102 N Cunningham St · Rayne, LA 70578

$185,000

4 bd · 2.0 ba · 1,850 sqft · SingleFamily · 202 Days on market

4,791 sqft lot Est $170k · 9% over

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Why this score? — see what drove the D+ 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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• ARV discount +3.6/15.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely renovated home with new electrical and new plumbing (pex) under the new sheetrock walls. Guys if you love turn-of -the-century homes with modern day conveniences check out this one. The love and care that went into preserving the home's elegant charm allows you to add your own expressions to make it your own. Gas appliances include stove and central furnace. Master bath and bedroom downstairs while the 2nd level boasts of a bathroom and 3 bedrooms with an extended patio/porch included in the home square footage and heating and cooling. Let your imagination run wild and have fun. 2010: central air/heat installed; and electric water heater too.

Key facts

• Gas appliances
• New plumbing
• Central furnace

Tags

• NEW ELECTRICAL
• NEW PLUMBING
• GAS APPLIANCES
• CENTRAL FURNACE
• EXTENDED PATIO

Property features AI

Exterior

• Parking: Open parking
• Utilities: Public sewer; Electric service from city
• Home design: Single family residence; Located on a city street (paved)
• Construction: Wood siding and frame construction; Composition roof
• Exterior features: Privacy wood fencing; Covered, enclosed, screened porch

Interior

• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air and multiple cooling units
• Interior features: High ceilings; Wood flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/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 $171k (7.8% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.9% in Rayne — 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 75/100 on livability (#18 in LA, #3,895 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Acadia Parish (rural): math 32% / reading 44% proficiency, ranked #28 of 98 in LA (top 29%) — 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.
• Zoned schools: South Rayne Elementary School (math 30% / reading 30%, grade F, #328 of 646 statewide, top 51%, 201 students, 80% FRL); Armstrong Middle School (math 15% / reading 38%, grade F, #135 of 218 statewide, top 62%, 340 students, 79% FRL); Rayne High School (math 30% / reading 47%, grade F, #88 of 265 statewide, top 33%, 640 students, 63% FRL).
• Market conditions: 97 active listings in the ZIP; 137 units permitted in Acadia Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $185k implies a 362% 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 8.01%
• Cash-on-cash: 6.13%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $170,200
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 E Louisiana Ave	0.02mi	3/2.0 (-1)	1,893 (+2%)	11mo	$175,000	$92	81
511 S Cunningham St	0.35mi	3/2.0 (-1)	1,837 (-1%)	12mo	$115,000	$63	67
410 S Cunningham St	0.28mi	4/2.0	1,777 (-4%)	18mo	$209,900	$118	65
409 N Polk St	0.29mi	3/2.0 (-1)	1,950 (+5%)	11mo	$210,000	$108	63
807 N Polk St	0.50mi	3/2.0 (-1)	1,944 (+5%)	4mo	$155,000	$80	60
422 Karen Dr	0.44mi	3/2.5 (-1)	1,772 (-4%)	14mo	$165,000	$93	54
806 N Polk St	0.51mi	3/2.0 (-1)	1,685 (-9%)	6mo	$174,000	$103	51
600 N Adams Ave	0.38mi	3/1.5 (-1)	2,121 (+15%)	11mo	$100,000	$47	42
304 E C St	0.45mi	3/2.0 (-1)	1,573 (-15%)	13mo	$217,000	$138	38
805 S Parkerson St	0.54mi	3/2.0 (-1)	2,100 (+14%)	12mo	$178,000	$85	37
505 3rd St	0.47mi	3/2.0 (-1)	1,588 (-14%)	19mo	$140,000	$88	33

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-13,209
• Equity at exit: $27,584

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $9,827
• Equity at exit: $15,995

Cash invested: $51,800 (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 70578

• Active inventory: 97
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,706 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$36 /mo · $426/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $265

Break-even live

Break-even rent $1,371

Max offer price $185,000

Occupancy floor 79%

Sensitivity live

Price	-10% $369	-5% $317	+0% $265	+5% $212	+10% $160
Rent	-10% $130	-5% $197	+0% $265	+5% $332	+10% $400
Rate	-1.0pp $358	-0.5pp $312	base $265	+0.5pp $217	+1.0pp $168

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $185,000 Active 202 DOM
2. 2026-06-21
   days on market $185,000 Active 201 DOM
3. 2026-06-18
   days on market $185,000 Active 199 DOM
4. 2026-06-17
   days on market $185,000 Active 198 DOM
5. 2026-06-16
   days on market $185,000 Active 197 DOM
6. 2026-06-15
   days on market $185,000 Active 196 DOM
7. 2026-06-13
   days on market $185,000 Active 194 DOM
8. 2026-06-12
   days on market $185,000 Active 193 DOM
9. 2026-06-09
   days on market $185,000 Active 190 DOM
10. 2026-06-08
    days on market $185,000 Active 189 DOM
11. 2026-06-07
    days on market $185,000 Active 188 DOM
12. 2026-06-07
    days on market $185,000 Active 187 DOM
13. 2026-06-04
    days on market $185,000 Active 184 DOM
14. 2026-06-02
    days on market $185,000 Active 183 DOM
15. 2026-06-01
    days on market $185,000 Active 182 DOM
16. 2026-05-31
    days on market $185,000 Active 181 DOM
17. 2026-05-31
    days on market $185,000 Active 180 DOM
18. 2026-03-31
    price $185,000
19. 2025-12-01
    listed $199,500 Active
20. 2025-05-03
    price $159,000
21. 2025-04-02
    price $170,000
22. 2025-02-19
    price $185,000
23. 2025-01-14
    listed $200,000 Active
24. 2008-12-09
    soldstatus $40,000
25. 2007-01-04
    soldstatus

ⓘ 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: $426 · $36/mo
• Projected year-2 tax: $1,017 · $85/mo
• Expected delta: +$591/yr (+$49/mo · 138.8%)

ⓘ 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 9/10 Extreme 7 d/yr ≥109°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: $20,469
• − Mortgage interest: −$10,363
• − Property taxes: −$426
• − Insurance: −$925
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$5,382
• Taxable income: $98
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $3,154/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: Acadia Parish
• NCES district ID: 2200030
• Math proficiency: 32% ▼ -39.00%
• Reading proficiency: 44% ▼ -32.00%
• Median HH income: $38,012
• Composite: 31.65/100
• National rank: #5929
• State rank: #28 of 98 in LA

Livability — Rayne

• Score: 75/100
• State rank: #18
• US rank: #3895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rayne, LA
• City population: 16,279
• Population (ZIP): 16,279

Population outlook (Acadia County) Hauer SSP2

• Today (2025): 63,846 people
• By 2030: 64,141 · +0.5%
• By 2040: 63,922 · +0.1%
• By 2050: 62,263 · -2.5%
• By 2075: 56,507 · -11.5%
• By 2100: 46,316 · -27.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 21% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 15%
• Foreign-born: 0%
• Languages at home: 91% English-only · French/Haitian/Cajun 8% Spanish 1%

Political lean MEDSL · Acadia

• 2024 margin: Solid R (+64.0) · D 17.6% · R 81.5%
• 2008→2024 swing: -18.3pp toward R · 2008: -45.7pp · 2024: -64.0pp
• All cycles: 2024: R+64.0 2020: R+60.3 2016: R+56.7 2012: R+49.8 2008: R+45.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.19%
• Current HPI: 118.9619
• 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

+362.5% since first listed

8 events — show timeline

• 2026-03-31 Price Changed $185,000 AcadianaMLS
• 2025-12-01 Listed $199,500 AcadianaMLS
• 2025-05-03 Price Changed $159,000 AcadianaMLS
• 2025-04-02 Price Changed $170,000 AcadianaMLS
• 2025-02-19 Price Changed $185,000 AcadianaMLS
• 2025-01-14 Listed $200,000 AcadianaMLS
• 2008-12-09 Sold (Public Records) $40,000 Public Records
• 2007-01-04 Sold (Public Records) — Public Records

Property tax history

-1.8%/yr

Latest (2025): $426 · +0.3% YoY. Source: county tax records.