4524 Ehrhard Dr

Meraux, LA 70075

$217,000C-

3 bd · 2.0 ba · 1,589 sqft · Built 1991 · SingleFamily · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$1,138
• Tax + insurance: −$275
• HOA: −$4
• Vac / Maint / Mgmt: −$378
• Net cashflow: $5/mo
• Annual: $55/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• 1% rule: 0.83%
• Cash to close: $60,760

Investor read

• This is a 3-bed/2.0-bath single-family listed at $217k.
• At list price, monthly cash flow is $5 ($55/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (17.1% below list).
• It's been on market 146 days — a 12% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (17.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#152 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime D, amenities F, commute F.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 64 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 8 sale attempts since 28y ago; this cycle's ask has dropped $32k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $187k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 5.2% in Meraux — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 17% 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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?
• 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.