606 Mcilhenny St · New Iberia, LA 70563

$150,000

3 bd · 2.0 ba · 1,392 sqft · Other · 6 Days on market

7,840 sqft lot

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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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful three bedroom home with a split floor plan. The kitchen features an island and built-ins. The large backyard is fenced in. Some photos have been virtually staged for demonstration purposes only.

Key facts

• Fenced in
• Split floor plan
• Large backyard

Tags

• SPLIT FLOOR PLAN
• KITCHEN ISLAND
• BUILT-INS
• LARGE BACKYARD
• FENCED IN

Property features AI

Exterior

• Parking: Open parking
• Utilities: Public sewer; Electric service: CLECO
• Home design: Single family residence
• Construction: Composition roof; Vinyl siding and other siding materials
• Exterior features: Chain link fencing; Paved city street frontage

Interior

• Kitchen: Refrigerator included
• Flooring: Tile; Wood laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Window unit(s) for cooling
• Interior features: Tile and wood laminate flooring; Refrigerator included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/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 $144k (3.8% below list).
• Recommended offer: $144k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 5.8% in New Iberia — 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 73/100 on livability (#33 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, employment F.
• Iberia Parish (other): math 32% / reading 43% proficiency, ranked #27 of 98 in LA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Lewis Elementary School (math 43% / reading 57%, grade D+, #125 of 646 statewide, top 20%, 520 students, 54% FRL); Belle Place Middle School (math 31% / reading 54%, grade D-, #57 of 218 statewide, top 26%, 413 students, 65% FRL); New Iberia Senior High School (math 35% / reading 52%, grade F, #64 of 265 statewide, top 24%, 1,449 students, 62% FRL).
• Market conditions: 141 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 94 units permitted in Iberia Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iberia County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

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 $144,341 (3.8% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-12,631
• Equity at exit: $22,365

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $3,960
• Equity at exit: $12,969

Cash invested: $42,000 (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 70563

• Home prices YoY: -35.0%
• Active inventory: 141
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,443 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$41 /mo · $492/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $184

Break-even live

Break-even rent $1,211

Max offer price $150,000

Occupancy floor 82%

Sensitivity live

Price	-10% $269	-5% $226	+0% $184	+5% $141	+10% $99
Rent	-10% $70	-5% $127	+0% $184	+5% $241	+10% $298
Rate	-1.0pp $259	-0.5pp $222	base $184	+0.5pp $145	+1.0pp $105

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Springfield St New Iberia, LA	3.0	2.0	1192	$1,500	$1.26	14d	1	1.28mi
212 Hacker St New Iberia, LA	2.0	1.0	1000	$950	$0.95	44d	1	1.36mi
919 Russo St New Iberia, LA	3.0	2.0	1520	$1,800	$1.18	22d	1	1.47mi

Listing history 6 events

1. 2026-06-18
   days on market $150,000 Active 6 DOM
2. 2026-06-17
   days on market $150,000 Active 5 DOM
3. 2026-06-16
   days on market $150,000 Active 4 DOM
4. 2026-06-15
   days on market $150,000 Active 3 DOM
5. 2026-06-13
   remarks 204-char remark
6. 2026-06-13
   listed $150,000 Active 1 DOM

ⓘ 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: $492 · $41/mo
• Projected year-2 tax: $825 · $69/mo
• Expected delta: +$333/yr (+$28/mo · 67.8%)

ⓘ 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 (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,321
• − Mortgage interest: −$8,402
• − Property taxes: −$492
• − Insurance: −$1,547
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$4,364
• Taxable loss: −$256
• Est. tax savings @ 24.0%: +$61
• After-tax cash flow: $2,266/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: Iberia Parish
• NCES district ID: 2200720
• Math proficiency: 32% ▼ -43.00%
• Reading proficiency: 43% ▼ -35.00%
• Median HH income: $43,289
• Composite: 31.74/100
• National rank: #5904
• State rank: #27 of 98 in LA

Livability — New Iberia

• Score: 73/100
• State rank: #33
• US rank: #5376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Iberia, LA
• Population (ZIP): 19,947

Population outlook (Iberia County) Hauer SSP2

• Today (2025): 74,632 people
• By 2030: 74,368 · -0.4%
• By 2040: 73,223 · -1.9%
• By 2050: 71,728 · -3.9%
• By 2075: 69,028 · -7.5%
• By 2100: 65,018 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 16% Two or more races 5% Hispanic / Latino 5% Asian 2%
• Common ancestry: Lithuanian 19% Slovak 1% Romanian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 91% English-only · French/Haitian/Cajun 4% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Iberia

• 2024 margin: Solid R (+34.1) · D 32.4% · R 66.5% · Other 1.1%
• 2008→2024 swing: -11.1pp toward R · 2008: -23.0pp · 2024: -34.1pp
• All cycles: 2024: R+34.1 2020: R+31.2 2016: R+31.4 2012: R+26.2 2008: R+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.52%
• Current HPI: 146.1556
• 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

+2900.0% since first listed

4 events — show timeline

• 2026-06-11 Listed $150,000 AcadianaMLS
• 2020-12-29 Sold (Public Records) $135,000 Public Records
• 2020-09-02 Sold (Public Records) $82,400 Public Records
• 2012-05-18 Sold (Public Records) $5,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $492 · +2.0% YoY. Source: county tax records.