17197 Chenier Dr

Prairieville, LA 70769

$248,000C-

3 bd · 2.0 ba · 1,658 sqft · Built 1998 · SingleFamily · Pending · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,157/mo
• Mortgage (P&I): −$1,301
• Tax + insurance: −$291
• HOA: −$4
• Vac / Maint / Mgmt: −$453
• Net cashflow: $108/mo
• Annual: $1,302/yr
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• 1% rule: 0.87%
• Cash to close: $69,440

Investor read

• This is a 3-bed/2.0-bath single-family listed at $248k.
• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (13.0% below list).
• It's been on market 63 days — a 6% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (13.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#70 in LA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Ascension Parish (suburban): math 48% / reading 58% proficiency, ranked #7 of 98 in LA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Prairieville Primary School (math 59% / reading 69%, grade B, #45 of 646 statewide, top 7%, 845 students, 38% FRL); Prairieville Middle School (math 68% / reading 74%, grade A, #4 of 218 statewide, top 1%, 770 students, 34% FRL); Dutchtown High School (math 70% / reading 68%, grade B, #9 of 265 statewide, top 3%, 2,643 students, 30% FRL).
• Zoned-school proficiency averages 68% at this address vs 53% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Ascension Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.5%/yr); 496 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 579 units permitted in Ascension Parish in 2024 (0 in 5+ unit buildings).
• Ascension County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 28y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 4.4% in Prairieville — 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

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• 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 A-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?
• 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.