703 Saint Phillip St · Raceland, LA 70394

$78,000

2 bd · 1.0 ba · 800 sqft · Other public records · 583 Days on market

Built 1965 4,356 sqft lot $98/sqft · 42% below area Est $119k · 34% under ↓ 21% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

Key facts

• New lighting
• Completely remodeled
• New paint

Tags

• COMPLETELY REMODELED
• NEW LVP FLOORING
• NEW PAINT
• NEW WINDOWS
• NEW LIGHTING
• NEW BATHROOM FIXTURES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $78k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 7.1% in Raceland — 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 58/100 on livability (#295 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 128 active listings in the ZIP; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 583 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $34k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 583 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.69% ✓
• Cap rate: 14.76%
• Cash-on-cash: 30.24%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $118,545
• List price: $78,000
• Delta: -34.20%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-4,504
• Equity at exit: $11,630

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $7,255
• Equity at exit: $6,744

Cash invested: $21,840 (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 70394

• Active inventory: 128
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$50 /mo · $601/yr
• Insurance: −$32
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $124

Break-even live

Break-even rent $1,162

Max offer price $78,000

Occupancy floor 86%

Sensitivity live

Price	-10% $168	-5% $146	+0% $124	+5% $102	+10% $80
Rent	-10% $20	-5% $72	+0% $124	+5% $176	+10% $228
Rate	-1.0pp $163	-0.5pp $144	base $124	+0.5pp $104	+1.0pp $83

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $78,000 Active 583 DOM
2. 2026-06-18
   days on market $78,000 Active 582 DOM
3. 2026-06-17
   days on market $78,000 Active 581 DOM
4. 2026-06-17
   price $78,000 Active 580 DOM
5. 2026-06-16
   days on market $82,500 Active 580 DOM
6. 2026-06-15
   days on market $82,500 Active 579 DOM
7. 2026-06-14
   days on market $82,500 Active 577 DOM
8. 2026-06-13
   days on market $82,500 Active 576 DOM
9. 2026-06-10
   days on market $82,500 Active 574 DOM
10. 2026-06-09
    days on market $82,500 Active 573 DOM
11. 2026-06-08
    days on market $82,500 Active 572 DOM
12. 2026-06-07
    days on market $82,500 Active 571 DOM
13. 2026-06-05
    days on market $82,500 Active 568 DOM
14. 2026-06-03
    days on market $82,500 Active 567 DOM
15. 2026-06-02
    days on market $82,500 Active 566 DOM
16. 2026-06-01
    days on market $82,500 Active 565 DOM
17. 2026-05-31
    days on market $82,500 Active 564 DOM
18. 2026-05-30
    days on market $82,500 Active 563 DOM
19. 2026-05-11
    price $82,500 211-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

20. 2026-05-11
    price $82,500 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

21. 2025-07-29
    price $85,000 211-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

22. 2025-07-29
    price $85,000 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

23. 2025-07-07
    status Active 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

24. 2025-04-24
    status Pending 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

25. 2025-03-27
    price $95,000 211-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

26. 2025-03-27
    price $95,000 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

27. 2025-01-09
    status Active 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

28. 2024-12-11
    status Pending 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

29. 2024-12-11
    historical 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

30. 2024-12-09
    status Pending 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

31. 2024-09-18
    price $105,000 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

32. 2024-07-31
    listed $105,000 Active 211-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

33. 2024-07-31
    listed $112,000 Active 212-char remark

    Show marketing remark (212 chars)

    Adorable Cottage, Completely remodeled with old-school charm! Home offers new LVP flooring, paint, windows, lighting, bathroom fixtures, appliances, cabinetry, doors, AC's, roof, electrical wiring, and plumbing.

ⓘ 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: $601 · $50/mo
• Projected year-2 tax: $601 · $50/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 7/10 Severe FEMA zone AE · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 22 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: $15,827
• − Mortgage interest: −$4,369
• − Property taxes: −$601
• − Insurance: −$5,508
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$2,269
• Taxable income: $547
• Est. tax owed @ 24.0%: −$131
• After-tax cash flow: $1,354/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: Lafourche Parish
• NCES district ID: 2200900
• Math proficiency: 31% ▼ -43.00%
• Reading proficiency: 49% ▼ -32.00%
• Median HH income: $49,703
• Composite: 34.4/100
• National rank: #5205
• State rank: #22 of 98 in LA

Livability — Raceland

• Score: 58/100
• State rank: #295
• US rank: #20904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raceland, LA
• Population (ZIP): 13,683

Population outlook (Lafourche County) Hauer SSP2

• Today (2025): 102,122 people
• By 2030: 103,361 · +1.2%
• By 2040: 104,401 · +2.2%
• By 2050: 102,795 · +0.7%
• By 2075: 95,599 · -6.4%
• By 2100: 82,303 · -19.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 21% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 23% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · French/Haitian/Cajun 4% Spanish 1%

Political lean MEDSL · Lafourche

• 2024 margin: Solid R (+62.1) · D 18.4% · R 80.4% · Other 1.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -46.0pp · 2024: -62.1pp
• All cycles: 2024: R+62.1 2020: R+60.3 2016: R+56.5 2012: R+48.5 2008: R+46.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.48%
• Current HPI: 136.5498
• 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

-21.4% since first listed

15 events — show timeline

• 2026-05-11 Price Changed $82,500 AcadianaMLS
• 2026-05-11 Price Changed $82,500 GBRMLS
• 2025-07-29 Price Changed $85,000 AcadianaMLS
• 2025-07-29 Price Changed $85,000 GBRMLS
• 2025-07-07 Relisted — GBRMLS
• 2025-04-24 Pending — GBRMLS
• 2025-03-27 Price Changed $95,000 AcadianaMLS
• 2025-03-27 Price Changed $95,000 GBRMLS
• 2025-01-09 Relisted — GBRMLS
• 2024-12-11 Pending — GBRMLS
• 2024-12-11 Delisted — GBRMLS
• 2024-12-09 Pending — GBRMLS
• 2024-09-18 Price Changed $105,000 GBRMLS
• 2024-07-31 Listed $112,000 GBRMLS
• 2024-07-31 Listed $105,000 AcadianaMLS

Property tax history

+13.1%/yr

Latest (2024): $601 · +1.4% YoY. Source: county tax records.