61189 Dogwood Dr · Lacombe, LA 70445

$139,900

2 bd · 2.0 ba · 2,445 sqft · SingleFamily public records · 129 Days on market

Built 1957 2.62 ac lot $57/sqft · 55% below area

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Why this score? — see what drove the C- 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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for country hide away yet still be near to interstate, schools and shopping? This could be it! Bring you imagination and your favorite contractor to design your new dream home. A new build could be in your future or a total renovation. 2.62 Acres, rear 300 feet on Bayou Rouville. Beautiful land. Much of the rear portion is overgrown. Sold strictly as is. No repairs or replacements.

Key facts

• 2.62 acre lot
• Parking
• Built 1957

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (25.8% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $104k (25.8% below list) — sets the bar for cash-flow.
• Cap rate 8.2% vs local median 4.2% in Lacombe — 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 63/100 on livability (#188 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, amenities F, commute F.
• St. Tammany Parish (suburban): math 43% / reading 55% proficiency, ranked #11 of 98 in LA (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chahta-Ima Elementary School (math 34% / reading 44%, grade F, #224 of 646 statewide, top 37%, 325 students, 67% FRL); L.P. Monteleone Junior High School (math 48% / reading 69%, grade B, #13 of 218 statewide, top 6%, 422 students, 36% FRL); Lakeshore High School (math 42% / reading 61%, grade D+, #35 of 265 statewide, top 13%, 949 students, 34% FRL).
• Market conditions: 224 active listings in the ZIP; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Tammany County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $20k (13%) 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; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,751 (25.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (median comp): $316,461
• List price: $139,900
• Delta: -55.79%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -26.8%
• Equity multiple: 0.10×
• Total profit: $-35,416
• Equity at exit: $20,860

10-year hold

• IRR: -23.3%
• Equity multiple: -0.19×
• Total profit: $-46,454
• Equity at exit: $12,096

Cash invested: $39,172 (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 70445

• Home prices YoY: -24.4%
• Active inventory: 224
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,510 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$179 /mo · $2,145/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-205

Break-even live

Break-even rent $1,769

Max offer price $103,751

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-165	+0% $-205	+5% $-244	+10% $-284
Rent	-10% $-324	-5% $-264	+0% $-205	+5% $-145	+10% $-85
Rate	-1.0pp $-134	-0.5pp $-169	base $-205	+0.5pp $-241	+1.0pp $-278

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $139,900 Active 129 DOM
2. 2026-06-18
   days on market $139,900 Active 126 DOM
3. 2026-06-17
   days on market $139,900 Active 125 DOM
4. 2026-06-16
   days on market $139,900 Active 124 DOM
5. 2026-06-15
   days on market $139,900 Active 123 DOM
6. 2026-06-13
   days on market $139,900 Active 121 DOM
7. 2026-06-10
   days on market $139,900 Active 118 DOM
8. 2026-06-09
   days on market $139,900 Active 117 DOM
9. 2026-06-08
   days on market $139,900 Active 116 DOM
10. 2026-06-07
    days on market $139,900 Active 115 DOM
11. 2026-06-03
    days on market $139,900 Active 111 DOM
12. 2026-06-02
    days on market $139,900 Active 110 DOM
13. 2026-06-01
    days on market $139,900 Active 109 DOM
14. 2026-05-31
    days on market $139,900 Active 108 DOM
15. 2026-04-26
    price $139,900 392-char remark

    Show marketing remark (397 chars)

    Looking for country hide away yet still be near to interstate, schools and shopping? This could be it! Bring you imagination and your favorite contractor to design your new dream home. A new build could be in your future or a total renovation. 2.62 Acres, rear 300 feet on Bayou Rouville. Beautiful land. Much of the rear portion is overgrown. Sold strictly as is. No repairs or replacements.

16. 2026-04-26
    price $139,900 397-char remark

    Show marketing remark (397 chars)

    Looking for country hide away yet still be near to interstate, schools and shopping? This could be it! Bring you imagination and your favorite contractor to design your new dream home. A new build could be in your future or a total renovation. 2.62 Acres, rear 300 feet on Bayou Rouville. Beautiful land. Much of the rear portion is overgrown. Sold strictly as is. No repairs or replacements.

17. 2026-02-11
    listed $159,900 Active 392-char remark

    Show marketing remark (397 chars)

    Looking for country hide away yet still be near to interstate, schools and shopping? This could be it! Bring you imagination and your favorite contractor to design your new dream home. A new build could be in your future or a total renovation. 2.62 Acres, rear 300 feet on Bayou Rouville. Beautiful land. Much of the rear portion is overgrown. Sold strictly as is. No repairs or replacements.

18. 2026-02-11
    listed $159,900 Active 397-char remark

    Show marketing remark (397 chars)

    Looking for country hide away yet still be near to interstate, schools and shopping? This could be it! Bring you imagination and your favorite contractor to design your new dream home. A new build could be in your future or a total renovation. 2.62 Acres, rear 300 feet on Bayou Rouville. Beautiful land. Much of the rear portion is overgrown. Sold strictly as is. No repairs or replacements.

19. 2007-11-06
    soldstatus $130,000
20. 2007-11-02
    soldstatus $130,000
21. 2007-04-05
    listed $145,000
22. 2007-04-05
    listed $145,000
23. 1999-10-20
    soldstatus $120,000

ⓘ 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: $2,145 · $179/mo
• Projected year-2 tax: $2,145 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,115
• − Mortgage interest: −$7,837
• − Property taxes: −$2,145
• − Insurance: −$5,818
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$4,070
• Taxable loss: −$4,652
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $-1,339/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: St. Tammany Parish
• NCES district ID: 2201650
• Math proficiency: 43% ▼ -32.00%
• Reading proficiency: 55% ▼ -26.00%
• Median HH income: $61,752
• Composite: 43.04/100
• National rank: #3098
• State rank: #11 of 98 in LA

Livability — Lacombe

• Score: 63/100
• State rank: #188
• US rank: #15034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lacombe, LA
• Population (ZIP): 9,421

Population outlook (St. Tammany County) Hauer SSP2

• Today (2025): 286,725 people
• By 2030: 304,175 · +6.1%
• By 2040: 336,203 · +17.3%
• By 2050: 364,590 · +27.2%
• By 2075: 433,362 · +51.1%
• By 2100: 470,333 · +64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Black 25% Two or more races 15% Hispanic / Latino 12% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 13% Italian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · St. Tammany

• 2024 margin: Solid R (+43.8) · D 27.3% · R 71.1% · Other 1.6%
• 2008→2024 swing: +9.6pp toward D · 2008: -53.4pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+44.2 2016: R+50.8 2012: R+52.2 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.75%
• Current HPI: 178.5418
• 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

+16.6% since first listed

9 events — show timeline

• 2026-04-26 Price Changed $139,900 AcadianaMLS
• 2026-04-26 Price Changed $139,900 GSREIN
• 2026-02-11 Listed $159,900 GSREIN
• 2026-02-11 Listed $159,900 AcadianaMLS
• 2007-11-06 Sold (Public Records) $130,000 Public Records
• 2007-11-02 Sold (MLS) $130,000 GSREIN
• 2007-04-05 Listed $145,000 AcadianaMLS
• 2007-04-05 Listed $145,000 GSREIN
• 1999-10-20 Sold (Public Records) $120,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $2,145 · -3.6% YoY. Source: county tax records.