242 / 244 Saint Peter St · Houma, LA 70363

$99,500

None bd · None ba · 1,340 sqft · Manufactured · 58 Days on market

5,619 sqft lot $74/sqft · 13% above area Est $88k · 13% over

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Why this score? — see what drove the C 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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

CALLING ALL INVESTORS!!! Bank Owned Property and offers are welcome!! Duplex with each unit having 2 bedrooms and 2 baths. One unit is vacant and mostly updated. The second unit is not updated and occupied month to month by a tenant paying $575.00. Must get confirmation with tenant to show. All measurements are approximate and to verified by a certified appraiser. Buyer to verify flood zone.

Key facts

• 5,619 sq ft lot
• 4 parking spots
• Listed 58 days

Property features AI

Exterior

• Parking: Parking lot with 4 parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property (duplex)
• Construction: Vinyl siding; Other exterior materials; Shingle roof; Slab foundation; Built as a duplex
• Exterior features: Wood fencing; Level lot

Interior

• Kitchen: Range; Oven
• Flooring: Tile; Ceramic tile; Vinyl
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Range and oven included; Tile and ceramic tile flooring, plus vinyl flooring
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $-77 ($-929/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (13.7% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $86k (13.7% below list) — sets the bar for cash-flow.
• Cap rate 10.5% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; 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 $10k; list at $100k implies a 905% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,822 (13.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.20% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.04%
• DSCR: 1.67
• GRM: 6.9

CMA / ARV

• ARV (median comp): $88,058
• List price: $99,500
• Delta: 12.99%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.6%
• Equity multiple: 0.25×
• Total profit: $-20,830
• Equity at exit: $14,836

10-year hold

• IRR: -14.6%
• Equity multiple: 0.15×
• Total profit: $-23,574
• Equity at exit: $8,603

Cash invested: $27,860 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,199 high
• Mortgage (P&I): −$522
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-77

Break-even live

Break-even rent $1,297

Max offer price $85,822

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-49	+0% $-77	+5% $-106	+10% $-134
Rent	-10% $-172	-5% $-125	+0% $-77	+5% $-30	+10% $17
Rate	-1.0pp $-27	-0.5pp $-52	base $-77	+0.5pp $-103	+1.0pp $-129

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Saint Malo St Houma, LA	3.0	1.0	951	$1,050	$1.10	44d	1	0.35mi
1300 Laban Ave Houma, LA	1.0–3.0	1.0–1.5	896	$1,106	$1.23	44d	41	0.56mi
100 Chateau Ct Houma, LA	2.0	2.5	988	$1,262	$1.28	44d	5	0.64mi
179 Garnet St Unit B Houma, LA	3.0	1.0	1100	$1,200	$1.09	44d	1	1.32mi
735 A School St Unit A Houma, LA	3.0	2.0	1450	$1,600	$1.10	44d	1	1.36mi
717 Wood St Houma, LA	3.0	2.0	1534	$1,300	$0.85	44d	1	1.37mi

Listing history 21 events

1. 2026-06-21
   days on market $99,500 Active 58 DOM
2. 2026-06-19
   days on market $99,500 Active 56 DOM
3. 2026-06-18
   days on market $99,500 Active 55 DOM
4. 2026-06-17
   days on market $99,500 Active 54 DOM
5. 2026-06-16
   days on market $99,500 Active 53 DOM
6. 2026-06-15
   days on market $99,500 Active 52 DOM
7. 2026-06-14
   days on market $99,500 Active 50 DOM
8. 2026-06-13
   days on market $99,500 Active 49 DOM
9. 2026-06-10
   days on market $99,500 Active 47 DOM
10. 2026-06-09
    days on market $99,500 Active 46 DOM
11. 2026-06-08
    days on market $99,500 Active 45 DOM
12. 2026-06-07
    days on market $99,500 Active 44 DOM
13. 2026-06-05
    days on market $99,500 Active 41 DOM
14. 2026-06-03
    pricedays on market $99,500 Active 40 DOM

    Show marketing remark (394 chars)

    CALLING ALL INVESTORS!!! Bank Owned Property and offers are welcome!! Duplex with each unit having 2 bedrooms and 2 baths. One unit is vacant and mostly updated. The second unit is not updated and occupied month to month by a tenant paying $575.00. Must get confirmation with tenant to show. All measurements are approximate and to verified by a certified appraiser. Buyer to verify flood zone.

15. 2026-06-02
    days on market $110,000 Active 39 DOM
16. 2026-06-01
    days on market $110,000 Active 38 DOM
17. 2026-05-31
    days on market $110,000 Active 37 DOM
18. 2026-05-30
    days on market $110,000 Active 36 DOM
19. 2026-04-23
    listed $110,000 Active 291-char remark

    Show marketing remark (394 chars)

    CALLING ALL INVESTORS!!! Bank Owned Property and offers are welcome!! Duplex with each unit having 2 bedrooms and 2 baths. One unit is vacant and mostly updated. The second unit is not updated and occupied month to month by a tenant paying $575.00. Must get confirmation with tenant to show. All measurements are approximate and to verified by a certified appraiser. Buyer to verify flood zone.

20. 2026-04-23
    listed $110,000 Active 291-char remark

    Show marketing remark (394 chars)

    CALLING ALL INVESTORS!!! Bank Owned Property and offers are welcome!! Duplex with each unit having 2 bedrooms and 2 baths. One unit is vacant and mostly updated. The second unit is not updated and occupied month to month by a tenant paying $575.00. Must get confirmation with tenant to show. All measurements are approximate and to verified by a certified appraiser. Buyer to verify flood zone.

21. 1999-07-01
    soldstatus $9,900

ⓘ 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: $416 · $35/mo
• Projected year-2 tax: $547 · $46/mo
• Expected delta: +$131/yr (+$11/mo · 31.4%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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: $14,386
• − Mortgage interest: −$5,574
• − Property taxes: −$416
• − Insurance: −$5,616
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$2,895
• Taxable loss: −$2,416
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $-349/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

• Census place: Houma, LA
• 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

+905.1% since first listed

5 events — show timeline

• 2026-06-03 Price Changed $99,500 AcadianaMLS
• 2026-06-03 Price Changed $99,500 GBRMLS
• 2026-04-23 Listed $110,000 GBRMLS
• 2026-04-23 Listed $110,000 AcadianaMLS
• 1999-07-01 Sold (Public Records) $9,900 Public Records

Property tax history

+17.3%/yr

Latest (2025): $416 · -2.3% YoY. Source: county tax records.