159A N Magnolia St

Gramercy, LA 70052

$103,000C+

3 bd · 1.0 ba · 1,200 sqft · Built 1950 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,146/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$172
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $193/mo
• Annual: $2,320/yr
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $28,840

Investor read

• This is a 3-bed/1.0-bath single-family listed at $103k. Condition is rated average.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $712 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#32 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F.
• St. James Parish (town): math 31% / reading 41% proficiency, ranked #30 of 98 in LA (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gramercy Elementary School (math 31% / reading 37%, grade F, #95 of 218 statewide, top 45%, 410 students, 52% FRL); Lutcher High School (math 35% / reading 48%, grade F, #71 of 265 statewide, top 27%, 1,043 students, 44% FRL) — zoned schools average 48% FRL vs 67% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 64 units permitted in St. James Parish in 2024 (0 in 5+ unit buildings).
• St. James County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Dated appearance and need for updating
• Moderate: Bathroom fixtures — Dated appearance and need for updating
• Moderate: Exterior siding — Weathered appearance and need for repainting or replacement
• Major: Backyard shed — Structurally compromised and in poor condition