309 Highland Dr · Bayou Cane, LA 70364

$175,000

3 bd · 1.5 ba · 1,304 sqft · SingleFamily · 81 Days on market

Built 1968 $134/sqft · at area comps Est $184k · at est.

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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 +15.3/30.0
• ARV discount +9.6/15.0
• DSCR +4.7/10.0
• 1% rule +3.3/10.0
• 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 MLS

Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

Key facts

• Private pool
• Massive lot
• Parking

Tags

• PRIVATE POOL
• MASSIVE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-1 ($-10/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (16.6% below list).
• Recommended offer: $146k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.3% in Bayou Cane — 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 65/100 on livability (#140 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools F, 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $40k; list at $175k implies a 338% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $145,984 (16.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.83% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (median comp): $183,772
• List price: $175,000
• Delta: -4.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 Highland Dr	0.16mi	3/2.0	1,248 (-4%)	9mo	$155,000	$124	76
249 J Patrick Dr	0.43mi	3/2.0	1,322 (+1%)	5mo	$220,000	$166	72
231 J Patrick Dr	0.44mi	3/2.0	1,262 (-3%)	1mo	$213,000	$169	71
140 Saxony Dr	0.37mi	2/2.0 (-1)	1,306 (+0%)	7mo	$179,500	$137	70
503 Quickie Dr	0.21mi	3/2.0	1,488 (+14%)	0mo	$218,000	$147	64
385 Garden View Dr	0.35mi	3/2.0	1,420 (+9%)	6mo	$179,500	$126	62
248 T Leigh Dr	0.49mi	3/2.0	1,391 (+7%)	3mo	$162,000	$116	62
109 Saxony Dr	0.49mi	2/1.0 (-1)	1,280 (-2%)	7mo	$167,000	$130	61
110 Wayne Ave	0.48mi	3/1.5	1,200 (-8%)	9mo	$150,000	$125	56
112 Wayne Ave	0.49mi	3/1.0	1,162 (-11%)	6mo	$155,000	$133	52
126 Burkwall Dr	0.74mi	3/2.0	1,450 (+11%)	6mo	$199,000	$137	40
7323 Park Ave	0.73mi	2/1.0 (-1)	1,208 (-7%)	9mo	$69,500	$58	39

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-28,420
• Equity at exit: $26,093

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-24,862
• Equity at exit: $15,131

Cash invested: $49,000 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,460 high
• Mortgage (P&I): −$918
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-1

Break-even live

Break-even rent $1,461

Max offer price $174,859

Occupancy floor 95%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Marcel Ln Unit A Houma, LA	2.0	1.0	908	$1,350	$1.49	44d	1	0.52mi
108 Marcel Ln Unit B Houma, LA	2.0	1.0	908	$1,350	$1.49	44d	1	0.55mi
400 Westside Blvd Houma, LA	2.0–3.0	1.0–1.5	906	$1,150	$1.27	44d	5	1.02mi
100 Belmere Luxury Ct Houma, LA	1.0–3.0	1.0–2.0	1076	$1,645	$1.53	44d	27	1.03mi
100 Cameron Isles Ct Houma, LA	1.0–3.0	1.0–2.0	1115	$1,635	$1.47	44d	14	1.49mi

Listing history 24 events

1. 2026-06-19
   days on market $175,000 Active 81 DOM
2. 2026-06-18
   days on market $175,000 Active 80 DOM
3. 2026-06-17
   days on market $175,000 Active 79 DOM
4. 2026-06-16
   days on market $175,000 Active 78 DOM
5. 2026-06-15
   days on market $175,000 Active 77 DOM
6. 2026-06-14
   days on market $175,000 Active 75 DOM
7. 2026-06-13
   days on market $175,000 Active 74 DOM
8. 2026-06-10
   days on market $175,000 Active 72 DOM
9. 2026-06-09
   days on market $175,000 Active 71 DOM
10. 2026-06-08
    days on market $175,000 Active 70 DOM
11. 2026-06-07
    days on market $175,000 Active 69 DOM
12. 2026-06-05
    days on market $175,000 Active 66 DOM
13. 2026-06-03
    days on market $175,000 Active 65 DOM
14. 2026-06-02
    days on market $175,000 Active 64 DOM
15. 2026-06-01
    days on market $175,000 Active 63 DOM
16. 2026-05-31
    days on market $175,000 Active 62 DOM
17. 2026-05-30
    days on market $175,000 Active 61 DOM
18. 2026-05-17
    price $175,000 319-char remark

    Show marketing remark (321 chars)

    Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

19. 2026-05-17
    price $175,000 321-char remark

    Show marketing remark (321 chars)

    Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

20. 2026-05-06
    price $178,000 319-char remark

    Show marketing remark (321 chars)

    Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

21. 2026-05-06
    price $178,000 321-char remark

    Show marketing remark (321 chars)

    Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

22. 2026-03-27
    listed $180,000 Active 319-char remark

    Show marketing remark (321 chars)

    Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

23. 2026-03-27
    listed $180,000 Active 321-char remark

    Show marketing remark (321 chars)

    Don't miss this 3-bedroom gem in a highly sought-after school district. With major updates already handled (Brand New Roof & Central Air!), you can spend your time where it matters most: the backyard. Features a massive lot with a private pool ready for summer. Schedule your tour today! Agent is related to seller.

24. 1978-06-14
    soldstatus $40,000

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,164 · $97/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 X (shaded) · 59% 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: $17,518
• − Mortgage interest: −$9,803
• − Property taxes: −$1,164
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$5,091
• Taxable loss: −$3,015
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $714/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 — Bayou Cane

• Score: 65/100
• State rank: #140
• US rank: #12522

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bayou Cane, LA
• County: Terrebonne Parish · 57,290 people
• 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

+337.5% since first listed

7 events — show timeline

• 2026-05-17 Price Changed $175,000 AcadianaMLS
• 2026-05-17 Price Changed $175,000 GSREIN
• 2026-05-06 Price Changed $178,000 AcadianaMLS
• 2026-05-06 Price Changed $178,000 GSREIN
• 2026-03-27 Listed $180,000 GSREIN
• 2026-03-27 Listed $180,000 AcadianaMLS
• 1978-06-14 Sold (Public Records) $40,000 Public Records

Property tax history

+18.0%/yr

Latest (2025): $1,164 · -1.7% YoY. Source: county tax records.