5121 Wm Adam St

Lafitte, LA 70067

$119,000B

3 bd · 2.0 ba · 1,800 sqft · Built 1990 · SingleFamily · Active · 303 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,700/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$625
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $94/mo
• Annual: $1,129/yr
• Cap rate: 11.54%
• Cash-on-cash: 18.75%
• DSCR: 1.83
• 1% rule: 1.43%
• Cash to close: $33,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $119k. Condition is rated good.
• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• It's been on market 303 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($823 loan paydown + $765 appreciation (0.6% local appreciation)).
• Location reads 51/100 on livability (#421 in LA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: cost of living D+, amenities F, commute 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.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 40 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 6 sale attempts since 2y ago; this cycle's ask is 7338% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 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→22/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 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.