2404 Kingbird Dr

Poydras, LA 70085

$115,000B

3 bd · 2.0 ba · 1,237 sqft · Built 1971 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,278/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $215/mo
• Annual: $2,578/yr
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($795 loan paydown + $6k appreciation (5.5% local appreciation)).
• Location reads 58/100 on livability (#309 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.
• Market conditions: 95 active listings in the ZIP; 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.