2302 Federal Ave · Morgan City, LA 70380

$65,000

2 bd · 1.0 ba · 672 sqft · SingleFamily · 72 Days on market

Built 1970 4,791 sqft lot $97/sqft · 14% below area Est $76k · 14% under ↓ 40% since listing

---

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 +27.9/30.0
• ARV discount +13.8/15.0
• DSCR +9.9/10.0
• 1% rule +7.3/10.0
• 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

INVESTMENT OPPORTUNITY! Two bedrooms, one bath home. Call for a showing today. Flood zone X. All measurements and flood zones to be verified by the buyer.

Key facts

• 4,791 sq ft lot
• Parking
• Built 1970

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.6% in Morgan City — 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 67/100 on livability (#111 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• 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.
• Market conditions: 82 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 $449 of loan paydown is wiped out by about $2k 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 72 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.23% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.19%
• DSCR: 1.59
• GRM: 6.8

CMA / ARV

• ARV (median comp): $75,520
• List price: $65,000
• Delta: -13.93%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2304 Federal Ave	0.01mi	2/1.0	698 (+4%)	2mo	$75,000	$107	92
513 Leona St	0.12mi	1/1.0 (-1)	720 (+7%)	8mo	$96,500	$134	70

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-1,984
• Equity at exit: $9,692

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $9,398
• Equity at exit: $5,620

Cash invested: $18,200 (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 70380

• Home prices YoY: -34.8%
• Active inventory: 82
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $134

Break-even live

Break-even rent $631

Max offer price $65,000

Occupancy floor 78%

Sensitivity live

Price	-10% $170	-5% $152	+0% $134	+5% $115	+10% $97
Rent	-10% $70	-5% $102	+0% $134	+5% $165	+10% $197
Rate	-1.0pp $166	-0.5pp $150	base $134	+0.5pp $117	+1.0pp $100

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
702 Louisiana St Morgan City, LA	1.0	1.0	498	$800	$1.61	14d	1	1.41mi

Listing history 25 events

1. 2026-06-21
   days on market $65,000 Active 72 DOM
2. 2026-06-18
   days on market $65,000 Active 70 DOM
3. 2026-06-18
   price $65,000 Active 69 DOM
4. 2026-06-17
   days on market $75,000 Active 69 DOM
5. 2026-06-16
   days on market $75,000 Active 68 DOM
6. 2026-06-15
   days on market $75,000 Active 67 DOM
7. 2026-06-13
   days on market $75,000 Active 65 DOM
8. 2026-06-12
   days on market $75,000 Active 64 DOM
9. 2026-06-09
   days on market $75,000 Active 61 DOM
10. 2026-06-08
    days on market $75,000 Active 60 DOM
11. 2026-06-07
    days on market $75,000 Active 59 DOM
12. 2026-06-07
    days on market $75,000 Active 58 DOM
13. 2026-06-04
    days on market $75,000 Active 55 DOM
14. 2026-06-02
    days on market $75,000 Active 54 DOM
15. 2026-06-01
    days on market $75,000 Active 53 DOM
16. 2026-05-31
    days on market $75,000 Active 52 DOM
17. 2026-05-31
    days on market $75,000 Active 51 DOM
18. 2026-04-09
    listed $75,000 Active 154-char remark

    Show marketing remark (154 chars)

    INVESTMENT OPPORTUNITY! Two bedrooms, one bath home. Call for a showing today. Flood zone X. All measurements and flood zones to be verified by the buyer.

19. 2026-04-09
    listed $75,000 Active 154-char remark

    Show marketing remark (154 chars)

    INVESTMENT OPPORTUNITY! Two bedrooms, one bath home. Call for a showing today. Flood zone X. All measurements and flood zones to be verified by the buyer.

20. 2025-10-30
    soldstatus Closed
21. 2025-09-25
    status Pending
22. 2025-09-02
    price $105,000
23. 2025-09-02
    price $105,000
24. 2025-03-28
    listed $125,000 Active
25. 2025-03-27
    listed $125,000 Active

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $768 · $64/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) · 87% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 23 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: $9,600
• − Mortgage interest: −$3,641
• − Property taxes: −$768
• − Insurance: −$1,122
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$1,891
• Taxable income: $641
• Est. tax owed @ 24.0%: −$154
• After-tax cash flow: $1,449/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 — Morgan City

• Score: 67/100
• State rank: #111
• US rank: #11015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgan City, LA
• Population (ZIP): 21,043

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: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 15% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 14%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 11% French/Haitian/Cajun 2% Vietnamese 2%

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: ▼ -53.21%
• Current HPI: 99.8137
• 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

-40.0% since first listed

8 events — show timeline

• 2026-04-09 Listed $75,000 GBRMLS
• 2026-04-09 Listed $75,000 AcadianaMLS
• 2025-10-30 Sold (MLS) — GBRMLS
• 2025-09-25 Pending — GBRMLS
• 2025-09-02 Price Changed $105,000 AcadianaMLS
• 2025-09-02 Price Changed $105,000 GBRMLS
• 2025-03-28 Listed $125,000 GBRMLS
• 2025-03-27 Listed $125,000 AcadianaMLS

Property tax history

+2.0%/yr

Latest (2025): $768 · +3.9% YoY. Source: county tax records.