108 Joaquin Dr · Houma, LA 70363

$80,000

3 bd · 2.0 ba · 1,466 sqft · SingleFamily public records · 80 Days on market

Built 1980 7,405 sqft lot Est $82k · at est.

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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 +8.6/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

Key facts

• Split floor plan
• Living room
• Den conversion

Tags

• SPLIT FLOOR PLAN
• LIVING ROOM
• CATHEDRAL CEILING
• BRICK CORNER FIREPLACE
• DEN CONVERSION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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.
• Market conditions: 206 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y 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.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 1.81% ✓
• Cap rate: 15.94%
• Cash-on-cash: 34.47%
• DSCR: 2.53
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $82,096
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 Joaquin Dr	0.00mi	3/2.0	1,457 (-1%)	1mo	$80,000	$55	98
3045 Grand Caillou Rd	0.48mi	2/2.0 (-1)	1,600 (+9%)	17mo	$90,000	$56	43

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,100
• Equity at exit: $11,928

10-year hold

• IRR: 11.1%
• Equity multiple: 1.88×
• Total profit: $19,760
• Equity at exit: $6,917

Cash invested: $22,400 (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 70363

• Active inventory: 206
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$45 /mo · $539/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $217

Break-even live

Break-even rent $1,170

Max offer price $80,000

Occupancy floor 80%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-25
   status Pending 282-char remark

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

2. 2026-04-24
   status Pending
3. 2026-03-17
   status Active 282-char remark

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

4. 2026-03-17
   status Active

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

5. 2026-03-09
   status Pending 282-char remark

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

6. 2026-03-09
   status Pending

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

7. 2026-01-25
   listed $80,000 Active 282-char remark

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

8. 2026-01-25
   listed $80,000 Active

   Show marketing remark (282 chars)

   East Houma split floor plan, living room with catheral ceiling and brick corner fireplace, no carpets, den conversion . This property may qualify for Seller Financing (Vendee). Some photos have been AI staged for illustration purposes only. Furnishings not provided as part of sale.

9. 2022-02-07
   soldstatus $130,000
10. 2020-09-10
    soldstatus $97,000
11. 2020-09-09
    soldstatus 302-char remark

    Show marketing remark (302 chars)

    This move in ready home has recently been updated. New flooring throughout the living area and bedrooms. New stove and dishwasher. freshly painted inside and out. New light fixtures throughout. Large bonus room that could be used for an extra bedroom, a game room, or a home office . Great family home.

12. 2020-04-07
    listed $99,500 302-char remark

    Show marketing remark (302 chars)

    This move in ready home has recently been updated. New flooring throughout the living area and bedrooms. New stove and dishwasher. freshly painted inside and out. New light fixtures throughout. Large bonus room that could be used for an extra bedroom, a game room, or a home office . Great family home.

13. 2020-04-07
    listed $99,500 302-char remark

    Show marketing remark (302 chars)

    This move in ready home has recently been updated. New flooring throughout the living area and bedrooms. New stove and dishwasher. freshly painted inside and out. New light fixtures throughout. Large bonus room that could be used for an extra bedroom, a game room, or a home office . Great family home.

14. 2019-04-08
    soldstatus
15. 2019-02-06
    listed $1,000
16. 1992-04-22
    soldstatus $20,700

ⓘ 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: $539 · $45/mo
• Projected year-2 tax: $539 · $45/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 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: $17,334
• − Mortgage interest: −$4,481
• − Property taxes: −$539
• − Insurance: −$5,518
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$2,327
• Taxable income: $1,695
• Est. tax owed @ 24.0%: −$407
• After-tax cash flow: $2,196/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 — 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

• City population: 57,290
• Population (ZIP): 24,668

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 0.62)
• Race & ethnicity: White 57% Black 22% Hispanic / Latino 9% Two or more races 8% Native American 8%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 16% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 4%

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: ▼ -99.27%
• Current HPI: 91.3914
• 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

+286.5% since first listed

16 events — show timeline

• 2026-04-25 Pending — AcadianaMLS
• 2026-04-24 Pending — GBRMLS
• 2026-03-17 Relisted — AcadianaMLS
• 2026-03-17 Relisted — GBRMLS
• 2026-03-09 Pending — AcadianaMLS
• 2026-03-09 Pending — GBRMLS
• 2026-01-25 Listed $80,000 GBRMLS
• 2026-01-25 Listed $80,000 AcadianaMLS
• 2022-02-07 Sold (Public Records) $130,000 Public Records
• 2020-09-10 Sold (Public Records) $97,000 Public Records
• 2020-09-09 Sold (MLS) — GBRMLS
• 2020-04-07 Listed $99,500 AcadianaMLS
• 2020-04-07 Listed $99,500 GBRMLS
• 2019-04-08 Sold (MLS) — GBRMLS
• 2019-02-06 Listed $1,000 GBRMLS
• 1992-04-22 Sold (Public Records) $20,700 Public Records

Property tax history

+1.9%/yr

Latest (2025): $539 · +5.7% YoY. Source: county tax records.