902A/B &902 1/2 Suthon Ave #3 · Houma, LA 70364

$179,000

None bd · None ba · 2,225 sqft · MultiFamily · 763 Days on market

Fair condition 6,969 sqft lot $80/sqft · 5% below area Est $189k · 5% under ↓ 4% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +9.9/15.0
• 1% rule +8.8/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. ***Seller is offering a $5,000 credit with an acceptable offer.

Key facts

• New roof after ida
• 6,969 sq ft lot
• 4 parking spots

Tags

• NEW ROOF AFTER IDA
• PRIVATE LAUNDRY HOOKUPS
• TENANT PAID UTILITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $179k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive. Per door: $143/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 4.0% in Houma — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#165 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, crime D-, amenities F.
• Terrebonne Parish (other): math 32% / reading 46% proficiency, ranked #23 of 98 in LA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 311 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 763 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 763 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.38% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $189,231
• List price: $179,000
• Delta: -5.41%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 & 223.5 Cherry St	0.34mi	—/—	2,159 (-3%)	24mo	$145,000	$67	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-10,532
• Equity at exit: $26,689

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $15,448
• Equity at exit: $15,477

Cash invested: $50,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70364

• Active inventory: 311
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,467 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $285

Break-even live

Break-even rent $2,106

Max offer price $179,000

Occupancy floor 83%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,468
Total (2 units)			$2,467

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
735 A School St Unit A Houma, LA	3.0	2.0	1450	$1,600	$1.10	43d	1	0.78mi
717 Wood St Houma, LA	3.0	2.0	1534	$1,300	$0.85	43d	1	0.87mi

Listing history 24 events

1. 2026-06-19
   days on market $179,000 Active 763 DOM
2. 2026-06-18
   days on market $179,000 Active 762 DOM
3. 2026-06-17
   days on market $179,000 Active 761 DOM
4. 2026-06-16
   days on market $179,000 Active 760 DOM
5. 2026-06-15
   days on market $179,000 Active 759 DOM
6. 2026-06-14
   days on market $179,000 Active 757 DOM
7. 2026-06-13
   days on market $179,000 Active 756 DOM
8. 2026-06-10
   days on market $179,000 Active 754 DOM
9. 2026-06-09
   days on market $179,000 Active 753 DOM
10. 2026-06-08
    days on market $179,000 Active 752 DOM
11. 2026-06-07
    days on market $179,000 Active 751 DOM
12. 2026-06-05
    days on market $179,000 Active 748 DOM
13. 2026-06-03
    days on market $179,000 Active 747 DOM
14. 2026-06-02
    days on market $179,000 Active 746 DOM
15. 2026-06-01
    days on market $179,000 Active 745 DOM
16. 2026-05-31
    days on market $179,000 Active 744 DOM
17. 2026-05-30
    days on market $179,000 Active 743 DOM
18. 2025-01-24
    price $179,000 494-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

19. 2025-01-24
    price $179,000 500-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

20. 2024-12-11
    listed $187,000 Active 500-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

21. 2024-12-11
    historical 500-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

22. 2024-10-14
    price $187,000 500-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

23. 2024-05-16
    listed $187,000 Active 494-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

24. 2024-05-16
    listed $189,000 Active 500-char remark

    Show marketing remark (500 chars)

    This property consists of a duplex in the front that remains in good condition with a new roof after Ida. The garage apartment in the back is very low maintenance. All All units have private laundry hookups and mostly tenant paid utilities. Located in a convenient area with access to local services and transportation. Ideal for investors seeking a reliable rental property. Contact us for more details and to schedule a viewing. * * * Seller is offering a $5,000 credit with an acceptable offer.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,604
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$6,014
• − Repairs & maintenance: −$2,368
• − Management: −$2,368
• − Depreciation: −$5,207
• Taxable income: $935
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $3,200/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This property is a moderate rehab opportunity with average condition. It requires some interior and exterior updates to improve its appearance and value.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear, but not in need of immediate replacement.
• Minor Bathroom fixtures — Some wear, but still functional and not in need of immediate replacement.
• Moderate Exterior siding — Significant discoloration and wear, may need repainting or replacement.
• Moderate Interior walls — Paint is faded and uneven, may need repainting.
• Moderate HVAC system — May need a tune-up or minor repair to ensure optimal performance.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can significantly improve the appearance of the interior and increase the home's curb appeal.
• Resale Replace worn-out kitchen cabinets — Modern, updated cabinets can enhance the kitchen's functionality and aesthetic appeal, making the home more attractive to potential buyers.
• Resale Replace worn-out bathroom fixtures — Upgrading outdated fixtures can make the bathroom more functional and appealing, which can increase the home's value.
• Resale Repaint exterior siding — A fresh coat of paint can significantly improve the home's curb appeal and make it more attractive to potential buyers.
• Rental Maintain landscaping and fencing — Well-maintained landscaping and fencing can enhance the home's curb appeal and make it more attractive to potential renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear, but not in need of immediate replacement.	Minor	$500–3,000
Bathroom fixtures · Some wear, but still functional and not in need of immediate replacement.	Minor	$500–3,000
Exterior siding · Significant discoloration and wear, may need repainting or replacement.	Moderate	$3,000–15,000
Interior walls · Paint is faded and uneven, may need repainting.	Moderate	$3,000–15,000
HVAC system · May need a tune-up or minor repair to ensure optimal performance.	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$10,000–51,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can significantly improve the appearance of the interior and increase the home's curb appeal. ↑
• Resale Replace worn-out kitchen cabinets — Modern, updated cabinets can enhance the kitchen's functionality and aesthetic appeal, making the home more attractive to potential buyers. ↑
• Resale Replace worn-out bathroom fixtures — Upgrading outdated fixtures can make the bathroom more functional and appealing, which can increase the home's value. ↑
• Resale Repaint exterior siding — A fresh coat of paint can significantly improve the home's curb appeal and make it more attractive to potential buyers. ↑
• Rental Maintain landscaping and fencing — Well-maintained landscaping and fencing can enhance the home's curb appeal and make it more attractive to potential renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Terrebonne Parish
• NCES district ID: 2201740
• Math proficiency: 32% ▼ -36.00%
• Reading proficiency: 46% ▼ -30.00%
• Median HH income: $47,612
• Composite: 33.38/100
• National rank: #5480
• State rank: #23 of 98 in LA

Livability — Houma

• Score: 64/100
• State rank: #165
• US rank: #13966

Category grades

Amenities F Commute F Cost of living A+ Crime D- Employment D Housing A Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houma, LA
• County: Terrebonne Parish · 57,290 people
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 28,716
• Household income: $68,843
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 387.0

Population outlook (Terrebonne County) Hauer SSP2

• Today (2025): 118,724 people
• By 2030: 120,321 · +1.3%
• By 2040: 121,894 · +2.7%
• By 2050: 121,119 · +2.0%
• By 2075: 117,270 · -1.2%
• By 2100: 107,544 · -9.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 16% Hispanic / Latino 9% Two or more races 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 17% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Terrebonne

• 2024 margin: Solid R (+51.8) · D 23.5% · R 75.3% · Other 1.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -40.9pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+50.0 2016: R+48.4 2012: R+41.2 2008: R+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.75%
• Current HPI: 113.1047
• Rent YoY: —
• Metro: Houma-Thibodaux, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

-4.3% since first listed

7 events — show timeline

• 2025-01-24 Price Changed $179,000 AcadianaMLS
• 2025-01-24 Price Changed $179,000 GBRMLS
• 2024-12-11 Listed $187,000 GBRMLS
• 2024-12-11 Delisted — GBRMLS
• 2024-10-14 Price Changed $187,000 GBRMLS
• 2024-05-16 Listed $189,000 GBRMLS
• 2024-05-16 Listed $187,000 AcadianaMLS