18675 Sidney

Grosse Tete, LA 70740

$189,900D-

3 bd · 3.0 ba · 3,300 sqft · Built 1969 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,328/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$279
• Net cashflow: $-177/mo
• Annual: $-2,124/yr
• Cap rate: 5.17%
• Cash-on-cash: -4.00%
• DSCR: 0.82
• 1% rule: 0.70%
• Cash to close: $53,172

Investor read

• This is a 3-bed/3.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (30.1% below list).
• It's been on market 40 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $133k (30.1% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#330 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; 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.
• Zoned schools: North Iberville Elementary (math 22% / reading 32%, grade F, #359 of 646 statewide, top 57%, 285 students, 82% FRL); Plaquemine Senior High School (math 23% / reading 36%, grade F, #127 of 265 statewide, top 49%, 1,131 students, 66% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: 6 active listings in the ZIP; 117 units permitted in Iberville Parish in 2024 (0 in 5+ unit buildings).
• Iberville County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $19k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.