204 Carreras Ln

Maurice, LA 70555

$233,500D

3 bd · 2.0 ba · 1,216 sqft · Built — · Land · Pending · 209 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,887/mo
• Mortgage (P&I): −$1,224
• Tax + insurance: −$389
• HOA: −$35
• Vac / Maint / Mgmt: −$396
• Net cashflow: $-158/mo
• Annual: $-1,893/yr
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• 1% rule: 0.81%
• Cash to close: $65,380

Investor read

• This is a 3-bed/2.0-bath land listed at $234k.
• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (19.2% below list).
• It's been on market 209 days — a 12% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $189k (19.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#15 in LA, #3,333 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Vermilion Parish (town): math 40% / reading 53% proficiency, ranked #15 of 98 in LA (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 248 active listings in the ZIP; solid renter incomes; 228 units permitted in Vermilion Parish in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Questions for listing agent

• 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?
• It's been on market 209 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?
• 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.