30142 & 30144 Highway 23

Empire, LA 70083

$170,000A-

6 bd · 4.0 ba · 2,432 sqft · Built 2016 · SingleFamily · Active · 401 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,967/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$710
• HOA: −$0
• Vac / Maint / Mgmt: −$623
• Net cashflow: $742/mo
• Annual: $8,908/yr
• Cap rate: 14.54%
• Cash-on-cash: 29.47%
• DSCR: 2.31
• 1% rule: 1.75%
• Cash to close: $47,600

Investor read

• This is a 6-bed/4.0-bath single-family listed at $170k. Condition is rated good.
• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• It's been on market 401 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.0% local appreciation)).
• Location reads 56/100 on livability (#335 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Zoned schools: Boothville-Venice Elementary School (math 37% / reading 57%, grade D-, #151 of 646 statewide, top 24%, 288 students, 100% FRL); Belle Chasse Middle School (math 40% / reading 44%, grade D-, #59 of 218 statewide, top 27%, 721 students, 62% FRL); South Plaquemines High School (math 18% / reading 43%, grade F, #124 of 265 statewide, top 47%, 412 students, 100% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 49 active listings in the ZIP; 88 units permitted in Plaquemines Parish in 2024 (0 in 5+ unit buildings).
• Plaquemines County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 401 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.