2147 Audubon Ave · Thibodaux, LA 70301

$3,600,000

None bd · None ba · 68,020 sqft · MultiFamily · 179 Days on market

Good condition 5.00 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 100 units. estimate disagrees with records

Listing remarks MLS

Experience a standout investment opportunity with this 100-unit apartment complex perfectly positioned in the heart of Thibodaux. Just minutes from Nicholls State University, Thibodaux Regional Health System, shopping, restaurants, and major employers, this location consistently delivers strong year-round occupancy and reliable rental demand. The complex offers well-kept buildings, plenty of parking, and clean, attractive grounds. Its proximity to campus, medical facilities, and everyday conveniences makes it appealing to a wide range of renters--from students to professionals to long-term tenants. Opportunities like this don't come around often. Secure a large-scale multifamily asset in a high-demand Thibodaux market with steady performance and long-term growth potential.

Key facts

• Proximity to campus
• Plenty of parking
• Heart of thibodaux

Tags

• 100 UNIT APARTMENT COMPLEX
• HEART OF THIBODAUX
• PROXIMITY TO CAMPUS
• MEDICAL FACILITIES
• PLENTY OF PARKING
• CLEAN ATTRACTIVE GROUNDS

What this means for you Summary

Snapshot

• This is a 100 × 1-bed/1-bath units multifamily listed at $3.60M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $58k ($694k/yr) — positive. Per door: $579/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($105k rent vs $3.60M).
• Recommended offer: $3.17M (12.0% below list) — sets the bar for market timing.
• Cap rate 25.6% vs local median 3.8% in Thibodaux — 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 84/100 on livability (#2 in LA, #723 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime C-, employment F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 513 active listings in the ZIP; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).
• At $104,750/mo this rent would consume 2153% of the median local household income ($58k/yr) (locally 1513% 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 $25k of loan paydown is wiped out by about $108k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $1.01M cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($3.17M) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $3,168,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 A-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. 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 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: 2.91% ✓
• Cap rate: 25.58%
• Cash-on-cash: 68.90%
• DSCR: 4.07
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.9% rent growth · sell at horizon

5-year hold

• IRR: 68.2%
• Equity multiple: 4.07×
• Total profit: $3,093,704
• Equity at exit: $536,772

10-year hold

• IRR: 72.3%
• Equity multiple: 8.34×
• Total profit: $7,403,568
• Equity at exit: $311,262

Cash invested: $1,008,000 (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 70301

• Rents YoY: 2.9%
• Active inventory: 513
• Price-to-rent: 286.4×

Monthly cashflow live

• Estimated rent: $104,750 medium
• Mortgage (P&I): −$18,879
• Tax est. 1.5%: −$4,500 /mo · $54,000/yr
• Insurance: −$1,500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$21,998
• Net cashflow: $57,874

Break-even live

Break-even rent $31,492

Max offer price $3,600,000

Occupancy floor 40%

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

Units	Beds	Baths	Est. rent
▸ 100× units	1	1	$104,800
Total (100 units)			$104,750

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: $900,000
• Closing costs: $108,000
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $3,600,000 Active 179 DOM
2. 2026-06-18
   days on market $3,600,000 Active 178 DOM
3. 2026-06-17
   days on market $3,600,000 Active 177 DOM
4. 2026-06-16
   days on market $3,600,000 Active 176 DOM
5. 2026-06-15
   days on market $3,600,000 Active 175 DOM
6. 2026-06-14
   days on market $3,600,000 Active 173 DOM
7. 2026-06-13
   days on market $3,600,000 Active 172 DOM
8. 2026-06-10
   days on market $3,600,000 Active 170 DOM
9. 2026-06-09
   days on market $3,600,000 Active 169 DOM
10. 2026-06-08
    days on market $3,600,000 Active 168 DOM
11. 2026-06-07
    days on market $3,600,000 Active 167 DOM
12. 2026-06-05
    days on market $3,600,000 Active 164 DOM
13. 2026-06-03
    days on market $3,600,000 Active 163 DOM
14. 2026-06-02
    days on market $3,600,000 Active 162 DOM
15. 2026-06-01
    days on market $3,600,000 Active 161 DOM
16. 2026-05-31
    days on market $3,600,000 Active 160 DOM
17. 2026-05-30
    days on market $3,600,000 Active 159 DOM
18. 2026-02-27
    status Active 783-char remark

    Show marketing remark (794 chars)

    Experience a standout investment opportunity with this 100-unit apartment complex perfectly positioned in the heart of Thibodaux. Just minutes from Nicholls State University, Thibodaux Regional Health System, shopping, restaurants, and major employers, this location consistently delivers strong year-round occupancy and reliable rental demand. The complex offers well-kept buildings, plenty of parking, and clean, attractive grounds. Its proximity to campus, medical facilities, and everyday conveniences makes it appealing to a wide range of renters—from students to professionals to long-term tenants. Opportunities like this don’t come around often. Secure a large-scale multifamily asset in a high-demand Thibodaux market with steady performance and long-term growth potential.

19. 2026-02-27
    status Active 794-char remark

    Show marketing remark (794 chars)

    Experience a standout investment opportunity with this 100-unit apartment complex perfectly positioned in the heart of Thibodaux. Just minutes from Nicholls State University, Thibodaux Regional Health System, shopping, restaurants, and major employers, this location consistently delivers strong year-round occupancy and reliable rental demand. The complex offers well-kept buildings, plenty of parking, and clean, attractive grounds. Its proximity to campus, medical facilities, and everyday conveniences makes it appealing to a wide range of renters—from students to professionals to long-term tenants. Opportunities like this don’t come around often. Secure a large-scale multifamily asset in a high-demand Thibodaux market with steady performance and long-term growth potential.

20. 2026-01-23
    status Pending 794-char remark

    Show marketing remark (794 chars)

    Experience a standout investment opportunity with this 100-unit apartment complex perfectly positioned in the heart of Thibodaux. Just minutes from Nicholls State University, Thibodaux Regional Health System, shopping, restaurants, and major employers, this location consistently delivers strong year-round occupancy and reliable rental demand. The complex offers well-kept buildings, plenty of parking, and clean, attractive grounds. Its proximity to campus, medical facilities, and everyday conveniences makes it appealing to a wide range of renters—from students to professionals to long-term tenants. Opportunities like this don’t come around often. Secure a large-scale multifamily asset in a high-demand Thibodaux market with steady performance and long-term growth potential.

21. 2025-11-17
    listed $3,600,000 Active 794-char remark

    Show marketing remark (783 chars)

    Experience a standout investment opportunity with this 100-unit apartment complex perfectly positioned in the heart of Thibodaux. Just minutes from Nicholls State University, Thibodaux Regional Health System, shopping, restaurants, and major employers, this location consistently delivers strong year-round occupancy and reliable rental demand. The complex offers well-kept buildings, plenty of parking, and clean, attractive grounds. Its proximity to campus, medical facilities, and everyday conveniences makes it appealing to a wide range of renters--from students to professionals to long-term tenants. Opportunities like this don't come around often. Secure a large-scale multifamily asset in a high-demand Thibodaux market with steady performance and long-term growth potential.

22. 2025-11-17
    listed $3,600,000 Active 783-char remark

    Show marketing remark (783 chars)

    Experience a standout investment opportunity with this 100-unit apartment complex perfectly positioned in the heart of Thibodaux. Just minutes from Nicholls State University, Thibodaux Regional Health System, shopping, restaurants, and major employers, this location consistently delivers strong year-round occupancy and reliable rental demand. The complex offers well-kept buildings, plenty of parking, and clean, attractive grounds. Its proximity to campus, medical facilities, and everyday conveniences makes it appealing to a wide range of renters--from students to professionals to long-term tenants. Opportunities like this don't come around often. Secure a large-scale multifamily asset in a high-demand Thibodaux market with steady performance and long-term growth potential.

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

Taxation est. · year 1

• Rental income: $1,257,000
• − Mortgage interest: −$201,656
• − Property taxes: −$54,000
• − Insurance: −$18,000
• − Repairs & maintenance: −$100,560
• − Management: −$100,560
• − Depreciation: −$104,727
• Taxable income: $677,497
• Est. tax owed @ 24.0%: −$162,599
• After-tax cash flow: $531,885/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 · 13 photos

Good 75/100 Cosmetic rehab

This 100-unit apartment complex in Thibodaux is in good condition with well-maintained buildings and grounds. A fresh coat of paint and cleaning gutters would significantly enhance its curb appeal and property value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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: Lafourche Parish
• NCES district ID: 2200900
• Math proficiency: 31% ▼ -43.00%
• Reading proficiency: 49% ▼ -32.00%
• Median HH income: $49,703
• Composite: 34.4/100
• National rank: #5205
• State rank: #22 of 98 in LA

Livability — Thibodaux

• Score: 84/100
• State rank: #2
• US rank: #723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thibodaux, LA
• County: Lafourche Parish · 50,095 people
• City population: 50,095
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 50,095
• Household income: $58,394
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 1513.0

Population outlook (Lafourche County) Hauer SSP2

• Today (2025): 102,122 people
• By 2030: 103,361 · +1.2%
• By 2040: 104,401 · +2.2%
• By 2050: 102,795 · +0.7%
• By 2075: 95,599 · -6.4%
• By 2100: 82,303 · -19.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Hispanic / Latino 5% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 18% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 2%

Political lean MEDSL · Lafourche

• 2024 margin: Solid R (+62.1) · D 18.4% · R 80.4% · Other 1.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -46.0pp · 2024: -62.1pp
• All cycles: 2024: R+62.1 2020: R+60.3 2016: R+56.5 2012: R+48.5 2008: R+46.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.35%
• Current HPI: 124.5559
• Rent YoY: ▲ 2.90%
• 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

5 events — show timeline

• 2026-02-27 Relisted — AcadianaMLS
• 2026-02-27 Relisted — GBRMLS
• 2026-01-23 Pending — GBRMLS
• 2025-11-17 Listed $3,600,000 GBRMLS
• 2025-11-17 Listed $3,600,000 AcadianaMLS