206 N Leonard St · Abbeville, LA 70510

$45,000

2 bd · 1.0 ba · 1,242 sqft · SingleFamily · 115 Days on market

6,000 sqft lot $36/sqft · 14% below area Est $53k · 14% under

---

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 +30.0/30.0
• ARV discount +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor/fixer upper! Just a block away for St Theresa Church and next to the Abbeville water tower, you can't miss this 1242 sf. home with comfort and convenience in its location. It has 2 beds, 1 bath and a living, dining, kitchen and laundry. The back yard is shaded form several trees and privacy and room to expand.

Key facts

• Shaded back yard
• Room to expand
• 6,000 sq ft lot

Tags

• SHADED BACK YARD
• ROOM TO EXPAND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• Cap rate 26.1% vs local median 6.6% in Abbeville — 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 68/100 on livability (#94 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Vermilion Parish (town): math 40% / reading 53% proficiency, ranked #15 of 98 in LA (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: James A. Herod Elementary School (math 14% / reading 29%, grade F, #434 of 646 statewide, top 68%, 340 students, 90% FRL); J.H. Williams Middle School (math 13% / reading 30%, grade F, #158 of 218 statewide, top 73%, 528 students, 84% FRL); Abbeville High School (math 12% / reading 32%, grade F, #171 of 265 statewide, top 66%, 607 students, 81% FRL) — zoned schools average 85% FRL vs 53% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 46% district-wide (-25 pts) — the specific schools serving this property underperform the Vermilion Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 181 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 228 units permitted in Vermilion Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Vermilion County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
6. 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?
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: 2.94% ✓
• Cap rate: 26.11%
• Cash-on-cash: 70.78%
• DSCR: 4.15
• GRM: 2.8

CMA / ARV

• ARV (median comp): $52,619
• List price: $45,000
• Delta: -14.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Alley St	0.13mi	2/1.0	1,329 (+7%)	4mo	$86,900	$65	79
1719 Maude Ave	0.44mi	3/1.0 (+1)	1,250 (+1%)	7mo	$5,000	$4	68
312 Putnam Ave	0.16mi	3/2.0 (+1)	1,119 (-10%)	18mo	$32,000	$29	52
307 Putnam Ave	0.17mi	3/2.0 (+1)	1,119 (-10%)	18mo	$25,000	$22	52
114 N Lyman St	0.23mi	3/1.0 (+1)	1,083 (-13%)	15mo	$48,000	$44	51
604 Dean St	0.58mi	2/1.0	1,170 (-6%)	15mo	$88,900	$76	51
106 Holmes Dr	0.66mi	2/2.0	1,342 (+8%)	3mo	$55,500	$41	49
408 S Bailey St	0.57mi	3/1.0 (+1)	1,100 (-11%)	10mo	$42,000	$38	41
307 S Guegnon St	0.57mi	3/2.0 (+1)	1,315 (+6%)	18mo	$123,600	$94	39
303 S Louisiana St	0.74mi	3/1.0 (+1)	1,100 (-11%)	19mo	$27,000	$25	26

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: 63.6%
• Equity multiple: 3.85×
• Total profit: $35,862
• Equity at exit: $6,710

10-year hold

• IRR: 68.1%
• Equity multiple: 7.90×
• Total profit: $86,949
• Equity at exit: $3,891

Cash invested: $12,600 (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 70510

• Active inventory: 181
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,322 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $677

Break-even live

Break-even rent $466

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $702	-5% $689	+0% $677	+5% $664	+10% $651
Rent	-10% $572	-5% $624	+0% $677	+5% $729	+10% $781
Rate	-1.0pp $699	-0.5pp $688	base $677	+0.5pp $665	+1.0pp $653

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 E Lafayette St Unit 2 Abbeville, LA	2.0	1.0	800	$1,199	$1.50	15d	1	0.68mi
122 Acacia Ln Abbeville, LA	3.0	2.0	1327	$1,500	$1.13	22d	1	1.42mi

Listing history 17 events

1. 2026-06-22
   days on market $45,000 Active 115 DOM
2. 2026-06-18
   days on market $45,000 Active 112 DOM
3. 2026-06-17
   days on market $45,000 Active 111 DOM
4. 2026-06-16
   days on market $45,000 Active 110 DOM
5. 2026-06-15
   days on market $45,000 Active 109 DOM
6. 2026-06-14
   days on market $45,000 Active 107 DOM
7. 2026-06-13
   days on market $45,000 Active 106 DOM
8. 2026-06-10
   days on market $45,000 Active 104 DOM
9. 2026-06-09
   days on market $45,000 Active 103 DOM
10. 2026-06-08
    days on market $45,000 Active 102 DOM
11. 2026-06-07
    days on market $45,000 Active 101 DOM
12. 2026-06-03
    days on market $45,000 Active 97 DOM
13. 2026-06-02
    days on market $45,000 Active 96 DOM
14. 2026-06-01
    days on market $45,000 Active 95 DOM
15. 2026-05-31
    days on market $45,000 Active 94 DOM
16. 2026-05-30
    days on market $45,000 Active 93 DOM
17. 2026-02-24
    listed $45,000 Active 323-char remark

    Show marketing remark (323 chars)

    Investor/fixer upper! Just a block away for St Theresa Church and next to the Abbeville water tower, you can't miss this 1242 sf. home with comfort and convenience in its location. It has 2 beds, 1 bath and a living, dining, kitchen and laundry. The back yard is shaded form several trees and privacy and room to expand.

ⓘ 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: $562 · $47/mo
• Projected year-2 tax: $562 · $47/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 (shaded) · 77% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $15,869
• − Mortgage interest: −$2,521
• − Property taxes: −$562
• − Insurance: −$1,022
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$1,309
• Taxable income: $7,916
• Est. tax owed @ 24.0%: −$1,900
• After-tax cash flow: $6,221/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: Vermilion Parish
• NCES district ID: 2201800
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 53% ▼ -32.00%
• Median HH income: $45,115
• Composite: 39.37/100
• National rank: #3974
• State rank: #15 of 98 in LA

Livability — Abbeville

• Score: 68/100
• State rank: #94
• US rank: #9800

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abbeville, LA
• Population (ZIP): 23,909

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 64,095 people
• By 2030: 65,915 · +2.8%
• By 2040: 68,985 · +7.6%
• By 2050: 70,804 · +10.5%
• By 2075: 73,897 · +15.3%
• By 2100: 71,793 · +12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 24% Two or more races 4% Hispanic / Latino 4% Asian 4%
• Common ancestry: Lithuanian 15% Italian 1%
• Foreign-born: 5% · Vietnam, Canada
• Languages at home: 87% English-only · French/Haitian/Cajun 6% Vietnamese 3% Spanish 2%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+63.8) · D 17.6% · R 81.4% · Other 1.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -47.5pp · 2024: -63.8pp
• All cycles: 2024: R+63.8 2020: R+61.9 2016: R+59.6 2012: R+52.8 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.44%
• Current HPI: 97.6131
• 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

1 event — show timeline

• 2026-02-24 Listed $45,000 AcadianaMLS

Property tax history

+2.4%/yr

Latest (2025): $562 · -0.3% YoY. Source: county tax records.