3352 West Main St · Gray, LA 70359

$89,900

1 bd · 1.0 ba · 744 sqft · SingleFamily · 772 Days on market

Built 1899 871 sqft lot $121/sqft · 24% below area Est $119k · 24% under

---

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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

Key facts

• <fireplace>
• <cottage style home>
• <full bathroom>

Tags

• <COTTAGE STYLE HOME>
• <FIREPLACE>
• <KITCHEN/DINING ROOM COMBO>
• <LOTS OF CABINET SPACE>
• <FULL BATHROOM>
• <SHOWER/BATHTUB COMBO>

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 3.4% in Gray — 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 62/100 on livability (#222 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools B, housing B; Watch: crime F, amenities F, commute 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: 112 active listings in the ZIP; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 772 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 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 $40k; list at $90k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 772 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.35% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.63%
• DSCR: 1.87
• GRM: 6.2

CMA / ARV

• ARV (median comp): $118,544
• List price: $89,900
• Delta: -24.16%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3249 West Main St	0.21mi	2/1.0 (+1)	821 (+10%)	1mo	$160,000	$195	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 11.6%
• Equity multiple: 1.46×
• Total profit: $11,629
• Equity at exit: $13,404

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $43,783
• Equity at exit: $7,773

Cash invested: $25,172 (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 70359

• Home prices YoY: -26.8%
• Active inventory: 112
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$37 /mo · $450/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $412

Break-even live

Break-even rent $692

Max offer price $89,900

Occupancy floor 61%

Sensitivity live

Price	-10% $463	-5% $437	+0% $412	+5% $386	+10% $361
Rent	-10% $316	-5% $364	+0% $412	+5% $460	+10% $508
Rate	-1.0pp $457	-0.5pp $435	base $412	+0.5pp $388	+1.0pp $365

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $89,900 Active 772 DOM
2. 2026-06-19
   days on market $89,900 Active 770 DOM
3. 2026-06-18
   days on market $89,900 Active 769 DOM
4. 2026-06-17
   days on market $89,900 Active 768 DOM
5. 2026-06-16
   days on market $89,900 Active 767 DOM
6. 2026-06-15
   days on market $89,900 Active 766 DOM
7. 2026-06-14
   days on market $89,900 Active 764 DOM
8. 2026-06-13
   days on market $89,900 Active 763 DOM
9. 2026-06-10
   days on market $89,900 Active 761 DOM
10. 2026-06-09
    days on market $89,900 Active 760 DOM
11. 2026-06-08
    days on market $89,900 Active 759 DOM
12. 2026-06-07
    days on market $89,900 Active 758 DOM
13. 2026-06-05
    days on market $89,900 Active 755 DOM
14. 2026-06-03
    days on market $89,900 Active 754 DOM
15. 2026-06-02
    days on market $89,900 Active 753 DOM
16. 2026-06-01
    days on market $89,900 Active 752 DOM
17. 2026-05-31
    days on market $89,900 Active 751 DOM
18. 2026-05-30
    days on market $89,900 Active 750 DOM
19. 2025-10-20
    price $89,900 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

20. 2025-10-20
    price $89,900 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

21. 2025-08-13
    price $92,000 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

22. 2025-08-13
    price $92,000 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

23. 2025-07-14
    status Active 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

24. 2025-06-30
    status Pending 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

25. 2025-04-23
    price $89,900 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

26. 2025-04-23
    price $89,900 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

27. 2024-12-11
    listed $92,500 Active 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

28. 2024-12-11
    historical 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

29. 2024-04-24
    listed $92,500 Active 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

30. 2024-04-24
    listed $92,500 Active 451-char remark

    Show marketing remark (451 chars)

    This unique cottage style home has a cozy living room with a double sided fireplace (inoperable) which adds character to this unique home, kitchen/dining room combo with lots of cabinet space, full bathroom with a shower/bathtub combo, laundry room, and spacious bedroom. The backyard does have a shed for extra storage. Brand new sewage treatment plant. The fireplace is non-operable. It is for show only, to add character to his cottage-style house.

31. 2000-11-28
    soldstatus $39,500

ⓘ 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: $450 · $37/mo
• Projected year-2 tax: $494 · $41/mo
• Expected delta: +$45/yr (+$4/mo · 10.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 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: $14,554
• − Mortgage interest: −$5,036
• − Property taxes: −$450
• − Insurance: −$450
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$2,615
• Taxable income: $3,675
• Est. tax owed @ 24.0%: −$882
• After-tax cash flow: $4,059/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 — Gray

• Score: 62/100
• State rank: #222
• US rank: #16997

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gray, LA
• City population: 9,472
• Population (ZIP): 9,472

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 30% Two or more races 7% Hispanic / Latino 7% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 12% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 4% Spanish 1% Vietnamese 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: ▼ -46.42%
• Current HPI: 126.6099
• 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

+127.6% since first listed

13 events — show timeline

• 2025-10-20 Price Changed $89,900 GBRMLS
• 2025-10-20 Price Changed $89,900 AcadianaMLS
• 2025-08-13 Price Changed $92,000 AcadianaMLS
• 2025-08-13 Price Changed $92,000 GBRMLS
• 2025-07-14 Relisted — GBRMLS
• 2025-06-30 Pending — GBRMLS
• 2025-04-23 Price Changed $89,900 AcadianaMLS
• 2025-04-23 Price Changed $89,900 GBRMLS
• 2024-12-11 Listed $92,500 GBRMLS
• 2024-12-11 Delisted — GBRMLS
• 2024-04-24 Listed $92,500 AcadianaMLS
• 2024-04-24 Listed $92,500 GBRMLS
• 2000-11-28 Sold (Public Records) $39,500 Public Records

Property tax history

+1.0%/yr

Latest (2025): $450 · -5.2% YoY. Source: county tax records.