348 Pete Dartez St

Moss Bluff, LA 70611

$260,000C-

4 bd · 3.0 ba · 2,521 sqft · Built 2003 · MultiFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,574/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$541
• Net cashflow: $444/mo
• Annual: $5,324/yr
• Cap rate: 8.34%
• Cash-on-cash: 7.31%
• DSCR: 1.33
• 1% rule: 0.99%
• Cash to close: $72,800

Investor read

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $260k.
• At list price, monthly cash flow is $444 ($5k/yr) — positive. Per door: $222/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (1.0% below list).
• It's been on market 28 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#39 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: schools D+, amenities F, commute F.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 322 active listings in the ZIP; solid renter incomes; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• Cap rate 8.3% vs local median 3.5% in Moss Bluff — 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.
• This rent runs 30% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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 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.