906 W Landry St

Opelousas, LA 70570

$44,999B-

4 bd · 2.0 ba · 5,189 sqft · Built — · MultiFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,413/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$297
• Net cashflow: $792/mo
• Annual: $9,508/yr
• Cap rate: 27.42%
• Cash-on-cash: 75.46%
• DSCR: 4.36
• 1% rule: 3.14%
• Cash to close: $12,600

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $45k.
• At list price, monthly cash flow is $792 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 18 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• 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 Middle School (math 5% / reading 16%, grade F, #197 of 218 statewide, top 91%, 246 students, 92% FRL); 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 (-16 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).
• St. Landry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $10k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 27.4% 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.