541 Matthew St

Lafitte, LA 70067

$105,000B

3 bd · 1.5 ba · 1,033 sqft · Built 1996 · Manufactured · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,483/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $501/mo
• Annual: $6,008/yr
• Cap rate: 12.01%
• Cash-on-cash: 20.44%
• DSCR: 1.91
• 1% rule: 1.41%
• Cash to close: $29,400

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $105k.
• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 74 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($726 loan paydown + $675 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.
• Zoned schools: Frederick Douglass Community School (math 10% / reading 10%, grade F, #199 of 218 statewide, top 92%, 138 students, 80% FRL).
• Market conditions: 41 active listings in the ZIP; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 6 sale attempts since 8y 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 $50k; list at $105k implies a 110% gain — meaningful room to come down on a strong offer.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.