405 Williams Ave · Houma, LA 70364

$324,000

None bd · None ba · 1,203 sqft · MultiFamily public records · 64 Days on market

Built 1949 6,098 sqft lot $269/sqft · 198% above area

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

There are currently four units with a potential fifth unit that has already been built, but never renovated! All of these units have been updated and renovated and come COMPLETELY FURNISHED AND DECORATED! ALL APPLIANCES ARE ALSO INCLUDED! UNIT A Is a three bedroom, two bathroom house. UNIT B Is a one bedroom, one bathroom unit and is located behind unit A. UNIT C Which is above unit B is a one bedroom, one bathroom unit. UNIT D Is a one bedroom, one bathroom unit directly above a double garage Potentially, Unit F has 267 ft. ² and is ready to be completed. Directly below this unit is potential storage that is 233 ft. ². Currently unit A is being rented for $1900 a month. Previously units B was rented for $1295 a month. Unit C it is currently rented for $1200 a month andunit D is currently rented for $1200 a month. This property is located in a flood zone X

Key facts

• 6,098 sq ft lot
• Garage
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 1×3bd/2ba + 3×1bd/1ba units multifamily listed at $324k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $276/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $324k).
• Recommended offer: $305k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 4.0% in Houma — 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 64/100 on livability (#165 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, crime D-, amenities F.
• Terrebonne Parish (other): math 32% / reading 46% proficiency, ranked #23 of 98 in LA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 311 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).
• At $4,232/mo this rent would consume 74% of the median local household income ($69k/yr) (locally 387% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $100k; list at $324k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $304,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (median comp): $178,940
• List price: $324,000
• Delta: 81.07%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225-227 Cherry St	0.18mi	—/—	1,214 (+1%)	24mo	$89,900	$74	70
168 Morrison Ave	0.72mi	—/—	1,256 (+4%)	1mo	$100,000	$80	58

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $17,888
• Equity at exit: $48,309

10-year hold

• IRR: 14.5%
• Equity multiple: 2.17×
• Total profit: $106,393
• Equity at exit: $28,014

Cash invested: $90,720 (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 70364

• Active inventory: 311
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $4,232 medium
• Mortgage (P&I): −$1,699
• Tax est. 1.5%: −$405 /mo · $4,860/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$889
• Net cashflow: $1,104

Break-even live

Break-even rent $2,834

Max offer price $324,000

Occupancy floor 69%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,250
▸ 3× units	1	1	$2,982
Total (4 units)			$4,232

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: $81,000
• Closing costs: $9,720
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
179 Garnet St Unit B Houma, LA	3.0	1.0	1100	$1,200	$1.09	44d	1	0.35mi
735 A School St Unit A Houma, LA	3.0	2.0	1450	$1,600	$1.10	44d	1	0.43mi
624 Gabasse St Unit 1 Houma, LA	1.0	1.0	750	$975	$1.30	44d	1	0.58mi
885 High St Houma, LA	2.0	1.0	801	$1,100	$1.37	44d	1	0.67mi
1140 Church St Unit B Houma, LA	2.0	1.0	1000	$1,150	$1.15	44d	1	0.91mi
810 Saadi St Houma, LA	2.0	1.0	754	$1,300	$1.72	44d	3	1.07mi
100 Chateau Ct Houma, LA	2.0	2.5	988	$1,262	$1.28	44d	5	1.32mi
208 Monarch Dr Unit 103-A Houma, LA	2.0	1.0	775	$1,000	$1.29	44d	1	1.33mi
110 Marcel Ln Unit A Houma, LA	2.0	1.0	908	$1,350	$1.49	44d	1	1.42mi
108 Marcel Ln Unit B Houma, LA	2.0	1.0	908	$1,350	$1.49	44d	1	1.47mi

Listing history 28 events

1. 2026-06-19
   days on market $324,000 Active 64 DOM
2. 2026-06-18
   days on market $324,000 Active 63 DOM
3. 2026-06-17
   days on market $324,000 Active 62 DOM
4. 2026-06-16
   days on market $324,000 Active 61 DOM
5. 2026-06-15
   days on market $324,000 Active 60 DOM
6. 2026-06-14
   days on market $324,000 Active 58 DOM
7. 2026-06-13
   days on market $324,000 Active 57 DOM
8. 2026-06-10
   days on market $324,000 Active 55 DOM
9. 2026-06-09
   days on market $324,000 Active 54 DOM
10. 2026-06-08
    days on market $324,000 Active 53 DOM
11. 2026-06-07
    days on market $324,000 Active 52 DOM
12. 2026-06-05
    days on market $324,000 Active 49 DOM
13. 2026-06-03
    days on market $324,000 Active 48 DOM
14. 2026-06-02
    days on market $324,000 Active 47 DOM
15. 2026-06-01
    days on market $324,000 Active 46 DOM
16. 2026-05-31
    days on market $324,000 Active 45 DOM
17. 2026-05-30
    days on market $324,000 Active 44 DOM
18. 2026-04-16
    listed $324,000 Active 881-char remark

    Show marketing remark (881 chars)

    There are currently four units with a potential fifth unit that has already been built, but never renovated! All of these units have been updated and renovated and come COMPLETELY FURNISHED AND DECORATED! ALL APPLIANCES ARE ALSO INCLUDED! UNIT A Is a three bedroom, two bathroom house. UNIT B Is a one bedroom, one bathroom unit and is located behind unit A. UNIT C Which is above unit B is a one bedroom, one bathroom unit. UNIT D Is a one bedroom, one bathroom unit directly above a double garage Potentially, Unit F has 267 ft. ² and is ready to be completed. Directly below this unit is potential storage that is 233 ft. ². Currently unit A is being rented for $1900 a month. Previously units B was rented for $1295 a month. Unit C it is currently rented for $1200 a month andunit D is currently rented for $1200 a month. This property is located in a flood zone X

19. 2026-04-15
    listed $324,000 Active 866-char remark

    Show marketing remark (866 chars)

    There are currently four units with a potential fifth unit that has already been built, but never renovated! All of these units have been updated and renovated and come COMPLETELY FURNISHED AND DECORATED! ALL APPLIANCES ARE ALSO INCLUDED! UNIT A Is a three bedroom, two bathroom house. UNIT B Is a one bedroom, one bathroom unit and is located behind unit A. UNIT C Which is above unit B is a one bedroom, one bathroom unit. UNIT D Is a one bedroom, one bathroom unit directly above a double garage Potentially, Unit F has 267 ft.2 and is ready to be completed. Directly below this unit is potential storage that is 233 ft.2. Currently unit A is being rented for $1900 a month. Previously units B was rented for $1295 a month. Unit C it is currently rented for $1200 a month andunit D is currently rented for $1200 a month. This property is located in a flood zone X

20. 2020-11-06
    soldstatus
21. 2020-11-06
    soldstatus $100,000
22. 2020-05-17
    listed $120,000
23. 2020-05-17
    listed $120,000
24. 2004-11-22
    soldstatus $50,500
25. 2004-11-08
    soldstatus
26. 2004-10-29
    soldstatus
27. 2004-06-16
    soldstatus
28. 2001-11-21
    soldstatus $29,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 58% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,784
• − Mortgage interest: −$18,149
• − Property taxes: −$4,860
• − Insurance: −$1,620
• − Repairs & maintenance: −$4,063
• − Management: −$4,063
• − Depreciation: −$9,425
• Taxable income: $8,604
• Est. tax owed @ 24.0%: −$2,065
• After-tax cash flow: $11,185/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: Terrebonne Parish
• NCES district ID: 2201740
• Math proficiency: 32% ▼ -36.00%
• Reading proficiency: 46% ▼ -30.00%
• Median HH income: $47,612
• Composite: 33.38/100
• National rank: #5480
• State rank: #23 of 98 in LA

Livability — Houma

• Score: 64/100
• State rank: #165
• US rank: #13966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houma, LA
• County: Terrebonne Parish · 57,290 people
• City population: 57,290
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 28,716
• Household income: $68,843
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 387.0

Population outlook (Terrebonne County) Hauer SSP2

• Today (2025): 118,724 people
• By 2030: 120,321 · +1.3%
• By 2040: 121,894 · +2.7%
• By 2050: 121,119 · +2.0%
• By 2075: 117,270 · -1.2%
• By 2100: 107,544 · -9.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 16% Hispanic / Latino 9% Two or more races 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 17% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Terrebonne

• 2024 margin: Solid R (+51.8) · D 23.5% · R 75.3% · Other 1.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -40.9pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+50.0 2016: R+48.4 2012: R+41.2 2008: R+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.75%
• Current HPI: 113.1047
• Rent YoY: —
• Metro: Houma-Thibodaux, LA
• 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

+1017.2% since first listed

11 events — show timeline

• 2026-04-16 Listed $324,000 GBRMLS
• 2026-04-15 Listed $324,000 AcadianaMLS
• 2020-11-06 Sold (Public Records) $100,000 Public Records
• 2020-11-06 Sold (MLS) — GBRMLS
• 2020-05-17 Listed $120,000 GBRMLS
• 2020-05-17 Listed $120,000 AcadianaMLS
• 2004-11-22 Sold (Public Records) $50,500 Public Records
• 2004-11-08 Sold (Public Records) — Public Records
• 2004-10-29 Sold (Public Records) — Public Records
• 2004-06-16 Sold (Public Records) — Public Records
• 2001-11-21 Sold (Public Records) $29,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $596 · -2.3% YoY. Source: county tax records.