603 David St · Patterson, LA 70392

$135,000

3 bd · 2.0 ba · 1,349 sqft · SingleFamily · 18 Days on market

Built 1997 6,098 sqft lot $100/sqft · 15% below area Est $160k · 15% under

---

Why this score? — see what drove the C+ 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 +22.9/30.0
• ARV discount +14.4/15.0
• DSCR +7.3/10.0
• 1% rule +5.4/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into comfort and character with this well-maintained 3-bedroom, 2-bath brick home built in 1997. Featuring brand-new wood floors in the living room and bedrooms, this home blends timeless style with modern updates. The spacious indoor laundry room adds everyday convenience, while the large fenced-in backyard offers privacy and room to roam. Enjoy outdoor living under the covered patio, shaded by a majestic live oak tree--perfect for weekend gatherings or quiet mornings with coffee. Whether you're hosting friends or relaxing solo, this backyard is a true sanctuary.

Key facts

• Wood floors
• Covered patio
• Live oak tree

Tags

• WOOD FLOORS
• INDOOR LAUNDRY ROOM
• FENCED-IN BACKYARD
• COVERED PATIO
• LIVE OAK TREE

Property features AI

Finance

• Other: Located in the Pietro Estates subdivision

Exterior

• Parking: Garage
• Utilities: Public water; Public sewer
• Home design: Detached single-family residence; Residential property
• Construction: Brick construction; Slab foundation; Built space approximately 1,794
• Exterior features: Fenced yard (full, wood); Shingle roof

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#101 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment D-.
• St. Mary Parish (town): math 28% / reading 39% proficiency, ranked #37 of 98 in LA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hattie A. Watts Elementary School (math 47% / reading 55%, grade C-, #120 of 646 statewide, top 19%, 609 students, 76% FRL); Patterson Junior High School (math 17% / reading 34%, grade F, #139 of 218 statewide, top 64%, 412 students, 70% FRL); Patterson High School (math 32% / reading 42%, grade F, #98 of 265 statewide, top 38%, 452 students, 72% FRL) — zoned schools at 73% FRL track the district average.
• Market conditions: 30 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 37 units permitted in St. Mary Parish in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Mary County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 6 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 $60k; list at $135k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (median comp): $159,579
• List price: $135,000
• Delta: -12.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Kem St	0.02mi	3/2.0	1,370 (+2%)	18mo	$155,000	$113	81
606 David St	0.04mi	3/2.0	1,433 (+6%)	12mo	$206,000	$144	78
617 Kem St	0.09mi	3/1.0	1,248 (-8%)	8mo	$150,000	$120	72
432 Tiffany Rd	0.49mi	3/2.0	1,296 (-4%)	5mo	$135,000	$104	66
119 Domino St	0.57mi	3/2.0	1,308 (-3%)	10mo	$90,000	$69	60
722 Kelli St	0.25mi	3/2.0	1,546 (+15%)	7mo	$205,000	$133	58
506 Mike Dr	0.39mi	3/1.5	1,236 (-8%)	13mo	$160,000	$129	55
303 Camille Dr	0.59mi	3/2.0	1,391 (+3%)	15mo	$187,000	$134	55
1001 Michael St	0.59mi	3/2.0	1,212 (-10%)	1mo	$160,000	$132	55
606 Leo Dr	0.48mi	3/2.0	1,526 (+13%)	4mo	$172,000	$113	52
613 Park St	0.65mi	3/2.0	1,149 (-15%)	6mo	$58,000	$50	40

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-11,039
• Equity at exit: $20,129

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $4,405
• Equity at exit: $11,672

Cash invested: $37,800 (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 70392

• Home prices YoY: -30.3%
• Active inventory: 30
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $170

Break-even live

Break-even rent $1,185

Max offer price $135,000

Occupancy floor 83%

Sensitivity live

Price	-10% $246	-5% $208	+0% $170	+5% $132	+10% $93
Rent	-10% $59	-5% $114	+0% $170	+5% $225	+10% $280
Rate	-1.0pp $238	-0.5pp $204	base $170	+0.5pp $135	+1.0pp $99

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
731 Kem St Patterson, LA	3.0	2.0	1428	$1,400	$0.98	15d	1	0.31mi

Listing history 20 events

1. 2026-06-21
   days on market $135,000 Active 18 DOM
2. 2026-06-21
   days on market $135,000 Active 17 DOM
3. 2026-06-18
   days on market $135,000 Active 15 DOM
4. 2026-06-17
   days on market $135,000 Active 14 DOM
5. 2026-06-16
   days on market $135,000 Active 13 DOM
6. 2026-06-15
   days on market $135,000 Active 12 DOM
7. 2026-06-13
   days on market $135,000 Active 10 DOM
8. 2026-06-12
   days on market $135,000 Active 9 DOM
9. 2026-06-09
   days on market $135,000 Active 6 DOM
10. 2026-06-08
    days on market $135,000 Active 5 DOM
11. 2026-06-07
    days on market $135,000 Active 4 DOM
12. 2026-06-07
    days on market $135,000 Active 3 DOM
13. 2026-06-04
    pricedays on marketlisting id $135,000 Active 1 DOM
14. 2026-03-26
    status Active 575-char remark
15. 2026-03-26
    status Active 580-char remark
16. 2026-03-06
    status Pending 575-char remark
17. 2026-03-06
    status Pending 580-char remark
18. 2025-11-17
    listed $139,500 Active 580-char remark
19. 2025-11-17
    listed $139,500 Active 575-char remark
20. 1997-12-02
    soldstatus $60,000

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $1,267 · $106/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 8/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 24 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: $16,800
• − Mortgage interest: −$7,562
• − Property taxes: −$1,267
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,927
• Taxable loss: −$117
• Est. tax savings @ 24.0%: +$28
• After-tax cash flow: $2,065/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. Mary Parish
• NCES district ID: 2201620
• Math proficiency: 28% ▼ -40.00%
• Reading proficiency: 39% ▼ -33.00%
• Median HH income: $39,843
• Composite: 28.1/100
• National rank: #6828
• State rank: #37 of 98 in LA

Livability — Patterson

• Score: 68/100
• State rank: #101
• US rank: #10077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Patterson, LA
• City population: 8,158
• Population (ZIP): 8,158

Population outlook (St. Mary County) Hauer SSP2

• Today (2025): 49,510 people
• By 2030: 47,570 · -3.9%
• By 2040: 43,880 · -11.4%
• By 2050: 40,655 · -17.9%
• By 2075: 37,190 · -24.9%
• By 2100: 38,101 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 53% Black 39% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Spanish 1%

Political lean MEDSL · St. Mary

• 2024 margin: Solid R (+31.9) · D 33.5% · R 65.4% · Other 1.0%
• 2008→2024 swing: -15.1pp toward R · 2008: -16.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+29.1 2016: R+27.6 2012: R+18.8 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.27%
• Current HPI: 115.661
• 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

+125.0% since first listed

9 events — show timeline

• 2026-06-03 Listed $135,000 GBRMLS
• 2026-06-03 Listed $135,000 AcadianaMLS
• 2026-03-26 Relisted — AcadianaMLS
• 2026-03-26 Relisted — GBRMLS
• 2026-03-06 Pending — AcadianaMLS
• 2026-03-06 Pending — GBRMLS
• 2025-11-17 Listed $139,500 GBRMLS
• 2025-11-17 Listed $139,500 AcadianaMLS
• 1997-12-02 Sold (Public Records) $60,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,267 · +6.6% YoY. Source: county tax records.