139 Marks Ln

Buras, LA 70041

$150,000F

3 bd · 4.0 ba · 1,200 sqft · Built 1977 · SingleFamily · Active · 313 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,033/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$535
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $-505/mo
• Annual: $-6,066/yr
• Cap rate: 5.66%
• Cash-on-cash: -2.26%
• DSCR: 0.90
• 1% rule: 0.69%
• Cash to close: $42,000

Investor read

• This is a 3-bed/4.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-505 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $61k (59.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (31.1% below list).
• It's been on market 313 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (59.5% below list) — sets the bar for cash-flow.
• In year one you build about $603 of equity ($1k loan paydown + $-434 appreciation (-0.3% local appreciation)).
• Location reads 52/100 on livability (#409 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools D+, crime F.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 52 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 88 units permitted in Plaquemines Parish in 2024 (0 in 5+ unit buildings).
• Plaquemines County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $49k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 313 days. Have you received any prior offers? Is the seller open to a 60% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F 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?