57706 Plaquemine St

Plaquemine, LA 70764

$79,500B+

2 bd · 1.0 ba · 1,263 sqft · Built — · SingleFamily · Active · 272 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,709/mo
• Mortgage (P&I): −$417
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $835/mo
• Annual: $10,024/yr
• Cap rate: 18.90%
• Cash-on-cash: 45.03%
• DSCR: 3.00
• 1% rule: 2.15%
• Cash to close: $22,260

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated average.
• At list price, monthly cash flow is $835 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 272 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#238 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Iberville Parish (rural): math 23% / reading 34% proficiency, ranked #45 of 98 in LA (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Iberville Elementary School (math 25% / reading 35%, grade F, #328 of 646 statewide, top 51%, 964 students, 74% FRL); Plaquemine Senior High School (math 23% / reading 36%, grade F, #127 of 265 statewide, top 49%, 1,131 students, 66% FRL).
• Market conditions: 181 active listings in the ZIP; 117 units permitted in Iberville Parish in 2024 (0 in 5+ unit buildings).
• Iberville County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 11 sale attempts since 10y ago; this cycle's ask has dropped $26k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: 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.
• Cap rate 18.9% vs local median 5.5% in Plaquemine — 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.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 F 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops — Scratches and minor wear on the countertops.
• Minor: Bathroom fixtures — Scratches and minor wear on the sink and bathtub.
• Minor: Exterior siding — Visible signs of wear and discoloration on the siding.
• Minor: Foundation cracks — Minor cracks and discoloration on the foundation.