105 Seneca St

Port Barre, LA 70577

$122,000C+

5 bd · 2.0 ba · 1,501 sqft · Built — · Other · Active · 278 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,247/mo
• Mortgage (P&I): −$640
• Tax + insurance: −$94
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $251/mo
• Annual: $3,015/yr
• Cap rate: 8.76%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• 1% rule: 1.02%
• Cash to close: $34,160

Investor read

• This is a 5-bed/2.0-bath other listed at $122k.
• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• It's been on market 278 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($843 loan paydown + $822 appreciation (0.7% local appreciation)).
• Location reads 68/100 on livability (#85 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• St. Landry Parish (town): math 20% / reading 33% proficiency, ranked #54 of 98 in LA (top 55%) — 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: 28 active listings in the ZIP; 142 units permitted in St. Landry Parish in 2024 (0 in 5+ unit buildings).
• St. Landry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $122k implies a 336% gain — meaningful room to come down on a strong offer.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.