403 Fanguy St

Chauvin, LA 70344

$47,500A-

3 bd · 1.5 ba · 1,546 sqft · Built 1965 · SingleFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,196/mo
• Mortgage (P&I): −$249
• Tax + insurance: −$502
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $193/mo
• Annual: $2,317/yr
• Cap rate: 21.95%
• Cash-on-cash: 55.90%
• DSCR: 3.49
• 1% rule: 2.52%
• Cash to close: $13,300

Investor read

• This is a 3-bed/1.5-bath single-family listed at $48k.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• It's been on market 88 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($328 loan paydown + $1k appreciation (2.1% local appreciation)).
• Location reads 60/100 on livability (#245 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools C-, amenities F, commute 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.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 62 active listings in the ZIP; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).
• 9 sale attempts since 16y ago; this cycle's ask has dropped $12k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.
• 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

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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.
• 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.
• 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.
• 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.