1301 & 1301 1/2 Bourg St · Houma, LA 70364

$140,000

None bd · None ba · 3,987 sqft · MultiFamily · 513 Days on market

Poor condition 7,405 sqft lot $35/sqft · 44% below area Est $248k · 44% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This property has 3 units, 2 with 2 bedrooms and 1 bath, and 1 with 1 bedroom 1 bath. 2 unites already have tenants in place. Put your personal mark on this great investment. Call your REALTOR for a viewing today!

Key facts

• 7,405 sq ft lot
• 3 parking spots
• Listed 513 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $140k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.6% 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.
• Zoned schools: Southdown Elementary School (math 20% / reading 36%, grade F, #355 of 646 statewide, top 55%, 504 students, 76% FRL); Houma Junior High School (math 23% / reading 49%, grade F, #84 of 218 statewide, top 41%, 729 students, 56% FRL); Terrebonne High School (math 38% / reading 41%, grade F, #80 of 265 statewide, top 32%, 1,386 students, 49% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: 313 active listings in the ZIP; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).
• At $3,634/mo this rent would consume 63% of the median local household income ($69k/yr) (locally 387% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 513 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 513 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.60% ✓
• Cap rate: 22.61%
• Cash-on-cash: 58.27%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

• ARV (median comp): $247,818
• List price: $140,000
• Delta: -43.51%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 42.4%
• Equity multiple: 2.83×
• Total profit: $71,690
• Equity at exit: $20,874

10-year hold

• IRR: 48.6%
• Equity multiple: 5.72×
• Total profit: $184,830
• Equity at exit: $12,105

Cash invested: $39,200 (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 70364

• Active inventory: 313
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,634 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $1,477

Break-even live

Break-even rent $1,765

Max offer price $140,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,574	-5% $1,525	+0% $1,477	+5% $1,428	+10% $1,380
Rent	-10% $1,190	-5% $1,333	+0% $1,477	+5% $1,620	+10% $1,764
Rate	-1.0pp $1,547	-0.5pp $1,512	base $1,477	+0.5pp $1,441	+1.0pp $1,404

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,536
1× unit	1	1	$1,099
Total (3 units)			$3,634

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $140,000 Active 513 DOM
2. 2026-06-19
   days on market $140,000 Active 511 DOM
3. 2026-06-18
   days on market $140,000 Active 510 DOM
4. 2026-06-17
   days on market $140,000 Active 509 DOM
5. 2026-06-16
   days on market $140,000 Active 508 DOM
6. 2026-06-15
   days on market $140,000 Active 507 DOM
7. 2026-06-14
   days on market $140,000 Active 505 DOM
8. 2026-06-13
   days on market $140,000 Active 504 DOM
9. 2026-06-10
   days on market $140,000 Active 502 DOM
10. 2026-06-09
    days on market $140,000 Active 501 DOM
11. 2026-06-08
    days on market $140,000 Active 500 DOM
12. 2026-06-07
    days on market $140,000 Active 499 DOM
13. 2026-06-05
    days on market $140,000 Active 496 DOM
14. 2026-06-03
    days on market $140,000 Active 495 DOM
15. 2026-06-02
    days on market $140,000 Active 494 DOM
16. 2026-06-01
    days on market $140,000 Active 493 DOM
17. 2026-05-31
    days on market $140,000 Active 492 DOM
18. 2026-05-30
    days on market $140,000 Active 491 DOM
19. 2025-01-25
    listed $140,000 Active 213-char remark

    Show marketing remark (213 chars)

    This property has 3 units, 2 with 2 bedrooms and 1 bath, and 1 with 1 bedroom 1 bath. 2 unites already have tenants in place. Put your personal mark on this great investment. Call your REALTOR for a viewing today!

20. 2025-01-24
    listed $140,000 Active 213-char remark

    Show marketing remark (213 chars)

    This property has 3 units, 2 with 2 bedrooms and 1 bath, and 1 with 1 bedroom 1 bath. 2 unites already have tenants in place. Put your personal mark on this great investment. Call your REALTOR for a viewing today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 22 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: $43,608
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$5,818
• − Repairs & maintenance: −$3,489
• − Management: −$3,489
• − Depreciation: −$4,073
• Taxable income: $16,797
• Est. tax owed @ 24.0%: −$4,031
• After-tax cash flow: $13,690/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.

Condition & rehab AI · 3 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance to bring it up to a livable condition. Immediate focus should be on exterior siding, roof, and landscaping to improve its resale and rental value.

Repairs flagged

• Major exterior siding — Significant peeling and damage
• Major roof — Visible signs of wear and tear
• Major landscaping — Overgrown vegetation needs trimming

Value-add opportunities

• Both landscaping and exterior maintenance — Improves curb appeal and property value
• Both exterior siding and roof repairs — Essential for structural integrity and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant peeling and damage	Major	$15,000–50,000
roof · Visible signs of wear and tear	Major	$15,000–50,000
landscaping · Overgrown vegetation needs trimming	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both landscaping and exterior maintenance — Improves curb appeal and property value ↑
• Both exterior siding and roof repairs — Essential for structural integrity and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 28,716
• Household income: $68,843
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 387.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 16% Hispanic / Latino 9% Two or more races 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 17% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% 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: ▼ -99.75%
• Current HPI: 113.1047
• Rent YoY: —
• 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

+0.0% since first listed

2 events — show timeline

• 2025-01-25 Listed $140,000 GBRMLS
• 2025-01-24 Listed $140,000 AcadianaMLS