3768 Tara Dr

Destrehan, LA 70047

$270,000D

4 bd · 3.0 ba · 2,498 sqft · Built 1990 · SingleFamily · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,929/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$338
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $-230/mo
• Annual: $-2,761/yr
• Cap rate: 5.27%
• Cash-on-cash: -3.65%
• DSCR: 0.84
• 1% rule: 0.71%
• Cash to close: $75,600

Investor read

• This is a 4-bed/3.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (28.6% below list).
• It's been on market 150 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (28.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#20 in LA, #4,010 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F.
• St. Charles Parish (suburban): math 40% / reading 51% proficiency, ranked #14 of 98 in LA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ethel Schoeffner Elementary School (math 52% / reading 57%, grade C, #93 of 646 statewide, top 15%, 427 students, 43% FRL); Harry M. Hurst Middle School (math 43% / reading 55%, grade C-, #31 of 218 statewide, top 15%, 760 students, 40% FRL); Destrehan High School (math 39% / reading 51%, grade D-, #56 of 265 statewide, top 21%, 1,482 students, 44% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 74 units permitted in St. Charles Parish in 2024 (0 in 5+ unit buildings).
• St. Charles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 12 sale attempts since 28y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate 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.
• Cap rate 5.3% vs local median 3.6% in Destrehan — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 150 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.