1903 North Bayou Dr

Golden Meadow, LA 70357

$69,000B

3 bd · 2.0 ba · 1,200 sqft · Built 1970 · Other · Active · 275 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,082/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$469
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $24/mo
• Annual: $287/yr
• Cap rate: 14.13%
• Cash-on-cash: 27.98%
• DSCR: 2.24
• 1% rule: 1.57%
• Cash to close: $19,320

Investor read

• This is a 3-bed/2.0-bath other listed at $69k.
• At list price, monthly cash flow is $24 ($287/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• It's been on market 275 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• In year one you build about $803 of equity ($477 loan paydown + $326 appreciation (0.5% local appreciation)).
• Location reads 71/100 on livability (#46 in LA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 40 active listings in the ZIP; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).
• 9 sale attempts since 4y ago 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 $50k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.
• 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.
• 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.