1136 East Camellia Dr

Thibodaux, LA 70301

$188,000D

3 bd · 1.0 ba · 1,138 sqft · Built 1985 · Other · Active · 301 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,428/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $-7/mo
• Annual: $-87/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.17%
• DSCR: 0.99
• 1% rule: 0.76%
• Cash to close: $52,640

Investor read

• This is a 3-bed/1.0-bath other listed at $188k.
• At list price, monthly cash flow is $-7 ($-87/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (24.0% below list).
• It's been on market 301 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (24.0% below list) — sets the bar for 1% rule.
• 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.
• Location reads 84/100 on livability (#2 in LA, #723 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime C-, employment F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 513 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.2% vs local median 3.8% in Thibodaux — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 301 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• 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 A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.