3615 Thomas Dr · Houma, LA 70363

$90,000

3 bd · 2.0 ba · 1,028 sqft · Other · 153 Days on market

Built 2022 7,840 sqft lot

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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
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

Key facts

• Spacious backyard
• Walk-in closet
• Open living area

Tags

• OPEN LIVING AREA
• BREAKFAST BAR
• AMPLE CABINET STORAGE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $90k implies a 200% gain — meaningful room to come down on a strong offer.

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 $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 12.41%
• Cash-on-cash: 21.84%
• DSCR: 1.97
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.5%
• Equity multiple: 1.41×
• Total profit: $10,436
• Equity at exit: $13,419

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $41,422
• Equity at exit: $7,782

Cash invested: $25,200 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$82 /mo · $983/yr
• Insurance: −$38
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $392

Break-even live

Break-even rent $833

Max offer price $90,000

Occupancy floor 65%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-05
   status Pending 692-char remark

   Show marketing remark (692 chars)

   Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

2. 2026-05-05
   status Pending 692-char remark

   Show marketing remark (692 chars)

   Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

3. 2026-03-06
   price $90,000 692-char remark

   Show marketing remark (692 chars)

   Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

4. 2026-03-06
   price $90,000 692-char remark

   Show marketing remark (692 chars)

   Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

5. 2025-12-03
   listed $100,000 Active 692-char remark

   Show marketing remark (692 chars)

   Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

6. 2025-12-03
   listed $100,000 Active 692-char remark

   Show marketing remark (692 chars)

   Welcome to 3615 Thomas Dr. This 3-year-old home offers 3 bedrooms, 2 bathrooms, and 1,028 sq ft of living space. Entering the home, you step into an open living area that connects directly to the kitchen and dining space. The kitchen includes a breakfast bar with stool seating, ample cabinet storage, and an efficient layout for everyday use. The primary bedroom is located off the main living area and features an en-suite bathroom and a walk-in closet. The additional bedrooms are positioned on the opposite side of the home with convenient access to the second full bathroom. The property includes a spacious backyard with plenty of usable open space. Schedule your private showing today!

7. 2021-04-08
   soldstatus
8. 2021-04-08
   soldstatus $30,000
9. 2021-03-20
   listed $15,000
10. 2021-03-20
    listed $15,000
11. 2017-05-17
    listed $11,500
12. 2015-09-21
    listed $14,900

ⓘ 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: $983 · $82/mo
• Projected year-2 tax: $983 · $82/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 8/10 Severe FEMA zone X (shaded) · 98% 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: $15,949
• − Mortgage interest: −$5,041
• − Property taxes: −$983
• − Insurance: −$1,248
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$2,618
• Taxable income: $3,508
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $3,864/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: 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

• 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

+504.0% since first listed

12 events — show timeline

• 2026-05-05 Pending — AcadianaMLS
• 2026-05-05 Pending — GBRMLS
• 2026-03-06 Price Changed $90,000 AcadianaMLS
• 2026-03-06 Price Changed $90,000 GBRMLS
• 2025-12-03 Listed $100,000 GBRMLS
• 2025-12-03 Listed $100,000 AcadianaMLS
• 2021-04-08 Sold (Public Records) $30,000 Public Records
• 2021-04-08 Sold (MLS) — GBRMLS
• 2021-03-20 Listed $15,000 GBRMLS
• 2021-03-20 Listed $15,000 AcadianaMLS
• 2017-05-17 Listed $11,500 GBRMLS
• 2015-09-21 Listed $14,900 GBRMLS

Property tax history

+21.7%/yr

Latest (2025): $983 · -2.0% YoY. Source: county tax records.