38731 Bayou Pigeon Rd · Plaquemine, LA 70764

$55,000

3 bd · 2.0 ba · 1,110 sqft · Manufactured · 519 Days on market

Built 2018 7,187 sqft lot ↓ 15% 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 +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

**HUGE PRICE IMPROVEMENT - JUST IN TIME FOR SUMMER** New Boat Launch across from your front door!!! Come check this one out...This well-maintained 3-bedroom, 2-bath trailer features an open floor plan, drywall throughout, and walk-in closets. A standout detail is the custom stone wall leading into the kitchen, adding a touch of character to the space. The property also includes a separate shed for additional storage and is conveniently located across the street from the boat launch to Bayou Pigeon--ideal for outdoor enthusiasts! FLOOD ZONE X

Key facts

• Separate shed
• Boat launch
• Custom stone wall

Tags

• CUSTOM STONE WALL
• SEPARATE SHED
• BOAT LAUNCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 6.0% in Plaquemine — 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 61/100 on livability (#238 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Iberville Parish (rural): math 23% / reading 34% proficiency, ranked #45 of 98 in LA (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Crescent Elementary/Junior High School (math 37% / reading 47%, grade F, #201 of 646 statewide, top 33%, 440 students, 64% FRL); Plaquemine Senior High School (math 23% / reading 36%, grade F, #127 of 265 statewide, top 49%, 1,131 students, 66% FRL).
• Market conditions: 128 active listings in the ZIP; 117 units permitted in Iberville Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Iberville County population projected to shrink 6% 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 519 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 519 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.12% ✓
• Cap rate: 28.64%
• Cash-on-cash: 79.81%
• DSCR: 4.55
• GRM: 2.7

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: 44.1%
• Equity multiple: 2.91×
• Total profit: $29,415
• Equity at exit: $8,201

10-year hold

• IRR: 50.1%
• Equity multiple: 5.91×
• Total profit: $75,685
• Equity at exit: $4,755

Cash invested: $15,400 (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 70764

• Home prices YoY: -20.1%
• Active inventory: 128
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,718 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$21 /mo · $258/yr
• Insurance: −$23
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $598

Break-even live

Break-even rent $961

Max offer price $55,000

Occupancy floor 60%

Sensitivity live

Price	-10% $629	-5% $613	+0% $598	+5% $582	+10% $567
Rent	-10% $462	-5% $530	+0% $598	+5% $666	+10% $733
Rate	-1.0pp $625	-0.5pp $612	base $598	+0.5pp $583	+1.0pp $569

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $55,000 Active 519 DOM
2. 2026-06-18
   days on market $55,000 Active 516 DOM
3. 2026-06-17
   days on market $55,000 Active 515 DOM
4. 2026-06-16
   days on market $55,000 Active 514 DOM
5. 2026-06-15
   days on market $55,000 Active 513 DOM
6. 2026-06-14
   days on market $55,000 Active 511 DOM
7. 2026-06-13
   days on market $55,000 Active 510 DOM
8. 2026-06-10
   days on market $55,000 Active 508 DOM
9. 2026-06-09
   days on market $55,000 Active 507 DOM
10. 2026-06-08
    days on market $55,000 Active 506 DOM
11. 2026-06-07
    days on market $55,000 Active 505 DOM
12. 2026-06-03
    days on market $55,000 Active 501 DOM
13. 2026-06-02
    days on market $55,000 Active 500 DOM
14. 2026-06-01
    days on market $55,000 Active 499 DOM
15. 2026-05-31
    days on market $55,000 Active 498 DOM
16. 2026-05-31
    days on market $55,000 Active 497 DOM
17. 2026-04-15
    price $55,000 547-char remark

    Show marketing remark (561 chars)

    * * HUGE PRICE IMPROVEMENT - JUST IN TIME FOR SUMMER * * New Boat Launch across from your front door!!! Come check this one out. .. This well-maintained 3-bedroom, 2-bath trailer features an open floor plan, drywall throughout, and walk-in closets. A standout detail is the custom stone wall leading into the kitchen, adding a touch of character to the space. The property also includes a separate shed for additional storage and is conveniently located across the street from the boat launch to Bayou Pigeon—ideal for outdoor enthusiasts! FLOOD ZONE X

18. 2026-04-15
    price $55,000 561-char remark

    Show marketing remark (561 chars)

    * * HUGE PRICE IMPROVEMENT - JUST IN TIME FOR SUMMER * * New Boat Launch across from your front door!!! Come check this one out. .. This well-maintained 3-bedroom, 2-bath trailer features an open floor plan, drywall throughout, and walk-in closets. A standout detail is the custom stone wall leading into the kitchen, adding a touch of character to the space. The property also includes a separate shed for additional storage and is conveniently located across the street from the boat launch to Bayou Pigeon—ideal for outdoor enthusiasts! FLOOD ZONE X

19. 2025-01-19
    listed $65,000 Active 561-char remark

    Show marketing remark (561 chars)

    * * HUGE PRICE IMPROVEMENT - JUST IN TIME FOR SUMMER * * New Boat Launch across from your front door!!! Come check this one out. .. This well-maintained 3-bedroom, 2-bath trailer features an open floor plan, drywall throughout, and walk-in closets. A standout detail is the custom stone wall leading into the kitchen, adding a touch of character to the space. The property also includes a separate shed for additional storage and is conveniently located across the street from the boat launch to Bayou Pigeon—ideal for outdoor enthusiasts! FLOOD ZONE X

20. 2025-01-18
    listed $65,000 Active 547-char remark

    Show marketing remark (547 chars)

    **HUGE PRICE IMPROVEMENT - JUST IN TIME FOR SUMMER** New Boat Launch across from your front door!!! Come check this one out...This well-maintained 3-bedroom, 2-bath trailer features an open floor plan, drywall throughout, and walk-in closets. A standout detail is the custom stone wall leading into the kitchen, adding a touch of character to the space. The property also includes a separate shed for additional storage and is conveniently located across the street from the boat launch to Bayou Pigeon--ideal for outdoor enthusiasts! FLOOD ZONE X

ⓘ 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: $258 · $21/mo
• Projected year-2 tax: $302 · $25/mo
• Expected delta: +$45/yr (+$4/mo · 17.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,614
• − Mortgage interest: −$3,081
• − Property taxes: −$258
• − Insurance: −$5,394
• − Repairs & maintenance: −$1,649
• − Management: −$1,649
• − Depreciation: −$1,600
• Taxable income: $6,983
• Est. tax owed @ 24.0%: −$1,676
• After-tax cash flow: $5,496/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: Iberville Parish
• NCES district ID: 2200750
• Math proficiency: 23% ▼ -43.00%
• Reading proficiency: 34% ▼ -35.00%
• Median HH income: $44,386
• Composite: 24.38/100
• National rank: #7690
• State rank: #45 of 98 in LA

Livability — Plaquemine

• Score: 61/100
• State rank: #238
• US rank: #18111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,046

Population outlook (Iberville County) Hauer SSP2

• Today (2025): 33,056 people
• By 2030: 32,819 · -0.7%
• By 2040: 32,043 · -3.1%
• By 2050: 30,956 · -6.4%
• By 2075: 28,314 · -14.3%
• By 2100: 23,559 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 39% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 13% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Iberville

• 2024 margin: Toss-up / Even · D 48.9% · R 49.6% · Other 1.5%
• 2008→2024 swing: -11.9pp toward R · 2008: 11.2pp · 2024: -0.7pp
• All cycles: 2024: R+0.7 2020: D+3.7 2016: D+6.3 2012: D+13.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.08%
• Current HPI: 178.9188
• 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

-15.4% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $55,000 AcadianaMLS
• 2026-04-15 Price Changed $55,000 GBRMLS
• 2025-01-19 Listed $65,000 GBRMLS
• 2025-01-18 Listed $65,000 AcadianaMLS

Property tax history

-0.0%/yr

Latest (2024): $258 · -0.3% YoY. Source: county tax records.