1023 Ragan Rd · Breaux Bridge, LA 70517

$122,000

3 bd · 2.0 ba · 1,848 sqft · Manufactured public records · 173 Days on market

Built 2004 1.15 ac lot Est $198k · 38% under

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will love this newly updated 3 bedroom, 2 full bath home with new HVAC System, metal roof, laminate floors and carpet. The entire house has been freshly painted. The Kitchen and dining area has real wood floors. Situated in a friendly community off of Cormier Road in Breaux Bridge, this home will give you 1940 Sq Ft of living area and over an acre of wide open space outside. Call today to schedule your private showing.

Key facts

• Over an acre of land
• 1.15 acre lot
• Parking

Tags

• OVER AN ACRE OF LAND
• EXPANSIVE OUTDOOR SPACE
• SPACIOUS LIVING AREAS
• BRIGHT AND AIRY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $122k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.4% in Breaux Bridge — 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 62/100 on livability (#210 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety B+; Watch: crime F, amenities F, commute F.
• St. Martin Parish (rural): math 23% / reading 32% proficiency, ranked #49 of 98 in LA (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Breaux Bridge Primary School (571 students, 80% FRL); Breaux Bridge Junior High School (math 12% / reading 22%, grade F, #174 of 218 statewide, top 81%, 397 students, 76% FRL); Breaux Bridge High School (math 22% / reading 27%, grade F, #153 of 265 statewide, top 62%, 851 students, 62% FRL) — zoned schools at 73% FRL track the district average.
• Market conditions: 276 active listings in the ZIP; 54 units permitted in St. Martin Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $843 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Martin County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $197,736
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1023 Ragan Rd	0.00mi	3/2.0	1,940 (+5%)	1mo	$127,000	$65	91
1161-B Cormier Rd	0.56mi	4/2.0 (+1)	1,592 (-14%)	4mo	$170,000	$107	42

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-2,697
• Equity at exit: $18,191

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $19,658
• Equity at exit: $10,548

Cash invested: $34,160 (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 70517

• Home prices YoY: -33.7%
• Active inventory: 276
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,381 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$51
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $268

Break-even live

Break-even rent $1,042

Max offer price $122,000

Occupancy floor 76%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-08
   status Pending
2. 2026-02-23
   price $122,000
3. 2026-01-03
   price $129,999
4. 2025-10-17
   listed $147,400 Active
5. 2020-03-25
   soldstatus $85,000
6. 2020-03-20
   soldstatus $85,000 431-char remark

   Show marketing remark (431 chars)

   You will love this newly updated 3 bedroom, 2 full bath home with new HVAC System, metal roof, laminate floors and carpet. The entire house has been freshly painted. The Kitchen and dining area has real wood floors. Situated in a friendly community off of Cormier Road in Breaux Bridge, this home will give you 1940 Sq Ft of living area and over an acre of wide open space outside. Call today to schedule your private showing.

7. 2019-10-30
   listed $99,900 431-char remark

   Show marketing remark (431 chars)

   You will love this newly updated 3 bedroom, 2 full bath home with new HVAC System, metal roof, laminate floors and carpet. The entire house has been freshly painted. The Kitchen and dining area has real wood floors. Situated in a friendly community off of Cormier Road in Breaux Bridge, this home will give you 1940 Sq Ft of living area and over an acre of wide open space outside. Call today to schedule your private showing.

8. 2019-01-08
   soldstatus $28,000 153-char remark

   Show marketing remark (153 chars)

   This would make a great starter home or investment opportunity! Located on a quiet street, in a country setting. This one won't last long. Call us today!

9. 2018-08-30
   listed $40,400 153-char remark

   Show marketing remark (153 chars)

   This would make a great starter home or investment opportunity! Located on a quiet street, in a country setting. This one won't last long. Call us today!

10. 2006-10-05
    listed $99,900

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $796 · $66/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 · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,577
• − Mortgage interest: −$6,834
• − Property taxes: −$796
• − Insurance: −$1,408
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$3,549
• Taxable income: $1,338
• Est. tax owed @ 24.0%: −$321
• After-tax cash flow: $2,894/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. Martin Parish
• NCES district ID: 2201590
• Math proficiency: 23% ▼ -44.00%
• Reading proficiency: 32% ▼ -36.00%
• Median HH income: $42,813
• Composite: 23.41/100
• National rank: #7897
• State rank: #49 of 98 in LA

Livability — Breaux Bridge

• Score: 62/100
• State rank: #210
• US rank: #16362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 26,570

Population outlook (St. Martin County) Hauer SSP2

• Today (2025): 57,446 people
• By 2030: 58,857 · +2.5%
• By 2040: 60,859 · +5.9%
• By 2050: 61,419 · +6.9%
• By 2075: 61,574 · +7.2%
• By 2100: 57,253 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 30% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 18% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 87% English-only · French/Haitian/Cajun 9% Spanish 3% Vietnamese 1%

Political lean MEDSL · St. Martin

• 2024 margin: Solid R (+40.7) · D 29.1% · R 69.8% · Other 1.0%
• 2008→2024 swing: -20.0pp toward R · 2008: -20.7pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+36.1 2016: R+33.4 2012: R+24.5 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.00%
• Current HPI: 143.4293
• 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

+22.1% since first listed

10 events — show timeline

• 2026-04-08 Pending — AcadianaMLS
• 2026-02-23 Price Changed $122,000 AcadianaMLS
• 2026-01-03 Price Changed $129,999 AcadianaMLS
• 2025-10-17 Listed $147,400 AcadianaMLS
• 2020-03-25 Sold (Public Records) $85,000 Public Records
• 2020-03-20 Sold (MLS) $85,000 AcadianaMLS
• 2019-10-30 Listed $99,900 AcadianaMLS
• 2019-01-08 Sold (MLS) $28,000 AcadianaMLS
• 2018-08-30 Listed $40,400 AcadianaMLS
• 2006-10-05 Listed $99,900 AcadianaMLS

Property tax history

+2.0%/yr

Latest (2025): $796 · -0.6% YoY. Source: county tax records.