223 Peters St · Houma, LA 70363

$112,000

3 bd · 2.0 ba · 1,796 sqft · Manufactured · 129 Days on market

Built 2000 8,276 sqft lot $62/sqft · 11% below area Est $125k · 11% under

---

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 +12.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Welcome to this Well-maintained 3-bedroom, 2-bath modular home that offers a desirable split floor plan and generous living space. Recent updates include a new roof and vinyl wood plank flooring with carpet in two bedrooms showing minimal wear. The kitchen offers a walk-in pantry and dishwasher hookup, while a functional mudroom with laundry adds everyday convenience. The cozy den includes built in bookcase and a fireplace, perfect for relaxing evenings. The spacious primary suite provides exceptional storage with a generous walk-in closet plus 2 additional closets , along with an en-suite bath featuring dual sinks, a soaking tub, and a separate shower. A carport with ample parking completes this move-in-ready home. Alarm pad is present but not currently connected. Buyer to confirm all measurements and flood zone. Don't miss this opportunity to choose this home that provides both comfort and practicality. Could also be a great INVESTMENT FOR A RENTAL !!!!!

Key facts

• Split floor plan
• Built in bookcase
• Functional mudroom

Tags

• SPLIT FLOOR PLAN
• WALK-IN PANTRY
• FUNCTIONAL MUDROOM
• BUILT IN BOOKCASE
• GENEROUS WALK-IN CLOSET
• EN-SUITE BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $112k.

Deal economics

• At list price, monthly cash flow is $56 ($672/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: Honduras Elementary School (math 27% / reading 42%, grade F, #284 of 646 statewide, top 46%, 281 students, 71% FRL); Oaklawn Middle School (math 18% / reading 37%, grade F, #127 of 218 statewide, top 60%, 587 students, 66% FRL); Ellender Memorial High School (math 27% / reading 28%, grade F, #133 of 265 statewide, top 51%, 868 students, 63% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $98,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.29% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.47%
• DSCR: 1.82
• GRM: 6.5

CMA / ARV

• ARV (median comp): $125,248
• List price: $112,000
• Delta: -10.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.7%
• Equity multiple: 0.54×
• Total profit: $-14,367
• Equity at exit: $16,700

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-7,047
• Equity at exit: $9,684

Cash invested: $31,360 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,446 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$26 /mo · $312/yr
• Insurance: −$47
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $56

Break-even live

Break-even rent $1,375

Max offer price $112,000

Occupancy floor 91%

Sensitivity live

Price	-10% $119	-5% $88	+0% $56	+5% $24	+10% $-7
Rent	-10% $-58	-5% $-1	+0% $56	+5% $113	+10% $170
Rate	-1.0pp $112	-0.5pp $85	base $56	+0.5pp $27	+1.0pp $-3

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
735 A School St Unit A Houma, LA	3.0	2.0	1450	$1,600	$1.10	45d	1	1.30mi
717 Wood St Houma, LA	3.0	2.0	1534	$1,300	$0.85	45d	1	1.31mi

Listing history 22 events

1. 2026-06-21
   days on market $112,000 Active 129 DOM
2. 2026-06-19
   days on market $112,000 Active 127 DOM
3. 2026-06-18
   days on market $112,000 Active 126 DOM
4. 2026-06-17
   days on market $112,000 Active 125 DOM
5. 2026-06-16
   days on market $112,000 Active 124 DOM
6. 2026-06-15
   days on market $112,000 Active 123 DOM
7. 2026-06-14
   days on market $112,000 Active 121 DOM
8. 2026-06-13
   days on market $112,000 Active 120 DOM
9. 2026-06-10
   days on market $112,000 Active 118 DOM
10. 2026-06-09
    days on market $112,000 Active 117 DOM
11. 2026-06-09
    price $112,000 Active 116 DOM
12. 2026-06-08
    days on market $120,000 Active 116 DOM
13. 2026-06-07
    days on market $120,000 Active 115 DOM
14. 2026-06-05
    days on market $120,000 Active 112 DOM
15. 2026-06-03
    days on market $120,000 Active 111 DOM
16. 2026-06-02
    days on market $120,000 Active 110 DOM
17. 2026-06-01
    days on market $120,000 Active 109 DOM
18. 2026-05-31
    days on market $120,000 Active 108 DOM
19. 2026-05-30
    days on market $120,000 Active 107 DOM
20. 2026-02-12
    listed $120,000 Active 971-char remark

    Show marketing remark (970 chars)

    Welcome to this Well-maintained 3-bedroom, 2-bath modular home that offers a desirable split floor plan and generous living space. Recent updates include a new roof and vinyl wood plank flooring with carpet in two bedrooms showing minimal wear. The kitchen offers a walk-in pantry and dishwasher hookup, while a functional mudroom with laundry adds everyday convenience. The cozy den includes built in bookcase and a fireplace, perfect for relaxing evenings. The spacious primary suite provides exceptional storage with a generous walk-in closet plus 2 additional closets , along with an en-suite bath featuring dual sinks, a soaking tub, and a separate shower. A carport with ample parking completes this move-in-ready home. Alarm pad is present but not currently connected. Buyer to confirm all measurements and flood zone. Don't miss this opportunity to choose this home that provides both comfort and practicality. Could also be a great INVESTMENT FOR A RENTAL !!!!!

21. 2026-02-12
    listed $120,000 Active 970-char remark

    Show marketing remark (970 chars)

    Welcome to this Well-maintained 3-bedroom, 2-bath modular home that offers a desirable split floor plan and generous living space. Recent updates include a new roof and vinyl wood plank flooring with carpet in two bedrooms showing minimal wear. The kitchen offers a walk-in pantry and dishwasher hookup, while a functional mudroom with laundry adds everyday convenience. The cozy den includes built in bookcase and a fireplace, perfect for relaxing evenings. The spacious primary suite provides exceptional storage with a generous walk-in closet plus 2 additional closets , along with an en-suite bath featuring dual sinks, a soaking tub, and a separate shower. A carport with ample parking completes this move-in-ready home. Alarm pad is present but not currently connected. Buyer to confirm all measurements and flood zone. Don't miss this opportunity to choose this home that provides both comfort and practicality. Could also be a great INVESTMENT FOR A RENTAL !!!!!

22. 2000-10-23
    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: $312 · $26/mo
• Projected year-2 tax: $616 · $51/mo
• Expected delta: +$304/yr (+$25/mo · 97.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 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: $17,355
• − Mortgage interest: −$6,274
• − Property taxes: −$312
• − Insurance: −$5,678
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$3,258
• Taxable loss: −$944
• Est. tax savings @ 24.0%: +$227
• After-tax cash flow: $899/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

• Census place: Houma, LA
• 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

+0.0% since first listed

3 events — show timeline

• 2026-02-12 Listed $120,000 AcadianaMLS
• 2026-02-12 Listed $120,000 GBRMLS
• 2000-10-23 Sold (Public Records) — Public Records

Property tax history

+17.5%/yr

Latest (2025): $312 · +2.9% YoY. Source: county tax records.