23040 Short St · Plaquemine, LA 70764

$135,000

3 bd · 2.0 ba · 1,823 sqft · SingleFamily · 197 Days on market

Built 1940 10,018 sqft lot $74/sqft · 26% below area Est $182k · 26% under ↓ 27% since listing

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

Key facts

• Detached carport
• Updated kitchen
• Corner lot

Tags

• CORNER LOT
• DETACHED CARPORT
• FULL BATH OUTSIDE
• UPDATED KITCHEN
• BEAD BOARD STYLE CABINETS
• GRANITE SLAB COUNTERS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $292 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.9% in Plaquemine — 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 61/100 on livability (#238 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Iberville Parish (rural): math 23% / reading 34% proficiency, ranked #45 of 98 in LA (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 117 units permitted in Iberville Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iberville County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $181,716
• List price: $135,000
• Delta: -25.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23040 Short St	0.00mi	3/2.0	1,823 (0%)	1mo	$135,000	$74	100
57845 Guidry St	0.39mi	3/2.0	1,930 (+6%)	2mo	$285,000	$148	70
57810 Orange Dr	0.33mi	4/2.5 (+1)	1,974 (+8%)	9mo	$307,500	$156	56
57841 Orange Dr	0.34mi	3/2.0	1,613 (-12%)	14mo	$225,000	$139	53
23095 Dalbor St	0.06mi	2/1.0 (-1)	1,594 (-13%)	19mo	$175,000	$110	51
58240 Randolphs Dr	0.45mi	2/2.0 (-1)	1,564 (-14%)	18mo	$250,000	$160	36
22725 Jade Dr	0.72mi	3/2.5	1,662 (-9%)	22mo	$259,900	$156	32

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-3,284
• Equity at exit: $20,129

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $21,146
• Equity at exit: $11,672

Cash invested: $37,800 (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 70764

• Home prices YoY: -20.1%
• Active inventory: 128
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $292

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 76%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23515 Marshall St Plaquemine, LA	4.0	2.0	1318	$1,550	$1.18	43d	1	0.88mi

Listing history 10 events

1. 2026-05-20
   status Pending 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

2. 2026-05-20
   status Pending 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

3. 2026-04-11
   price $135,000 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

4. 2026-04-11
   price $135,000 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

5. 2026-02-03
   price $150,000 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

6. 2026-02-03
   price $150,000 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

7. 2025-12-05
   price $175,000 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

8. 2025-12-05
   price $175,000 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

9. 2025-10-30
   listed $185,000 Active 654-char remark

   Show marketing remark (654 chars)

   Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

10. 2025-10-30
    listed $185,000 Active 654-char remark

    Show marketing remark (654 chars)

    Charming Historical Turnerville Cottage on a corner lot, with detached carport, small storage area and full bath outside, amazing metal awnings shade front porch with brick steps, metal roof, totally updated kitchen with bead board style cabinets and granite slab counters, travertine backsplash, built in stove and microwave, double door fridge, 2 window seats, huge rear den addition with ventless gas fireplace, all laminate floors on first floor, breakfast bar, original brick fireplace in living room (not operable), brand new bath with clawfoot tub, oversized laundry room with large closet, 2 bedrooms up stairs, double pane windows on lower level

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$3,927
• Taxable income: $1,435
• Est. tax owed @ 24.0%: −$344
• After-tax cash flow: $3,154/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: Iberville Parish
• NCES district ID: 2200750
• Math proficiency: 23% ▼ -43.00%
• Reading proficiency: 34% ▼ -35.00%
• Median HH income: $44,386
• Composite: 24.38/100
• National rank: #7690
• State rank: #45 of 98 in LA

Livability — Plaquemine

• Score: 61/100
• State rank: #238
• US rank: #18111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plaquemine, LA
• Population (ZIP): 15,046

Population outlook (Iberville County) Hauer SSP2

• Today (2025): 33,056 people
• By 2030: 32,819 · -0.7%
• By 2040: 32,043 · -3.1%
• By 2050: 30,956 · -6.4%
• By 2075: 28,314 · -14.3%
• By 2100: 23,559 · -28.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 50% Black 39% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 13% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Iberville

• 2024 margin: Toss-up / Even · D 48.9% · R 49.6% · Other 1.5%
• 2008→2024 swing: -11.9pp toward R · 2008: 11.2pp · 2024: -0.7pp
• All cycles: 2024: R+0.7 2020: D+3.7 2016: D+6.3 2012: D+13.4 2008: D+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.08%
• Current HPI: 178.9188
• 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

-27.0% since first listed

10 events — show timeline

• 2026-05-20 Pending — AcadianaMLS
• 2026-05-20 Pending — GBRMLS
• 2026-04-11 Price Changed $135,000 GBRMLS
• 2026-04-11 Price Changed $135,000 AcadianaMLS
• 2026-02-03 Price Changed $150,000 AcadianaMLS
• 2026-02-03 Price Changed $150,000 GBRMLS
• 2025-12-05 Price Changed $175,000 AcadianaMLS
• 2025-12-05 Price Changed $175,000 GBRMLS
• 2025-10-30 Listed $185,000 GBRMLS
• 2025-10-30 Listed $185,000 AcadianaMLS

Property tax history

+0.1%/yr

Latest (2024): $226 · +0.2% YoY. Source: county tax records.