136 Blueberry Hill St

Boutte, LA 70039

$172,900B+

4 bd · 2.0 ba · 2,128 sqft · Built 2022 · Manufactured · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,200/mo
• Mortgage (P&I): −$907
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$462
• Net cashflow: $642/mo
• Annual: $7,703/yr
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• 1% rule: 1.27%
• Cash to close: $48,412

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $173k. Condition is rated good.
• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $173k).
• It's been on market 16 days — a 2% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (1.5% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#124 in LA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• St. Charles Parish (suburban): math 40% / reading 51% proficiency, ranked #14 of 98 in LA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Luling Elementary School (math 27% / reading 29%, grade F, #355 of 646 statewide, top 55%, 734 students, 68% FRL); R.K. Smith Middle School (math 24% / reading 51%, grade F, #75 of 218 statewide, top 35%, 342 students, 67% FRL); Hahnville High School (math 40% / reading 46%, grade F, #66 of 265 statewide, top 25%, 1,491 students, 44% FRL).
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 74 units permitted in St. Charles Parish in 2024 (0 in 5+ unit buildings).
• St. Charles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.