30381 Highway 23 Hwy

Empire, LA 70041

$205,000C

5 bd · 3.0 ba · 3,728 sqft · Built 1982 · SingleFamily · Active · 877 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,087/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$668
• HOA: −$0
• Vac / Maint / Mgmt: −$438
• Net cashflow: $-94/mo
• Annual: $-1,125/yr
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• 1% rule: 1.02%
• Cash to close: $57,400

Investor read

• This is a 5-bed/3.0-bath single-family listed at $205k.
• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (8.1% below list).
• Meets the 1% rule at list price ($2k rent vs $205k).
• It's been on market 877 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• In year one you build about $824 of equity ($1k loan paydown + $-593 appreciation (-0.3% local appreciation)).
• Location reads 56/100 on livability (#335 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Zoned schools: Boothville-Venice Elementary School (math 37% / reading 57%, grade D-, #151 of 646 statewide, top 24%, 288 students, 100% FRL); Belle Chasse Middle School (math 40% / reading 44%, grade D-, #59 of 218 statewide, top 27%, 721 students, 62% FRL); South Plaquemines High School (math 18% / reading 43%, grade F, #124 of 265 statewide, top 47%, 412 students, 100% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 52 active listings in the ZIP; 88 units permitted in Plaquemines Parish in 2024 (0 in 5+ unit buildings).
• Plaquemines County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 9 sale attempts since 5y ago; this cycle's ask is 8100% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 877 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.