1124 Schley St · Houma, LA 70360

$85,000

2 bd · 1.0 ba · 864 sqft · Other public records · 65 Days on market

Built 1955 871 sqft lot $98/sqft · 7% below area Est $93k · 8% under

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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
• ARV discount +11.3/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LISTED BELOW APPRAISED VALUE! This 2-bedroom, 1-bath home offers a great opportunity for a starter home or rental unit! Featuring approximately 879sqft of living space, the property includes a spacious living room, functional layout, and an inviting front porch. Situated on a 57' x 97' lot, it provides manageable outdoor space and potential for customization. Centrally located in Houma with convenient access to local amenities, this property is also available as part of a package opportunity with additional properties under the same ownership, offering flexibility to expand or even begin your investment portfolio! Details available upon requests. Schedule your showing today!

Key facts

• 3 parking spots
• Built 1955
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $24 ($289/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 4.0% in Houma — 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 64/100 on livability (#165 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, crime D-, amenities F.
• Terrebonne Parish (other): math 32% / reading 46% proficiency, ranked #23 of 98 in LA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 355 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; solid renter incomes; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($85k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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 $20k; list at $85k implies a 325% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 D 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 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.

Investment metrics

• 1% rule: 1.43% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.72%
• DSCR: 2.01
• GRM: 5.8

CMA / ARV

• ARV (median comp): $92,875
• List price: $85,000
• Delta: -8.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-12,229
• Equity at exit: $12,674

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-8,634
• Equity at exit: $7,349

Cash invested: $23,800 (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 70360

• Rents YoY: 2.8%
• Active inventory: 355
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,212 high
• Mortgage (P&I): −$446
• Tax from tax record: −$25 /mo · $304/yr
• Insurance: −$35
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $24

Break-even live

Break-even rent $1,181

Max offer price $85,000

Occupancy floor 93%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 Saadi St Houma, LA	2.0	1.0	754	$1,300	$1.72	43d	3	0.36mi
1140 Church St Unit B Houma, LA	2.0	1.0	1000	$1,150	$1.15	43d	1	0.48mi
885 High St Houma, LA	2.0	1.0	801	$1,100	$1.37	43d	1	0.49mi
624 Gabasse St Unit 1 Houma, LA	1.0	1.0	750	$975	$1.30	43d	1	0.53mi
100 Chateau Ct Houma, LA	2.0	2.5	988	$1,262	$1.28	43d	5	0.60mi
1300 Laban Ave Houma, LA	1.0–3.0	1.0–1.5	896	$1,106	$1.23	43d	41	0.92mi
179 Garnet St Unit B Houma, LA	3.0	1.0	1100	$1,200	$1.09	43d	1	1.12mi
211 Saint Malo St Houma, LA	3.0	1.0	951	$1,050	$1.10	43d	1	1.42mi

Listing history 27 events

1. 2026-06-19
   days on market $85,000 Active 65 DOM
2. 2026-06-18
   days on market $85,000 Active 64 DOM
3. 2026-06-17
   days on market $85,000 Active 63 DOM
4. 2026-06-16
   days on market $85,000 Active 62 DOM
5. 2026-06-15
   days on market $85,000 Active 61 DOM
6. 2026-06-14
   days on market $85,000 Active 59 DOM
7. 2026-06-13
   days on market $85,000 Active 58 DOM
8. 2026-06-10
   days on market $85,000 Active 56 DOM
9. 2026-06-09
   days on market $85,000 Active 55 DOM
10. 2026-06-08
    days on market $85,000 Active 54 DOM
11. 2026-06-07
    days on market $85,000 Active 53 DOM
12. 2026-06-05
    days on market $85,000 Active 50 DOM
13. 2026-06-03
    days on market $85,000 Active 49 DOM
14. 2026-06-02
    days on market $85,000 Active 48 DOM
15. 2026-06-01
    days on market $85,000 Active 47 DOM
16. 2026-05-31
    days on market $85,000 Active 46 DOM
17. 2026-05-30
    days on market $85,000 Active 45 DOM
18. 2026-04-15
    listed $85,000 Active 683-char remark

    Show marketing remark (683 chars)

    LISTED BELOW APPRAISED VALUE! This 2-bedroom, 1-bath home offers a great opportunity for a starter home or rental unit! Featuring approximately 879sqft of living space, the property includes a spacious living room, functional layout, and an inviting front porch. Situated on a 57' x 97' lot, it provides manageable outdoor space and potential for customization. Centrally located in Houma with convenient access to local amenities, this property is also available as part of a package opportunity with additional properties under the same ownership, offering flexibility to expand or even begin your investment portfolio! Details available upon requests. Schedule your showing today!

19. 2026-04-15
    listed $85,000 Active 683-char remark

    Show marketing remark (683 chars)

    LISTED BELOW APPRAISED VALUE! This 2-bedroom, 1-bath home offers a great opportunity for a starter home or rental unit! Featuring approximately 879sqft of living space, the property includes a spacious living room, functional layout, and an inviting front porch. Situated on a 57' x 97' lot, it provides manageable outdoor space and potential for customization. Centrally located in Houma with convenient access to local amenities, this property is also available as part of a package opportunity with additional properties under the same ownership, offering flexibility to expand or even begin your investment portfolio! Details available upon requests. Schedule your showing today!

20. 2024-12-11
    listed $91,000 Active
21. 2024-12-11
    historical
22. 2024-06-14
    price $91,000
23. 2024-06-07
    status Active
24. 2024-06-01
    historical
25. 2024-05-17
    listed $98,000 Active
26. 2024-05-17
    listed $91,000 Active
27. 1987-10-27
    soldstatus $20,000

ⓘ 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: $304 · $25/mo
• Projected year-2 tax: $468 · $39/mo
• Expected delta: +$163/yr (+$14/mo · 53.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $14,538
• − Mortgage interest: −$4,761
• − Property taxes: −$304
• − Insurance: −$5,544
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$2,473
• Taxable loss: −$869
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $497/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: Terrebonne Parish
• NCES district ID: 2201740
• Math proficiency: 32% ▼ -36.00%
• Reading proficiency: 46% ▼ -30.00%
• Median HH income: $47,612
• Composite: 33.38/100
• National rank: #5480
• State rank: #23 of 98 in LA

Livability — Houma

• Score: 64/100
• State rank: #165
• US rank: #13966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houma, LA
• County: Terrebonne Parish · 57,290 people
• City population: 57,290
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 28,574
• Household income: $84,890
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 811.0

Population outlook (Terrebonne County) Hauer SSP2

• Today (2025): 118,724 people
• By 2030: 120,321 · +1.3%
• By 2040: 121,894 · +2.7%
• By 2050: 121,119 · +2.0%
• By 2075: 117,270 · -1.2%
• By 2100: 107,544 · -9.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 24% Armenian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Terrebonne

• 2024 margin: Solid R (+51.8) · D 23.5% · R 75.3% · Other 1.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -40.9pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+50.0 2016: R+48.4 2012: R+41.2 2008: R+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.43%
• Current HPI: 138.5984
• Rent YoY: ▲ 2.82%
• Metro: Houma-Thibodaux, 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

+325.0% since first listed

10 events — show timeline

• 2026-04-15 Listed $85,000 GBRMLS
• 2026-04-15 Listed $85,000 AcadianaMLS
• 2024-12-11 Listed $91,000 GBRMLS
• 2024-12-11 Delisted — GBRMLS
• 2024-06-14 Price Changed $91,000 GBRMLS
• 2024-06-07 Relisted — GBRMLS
• 2024-06-01 Delisted — GBRMLS
• 2024-05-17 Listed $91,000 AcadianaMLS
• 2024-05-17 Listed $98,000 GBRMLS
• 1987-10-27 Sold (Public Records) $20,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $304 · -2.3% YoY. Source: county tax records.