214 N Suire St

Erath, LA 70533

$93,000B+

2 bd · 1.0 ba · 1,163 sqft · Built — · SingleFamily · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,376/mo
• Mortgage (P&I): −$488
• Tax + insurance: −$497
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $102/mo
• Annual: $1,225/yr
• Cap rate: 13.11%
• Cash-on-cash: 24.36%
• DSCR: 2.08
• 1% rule: 1.48%
• Cash to close: $26,040

Investor read

• This is a 2-bed/1.0-bath single-family listed at $93k.
• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• It's been on market 80 days — a 6% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#35 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Vermilion Parish (town): math 40% / reading 53% proficiency, ranked #15 of 98 in LA (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dozier Elementary School (math 45% / reading 67%, grade C+, #87 of 646 statewide, top 13%, 547 students, 54% FRL); Erath Middle School (math 47% / reading 70%, grade B, #13 of 218 statewide, top 6%, 545 students, 55% FRL); Erath High School (math 62% / reading 67%, grade B-, #13 of 265 statewide, top 5%, 531 students, 46% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 46% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Vermilion Parish average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 35 active listings in the ZIP; 228 units permitted in Vermilion Parish in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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→21/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 80 days. Have you received any prior offers? Is the seller open to a 6% 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 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.