2618 Isabel St · Houma, LA 70363

$170,000

None bd · None ba · 4,132 sqft · MultiFamily · 149 Days on market

Fair condition 10,018 sqft lot $41/sqft · 16% below area Est $203k · 16% under

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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
• ARV discount +14.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Calling all investors! Value-add multi-unit opportunity featuring four units across three separate buildings, offering immediate income with additional upside. Unit A is currently rented, Unit B is vacant and rent-ready, while Units C and D are vacant and in need of renovation, creating a clear path to increased cash flow. The property offers a versatile unit mix, including two 2-bedroom/1-bath units (Units A & B), a 1-bedroom/1-bath standalone unit (Unit C), and a spacious two-story 3-bedroom/1.5-bath standalone unit (Unit D). Units C and D are located in their own separate buildings, providing added privacy and flexibility for future rental strategies. With one unit already producing income and another ready to be leased immediately, investors can begin generating returns while renovating the remaining units at their own pace. Once updated, the vacant units present strong potential for higher rents and long-term appreciation. An excellent opportunity for investors seeking a multi-unit property with immediate cash flow, value-add potential, and multiple income streams in one location.

Key facts

• 0.23 acre lot
• 4 parking spots
• Listed 149 days

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba + 1×3bd/1.5ba units multifamily listed at $170k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $581/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.2% 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.
• Zoned schools: Acadian Elementary School (math 36% / reading 34%, grade F, #280 of 646 statewide, top 44%, 617 students, 75% FRL); Oaklawn Middle School (math 18% / reading 37%, grade F, #127 of 218 statewide, top 60%, 587 students, 66% FRL); South Terrebonne High School (math 38% / reading 47%, grade F, #68 of 265 statewide, top 25%, 914 students, 52% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 206 active listings in the ZIP; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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: 2.65% ✓
• Cap rate: 23.16%
• Cash-on-cash: 60.22%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (median comp): $202,879
• List price: $170,000
• Delta: -16.21%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 57.2%
• Equity multiple: 3.53×
• Total profit: $120,476
• Equity at exit: $25,348

10-year hold

• IRR: 62.1%
• Equity multiple: 7.21×
• Total profit: $295,815
• Equity at exit: $14,698

Cash invested: $47,600 (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 70363

• Active inventory: 206
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $4,511 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$947
• Net cashflow: $2,322

Break-even live

Break-even rent $1,571

Max offer price $170,000

Occupancy floor 44%

Sensitivity live

Price	-10% $2,440	-5% $2,381	+0% $2,322	+5% $2,264	+10% $2,205
Rent	-10% $1,966	-5% $2,144	+0% $2,322	+5% $2,501	+10% $2,679
Rate	-1.0pp $2,408	-0.5pp $2,366	base $2,322	+0.5pp $2,278	+1.0pp $2,234

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,240
1× unit	1	1	$1,122
1× unit	3	1.5	$1,148
Total (4 units)			$4,511

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-14
   days on market $170,000 Active 149 DOM
2. 2026-06-13
   days on market $170,000 Active 148 DOM
3. 2026-06-10
   days on market $170,000 Active 146 DOM
4. 2026-06-09
   days on market $170,000 Active 145 DOM
5. 2026-06-08
   days on market $170,000 Active 144 DOM
6. 2026-06-07
   days on market $170,000 Active 143 DOM
7. 2026-06-05
   days on market $170,000 Active 140 DOM
8. 2026-06-03
   days on market $170,000 Active 139 DOM
9. 2026-06-02
   days on market $170,000 Active 138 DOM
10. 2026-06-01
    days on market $170,000 Active 137 DOM
11. 2026-05-31
    days on market $170,000 Active 136 DOM
12. 2026-05-30
    days on market $170,000 Active 135 DOM
13. 2026-01-15
    listed $170,000 Active 1109-char remark

    Show marketing remark (1106 chars)

    Calling all investors! Value-add multi-unit opportunity featuring four units across three separate buildings, offering immediate income with additional upside. Unit A is currently rented, Unit B is vacant and rent-ready, while Units C and D are vacant and in need of renovation, creating a clear path to increased cash flow. The property offers a versatile unit mix, including two 2-bedroom/1-bath units (Units A & B), a 1-bedroom/1-bath standalone unit (Unit C), and a spacious two-story 3-bedroom/1.5-bath standalone unit (Unit D). Units C and D are located in their own separate buildings, providing added privacy and flexibility for future rental strategies. With one unit already producing income and another ready to be leased immediately, investors can begin generating returns while renovating the remaining units at their own pace. Once updated, the vacant units present strong potential for higher rents and long-term appreciation. An excellent opportunity for investors seeking a multi-unit property with immediate cash flow, value-add potential, and multiple income streams in one location.

14. 2026-01-15
    listed $170,000 Active 1106-char remark

    Show marketing remark (1106 chars)

    Calling all investors! Value-add multi-unit opportunity featuring four units across three separate buildings, offering immediate income with additional upside. Unit A is currently rented, Unit B is vacant and rent-ready, while Units C and D are vacant and in need of renovation, creating a clear path to increased cash flow. The property offers a versatile unit mix, including two 2-bedroom/1-bath units (Units A & B), a 1-bedroom/1-bath standalone unit (Unit C), and a spacious two-story 3-bedroom/1.5-bath standalone unit (Unit D). Units C and D are located in their own separate buildings, providing added privacy and flexibility for future rental strategies. With one unit already producing income and another ready to be leased immediately, investors can begin generating returns while renovating the remaining units at their own pace. Once updated, the vacant units present strong potential for higher rents and long-term appreciation. An excellent opportunity for investors seeking a multi-unit property with immediate cash flow, value-add potential, and multiple income streams in one location.

ⓘ 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 X (shaded) · 99% 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: $54,132
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$1,648
• − Repairs & maintenance: −$4,331
• − Management: −$4,331
• − Depreciation: −$4,945
• Taxable income: $26,805
• Est. tax owed @ 24.0%: −$6,433
• After-tax cash flow: $21,436/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value for both resale and rental purposes.

Repairs flagged

• Major Appliances — Old and worn, likely not functioning properly
• Major Bathrooms — Dated fixtures and paint need updating
• Major Exterior siding — Wear and tear, may need repainting or replacement
• Major Windows — Old and may need replacement
• Major HVAC — No visible signs of recent maintenance

Value-add opportunities

• Both Appliances — Modern appliances would attract tenants and buyers
• Both Bathrooms — Updated bathrooms would improve both resale and rental value
• Both Exterior siding — Fresh paint and siding would enhance curb appeal
• Both Windows — New windows would improve energy efficiency and appearance
• Both HVAC — Modern HVAC would improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Old and worn, likely not functioning properly	Major	$15,000–50,000
Bathrooms · Dated fixtures and paint need updating	Major	$15,000–50,000
Exterior siding · Wear and tear, may need repainting or replacement	Major	$15,000–50,000
Windows · Old and may need replacement	Major	$15,000–50,000
HVAC · No visible signs of recent maintenance	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Appliances — Modern appliances would attract tenants and buyers ↑
• Both Bathrooms — Updated bathrooms would improve both resale and rental value ↑
• Both Exterior siding — Fresh paint and siding would enhance curb appeal ↑
• Both Windows — New windows would improve energy efficiency and appearance ↑
• Both HVAC — Modern HVAC would improve comfort and energy efficiency ↑

ⓘ 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
• City population: 57,290
• Population (ZIP): 24,668

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 22% Hispanic / Latino 9% Two or more races 8% Native American 8%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 16% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 4%

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: ▼ -99.27%
• Current HPI: 91.3914
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-01-15 Listed $170,000 GBRMLS
• 2026-01-15 Listed $170,000 AcadianaMLS