3316 Myrtle St

Maurice, LA 70555

$231,690D

3 bd · 2.0 ba · 1,498 sqft · Built 2026 · SingleFamily · Active · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,091/mo
• Mortgage (P&I): −$1,256
• Tax + insurance: −$399
• HOA: −$33
• Vac / Maint / Mgmt: −$439
• Net cashflow: $-36/mo
• Annual: $-434/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• 1% rule: 0.87%
• Cash to close: $67,055

Investor read

• This is a 3-bed/2.0-bath single-family listed at $232k. Condition is rated good.
• At list price, monthly cash flow is $-36 ($-434/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (9.8% below list).
• It's been on market 89 days — a 6% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $209k (9.8% 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 76/100 on livability (#15 in LA, #3,333 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute 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: Cecil Picard Elementary School At Maurice (math 61% / reading 68%, grade B, #40 of 646 statewide, top 7%, 845 students, 42% FRL); North Vermilion Middle School (math 47% / reading 53%, grade C, #26 of 218 statewide, top 12%, 656 students, 45% FRL); North Vermilion High School (math 57% / reading 63%, grade C+, #20 of 265 statewide, top 7%, 854 students, 44% FRL).
• Market conditions: 300 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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.
• 2 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.
• This rent runs 33% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 89 days. Have you received any prior offers? Is the seller open to a 10% 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.