309-B Cherry Blossom Ln

Terrytown, LA 70056

$120,000D+

2 bd · 1.5 ba · 1,171 sqft · Built 1963 · Condo · Active · 223 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,487/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$266
• HOA: −$398
• Vac / Maint / Mgmt: −$312
• Net cashflow: $-119/mo
• Annual: $-1,431/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• 1% rule: 1.24%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.5-bath condo listed at $120k. Condition is rated good.
• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (14.4% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 223 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (14.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#73 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, crime F, amenities F.
• Jefferson Parish (suburban): math 24% / reading 34% proficiency, ranked #44 of 98 in LA (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: William Hart Elementary School (math 8% / reading 17%, grade F, #550 of 646 statewide, top 88%, 374 students, 60% FRL); Livaudais Middle School (math 8% / reading 22%, grade F, #185 of 218 statewide, top 85%, 621 students, 56% FRL); West Jefferson High School (math 10% / reading 17%, grade F, #229 of 265 statewide, top 86%, 1,524 students, 58% FRL).
• Zoned-school proficiency averages 14% at this address vs 29% district-wide (-15 pts) — the specific schools serving this property underperform the Jefferson Parish average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $66/mo; HOA is 27% of rent.
• Market conditions: Rents soft (-0.2%/yr); 165 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 3 sale attempts since 18y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; 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 5.8% vs local median 4.5% in Terrytown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 30% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 223 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1963 — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.