204 Elks Cv · Lafayette, LA 70508

$190,000

4 bd · 4.0 ba · 1,896 sqft · MultiFamily public records · 113 Days on market

Built 1981 6,534 sqft lot $100/sqft · 20% above area Est $159k · 20% over

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity with this tenant-occupied duplex! Each unit offers 2 bedrooms and 2 full bathrooms, providing a strong rental layout for long-term tenants. The property features a brand new roof, four dedicated parking spaces, and fully fenced private yards with a privacy fence for added tenant appeal. Currently generating $1,790 per month in rental income, this is a solid income-producing property ready for a new owner to step in and start collecting rent immediately!

Key facts

• Brand new roof
• Privacy fence
• 6,534 sq ft lot

Tags

• TENANT OCCUPIED DUPLEX
• BRAND NEW ROOF
• DEDICATED PARKING SPACES
• FULLY FENCED PRIVATE YARDS
• PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive. Per door: $325/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 (+1.2%/yr); 464 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• This rent runs 32% of the median local income ($86k/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.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.67%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

• ARV (median comp): $158,965
• List price: $190,000
• Delta: 19.52%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.12×
• Total profit: $6,537
• Equity at exit: $28,330

10-year hold

• IRR: 11.1%
• Equity multiple: 1.80×
• Total profit: $42,776
• Equity at exit: $16,428

Cash invested: $53,200 (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 70508

• Home prices YoY: -34.7%
• Rents YoY: 1.2%
• Active inventory: 464
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $2,321 high
• Mortgage (P&I): −$996
• Tax from tax record: −$108 /mo · $1,290/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $651

Break-even live

Break-even rent $1,498

Max offer price $190,000

Occupancy floor 67%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,322
Total (2 units)			$2,321

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 Highland Oaks Ln Unit A Lafayette, LA	3.0	2.5	1500	$2,750	$1.83	44d	1	0.21mi
104 Avalon St Lafayette, LA	3.0	2.0	1895	$1,800	$0.95	44d	1	0.41mi
207 Harbor Bend Blvd Lafayette, LA	3.0	2.0	1650	$1,595	$0.97	44d	1	0.63mi
304 Barataria Bay Pt Lafayette, LA	3.0	2.5	1712	$1,800	$1.05	44d	1	0.84mi
102 Orchard Park Ave Lafayette, LA	4.0	3.0	2464	$4,200	$1.70	14d	1	0.84mi
303 Barataria Bay Pt Lafayette, LA	3.0	2.5	1556	$1,850	$1.19	14d	1	0.86mi
207 Summerland Key Ln Lafayette, LA	4.0	3.0	2018	$2,350	$1.16	44d	1	0.92mi
210 Polly Ln Lafayette, LA	1.0–3.0	1.0–2.0	1064	$1,686	$1.58	14d	23	1.04mi
122 S Beadle Rd Lafayette, LA	3.0	2.0	1500	$1,500	$1.00	44d	1	1.11mi
13 Heatherstone Dr Lafayette, LA	3.0	2.0	1995	$2,800	$1.40	21d	1	1.18mi
404 Sparrowhawk St Broussard, LA	3.0	2.0	1825	$2,200	$1.21	14d	1	1.31mi
131 Fanny St Lafayette, LA	3.0	2.0	1906	$2,200	$1.15	44d	1	1.31mi

Listing history 23 events

1. 2026-06-18
   days on market $190,000 Active 113 DOM
2. 2026-06-17
   days on market $190,000 Active 112 DOM
3. 2026-06-16
   days on market $190,000 Active 111 DOM
4. 2026-06-15
   days on market $190,000 Active 110 DOM
5. 2026-06-14
   days on market $190,000 Active 108 DOM
6. 2026-06-13
   days on market $190,000 Active 107 DOM
7. 2026-06-10
   days on market $190,000 Active 105 DOM
8. 2026-06-09
   days on market $190,000 Active 104 DOM
9. 2026-06-08
   days on market $190,000 Active 103 DOM
10. 2026-06-07
    days on market $190,000 Active 102 DOM
11. 2026-06-05
    days on market $190,000 Active 99 DOM
12. 2026-06-03
    days on market $190,000 Active 98 DOM
13. 2026-06-02
    days on market $190,000 Active 97 DOM
14. 2026-06-01
    days on market $190,000 Active 96 DOM
15. 2026-05-31
    days on market $190,000 Active 95 DOM
16. 2026-05-30
    days on market $190,000 Active 94 DOM
17. 2026-04-28
    price $190,000 486-char remark

    Show marketing remark (486 chars)

    Great investment opportunity with this tenant-occupied duplex! Each unit offers 2 bedrooms and 2 full bathrooms, providing a strong rental layout for long-term tenants. The property features a brand new roof, four dedicated parking spaces, and fully fenced private yards with a privacy fence for added tenant appeal. Currently generating $1,790 per month in rental income, this is a solid income-producing property ready for a new owner to step in and start collecting rent immediately!

18. 2026-02-27
    status Active 486-char remark

    Show marketing remark (486 chars)

    Great investment opportunity with this tenant-occupied duplex! Each unit offers 2 bedrooms and 2 full bathrooms, providing a strong rental layout for long-term tenants. The property features a brand new roof, four dedicated parking spaces, and fully fenced private yards with a privacy fence for added tenant appeal. Currently generating $1,790 per month in rental income, this is a solid income-producing property ready for a new owner to step in and start collecting rent immediately!

19. 2026-01-30
    status Pending 486-char remark

    Show marketing remark (486 chars)

    Great investment opportunity with this tenant-occupied duplex! Each unit offers 2 bedrooms and 2 full bathrooms, providing a strong rental layout for long-term tenants. The property features a brand new roof, four dedicated parking spaces, and fully fenced private yards with a privacy fence for added tenant appeal. Currently generating $1,790 per month in rental income, this is a solid income-producing property ready for a new owner to step in and start collecting rent immediately!

20. 2026-01-28
    listed $200,000 Active 486-char remark

    Show marketing remark (486 chars)

    Great investment opportunity with this tenant-occupied duplex! Each unit offers 2 bedrooms and 2 full bathrooms, providing a strong rental layout for long-term tenants. The property features a brand new roof, four dedicated parking spaces, and fully fenced private yards with a privacy fence for added tenant appeal. Currently generating $1,790 per month in rental income, this is a solid income-producing property ready for a new owner to step in and start collecting rent immediately!

21. 2022-05-16
    soldstatus $160,000
22. 2022-05-13
    soldstatus $160,000 490-char remark

    Show marketing remark (490 chars)

    Conveniently located near the intersection of Pinhook and Verot School Road- the wood privacy fence makes this home feel like it is in a world of its own- each side has valuted ceiling, ceiling fans, 2 bedrooms, 2 baths, large living room, dining area, separate utility room with washer and dryer connections. Unit 1 has a patio and outside storage builsing. Uniot 2 has a gravel courtyard and a wooden deck. Both units have sliding glass doors in the bedrooms, so the plenty of sunshine.

23. 2021-12-29
    listed $165,000 490-char remark

    Show marketing remark (490 chars)

    Conveniently located near the intersection of Pinhook and Verot School Road- the wood privacy fence makes this home feel like it is in a world of its own- each side has valuted ceiling, ceiling fans, 2 bedrooms, 2 baths, large living room, dining area, separate utility room with washer and dryer connections. Unit 1 has a patio and outside storage builsing. Uniot 2 has a gravel courtyard and a wooden deck. Both units have sliding glass doors in the bedrooms, so the plenty of sunshine.

ⓘ 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: $1,290 · $108/mo
• Projected year-2 tax: $1,290 · $108/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 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,852
• − Mortgage interest: −$10,643
• − Property taxes: −$1,290
• − Insurance: −$950
• − Repairs & maintenance: −$2,228
• − Management: −$2,228
• − Depreciation: −$5,527
• Taxable income: $4,985
• Est. tax owed @ 24.0%: −$1,196
• After-tax cash flow: $6,610/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: 17,263
• Metro: Lafayette, LA
• Population (ZIP): 40,592
• Household income: $86,005
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 1860.0

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 White (75%)
• Race & ethnicity: White 75% Black 13% Two or more races 7% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 20% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -76.28%
• Current HPI: 143.6305
• Rent YoY: ▲ 1.23%
• 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

+15.2% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $190,000 AcadianaMLS
• 2026-02-27 Relisted — AcadianaMLS
• 2026-01-30 Pending — AcadianaMLS
• 2026-01-28 Listed $200,000 AcadianaMLS
• 2022-05-16 Sold (Public Records) $160,000 Public Records
• 2022-05-13 Sold (MLS) $160,000 AcadianaMLS
• 2021-12-29 Listed $165,000 AcadianaMLS

Property tax history

+17.0%/yr

Latest (2025): $1,290 · -1.3% YoY. Source: county tax records.