30584 Highway 23

Empire, LA 70041

$165,000B+

4 bd · 3.0 ba · 2,500 sqft · Built 2012 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,067/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$179
• HOA: −$0
• Vac / Maint / Mgmt: −$434
• Net cashflow: $588/mo
• Annual: $7,056/yr
• Cap rate: 10.57%
• Cash-on-cash: 15.27%
• DSCR: 1.68
• 1% rule: 1.25%
• Cash to close: $46,200

Investor read

• This is a 4-bed/3.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 40 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• In year one you build about $663 of equity ($1k loan paydown + $-478 appreciation (-0.3% local appreciation)).
• Location reads 56/100 on livability (#335 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Zoned schools: Boothville-Venice Elementary School (math 37% / reading 57%, grade D-, #151 of 646 statewide, top 24%, 288 students, 100% FRL); Belle Chasse Middle School (math 40% / reading 44%, grade D-, #59 of 218 statewide, top 27%, 721 students, 62% FRL); South Plaquemines High School (math 18% / reading 43%, grade F, #124 of 265 statewide, top 47%, 412 students, 100% FRL).
• Market conditions: 52 active listings in the ZIP; 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.
• 3 sale attempts 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.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.