1408 Cottage Dr · Houma, LA 70360

$274,000

5 bd · 2.5 ba · 3,000 sqft · SingleFamily public records · 12 Days on market

Built 1979 8,276 sqft lot $91/sqft · 16% below area Est $329k · 17% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious and beautifully maintained 5-bedroom, 2.5-bath home located in one of Houma's most desirable neighborhoods! Offering plenty of room for the whole family, this home also features a versatile bonus room that can be used as a home office, playroom, gym, hobby room, or additional living space. Recent updates make this home move-in ready, including a new refrigerator, new electric stove, new washer and dryer, new water heater, new air conditioning units, new windows throughout, new blinds throughout, a new mailbox, and fresh landscaping. The roof was replaced after Hurricane Ida, providing added peace of mind. The updated kitchen features modern cabinetry, stylish subway tile backsplash, ample storage, and plenty of workspace. Outside, you'll find a large, fully fenced backyard with room for entertaining, pets, play equipment, gardening, or simply enjoying the outdoors. Located in Flood Zone X and within the highly sought-after Mulberry School District, this home offers exceptional convenience with Rouses, shopping, restaurants, schools, medical facilities, and everyday amenities just minutes away. Neighborhood amenities include tennis courts and a playground, making this a wonderful place to call home. If you've seen this home before, it's worth another look! The recent updates and refreshed appearance showcase everything this property has to offer. 5 Bedrooms | 2.5 Bathrooms | Bonus Room | Large Fenced Backyard | Flood Zone X | Mulberry School District Schedule your private showing today with your favorite realtor!

Key facts

• Tennis courts
• Flood zone x
• Playground

Tags

• LARGE FENCED BACKYARD
• FLOOD ZONE X
• MULBERRY SCHOOL DISTRICT
• TENNIS COURTS
• PLAYGROUND

Property features AI

Finance

• HOA & community: Playground; Tennis courts; Sidewalks

Exterior

• Parking: Garage (4 parking spaces total)
• Utilities: Public sewer
• Home design: Single-family detached residence; Residential property
• Construction: Brick construction; Shingle roof; Slab foundation; Built area approximately 3604
• Exterior features: Patio; Full fenced yard

Interior

• Kitchen: Electric cooktop; Dishwasher; Refrigerator; Stainless steel appliances
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; 1 partial bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Stainless steel appliances; Dishwasher; Electric cooktop; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $274k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (28.1% below list).
• Recommended offer: $197k (28.1% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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.
• Market conditions: Rents rising (+2.8%/yr); 355 active listings in the ZIP; solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 5y 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.
• Current owner paid $130k; list at $274k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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.

Recommended offer $196,959 (28.1% below list)

Questions for the listing agent

1. 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?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 11.6

CMA / ARV

• ARV (median comp): $329,342
• List price: $274,000
• Delta: -16.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 Oakdale Loop	0.67mi	4/2.5 (-1)	2,970 (-1%)	5mo	$665,000	$224	57
307 Wayside Dr	0.43mi	4/2.0 (-1)	2,669 (-11%)	2mo	$310,000	$116	53
157 Oakdale Loop	0.66mi	4/3.0 (-1)	2,878 (-4%)	14mo	$779,900	$271	44
117 Mcallen Dr	0.72mi	4/3.0 (-1)	2,645 (-12%)	12mo	$269,000	$102	30
215 Raywood Dr	0.59mi	4/3.0 (-1)	2,564 (-14%)	23mo	$275,000	$107	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -22.4%
• Equity multiple: 0.23×
• Total profit: $-59,030
• Equity at exit: $40,854

10-year hold

• IRR: -17.0%
• Equity multiple: 0.07×
• Total profit: $-71,350
• Equity at exit: $23,691

Cash invested: $76,720 (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 70360

• Rents YoY: 2.8%
• Active inventory: 355
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,970 medium
• Mortgage (P&I): −$1,437
• Tax from tax record: −$162 /mo · $1,943/yr
• Insurance: −$114
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-223

Break-even live

Break-even rent $2,252

Max offer price $234,522

Occupancy floor —

Sensitivity live

Price	-10% $-68	-5% $-146	+0% $-223	+5% $-301	+10% $-379
Rent	-10% $-379	-5% $-301	+0% $-223	+5% $-146	+10% $-68
Rate	-1.0pp $-85	-0.5pp $-154	base $-223	+0.5pp $-294	+1.0pp $-367

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-19
   days on market $274,000 Active 12 DOM
2. 2026-06-18
   days on market $274,000 Active 11 DOM
3. 2026-06-17
   days on market $274,000 Active 10 DOM
4. 2026-06-16
   days on market $274,000 Active 9 DOM
5. 2026-06-15
   days on market $274,000 Active 8 DOM
6. 2026-06-14
   days on market $274,000 Active 6 DOM
7. 2026-06-13
   days on market $274,000 Active 5 DOM
8. 2026-06-10
   days on market $274,000 Active 3 DOM
9. 2026-06-09
   days on market $274,000 Active 2 DOM
10. 2026-06-08
    days on marketlisting id $274,000 Active 1 DOM
11. 2025-07-03
    price $274,000 1192-char remark
12. 2025-07-03
    price $274,000 1204-char remark
13. 2025-01-29
    price $275,000 1192-char remark
14. 2025-01-29
    price $275,000 1204-char remark
15. 2024-12-11
    listed $285,000 Active 1204-char remark
16. 2024-12-11
    historical 1204-char remark
17. 2024-05-04
    price $285,000 1204-char remark
18. 2024-04-08
    listed $285,000 Active 1192-char remark
19. 2024-04-08
    listed $300,000 Active 1204-char remark
20. 2024-04-02
    historical
21. 2023-05-06
    price $299,900
22. 2023-04-01
    historical
23. 2023-04-01
    listed $319,500 Active
24. 2023-04-01
    listed $299,900
25. 2023-03-16
    price $319,500
26. 2023-02-16
    price $322,500
27. 2022-10-25
    listed $325,000 Active
28. 2022-10-25
    listed $319,500
29. 2022-04-26
    listed $325,000
30. 2022-04-26
    listed $325,000
31. 2022-04-26
    listed $325,000
32. 2021-06-16
    soldstatus
33. 2021-04-10
    listed $171,000
34. 2021-04-10
    listed $171,000
35. 2008-02-22
    soldstatus $130,000
36. 1999-03-11
    soldstatus $105,000

ⓘ 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: $1,943 · $162/mo
• Projected year-2 tax: $1,943 · $162/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 23 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: $23,635
• − Mortgage interest: −$15,348
• − Property taxes: −$1,943
• − Insurance: −$2,168
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$7,971
• Taxable loss: −$7,577
• Est. tax savings @ 24.0%: +$1,818
• After-tax cash flow: $-863/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
• County: Terrebonne Parish · 57,290 people
• City population: 57,290
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 28,574
• Household income: $84,890
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 811.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 24% Armenian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -149.43%
• Current HPI: 138.5984
• Rent YoY: ▲ 2.82%
• Metro: Houma-Thibodaux, LA
• 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

+161.0% since first listed

28 events — show timeline

• 2026-06-07 Listed $274,000 GBRMLS
• 2026-06-07 Listed $274,000 AcadianaMLS
• 2025-07-03 Price Changed $274,000 AcadianaMLS
• 2025-07-03 Price Changed $274,000 GBRMLS
• 2025-01-29 Price Changed $275,000 AcadianaMLS
• 2025-01-29 Price Changed $275,000 GBRMLS
• 2024-12-11 Listed $285,000 GBRMLS
• 2024-12-11 Delisted — GBRMLS
• 2024-05-04 Price Changed $285,000 GBRMLS
• 2024-04-08 Listed $300,000 GBRMLS
• 2024-04-08 Listed $285,000 AcadianaMLS
• 2024-04-02 Delisted — GBRMLS
• 2023-05-06 Price Changed $299,900 GBRMLS
• 2023-04-01 Delisted — GBRMLS
• 2023-04-01 Listed $299,900 AcadianaMLS
• 2023-04-01 Listed $319,500 GBRMLS
• 2023-03-16 Price Changed $319,500 GBRMLS
• 2023-02-16 Price Changed $322,500 GBRMLS
• 2022-10-25 Listed $319,500 AcadianaMLS
• 2022-10-25 Listed $325,000 GBRMLS
• 2022-04-26 Listed $325,000 AcadianaMLS
• 2022-04-26 Listed $325,000 GBRMLS
• 2022-04-26 Listed $325,000 GBRMLS
• 2021-06-16 Sold (MLS) — GBRMLS
• 2021-04-10 Listed $171,000 GBRMLS
• 2021-04-10 Listed $171,000 AcadianaMLS
• 2008-02-22 Sold (Public Records) $130,000 Public Records
• 1999-03-11 Sold (Public Records) $105,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,943 · -1.6% YoY. Source: county tax records.