500 Grossie St · Lafayette, LA 70501

$89,000

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 139 Days on market

Built 1996 10,018 sqft lot ↓ 19% since listing

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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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• 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 MLS

Charming 2-Bedroom, 2-Bath Mobile Home on Spacious Corner LotWelcome to this well-maintained 2-bedroom, 2-bath home offering 1,120 sq. ft. of comfortable living space, perfectly situated on a corner lot spanning approximately 0.23 acres. This property features granite countertops, ceramic tile and laminate flooring throughout, and a functional open layout ideal for everyday living.Enjoy the convenience of covered parking and a covered patio, perfect for outdoor relaxation or entertaining. A major highlight of the property is the 40' x 30' metal shop, offering ample space for storage, hobbies, or a workshop.With plenty of outdoor space and great potential, this home is being sold AS-IS, making it an excellent opportunity for buyers looking to add personal touches or invest.

Key facts

• Laminate flooring
• Covered parking
• Covered patio

Tags

• CORNER LOT
• GRANITE COUNTERTOPS
• CERAMIC TILE
• LAMINATE FLOORING
• COVERED PARKING
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+7.3%/yr); 246 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 36% of the median local income ($33k/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 $615 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($78k) 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 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. 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: 1.14% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.35% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.29×
• Total profit: $7,196
• Equity at exit: $13,270

10-year hold

• IRR: 19.6%
• Equity multiple: 2.96×
• Total profit: $48,828
• Equity at exit: $7,695

Cash invested: $24,920 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$29 /mo · $354/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $267

Break-even live

Break-even rent $675

Max offer price $89,000

Occupancy floor 69%

Sensitivity live

Price	-10% $318	-5% $292	+0% $267	+5% $242	+10% $217
Rent	-10% $187	-5% $227	+0% $267	+5% $307	+10% $347
Rate	-1.0pp $312	-0.5pp $290	base $267	+0.5pp $244	+1.0pp $221

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 Sunset Dr Lafayette, LA	2.0	1.0	1000	$800	$0.80	44d	1	1.07mi
114 Choctaw Rd Lafayette, LA	2.0	1.0	1000	$1,200	$1.20	22d	1	1.44mi
2820 Louisiana Ave Lafayette, LA	1.0–2.0	1.0–2.0	821	$1,145	$1.39	14d	20	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $89,000 Active 139 DOM
2. 2026-06-17
   days on market $89,000 Active 138 DOM
3. 2026-06-16
   days on market $89,000 Active 137 DOM
4. 2026-06-15
   days on market $89,000 Active 136 DOM
5. 2026-06-14
   days on market $89,000 Active 134 DOM
6. 2026-06-13
   days on market $89,000 Active 133 DOM
7. 2026-06-10
   days on market $89,000 Active 131 DOM
8. 2026-06-09
   days on market $89,000 Active 130 DOM
9. 2026-06-08
   days on market $89,000 Active 129 DOM
10. 2026-06-07
    days on market $89,000 Active 128 DOM
11. 2026-06-05
    days on market $89,000 Active 125 DOM
12. 2026-06-03
    days on market $89,000 Active 124 DOM
13. 2026-06-02
    days on market $89,000 Active 123 DOM
14. 2026-06-01
    days on market $89,000 Active 122 DOM
15. 2026-05-31
    days on market $89,000 Active 121 DOM
16. 2026-05-30
    days on market $89,000 Active 120 DOM
17. 2026-04-09
    price $89,000 783-char remark

    Show marketing remark (783 chars)

    Charming 2-Bedroom, 2-Bath Mobile Home on Spacious Corner LotWelcome to this well-maintained 2-bedroom, 2-bath home offering 1,120 sq. ft. of comfortable living space, perfectly situated on a corner lot spanning approximately 0.23 acres. This property features granite countertops, ceramic tile and laminate flooring throughout, and a functional open layout ideal for everyday living.Enjoy the convenience of covered parking and a covered patio, perfect for outdoor relaxation or entertaining. A major highlight of the property is the 40' x 30' metal shop, offering ample space for storage, hobbies, or a workshop.With plenty of outdoor space and great potential, this home is being sold AS-IS, making it an excellent opportunity for buyers looking to add personal touches or invest.

18. 2026-02-13
    price $97,000 783-char remark

    Show marketing remark (783 chars)

    Charming 2-Bedroom, 2-Bath Mobile Home on Spacious Corner LotWelcome to this well-maintained 2-bedroom, 2-bath home offering 1,120 sq. ft. of comfortable living space, perfectly situated on a corner lot spanning approximately 0.23 acres. This property features granite countertops, ceramic tile and laminate flooring throughout, and a functional open layout ideal for everyday living.Enjoy the convenience of covered parking and a covered patio, perfect for outdoor relaxation or entertaining. A major highlight of the property is the 40' x 30' metal shop, offering ample space for storage, hobbies, or a workshop.With plenty of outdoor space and great potential, this home is being sold AS-IS, making it an excellent opportunity for buyers looking to add personal touches or invest.

19. 2026-01-30
    listed $110,000 Active 783-char remark

    Show marketing remark (783 chars)

    Charming 2-Bedroom, 2-Bath Mobile Home on Spacious Corner LotWelcome to this well-maintained 2-bedroom, 2-bath home offering 1,120 sq. ft. of comfortable living space, perfectly situated on a corner lot spanning approximately 0.23 acres. This property features granite countertops, ceramic tile and laminate flooring throughout, and a functional open layout ideal for everyday living.Enjoy the convenience of covered parking and a covered patio, perfect for outdoor relaxation or entertaining. A major highlight of the property is the 40' x 30' metal shop, offering ample space for storage, hobbies, or a workshop.With plenty of outdoor space and great potential, this home is being sold AS-IS, making it an excellent opportunity for buyers looking to add personal touches or invest.

ⓘ 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: $354 · $29/mo
• Projected year-2 tax: $490 · $41/mo
• Expected delta: +$136/yr (+$11/mo · 38.4%)

ⓘ 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 ≥109°F today · 19 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: $12,160
• − Mortgage interest: −$4,985
• − Property taxes: −$354
• − Insurance: −$445
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$2,589
• Taxable income: $1,842
• Est. tax owed @ 24.0%: −$442
• After-tax cash flow: $2,765/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

• 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

-19.1% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $89,000 AcadianaMLS
• 2026-02-13 Price Changed $97,000 AcadianaMLS
• 2026-01-30 Listed $110,000 AcadianaMLS

Property tax history

-0.3%/yr

Latest (2025): $354 · -1.3% YoY. Source: county tax records.