1001 Michael St · Patterson, LA 70392

$160,000

3 bd · 2.0 ba · 1,212 sqft · SingleFamily · 126 Days on market

Built 1976 6,534 sqft lot Est $137k · 17% over

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Why this score? — see what drove the D- 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 +16.8/30.0
• DSCR +5.2/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

Key facts

• New toilets
• New ceiling fans
• New ac ducts

Tags

• CORNER LOT
• NEW AC DUCTS
• NEW WINDOWS
• NEW CEILING FANS
• NEW VANITIES
• NEW TOILETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $36 ($427/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (12.5% below list).
• Recommended offer: $140k (12.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#101 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment D-.
• St. Mary Parish (town): math 28% / reading 39% proficiency, ranked #37 of 98 in LA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hattie A. Watts Elementary School (math 47% / reading 55%, grade C-, #120 of 646 statewide, top 19%, 609 students, 76% FRL); Patterson Junior High School (math 17% / reading 34%, grade F, #139 of 218 statewide, top 64%, 412 students, 70% FRL); Patterson High School (math 32% / reading 42%, grade F, #98 of 265 statewide, top 38%, 452 students, 72% FRL) — zoned schools at 73% FRL track the district average.
• Market conditions: 30 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 37 units permitted in St. Mary Parish in 2024 (20 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.
• St. Mary County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $160k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000 (12.5% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $136,956
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 Michael St	0.00mi	3/2.0	1,212 (0%)	1mo	$160,000	$132	99
613 Park St	0.32mi	3/2.0	1,149 (-5%)	6mo	$58,000	$50	72
432 Tiffany Rd	0.67mi	3/2.0	1,296 (+7%)	5mo	$135,000	$104	53
617 Kem St	0.68mi	3/1.0	1,248 (+3%)	8mo	$150,000	$120	53
407 Tiffany St	0.63mi	3/2.0	1,097 (-10%)	3mo	$165,000	$150	52
119 Domino St	0.57mi	3/2.0	1,308 (+8%)	10mo	$90,000	$69	52
303 Camille Dr	0.45mi	3/2.0	1,391 (+15%)	15mo	$187,000	$134	42
105 Church St	0.39mi	2/2.0 (-1)	1,080 (-11%)	21mo	$120,000	$111	41
416 Tiffany St	0.62mi	3/1.0	1,030 (-15%)	6mo	$85,000	$83	37
602 Kem St	0.59mi	3/2.0	1,370 (+13%)	18mo	$155,000	$113	35

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-23,664
• Equity at exit: $23,857

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-17,693
• Equity at exit: $13,834

Cash invested: $44,800 (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 70392

• Home prices YoY: -30.3%
• Active inventory: 30
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $36

Break-even live

Break-even rent $1,355

Max offer price $160,000

Occupancy floor 92%

Sensitivity live

Price	-10% $126	-5% $81	+0% $36	+5% $-10	+10% $-55
Rent	-10% $-75	-5% $-20	+0% $36	+5% $91	+10% $146
Rate	-1.0pp $116	-0.5pp $76	base $36	+0.5pp $-6	+1.0pp $-48

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
731 Kem St Patterson, LA	3.0	2.0	1428	$1,400	$0.98	15d	1	0.85mi

Listing history 16 events

1. 2026-04-21
   status Pending 884-char remark

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

2. 2026-04-21
   status Pending

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

3. 2026-03-13
   status Active 884-char remark

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

4. 2026-03-13
   status Active

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

5. 2026-03-03
   status Pending 884-char remark

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

6. 2026-03-03
   status Pending

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

7. 2026-02-18
   price $160,000 884-char remark

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

8. 2026-02-18
   price $160,000

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

9. 2026-01-14
   price $170,000 884-char remark

   Show marketing remark (884 chars)

   CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

10. 2026-01-14
    price $170,000

    Show marketing remark (884 chars)

    CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

11. 2025-12-06
    listed $175,000 Active

    Show marketing remark (884 chars)

    CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

12. 2025-12-06
    listed $175,000 Active 884-char remark

    Show marketing remark (884 chars)

    CHARMING CORNER LOT HOME IN THE HEART OF PATTERSON! Welcome to 1001 Michael Street, a beautifully maintained 3 bedroom, 2 bull bath home offering comfort and convenience. The home has a roof that is only 3 years old, new ac ducts, new windows, new ceiling fans, new vanities, toilets and baths, and a new breaker panel. With approximately 1300 sq. ft. of living space, this home provides a spacious layout perfect for families, first time buyers, or anyone looking for an inviting place to call home. Step inside to find a bright and open living area that flows easily into the kitchen and dining spaces. Outside, the property offers plenty of room to relax or entertain. Located in a friendly, established neighborhood, this home offers quick access to local schools, shopping, dining, and Highway 90 for easy commuting. No flood insurance required! Call to schedule a showing today.

13. 2013-10-21
    soldstatus $68,000
14. 2012-09-19
    listed $71,500
15. 2011-08-03
    listed $106,000
16. 2000-03-22
    soldstatus $44,000

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

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $1,179 · $98/mo
• Projected year-2 tax: $1,179 · $98/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 24 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: $16,800
• − Mortgage interest: −$8,962
• − Property taxes: −$1,179
• − Insurance: −$1,598
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$4,655
• Taxable loss: −$2,282
• Est. tax savings @ 24.0%: +$548
• After-tax cash flow: $974/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.

Schools (NCES district)

• District: St. Mary Parish
• NCES district ID: 2201620
• Math proficiency: 28% ▼ -40.00%
• Reading proficiency: 39% ▼ -33.00%
• Median HH income: $39,843
• Composite: 28.1/100
• National rank: #6828
• State rank: #37 of 98 in LA

Livability — Patterson

• Score: 68/100
• State rank: #101
• US rank: #10077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Patterson, LA
• City population: 8,158
• Population (ZIP): 8,158

Population outlook (St. Mary County) Hauer SSP2

• Today (2025): 49,510 people
• By 2030: 47,570 · -3.9%
• By 2040: 43,880 · -11.4%
• By 2050: 40,655 · -17.9%
• By 2075: 37,190 · -24.9%
• By 2100: 38,101 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 53% Black 39% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · St. Mary

• 2024 margin: Solid R (+31.9) · D 33.5% · R 65.4% · Other 1.0%
• 2008→2024 swing: -15.1pp toward R · 2008: -16.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+29.1 2016: R+27.6 2012: R+18.8 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.27%
• Current HPI: 115.661
• 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

+263.6% since first listed

16 events — show timeline

• 2026-04-21 Pending — AcadianaMLS
• 2026-04-21 Pending — GBRMLS
• 2026-03-13 Relisted — AcadianaMLS
• 2026-03-13 Relisted — GBRMLS
• 2026-03-03 Pending — AcadianaMLS
• 2026-03-03 Pending — GBRMLS
• 2026-02-18 Price Changed $160,000 AcadianaMLS
• 2026-02-18 Price Changed $160,000 GBRMLS
• 2026-01-14 Price Changed $170,000 AcadianaMLS
• 2026-01-14 Price Changed $170,000 GBRMLS
• 2025-12-06 Listed $175,000 GBRMLS
• 2025-12-06 Listed $175,000 AcadianaMLS
• 2013-10-21 Sold (Public Records) $68,000 Public Records
• 2012-09-19 Listed $71,500 AcadianaMLS
• 2011-08-03 Listed $106,000 AcadianaMLS
• 2000-03-22 Sold (Public Records) $44,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,179 · +6.6% YoY. Source: county tax records.