817 Agnes St

New Iberia, LA 70560

$56,200B-

3 bd · 1.0 ba · 1,148 sqft · Built — · SingleFamily · Active · 175 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,008/mo
• Mortgage (P&I): −$295
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$212
• Net cashflow: $452/mo
• Annual: $5,425/yr
• Cap rate: 15.95%
• Cash-on-cash: 34.48%
• DSCR: 2.53
• 1% rule: 1.79%
• Cash to close: $15,736

Investor read

• This is a 3-bed/1.0-bath single-family listed at $56k. Condition is rated fair.
• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• It's been on market 175 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $389 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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.
• Market conditions: 352 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 110d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 94 units permitted in Iberia Parish in 2024 (0 in 5+ unit buildings).
• Iberia County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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 $24k; list at $56k implies a 134% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: 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.
• Cap rate 15.9% vs local median 5.3% 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.

Questions for listing agent

• It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Severe weathering and peeling
• Major: paint — Peeling paint
• Major: landscaping — Overgrown and unkempt