505 James St · New Iberia, LA 70560

$42,000

3 bd · 2.0 ba · 2,009 sqft · SingleFamily · 180 Days on market

Built 1960 0.36 ac lot ↓ 47% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Are you looking for a brick home on a double lot thats not far from amenities? This home has 4 bedrooms and 2 bathrooms with an extra room that can be used for an office or den. The roof and windows are brand new with warranty. Enjoy your spacious backyard and also a nice size storage attached to the covered parking. There's a lot to enjoy with this home, schedule your private showing today!

Key facts

• Ample cabinetry
• Newer wood floors
• Brick-front home

Tags

• BRICK-FRONT HOME
• NEWER WOOD FLOORS
• VERSATILE BONUS ROOM
• GRANITE COUNTERTOPS
• AMPLE CABINETRY
• LARGE FENCED BACKYARD

Property features AI

Exterior

• Parking: Carport (1 covered space, total 1 parking space)
• Utilities: Public sewer; Electric service by CLECO
• Home design: Single-family residence
• Construction: Composition roof; Aluminum siding; Brick veneer; HardiPlank-type siding; Brick; Frame construction; Metal siding
• Exterior features: Exterior lighting; Open porch/patio; Paved road frontage

Interior

• Kitchen: Granite counters; Solid surface counters
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Built-in features; Separate shower; Granite counters; Solid surface counters; Tile and wood flooring; Central heating; Central air

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $708 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.5% 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: Pesson Addition Elementary School (math 32% / reading 33%, grade F, #300 of 646 statewide, top 47%, 415 students, 84% FRL); Iberia Middle School (math 20% / reading 40%, grade F, #114 of 218 statewide, top 53%, 498 students, 77% 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: 237 active listings in the ZIP; 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 $290 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $83k (66%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $36,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.97% ✓
• Cap rate: 26.52%
• Cash-on-cash: 72.23%
• DSCR: 4.21
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $200,900
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 E St. Peter St	0.33mi	3/2.0	1,963 (-2%)	8mo	$27,000	$14	74
37 Prairie Ave	0.52mi	3/2.0	1,988 (-1%)	7mo	$198,000	$100	68
310 S Evangeline St	0.57mi	3/2.0	1,934 (-4%)	1mo	$196,000	$101	66
625 E Main St	0.45mi	3/3.0	2,130 (+6%)	15mo	$278,350	$131	53
722 S Lewis St	0.35mi	3/2.5	2,200 (+10%)	23mo	$158,500	$72	47
102 Myrtle Oak Dr	0.67mi	4/2.0 (+1)	2,267 (+13%)	1mo	$130,000	$57	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: 71.9%
• Equity multiple: 4.26×
• Total profit: $38,290
• Equity at exit: $6,262

10-year hold

• IRR: 75.8%
• Equity multiple: 8.78×
• Total profit: $91,439
• Equity at exit: $3,631

Cash invested: $11,760 (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 70560

• Home prices YoY: -29.8%
• Active inventory: 237
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,246 medium
• Mortgage (P&I): −$220
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $708

Break-even live

Break-even rent $350

Max offer price $42,000

Occupancy floor 38%

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-05-21
   status Pending
2. 2026-05-21
   price $42,000
3. 2026-05-21
   status Active
4. 2026-03-04
   status Pending
5. 2026-02-20
   status Active
6. 2026-02-20
   price $44,175
7. 2025-12-27
   price $85,000
8. 2025-11-22
   price $100,000
9. 2025-10-22
   price $115,000
10. 2025-09-03
    listed $125,000 Active
11. 2025-06-03
    price $170,000
12. 2025-04-09
    listed $180,000 Active
13. 2021-03-22
    soldstatus $130,000
14. 2021-03-19
    soldstatus $130,000 394-char remark

    Show marketing remark (394 chars)

    Are you looking for a brick home on a double lot thats not far from amenities? This home has 4 bedrooms and 2 bathrooms with an extra room that can be used for an office or den. The roof and windows are brand new with warranty. Enjoy your spacious backyard and also a nice size storage attached to the covered parking. There's a lot to enjoy with this home, schedule your private showing today!

15. 2020-12-29
    listed $130,000 394-char remark

    Show marketing remark (394 chars)

    Are you looking for a brick home on a double lot thats not far from amenities? This home has 4 bedrooms and 2 bathrooms with an extra room that can be used for an office or den. The roof and windows are brand new with warranty. Enjoy your spacious backyard and also a nice size storage attached to the covered parking. There's a lot to enjoy with this home, schedule your private showing today!

16. 2020-05-15
    soldstatus $26,500
17. 2020-03-19
    listed $29,900
18. 2007-06-05
    soldstatus
19. 2007-06-01
    soldstatus $78,652
20. 1979-10-17
    soldstatus

ⓘ 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: $467 · $39/mo
• Projected year-2 tax: $467 · $39/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $14,955
• − Mortgage interest: −$2,353
• − Property taxes: −$467
• − Insurance: −$210
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$1,222
• Taxable income: $8,311
• Est. tax owed @ 24.0%: −$1,995
• After-tax cash flow: $6,500/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): 37,589

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 11% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% Other Asian/Pacific 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: ▼ -65.82%
• Current HPI: 154.9018
• 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

-46.6% since first listed

20 events — show timeline

• 2026-05-21 Pending — AcadianaMLS
• 2026-05-21 Price Changed $42,000 AcadianaMLS
• 2026-05-21 Relisted — AcadianaMLS
• 2026-03-04 Pending — AcadianaMLS
• 2026-02-20 Relisted — AcadianaMLS
• 2026-02-20 Price Changed $44,175 AcadianaMLS
• 2025-12-27 Price Changed $85,000 AcadianaMLS
• 2025-11-22 Price Changed $100,000 AcadianaMLS
• 2025-10-22 Price Changed $115,000 AcadianaMLS
• 2025-09-03 Listed $125,000 AcadianaMLS
• 2025-06-03 Price Changed $170,000 AcadianaMLS
• 2025-04-09 Listed $180,000 AcadianaMLS
• 2021-03-22 Sold (Public Records) $130,000 Public Records
• 2021-03-19 Sold (MLS) $130,000 AcadianaMLS
• 2020-12-29 Listed $130,000 AcadianaMLS
• 2020-05-15 Sold (MLS) $26,500 AcadianaMLS
• 2020-03-19 Listed $29,900 AcadianaMLS
• 2007-06-05 Sold (Public Records) — Public Records
• 2007-06-01 Sold (Public Records) $78,652 Public Records
• 1979-10-17 Sold (Public Records) — Public Records

Property tax history

-2.5%/yr

Latest (2025): $467 · +2.0% YoY. Source: county tax records.