921 Caroline St Unit 2 units · Thibodaux, LA 70301

$139,000

2 bd · 2.5 ba · 2,680 sqft · SingleFamily · 89 Days on market

Built 1960 Fair condition 5,270 sqft lot $52/sqft · 28% below area Est $193k · 28% under

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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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Buildings for sale on the corner of Caroline and Bradford. First building is a rent house (1079 square ft living 2 bed 2 bath). It is currently occupied by a long term tenant and collects $750 per month. The driveway next to first house is shared for additional parking (see map and sketch). The second building is connected via the back porch (1601 square ft). Second building is currently being used as storage and contains a kitchen area and 1/2 bathroom. Tons of rental potential in the 2nd building. There is an additional storage shed connected to the 2nd building that is sizeable-not included in the attached sketch. Listing agent is Owner/Agent.

Key facts

• Kitchen area
• Shared driveway
• 5,270 sq ft lot

Tags

• SHARED DRIVEWAY
• CONNECTED VIA BACK PORCH
• KITCHEN AREA
• ADDITIONAL STORAGE SHED

🏷️ Possibly a rental listed for sale. The $139,000 price doesn't fit this home's estimated sale value (~$192,716) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $139k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (3.1% below list).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.8% in Thibodaux — 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 84/100 on livability (#2 in LA, #723 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime C-, employment F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 513 active listings in the ZIP; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($131k) 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.

Risks & watch-outs

• 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 $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $192,716
• List price: $139,000
• Delta: -27.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 East 8th St	0.35mi	2/3.0	2,404 (-10%)	23mo	$200,000	$83	45
306 E 2nd St	0.69mi	3/2.0 (+1)	2,353 (-12%)	1mo	$320,000	$136	40
404 Menard St	0.63mi	3/2.0 (+1)	2,322 (-13%)	10mo	$315,000	$136	33

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-16,056
• Equity at exit: $20,725

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-5,975
• Equity at exit: $12,018

Cash invested: $38,920 (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 70301

• Rents YoY: 2.9%
• Active inventory: 513
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $103

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 87%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $139,000 Active 89 DOM
2. 2026-06-18
   days on market $139,000 Active 88 DOM
3. 2026-06-17
   days on market $139,000 Active 87 DOM
4. 2026-06-16
   days on market $139,000 Active 86 DOM
5. 2026-06-15
   days on market $139,000 Active 85 DOM
6. 2026-06-14
   days on market $139,000 Active 83 DOM
7. 2026-06-13
   days on market $139,000 Active 82 DOM
8. 2026-06-10
   days on market $139,000 Active 80 DOM
9. 2026-06-09
   days on market $139,000 Active 79 DOM
10. 2026-06-08
    days on market $139,000 Active 78 DOM
11. 2026-06-07
    days on market $139,000 Active 77 DOM
12. 2026-06-05
    days on market $139,000 Active 74 DOM
13. 2026-06-03
    days on market $139,000 Active 73 DOM
14. 2026-06-02
    days on market $139,000 Active 72 DOM
15. 2026-06-01
    days on market $139,000 Active 71 DOM
16. 2026-05-31
    days on market $139,000 Active 70 DOM
17. 2026-05-30
    days on market $139,000 Active 69 DOM
18. 2026-03-22
    listed $139,000 Active 656-char remark

    Show marketing remark (656 chars)

    2 Buildings for sale on the corner of Caroline and Bradford. First building is a rent house (1079 square ft living 2 bed 2 bath). It is currently occupied by a long term tenant and collects $750 per month. The driveway next to first house is shared for additional parking (see map and sketch). The second building is connected via the back porch (1601 square ft). Second building is currently being used as storage and contains a kitchen area and 1/2 bathroom. Tons of rental potential in the 2nd building. There is an additional storage shed connected to the 2nd building that is sizeable-not included in the attached sketch. Listing agent is Owner/Agent.

19. 2026-03-22
    listed $139,000 Active 656-char remark

    Show marketing remark (656 chars)

    2 Buildings for sale on the corner of Caroline and Bradford. First building is a rent house (1079 square ft living 2 bed 2 bath). It is currently occupied by a long term tenant and collects $750 per month. The driveway next to first house is shared for additional parking (see map and sketch). The second building is connected via the back porch (1601 square ft). Second building is currently being used as storage and contains a kitchen area and 1/2 bathroom. Tons of rental potential in the 2nd building. There is an additional storage shed connected to the 2nd building that is sizeable-not included in the attached sketch. Listing agent is Owner/Agent.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,161
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$4,044
• Taxable loss: −$1,034
• Est. tax savings @ 24.0%: +$248
• After-tax cash flow: $1,489/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to update the kitchen and bathrooms, paint the exterior and interior, and replace awnings. These updates would significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate kitchen appliances — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate bathroom tile — dated and in need of replacement
• Moderate exterior siding — weathered and in need of repainting
• Moderate exterior awnings — weathered and in need of replacement
• Moderate interior paint — dated and in need of fresh paint

Value-add opportunities

• Both update kitchen and bathrooms — modernizing the kitchen and bathrooms would significantly increase both resale and rental value
• Both paint exterior and replace awnings — updating the exterior would improve curb appeal and increase both resale and rental value
• Both paint interior and replace window treatments — updating the interior would improve the home's appearance and increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
kitchen appliances · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
bathroom tile · dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · weathered and in need of repainting	Moderate	$3,000–15,000
exterior awnings · weathered and in need of replacement	Moderate	$3,000–15,000
interior paint · dated and in need of fresh paint	Moderate	$3,000–15,000
Total estimated repair cost · 7 items		$21,000–105,000

Value-add ROI direction

• Both update kitchen and bathrooms — modernizing the kitchen and bathrooms would significantly increase both resale and rental value ↑
• Both paint exterior and replace awnings — updating the exterior would improve curb appeal and increase both resale and rental value ↑
• Both paint interior and replace window treatments — updating the interior would improve the home's appearance and increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lafourche Parish
• NCES district ID: 2200900
• Math proficiency: 31% ▼ -43.00%
• Reading proficiency: 49% ▼ -32.00%
• Median HH income: $49,703
• Composite: 34.4/100
• National rank: #5205
• State rank: #22 of 98 in LA

Livability — Thibodaux

• Score: 84/100
• State rank: #2
• US rank: #723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thibodaux, LA
• County: Lafourche Parish · 50,095 people
• City population: 50,095
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 50,095
• Household income: $58,394
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 1513.0

Population outlook (Lafourche County) Hauer SSP2

• Today (2025): 102,122 people
• By 2030: 103,361 · +1.2%
• By 2040: 104,401 · +2.2%
• By 2050: 102,795 · +0.7%
• By 2075: 95,599 · -6.4%
• By 2100: 82,303 · -19.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Hispanic / Latino 5% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 18% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 2%

Political lean MEDSL · Lafourche

• 2024 margin: Solid R (+62.1) · D 18.4% · R 80.4% · Other 1.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -46.0pp · 2024: -62.1pp
• All cycles: 2024: R+62.1 2020: R+60.3 2016: R+56.5 2012: R+48.5 2008: R+46.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.35%
• Current HPI: 124.5559
• Rent YoY: ▲ 2.90%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-22 Listed $139,000 GBRMLS
• 2026-03-22 Listed $139,000 AcadianaMLS