937 Morgan Bluff Rd

Pearl River, LA 70452

$339,000D+

4 bd · 2.5 ba · 3,189 sqft · Built 1981 · SingleFamily · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,000/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$894
• HOA: −$4
• Vac / Maint / Mgmt: −$630
• Net cashflow: $-306/mo
• Annual: $-3,666/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• 1% rule: 0.88%
• Cash to close: $94,920

Investor read

• This is a 4-bed/2.5-bath single-family listed at $339k.
• At list price, monthly cash flow is $-306 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (11.5% below list).
• It's been on market 100 days — a 9% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $285k (15.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 51/100 on livability (#419 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• St. Tammany Parish (suburban): math 43% / reading 55% proficiency, ranked #11 of 98 in LA (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside Elementary School (math 42% / reading 52%, grade D-, #151 of 646 statewide, top 24%, 436 students, 54% FRL); Creekside Junior High (math 22% / reading 35%, grade F, #119 of 218 statewide, top 57%, 534 students, 53% FRL); Pearl River High School (math 22% / reading 36%, grade F, #132 of 265 statewide, top 50%, 830 students, 55% FRL).
• Zoned-school proficiency averages 35% at this address vs 49% district-wide (-14 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 159 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• St. Tammany County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 29y 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.
• 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.
• Cap rate 6.7% vs local median 4.0% in Pearl River — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?