| Address | 712 Harrell Drive, Lafayette, LA 70503 |
| MLS Number | 2600001430 |
| Subdivision / Parish | Broadmoor / Lafayette (Area G2) |
| Current List Price | $229,000 ($123.12/sqft) |
| Original List Price | $249,500 |
| Living Area | 1,860 sq ft |
| Bedrooms / Baths | 4 BR / 2 full + 1 half |
| Year Built | ~1970 (51 - 75 Years) |
| Lot Size | 0.23 acre |
| Cumulative DOM | 118 days |
| Flood Zone | Zone X (provisional) — minimal hazard (confirmation pending) |
| Address | Status | SqFt | BR/BA | $/SqFt | Sold/List | DOM | SP/LP |
|---|---|---|---|---|---|---|---|
| 712 Harrell Drive (SUBJECT) | SUBJECT | 1,860 | 4/2.1 | $123.12 | $229,000 | 118 | — |
| 418 Broadmoor Boulevard | Sold | 1,862 | 4/2 | $135.66 | $252,600 | 382 | 97% |
| 820 Genevieve Drive | Sold | 1,842 | 3/2 | $111.29 | $205,000 | 66 | 100% |
| 612 Broadmoor Boulevard | Sold | 1,830 | 4/2 | $158.47 | $290,000 | 36 | 102% |
| 503 Elmwood Drive | Sold | 1,829 | 4/2 | $125.75 | $230,000 | 265 | 96% |
| 205 Renwood Circle | Sold | 1,903 | 3/2 | $149.76 | $285,000 | 6 | 102% |
| 716 Alice Drive | Sold | 1,805 | 4/2 | $149.58 | $270,000 | 76 | 98% |
| 206 Elmwood Drive | Sold | 1,917 | 3/2 | $135.63 | $260,000 | 29 | 97% |
| 409 Orangewood Drive | Sold | 1,803 | 3/2 | $158.62 | $286,000 | 55 | 88% |
| 221 Timothy Drive | Sold | 1,800 | 3/2 | $101.11 | $182,000 | 55 | 96% |
| 124 Maplewood Drive | Sold | 1,920 | 3/2 | $135.42 | $260,000 | 9 | 100% |
| 701 Gerald Drive | Sold | 1,937 | 4/2 | $118.74 | $230,000 | 51 | 98% |
| 309 Broadmoor Boulevard | Sold | 1,772 | 3/2 | $140.24 | $248,500 | 1 | 100% |
| 339 Gerald Drive | Pending | 1,950 | 5/2 | $112.82 | $220,000 | 4 | — |
| 504 Gerald Drive | Pending | 1,480 | 3/2 | $141.22 | $209,000 | 55 | — |
| 416 Orangewood Drive | Pending | 2,245 | 4/2 | $113.59 | $255,000 | 202 | — |
| 101 Duncan Drive | Pending | 2,399 | 3/2.1 | $124.64 | $299,000 | 60 | — |
| 417 Elmwood Drive | Active | 2,074 | 4/2 | $139.83 | $290,000 | 34 | — |
| 329 Alice Drive | Active | 1,643 | 3/2 | $118.69 | $195,000 | 311 | — |
| 362 Orangewood Drive | Active | 2,050 | 3/2 | $136.59 | $280,000 | 807 | — |
| 210 Gerald Drive | Active | 1,770 | 4/2 | $133.33 | $236,000 | 56 | — |
| 400 Alice Drive | Expired | 2,205 | 3/3 | $177.28 | $390,900 | 167 | — |
| 422 Broadmoor Boulevard | Expired | 1,983 | 4/2 | $158.85 | $315,000 | 190 | — |
| 813 Alice Drive | Expired | 1,616 | 4/2 | $126.86 | $205,000 | 165 | — |
| Scenario | $/SqFt | Value | Weight | Weighted |
|---|---|---|---|---|
| Conservative Cohort floor — softer/dated comps (218 Gerald $110, 820 Genevieve $111, 410 Elmwood $112) | $122 | $226,920 | 30% | $68,076 |
| Midpoint (recommended) The $230K cluster center — 503 Elmwood, 701 Gerald and 210 Gerald all closed at exactly $230,000 | $127 | $236,220 | 50% | $118,110 |
| Upper Range Updated-condition premium supported by 206 Elmwood ($135.63) and the renovated cohort | $133 | $247,380 | 20% | $49,476 |
| CALCULATED OPINION OF VALUE | 100% | $235,662 |
Cohort homes are closing at 97–100% of asking, several in single-digit days. The 118 CDOM traces to the $249,500 launch, not the current price.
At $123.12/sqft the subject is offered beneath the proven $230K clearing price set by three near-identical homes — with updated condition placing it upper-middle of the band.
The home at 712 Harrell Drive occupies a settled, well-understood position within Broadmoor — one of Lafayette's most established interior neighborhoods. The valuation question here is not a difficult one. A deep and active comparable record, drawn from the immediate streets surrounding the subject, points to a tight and defensible range. The current list price of $229,000 sits at — and arguably just beneath — the floor of that range.
It would be a mistake to read the 118 days of cumulative market time as evidence of an overpriced home. The comparable record says the opposite. Updated homes of this size in Broadmoor are clearing at 97 to 100 percent of asking, and several have done so in single-digit days. The subject's market time traces almost entirely to its original $249,500 launch — a number the market quietly declined. Two disciplined corrections later, the price now rests where proven buyers have repeatedly transacted.
At $123.12 per square foot, the subject is positioned below the size-comparable cohort, which has been clearing in the $125 to $135 range. Three nearly identical homes — 503 Elmwood (1,829 sq ft), 701 Gerald (1,937 sq ft) and 210 Gerald (1,770 sq ft) — each closed at exactly $230,000. The subject is currently offered beneath that proven clearing price, with updated kitchen and baths that place it in the upper-middle of the condition spectrum rather than the floor.
The home's split-wing layout, with three bedrooms and a private guest-side half bath separated from the primary, is a genuine functional advantage that several cohort comps lack. Combined with the refreshed baths, upgraded open kitchen, and oversized covered patio, the property presents as move-in ready in a market where buyers are paying full value for turnkey condition and discounting deferred maintenance.
The broader signal is a market that rewards correct pricing rather than aggressive pricing. Cohort sell-through is healthy, sale-to-list discipline is high, and the comparable evidence has shown no softening at the subject's size and condition. Against a 6.5 percent rate environment that has lengthened market time across every Lafayette price band, the subject is now positioned to transact.
In my professional judgment, the defensible market value of 712 Harrell Drive is $235,000, within a supportable range of $230,000 to $240,000. The current $229,000 list price is therefore fair — and modestly conservative — relative to the proven comparable record. The recommendation is to hold firm: the home is priced to perform, and the data does not support a further reduction.
| Indicator | Current Reading | Interpretation |
|---|---|---|
| Inventory (subject cohort) | 8 active in size band | Balanced; not oversupplied |
| Sale-to-List (cohort) | 9717% of asking | Buyers paying fair value |
| Median Sold $/SqFt (cohort) | $129.94 | Subject listed below at $123.12 |
| Days on Market (cohort avg) | ~86 days | Correctly priced homes move |
| 30-Yr Fixed Mortgage | ~6.49% (Freddie Mac) | Lengthens DOM market-wide |
| Broadmoor Median (12 mo.) | ~$237K, +3% YoY | Stable, modestly appreciating |
| Pending Activity | 4 under contract in cohort | Live demand at this price band |
| Subject Position | $229K list vs $235K opinion | Priced ~2.6% under fair value |
712 Harrell Drive falls within the Lafayette Parish School System's Broadmoor attendance zone, a primary driver of demand for this neighborhood.
| Level | School | Rating | Distance |
|---|---|---|---|
| Elementary | Broadmoor Elementary | 7/10 GreatSchools | ~0.5 mi |
| Middle | Edgar Martin Middle | 7/10 GreatSchools | Zoned |
| High | Lafayette High | 7/10 GreatSchools | Zoned |
I, James Keaty, Broker, certify that the opinions expressed in this Broker Price Opinion are based on my independent analysis of available market data as of 2026-06-30, reflect my professional judgment as a Louisiana-licensed broker, and were not influenced by any party's predetermined conclusion. This is a Broker Price Opinion, not a certified appraisal.
