510 Wayne St · Opelousas, LA 70570

$23,900

3 bd · 1.0 ba · 1,062 sqft · SingleFamily · 83 Days on market

7,840 sqft lot $23/sqft · 59% below area ↓ 50% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Opelousas, this property features 3 bedrooms, 1-bathroom, covered parking, and a spacious backyard including a shed and storage. Great opportunity to make this space your own. Schedule your showing!

Key facts

• Exterior storage
• Covered parking
• 7,840 sq ft lot

Tags

• COVERED PARKING
• EXTERIOR STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $22k (6.0% below list) — sets the bar for market timing.
• Cap rate 40.3% vs local median 4.0% in Opelousas — 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 63/100 on livability (#187 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.
• St. Landry Parish (town): math 20% / reading 33% proficiency, ranked #54 of 98 in LA (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Opelousas Junior High School (math 4% / reading 12%, grade F, #205 of 218 statewide, top 94%, 456 students, 84% FRL); Opelousas Senior High School (math 11% / reading 18%, grade F, #224 of 265 statewide, top 86%, 840 students, 77% FRL).
• Zoned-school proficiency averages 11% at this address vs 26% district-wide (-15 pts) — the specific schools serving this property underperform the St. Landry Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 313 active listings in the ZIP; 142 units permitted in St. Landry Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $165 of loan paydown is wiped out by about $717 of value loss. Plan a longer hold.
• St. Landry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.37% ✓
• Cap rate: 40.28%
• Cash-on-cash: 121.39%
• DSCR: 6.40
• GRM: 1.9

CMA / ARV

• ARV (median comp): $58,824
• List price: $23,900
• Delta: -59.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 W Bertheaud Ave	0.10mi	2/1.0 (-1)	1,000 (-6%)	17mo	$60,000	$60	66
1438 Parkview Dr	0.08mi	2/1.0 (-1)	1,200 (+13%)	22mo	$35,000	$29	51
115 E Bertheaud Ave	0.44mi	3/1.5	1,125 (+6%)	23mo	$35,000	$31	49
114 E Jefferson St	0.56mi	2/2.5 (-1)	1,185 (+12%)	14mo	$65,000	$55	32
1427 Hale St	0.74mi	3/2.0	1,150 (+8%)	20mo	$135,000	$117	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.87×
• Total profit: $39,249
• Equity at exit: $3,564

10-year hold

• IRR: —
• Equity multiple: 14.41×
• Total profit: $89,718
• Equity at exit: $2,066

Cash invested: $6,692 (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 70570

• Home prices YoY: -34.7%
• Active inventory: 313
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,045 medium
• Mortgage (P&I): −$125
• Tax from tax record: −$13 /mo · $158/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $677

Break-even live

Break-even rent $188

Max offer price $23,900

Occupancy floor 30%

Sensitivity live

Price	-10% $690	-5% $684	+0% $677	+5% $670	+10% $663
Rent	-10% $594	-5% $636	+0% $677	+5% $718	+10% $760
Rate	-1.0pp $689	-0.5pp $683	base $677	+0.5pp $671	+1.0pp $664

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: $5,975
• Closing costs: $717
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-24
   status Active 209-char remark

   Show marketing remark (209 chars)

   Located in Opelousas, this property features 3 bedrooms, 1-bathroom, covered parking, and a spacious backyard including a shed and storage. Great opportunity to make this space your own. Schedule your showing!

2. 2026-04-22
   status Pending 209-char remark

   Show marketing remark (209 chars)

   Located in Opelousas, this property features 3 bedrooms, 1-bathroom, covered parking, and a spacious backyard including a shed and storage. Great opportunity to make this space your own. Schedule your showing!

3. 2026-04-13
   price $23,900 209-char remark

   Show marketing remark (209 chars)

   Located in Opelousas, this property features 3 bedrooms, 1-bathroom, covered parking, and a spacious backyard including a shed and storage. Great opportunity to make this space your own. Schedule your showing!

4. 2026-02-26
   listed $24,900 Active 209-char remark

   Show marketing remark (209 chars)

   Located in Opelousas, this property features 3 bedrooms, 1-bathroom, covered parking, and a spacious backyard including a shed and storage. Great opportunity to make this space your own. Schedule your showing!

5. 2004-10-11
   soldstatus $49,000
6. 2004-06-29
   listed $48,000

ⓘ 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: $158 · $13/mo
• Projected year-2 tax: $158 · $13/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 20 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: $12,538
• − Mortgage interest: −$1,339
• − Property taxes: −$158
• − Insurance: −$120
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$695
• Taxable income: $8,220
• Est. tax owed @ 24.0%: −$1,973
• After-tax cash flow: $6,151/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: St. Landry Parish
• NCES district ID: 2201560
• Math proficiency: 20% ▼ -43.00%
• Reading proficiency: 33% ▼ -35.00%
• Median HH income: $32,635
• Composite: 21.59/100
• National rank: #8303
• State rank: #54 of 98 in LA

Livability — Opelousas

• Score: 63/100
• State rank: #187
• US rank: #14928

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Opelousas, LA
• Population (ZIP): 37,188

Population outlook (St. Landry County) Hauer SSP2

• Today (2025): 83,114 people
• By 2030: 82,110 · -1.2%
• By 2040: 79,445 · -4.4%
• By 2050: 75,855 · -8.7%
• By 2075: 65,684 · -21.0%
• By 2100: 51,739 · -37.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 55% White 37% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Lithuanian 8%
• Foreign-born: 1% · Canada
• Languages at home: 92% English-only · French/Haitian/Cajun 5% Spanish 3%

Political lean MEDSL · St. Landry

• 2024 margin: R (+18.8) · D 40.0% · R 58.9% · Other 1.1%
• 2008→2024 swing: -15.6pp toward R · 2008: -3.2pp · 2024: -18.8pp
• All cycles: 2024: R+18.8 2020: R+14.1 2016: R+11.9 2012: R+4.3 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.38%
• Current HPI: 98.4256
• 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

-50.2% since first listed

6 events — show timeline

• 2026-04-24 Relisted — AcadianaMLS
• 2026-04-22 Pending — AcadianaMLS
• 2026-04-13 Price Changed $23,900 AcadianaMLS
• 2026-02-26 Listed $24,900 AcadianaMLS
• 2004-10-11 Sold (MLS) $49,000 AcadianaMLS
• 2004-06-29 Listed $48,000 AcadianaMLS

Property tax history

+0.2%/yr

Latest (2025): $158 · +0.0% YoY. Source: county tax records.