400 Third St · Lockport, LA 70374

$78,200

3 bd · 2.0 ba · 1,355 sqft · SingleFamily · 48 Days on market

Built 1970 0.28 ac lot $58/sqft · 43% below area Est $136k · 43% under ↓ 11% 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 +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD OWNED PROPERTY CASE #221-535910 . SOLD AS-IS WITH NO REPAIRS PRIOR TO CLOSING NO EXCEPTION. Go to www.HUDHOMESTORE.gov for more details or to see other HUD Owned properties. $100 down payment for eligible owner occupants using FHA financing. 3 bedroom 2 bathroom home situated on a corner lot in Lockport. Fenced in back yard with storage shed.

Key facts

• Storage shed
• Fenced in back yard
• Corner lot

Tags

• CORNER LOT
• FENCED IN BACK YARD
• STORAGE SHED

Property features AI

Finance

• Other: Located in the Barrilleaux subdivision

Exterior

• Parking: Carport
• Utilities: Public water
• Home design: Detached single-family residence; Residential property
• Construction: Brick construction; Slab foundation; Built in 2026
• Exterior features: Public water

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#168 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lockport Lower Elementary School (460 students, 53% FRL); Lockport Middle School (math 39% / reading 56%, grade C-, #36 of 218 statewide, top 16%, 376 students, 48% FRL); Central Lafourche High School (math 28% / reading 50%, grade F, #86 of 265 statewide, top 33%, 1,360 students, 61% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $541 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,854 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.34% ✓
• Cap rate: 20.47%
• Cash-on-cash: 50.64%
• DSCR: 3.25
• GRM: 3.6

CMA / ARV

• ARV (median comp): $136,374
• List price: $78,200
• Delta: -42.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 Justin St	0.29mi	2/1.0 (-1)	1,240 (-8%)	2mo	$170,000	$137	62
605 8th St	0.37mi	2/1.0 (-1)	1,219 (-10%)	2mo	$85,000	$70	55
208 N Willow St	0.68mi	3/2.0	1,277 (-6%)	6mo	$212,000	$166	54
616 Ethel St	0.45mi	3/2.0	1,500 (+11%)	10mo	$199,000	$133	52
132 N Carol St	0.66mi	2/1.5 (-1)	1,375 (+2%)	9mo	$168,500	$123	52
201 North Oak St	0.70mi	3/1.0	1,210 (-11%)	4mo	$79,900	$66	42
621 Ethel St	0.46mi	2/1.5 (-1)	1,454 (+7%)	21mo	$172,500	$119	42
218 North Oak St	0.70mi	2/2.0 (-1)	1,152 (-15%)	3mo	$157,500	$137	35
241 North Oak St	0.66mi	3/1.0	1,209 (-11%)	15mo	$133,000	$110	35
221 N Willow St	0.64mi	3/1.5	1,504 (+11%)	24mo	$150,000	$100	30

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: 21.5%
• Equity multiple: 1.88×
• Total profit: $19,287
• Equity at exit: $11,660

10-year hold

• IRR: 29.7%
• Equity multiple: 3.68×
• Total profit: $58,718
• Equity at exit: $6,761

Cash invested: $21,896 (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 70374

• Active inventory: 56
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$410
• Tax from tax record: −$79 /mo · $949/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $497

Break-even live

Break-even rent $1,200

Max offer price $78,200

Occupancy floor 68%

Sensitivity live

Price	-10% $542	-5% $520	+0% $497	+5% $475	+10% $453
Rent	-10% $353	-5% $425	+0% $497	+5% $570	+10% $642
Rate	-1.0pp $537	-0.5pp $517	base $497	+0.5pp $477	+1.0pp $457

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: $19,550
• Closing costs: $2,346
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Church St Lockport, LA	4.0	2.0	1816	$1,830	$1.01	45d	1	0.54mi

Listing history 18 events

1. 2026-06-13
   status $78,200 Pending 48 DOM
2. 2026-06-10
   pricedays on market $78,200 Active 48 DOM

   Show marketing remark (348 chars)

   HUD OWNED PROPERTY CASE #221-535910 . SOLD AS-IS WITH NO REPAIRS PRIOR TO CLOSING NO EXCEPTION. Go to www.HUDHOMESTORE.gov for more details or to see other HUD Owned properties. $100 down payment for eligible owner occupants using FHA financing. 3 bedroom 2 bathroom home situated on a corner lot in Lockport. Fenced in back yard with storage shed.

3. 2026-06-09
   days on market $85,000 Active 47 DOM
4. 2026-06-08
   days on market $85,000 Active 46 DOM
5. 2026-06-07
   days on market $85,000 Active 45 DOM
6. 2026-06-05
   days on market $85,000 Active 42 DOM
7. 2026-06-03
   days on market $85,000 Active 41 DOM
8. 2026-06-02
   days on market $85,000 Active 40 DOM
9. 2026-06-01
   days on market $85,000 Active 39 DOM
10. 2026-05-31
    days on market $85,000 Active 38 DOM
11. 2026-05-30
    days on market $85,000 Active 37 DOM
12. 2026-04-23
    listed $85,000 Active 350-char remark

    Show marketing remark (348 chars)

    HUD OWNED PROPERTY CASE #221-535910 . SOLD AS-IS WITH NO REPAIRS PRIOR TO CLOSING NO EXCEPTION. Go to www.HUDHOMESTORE.gov for more details or to see other HUD Owned properties. $100 down payment for eligible owner occupants using FHA financing. 3 bedroom 2 bathroom home situated on a corner lot in Lockport. Fenced in back yard with storage shed.

13. 2026-04-23
    listed $85,000 Active 348-char remark

    Show marketing remark (348 chars)

    HUD OWNED PROPERTY CASE #221-535910 . SOLD AS-IS WITH NO REPAIRS PRIOR TO CLOSING NO EXCEPTION. Go to www.HUDHOMESTORE.gov for more details or to see other HUD Owned properties. $100 down payment for eligible owner occupants using FHA financing. 3 bedroom 2 bathroom home situated on a corner lot in Lockport. Fenced in back yard with storage shed.

14. 2015-08-21
    soldstatus
15. 2015-08-21
    soldstatus $124,000
16. 2015-04-08
    listed $129,000
17. 2015-04-08
    listed $129,000
18. 2013-01-25
    listed $88,200

ⓘ 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: $949 · $79/mo
• Projected year-2 tax: $949 · $79/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 9/10 Extreme FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $21,960
• − Mortgage interest: −$4,380
• − Property taxes: −$949
• − Insurance: −$5,510
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$2,275
• Taxable income: $5,333
• Est. tax owed @ 24.0%: −$1,280
• After-tax cash flow: $4,689/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: Lafourche Parish
• NCES district ID: 2200900
• Math proficiency: 31% ▼ -43.00%
• Reading proficiency: 49% ▼ -32.00%
• Median HH income: $49,703
• Composite: 34.4/100
• National rank: #5205
• State rank: #22 of 98 in LA

Livability — Lockport

• Score: 64/100
• State rank: #168
• US rank: #14113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockport, LA
• Population (ZIP): 6,506

Population outlook (Lafourche County) Hauer SSP2

• Today (2025): 102,122 people
• By 2030: 103,361 · +1.2%
• By 2040: 104,401 · +2.2%
• By 2050: 102,795 · +0.7%
• By 2075: 95,599 · -6.4%
• By 2100: 82,303 · -19.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 8% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 18%
• Foreign-born: 6% · Canada
• Languages at home: 84% English-only · Spanish 9% French/Haitian/Cajun 6% Korean 1%

Political lean MEDSL · Lafourche

• 2024 margin: Solid R (+62.1) · D 18.4% · R 80.4% · Other 1.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -46.0pp · 2024: -62.1pp
• All cycles: 2024: R+62.1 2020: R+60.3 2016: R+56.5 2012: R+48.5 2008: R+46.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.36%
• Current HPI: 99.1459
• 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

-11.3% since first listed

11 events — show timeline

• 2026-06-10 Pending — AcadianaMLS
• 2026-06-10 Pending — GBRMLS
• 2026-06-10 Price Changed $78,200 AcadianaMLS
• 2026-06-10 Price Changed $78,200 GBRMLS
• 2026-04-23 Listed $85,000 GBRMLS
• 2026-04-23 Listed $85,000 AcadianaMLS
• 2015-08-21 Sold (Public Records) $124,000 Public Records
• 2015-08-21 Sold (MLS) — GBRMLS
• 2015-04-08 Listed $129,000 GBRMLS
• 2015-04-08 Listed $129,000 AcadianaMLS
• 2013-01-25 Listed $88,200 AcadianaMLS

Property tax history

+28.2%/yr

Latest (2024): $949 · -8.1% YoY. Source: county tax records.