508 Thomas St · Abbeville, LA 70510

$59,000

2 bd · 1.0 ba · 1,281 sqft · SingleFamily · 41 Days on market

Built 1980 7,840 sqft lot $46/sqft · 44% below area Est $105k · 44% under ↓ 9% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 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

Located right behind VC this oversized 2 bedroom and 1 bath home sprawls over 1200 sqft living! It offers covered parking, an oversized laundry room, and a massive list of improvements over the last four years. Such improvements include a new metal roof, window units, fresh paint, flooring, hot water heater, and brand new electrical panel! This unit currently rents for $850 a month! Investors, add this one to your portfolio. Please do not disturb tenants. Home can be viewed during buyer's due diligence period. Reach out for more information.

Key facts

• New metal roof
• Covered parking
• Fresh paint

Tags

• COVERED PARKING
• OVERSIZED LAUNDRY ROOM
• NEW METAL ROOF
• FRESH PAINT
• NEW FLOORING
• HOT WATER HEATER

Property features AI

Exterior

• Parking: Carport (2 covered spaces, 2 total parking)
• Utilities: Public sewer; City electric
• Home design: Single family residence
• Construction: Wood siding/frame construction
• Exterior features: Metal roof; Storage structure on property; City street frontage

Interior

• Kitchen: Electric stove
• Flooring: Vinyl tile; Wood laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Window units and multi-unit cooling
• Interior features: Formica counters; Wood frame windows
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.1% 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: Eaton Park Elementary School (439 students, 90% FRL); Abbeville High School (math 12% / reading 32%, grade F, #171 of 265 statewide, top 66%, 607 students, 81% FRL) — zoned schools average 86% FRL vs 53% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 46% district-wide (-24 pts) — the specific schools serving this property underperform the Vermilion Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 180 active listings in the ZIP; 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 $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.45% ✓
• Cap rate: 22.08%
• Cash-on-cash: 56.37%
• DSCR: 3.51
• GRM: 3.4

CMA / ARV

• ARV (median comp): $104,885
• List price: $59,000
• Delta: -43.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Loraine St	0.19mi	3/2.0 (+1)	1,219 (-5%)	0mo	$80,000	$66	74
410 Loraine St	0.07mi	2/1.0	1,176 (-8%)	12mo	$12,000	$10	73
808 Loraine St	0.21mi	3/1.0 (+1)	1,388 (+8%)	1mo	$33,500	$24	70
109 N Henry St	0.30mi	3/1.0 (+1)	1,200 (-6%)	1mo	$128,500	$107	70
1710 W Port St	0.37mi	3/2.0 (+1)	1,315 (+3%)	2mo	$50,000	$38	67
809 Morgan St	0.20mi	2/1.0	1,410 (+10%)	11mo	$109,000	$77	64
700 W St. Mary St	0.37mi	2/1.0	1,354 (+6%)	15mo	$127,500	$94	61
602 Loraine St	0.09mi	2/2.0	1,186 (-7%)	24mo	$98,000	$83	60
811 W Saint Mary St	0.37mi	3/1.0 (+1)	1,120 (-13%)	2mo	$45,200	$40	55
2010 W Summers Dr	0.69mi	3/2.0 (+1)	1,234 (-4%)	6mo	$62,000	$50	48
1905 W Port St	0.50mi	3/2.0 (+1)	1,222 (-5%)	22mo	$71,000	$58	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: 19.2%
• Equity multiple: 1.78×
• Total profit: $12,956
• Equity at exit: $8,797

10-year hold

• IRR: 27.7%
• Equity multiple: 3.48×
• Total profit: $40,991
• Equity at exit: $5,101

Cash invested: $16,520 (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: 180
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$31 /mo · $377/yr
• Insurance: −$25
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $349

Break-even live

Break-even rent $1,002

Max offer price $59,000

Occupancy floor 71%

Sensitivity live

Price	-10% $383	-5% $366	+0% $349	+5% $333	+10% $316
Rent	-10% $235	-5% $292	+0% $349	+5% $407	+10% $464
Rate	-1.0pp $379	-0.5pp $364	base $349	+0.5pp $334	+1.0pp $319

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $59,000 Active 41 DOM
2. 2026-06-17
   days on market $59,000 Active 40 DOM
3. 2026-06-16
   days on market $59,000 Active 39 DOM
4. 2026-06-15
   days on market $59,000 Active 38 DOM
5. 2026-06-14
   days on market $59,000 Active 36 DOM
6. 2026-06-13
   days on market $59,000 Active 35 DOM
7. 2026-06-10
   days on market $59,000 Active 33 DOM
8. 2026-06-09
   days on market $59,000 Active 32 DOM
9. 2026-06-08
   days on market $59,000 Active 31 DOM
10. 2026-06-07
    pricedays on market $59,000 Active 30 DOM
11. 2026-06-03
    days on market $65,000 Active 26 DOM
12. 2026-06-02
    days on market $65,000 Active 25 DOM
13. 2026-06-01
    days on market $65,000 Active 24 DOM
14. 2026-05-31
    days on market $65,000 Active 23 DOM
15. 2026-05-30
    days on market $65,000 Active 22 DOM
16. 2026-05-07
    listed $65,000 Active 548-char remark

ⓘ 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: $377 · $31/mo
• Projected year-2 tax: $377 · $31/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 AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 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: $17,338
• − Mortgage interest: −$3,305
• − Property taxes: −$377
• − Insurance: −$5,414
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$1,716
• Taxable income: $3,752
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $3,293/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

-9.2% since first listed

2 events — show timeline

• 2026-06-04 Price Changed $59,000 AcadianaMLS
• 2026-05-07 Listed $65,000 AcadianaMLS

Property tax history

+1.9%/yr

Latest (2025): $377 · -0.2% YoY. Source: county tax records.