107 Logan St

Scott, LA 70506

$209,000C+

3 bd · 2.0 ba · 1,685 sqft · Built 1985 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,087/mo
• Mortgage (P&I): −$1,096
• Tax + insurance: −$200
• HOA: −$20
• Vac / Maint / Mgmt: −$438
• Net cashflow: $333/mo
• Annual: $3,999/yr
• Cap rate: 8.21%
• Cash-on-cash: 6.83%
• DSCR: 1.30
• 1% rule: 1.00%
• Cash to close: $58,520

Investor read

• This is a 3-bed/2.0-bath single-family listed at $209k.
• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (0.1% below list).
• It's been on market 33 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• 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 66/100 on livability (#116 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime F, amenities F, commute F.
• Lafayette Parish (urban): math 38% / reading 46% proficiency, ranked #19 of 98 in LA (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Judice Middle School (math 26% / reading 36%, grade F, #110 of 218 statewide, top 51%, 463 students, 61% FRL); Acadiana High School (math 31% / reading 29%, grade F, #125 of 265 statewide, top 47%, 1,813 students, 56% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 404 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,585 units permitted in Lafayette Parish in 2024 (10 in 5+ unit buildings).
• Lafayette County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $157k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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.
• Cap rate 8.2% vs local median 4.7% in Scott — 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.
• This rent runs 44% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.