321 S Academy St · Opelousas, LA 70570

$277,900

8 bd · 4.0 ba · 5,000 sqft · MultiFamily · 304 Days on market

0.44 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great Multi-Family Investment Opportunity! This income producing commercial corner is located right on the corner of S Academy & 190 in the historic district of Opelousas near Lowe's Home Improvement. One structure is a 5-Plex which is 100% occupied. The second building is a vacant 7400 Sq.Ft structure which was once used as a lounge/restaurant. The tenants are all long term of 8+ years. Schedule your appointment today!

Key facts

• Under-market rentals
• Prime location
• Corner lot

Tags

• PRIME LOCATION
• CORNER LOT
• AMPLE SPACE FOR EXPANSION
• UNDER-MARKET RENTALS
• EXPANSION POSSIBILITIES

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $278k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $278k).
• Recommended offer: $245k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 4.0% in Opelousas — 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 63/100 on livability (#187 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• St. Landry Parish (town): math 20% / reading 33% proficiency, ranked #54 of 98 in LA (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Opelousas Middle School (math 5% / reading 16%, grade F, #197 of 218 statewide, top 91%, 246 students, 92% FRL); Opelousas Senior High School (math 11% / reading 18%, grade F, #224 of 265 statewide, top 86%, 840 students, 77% FRL).
• Zoned-school proficiency averages 12% at this address vs 26% district-wide (-14 pts) — the specific schools serving this property underperform the St. Landry Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 309 active listings in the ZIP; 142 units permitted in St. Landry Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• St. Landry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $130k; list at $278k implies a 114% gain — meaningful room to come down on a strong offer.

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 $244,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 304 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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 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: 1.31% ✓
• Cap rate: 11.49%
• Cash-on-cash: 18.55%
• DSCR: 1.83
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.3%
• Equity multiple: 1.40×
• Total profit: $31,492
• Equity at exit: $41,436

10-year hold

• IRR: 19.3%
• Equity multiple: 2.62×
• Total profit: $125,696
• Equity at exit: $24,028

Cash invested: $77,812 (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 70570

• Home prices YoY: -34.7%
• Active inventory: 309
• Price-to-rent: 25.4×

Monthly cashflow live

• Estimated rent: $3,646 medium
• Mortgage (P&I): −$1,457
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $1,203

Break-even live

Break-even rent $2,123

Max offer price $277,900

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,644
Total (4 units)			$3,646

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: $69,475
• Closing costs: $8,337
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-13
   status Pending
2. 2026-03-03
   status Active
3. 2026-03-03
   price $277,900
4. 2025-06-25
   status Active
5. 2025-06-05
   status Pending
6. 2025-05-21
   status Active
7. 2025-05-21
   status Pending
8. 2025-05-19
   listed $279,000 Active
9. 2018-04-16
   soldstatus $130,000 427-char remark

   Show marketing remark (427 chars)

   Great Multi-Family Investment Opportunity! This income producing commercial corner is located right on the corner of S Academy & 190 in the historic district of Opelousas near Lowe's Home Improvement. One structure is a 5-Plex which is 100% occupied. The second building is a vacant 7400 Sq.Ft structure which was once used as a lounge/restaurant. The tenants are all long term of 8+ years. Schedule your appointment today!

10. 2018-01-29
    listed $194,000 427-char remark

    Show marketing remark (427 chars)

    Great Multi-Family Investment Opportunity! This income producing commercial corner is located right on the corner of S Academy & 190 in the historic district of Opelousas near Lowe's Home Improvement. One structure is a 5-Plex which is 100% occupied. The second building is a vacant 7400 Sq.Ft structure which was once used as a lounge/restaurant. The tenants are all long term of 8+ years. Schedule your appointment today!

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $1,528 · $127/mo
• Expected delta: +$278/yr (+$23/mo · 22.2%)

ⓘ 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 ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,752
• − Mortgage interest: −$15,567
• − Property taxes: −$1,251
• − Insurance: −$1,390
• − Repairs & maintenance: −$3,500
• − Management: −$3,500
• − Depreciation: −$8,084
• Taxable income: $10,460
• Est. tax owed @ 24.0%: −$2,510
• After-tax cash flow: $11,925/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: St. Landry Parish
• NCES district ID: 2201560
• Math proficiency: 20% ▼ -43.00%
• Reading proficiency: 33% ▼ -35.00%
• Median HH income: $32,635
• Composite: 21.59/100
• National rank: #8303
• State rank: #54 of 98 in LA

Livability — Opelousas

• Score: 63/100
• State rank: #187
• US rank: #14928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Opelousas, LA
• Population (ZIP): 37,188

Population outlook (St. Landry County) Hauer SSP2

• Today (2025): 83,114 people
• By 2030: 82,110 · -1.2%
• By 2040: 79,445 · -4.4%
• By 2050: 75,855 · -8.7%
• By 2075: 65,684 · -21.0%
• By 2100: 51,739 · -37.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 55% White 37% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Lithuanian 8%
• Foreign-born: 1% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 5% Spanish 3%

Political lean MEDSL · St. Landry

• 2024 margin: R (+18.8) · D 40.0% · R 58.9% · Other 1.1%
• 2008→2024 swing: -15.6pp toward R · 2008: -3.2pp · 2024: -18.8pp
• All cycles: 2024: R+18.8 2020: R+14.1 2016: R+11.9 2012: R+4.3 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.38%
• Current HPI: 98.4256
• Rent YoY: —
• Metro: —
• 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

+43.2% since first listed

10 events — show timeline

• 2026-04-13 Pending — AcadianaMLS
• 2026-03-03 Relisted — AcadianaMLS
• 2026-03-03 Price Changed $277,900 AcadianaMLS
• 2025-06-25 Relisted — AcadianaMLS
• 2025-06-05 Pending — AcadianaMLS
• 2025-05-21 Relisted — AcadianaMLS
• 2025-05-21 Pending — AcadianaMLS
• 2025-05-19 Listed $279,000 AcadianaMLS
• 2018-04-16 Sold (MLS) $130,000 AcadianaMLS
• 2018-01-29 Listed $194,000 AcadianaMLS

Property tax history

+3.6%/yr

Latest (2025): $1,251 · +0.0% YoY. Source: county tax records.