,000 342-char remark

    Show marketing remark (342 chars)

    Reduced Price!! Updated cozy cottage home in quiet neighborhood. Freshly painted. Hardie board siding. Granite countertops in both the kitchen and baths. Double pane windows. Ceiling fans throughout. All appliances stay with home. A/C is 5 years old. Large fenced in backyard. Currently leased for $1200/mo. Flood Zone X. All measurements m/l

19. 2025-07-15
    listed $141,000 Active 342-char remark

    Show marketing remark (342 chars)

    Reduced Price!! Updated cozy cottage home in quiet neighborhood. Freshly painted. Hardie board siding. Granite countertops in both the kitchen and baths. Double pane windows. Ceiling fans throughout. All appliances stay with home. A/C is 5 years old. Large fenced in backyard. Currently leased for $1200/mo. Flood Zone X. All measurements m/l

20. 2019-10-08
    soldstatus $6,300
21. 2016-11-21
    soldstatus 216-char remark

    Show marketing remark (216 chars)

    This property is perfect for your new home. Great location near shopping and restaurants. Easy access from I 10 or 210. Drive by to see this beautiful lot. Property is in X flood zone. No flood insurance is required.

22. 2016-11-21
    soldstatus $7,500

    Show marketing remark (216 chars)

    This property is perfect for your new home. Great location near shopping and restaurants. Easy access from I 10 or 210. Drive by to see this beautiful lot. Property is in X flood zone. No flood insurance is required.

23. 2016-10-11
    listed $9,000 216-char remark

    Show marketing remark (216 chars)

    This property is perfect for your new home. Great location near shopping and restaurants. Easy access from I 10 or 210. Drive by to see this beautiful lot. Property is in X flood zone. No flood insurance is required.

24. 2016-05-25
    soldstatus $3,000

ⓘ 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: $1,002 · $84/mo
• Projected year-2 tax: $1,002 · $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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,740
• − Mortgage interest: −$6,722
• − Property taxes: −$1,002
• − Insurance: −$600
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$3,491
• Taxable loss: −$1,114
• Est. tax savings @ 24.0%: +$267
• After-tax cash flow: $1,178/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: Calcasieu Parish
• NCES district ID: 2200330
• Math proficiency: 30% ▼ -39.00%
• Reading proficiency: 44% ▼ -33.00%
• Median HH income: $44,700
• Composite: 31.45/100
• National rank: #5979
• State rank: #29 of 98 in LA

Livability — Lake Charles

• Score: 68/100
• State rank: #95
• US rank: #9820

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Charles, LA
• County: Calcasieu Parish · 170,889 people
• City population: 133,538
• Metro: Lake Charles, LA
• Population (ZIP): 30,872
• Household income: $49,992
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1304.0

Population outlook (Calcasieu County) Hauer SSP2

• Today (2025): 212,179 people
• By 2030: 218,199 · +2.8%
• By 2040: 228,486 · +7.7%
• By 2050: 236,208 · +11.3%
• By 2075: 251,696 · +18.6%
• By 2100: 247,848 · +16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 59% White 31% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Lithuanian 7% Iranian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Calcasieu

• 2024 margin: Solid R (+39.6) · D 29.5% · R 69.0% · Other 1.5%
• 2008→2024 swing: -15.0pp toward R · 2008: -24.6pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+35.2 2016: R+33.3 2012: R+28.7 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.32%
• Current HPI: 55.6127
• Rent YoY: ▲ 6.18%
• Metro: Lake Charles, 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

+3900.0% since first listed

8 events — show timeline

• 2025-11-13 Price Changed $120,000 SWLAR
• 2025-09-24 Price Changed $135,000 SWLAR
• 2025-07-15 Listed $141,000 SWLAR
• 2019-10-08 Sold (Public Records) $6,300 Public Records
• 2016-11-21 Sold (Public Records) $7,500 Public Records
• 2016-11-21 Sold (MLS) — SWLAR
• 2016-10-11 Listed $9,000 SWLAR
• 2016-05-25 Sold (Public Records) $3,000 Public Records

Property tax history

+22.7%/yr

Latest (2025): $1,002 · +4.5% YoY. Source: county tax records.