240 Cenac St · Houma, LA 70364

$40,000

2 bd · 1.0 ba · 834 sqft · Other · 18 Days on market

Built 1974 2,613 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced for the numbers, not the staging. This is a straightforward flip or entry-level fixer-upper for a buyer who knows how to swing a hammer or hire someone who does. The bones are here. The layout runs efficiently down a central hallway, with the kitchen and living space anchoring one end and bedrooms off the run. Some of the work is already started: the kitchen has a gas range, stainless dishwasher, modest cabinets, and a refrigerator that conveys. This one needs work, and we're not hiding it. Plan for subfloor repairs and budget for a new roof – build both into your numbers up front. Beyond that, the remaining scope is cosmetic: flooring, paint, trim, ceiling treatment, and fixtu

Key facts

• Interior laundry
• Refrigerator conveys
• Stainless dishwasher

Tags

• GAS RANGE
• STAINLESS DISHWASHER
• REFRIGERATOR CONVEYS
• INTERIOR LAUNDRY
• PAINTED BRICK

Property features AI

Exterior

• Parking: Open parking; Off-street and on-street parking; Gravel parking area
• Utilities: Public water; Gas water heater
• Home design: Detached single-family residence; Single-story; Located in the Aubin Guidry subdivision
• Construction: Frame construction; Composition roof; Pillar/post/pier foundation; Built as residential single-family
• Exterior features: Partial wood fencing; Level lot; Porch

Interior

• Kitchen: Range; Oven; Dishwasher; Refrigerator
• Flooring: Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace (natural gas); Window air conditioning units
• Interior features: Eat-in kitchen; Porch
• Laundry & utility: Washer hookup inside; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.6% 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: 311 active listings in the ZIP; 7 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 $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago 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.

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 $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.97% ✓
• Cap rate: 26.57%
• Cash-on-cash: 72.43%
• DSCR: 4.22
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.1%
• Equity multiple: 1.86×
• Total profit: $9,679
• Equity at exit: $5,964

10-year hold

• IRR: 29.5%
• Equity multiple: 3.68×
• Total profit: $29,991
• Equity at exit: $3,458

Cash invested: $11,200 (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 70364

• Active inventory: 311
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,188 high
• Mortgage (P&I): −$210
• Tax from tax record: −$36 /mo · $435/yr
• Insurance: −$17
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $249

Break-even live

Break-even rent $872

Max offer price $40,000

Occupancy floor 74%

Sensitivity live

Price	-10% $272	-5% $261	+0% $249	+5% $238	+10% $227
Rent	-10% $156	-5% $203	+0% $249	+5% $296	+10% $343
Rate	-1.0pp $270	-0.5pp $260	base $249	+0.5pp $239	+1.0pp $229

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
179 Garnet St Unit B Houma, LA	3.0	1.0	1100	$1,200	$1.09	44d	1	0.09mi
885 High St Houma, LA	2.0	1.0	801	$1,100	$1.37	44d	1	0.70mi
624 Gabasse St Unit 1 Houma, LA	1.0	1.0	750	$975	$1.30	44d	1	0.70mi
810 Saadi St Houma, LA	2.0	1.0	754	$1,300	$1.72	44d	3	1.05mi
1140 Church St Unit B Houma, LA	2.0	1.0	1000	$1,150	$1.15	44d	1	1.11mi
100 Chateau Ct Houma, LA	2.0	2.5	988	$1,262	$1.28	44d	5	1.25mi
211 Saint Malo St Houma, LA	3.0	1.0	951	$1,050	$1.10	44d	1	1.30mi

Listing history 15 events

1. 2026-06-19
   days on market $40,000 Active 18 DOM
2. 2026-06-18
   days on market $40,000 Active 17 DOM
3. 2026-06-17
   days on market $40,000 Active 16 DOM
4. 2026-06-16
   days on market $40,000 Active 15 DOM
5. 2026-06-15
   days on market $40,000 Active 14 DOM
6. 2026-06-14
   days on market $40,000 Active 12 DOM
7. 2026-06-13
   days on market $40,000 Active 11 DOM
8. 2026-06-10
   days on market $40,000 Active 9 DOM
9. 2026-06-09
   days on market $40,000 Active 8 DOM
10. 2026-06-08
    days on market $40,000 Active 7 DOM
11. 2026-06-07
    days on market $40,000 Active 6 DOM
12. 2026-06-05
    days on market $40,000 Active 3 DOM
13. 2026-06-03
    days on market $40,000 Active 2 DOM
14. 2026-06-01
    remarks 693-char remark
15. 2026-06-01
    listed $40,000 Active 1 DOM

ⓘ 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: $435 · $36/mo
• Projected year-2 tax: $435 · $36/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% 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: $14,258
• − Mortgage interest: −$2,241
• − Property taxes: −$435
• − Insurance: −$5,318
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$1,164
• Taxable income: $2,820
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $2,317/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
• County: Terrebonne Parish · 57,290 people
• City population: 57,290
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 28,716
• Household income: $68,843
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 387.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 16% Hispanic / Latino 9% Two or more races 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 17% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -99.75%
• Current HPI: 113.1047
• Rent YoY: —
• Metro: Houma-Thibodaux, LA
• 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

+29.4% since first listed

10 events — show timeline

• 2026-06-01 Listed $40,000 GBRMLS
• 2011-12-30 Listed $19,000 AcadianaMLS
• 2009-09-17 Listed $93,500 AcadianaMLS
• 2009-09-17 Listed $93,500 GBRMLS
• 2009-09-17 Listed $93,500 GBRMLS
• 2006-05-01 Sold (Public Records) $56,000 Public Records
• 2005-08-02 Listed $58,000 GBRMLS
• 2005-08-02 Listed $58,000 AcadianaMLS
• 2005-08-02 Listed $58,000 GBRMLS
• 1993-11-18 Sold (Public Records) $30,900 Public Records

Property tax history

+1.3%/yr

Latest (2025): $435 · -2.3% YoY. Source: county tax records.