47509 Cathy Ln

Hammond, LA 70455

$228,900D-

3 bd · 2.0 ba · 1,536 sqft · Built 2018 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,600/mo
• Mortgage (P&I): −$1,200
• Tax + insurance: −$205
• HOA: −$23
• Vac / Maint / Mgmt: −$336
• Net cashflow: $-164/mo
• Annual: $-1,971/yr
• Cap rate: 5.43%
• Cash-on-cash: -3.08%
• DSCR: 0.86
• 1% rule: 0.70%
• Cash to close: $64,092

Investor read

• This is a 3-bed/2.0-bath single-family listed at $229k.
• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (12.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (30.1% below list).
• It's been on market 22 days — a 2% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (30.1% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.2% local appreciation)).
• Location reads 69/100 on livability (#77 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities C-, commute D+, schools D.
• Tangipahoa Parish (rural): math 18% / reading 29% proficiency, ranked #63 of 98 in LA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 8y ago 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 $150k; list at $229k implies a 53% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.