112 Norah Ln

Grand Isle, LA 70358

$179,000D

3 bd · 2.0 ba · 1,568 sqft · Built 2008 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,418/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$193
• HOA: −$0
• Vac / Maint / Mgmt: −$298
• Net cashflow: $-11/mo
• Annual: $-129/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• 1% rule: 0.79%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $-11 ($-129/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (20.8% below list).
• It's been on market 55 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $142k (20.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.2% local appreciation)).
• Location reads 52/100 on livability (#402 in LA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A, cost of living A; Watch: amenities F, commute F, employment F.
• Jefferson Parish (suburban): math 24% / reading 34% proficiency, ranked #44 of 98 in LA (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 227 active listings in the ZIP; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 4 sale attempts since 3y ago; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $179k implies a 2883% gain — meaningful room to come down on a strong offer.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.2% vs local median 1.6% in Grand Isle — 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.

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 55 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.