59522 Banks Ln · Amite City, LA 70422

$85,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 29 Days on market

Built 1972 1.43 ac lot Est $161k · 47% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom 1 bath cottage sits on over an acre of land at the end of the street. Great gated outdoor space for entertaining family and friends. If you are a handyman with a knack for making a house a HOME, this property is for YOU!! This can also be a nice investment property. Close to schools, shopping and restaurants. Call to schedule your private tour today!! Motivated Seller!! All offers will be considered.

Key facts

• Close to schools
• Close to restaurants
• Over an acre of land

Tags

• GATED OUTDOOR SPACE
• OVER AN ACRE OF LAND
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Shingle roof
• Construction: Raised foundation; Shingle roof
• Exterior features: Fence; Irregular lot; Outside city limits; Oversized lot; Lot dimensions approximately 293.25 x 240.76 x 209.1; 1.43-acre lot

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#223 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime D, housing D, schools D-.
• Tangipahoa Parish (rural): math 18% / reading 29% proficiency, ranked #63 of 98 in LA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 86 active listings in the ZIP; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 2.67% ✓
• Cap rate: 24.45%
• Cash-on-cash: 64.83%
• DSCR: 3.88
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $161,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 S 1st St	0.55mi	3/2.0	1,150 (+14%)	13mo	$183,500	$160	36

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: 64.0%
• Equity multiple: 3.86×
• Total profit: $68,106
• Equity at exit: $12,674

10-year hold

• IRR: 68.4%
• Equity multiple: 7.92×
• Total profit: $164,703
• Equity at exit: $7,349

Cash invested: $23,800 (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 70422

• Active inventory: 86
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,274 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$29 /mo · $351/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,286

Break-even live

Break-even rent $646

Max offer price $85,000

Occupancy floor 38%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $85,000 Active 29 DOM
2. 2026-06-18
   days on market $85,000 Active 28 DOM
3. 2026-06-17
   days on market $85,000 Active 27 DOM
4. 2026-06-16
   days on market $85,000 Active 26 DOM
5. 2026-06-15
   days on market $85,000 Active 25 DOM
6. 2026-06-14
   days on market $85,000 Active 23 DOM
7. 2026-06-13
   days on market $85,000 Active 22 DOM
8. 2026-06-10
   days on market $85,000 Active 20 DOM
9. 2026-06-09
   days on market $85,000 Active 19 DOM
10. 2026-06-08
    days on market $85,000 Active 18 DOM
11. 2026-06-07
    days on market $85,000 Active 17 DOM
12. 2026-06-05
    days on market $85,000 Active 14 DOM
13. 2026-06-03
    days on market $85,000 Active 13 DOM
14. 2026-06-02
    days on market $85,000 Active 12 DOM
15. 2026-06-01
    days on market $85,000 Active 11 DOM
16. 2026-05-31
    days on market $85,000 Active 10 DOM
17. 2026-05-30
    days on market $85,000 Active 9 DOM
18. 2026-05-21
    listed $85,000 Active

    Show marketing remark (418 chars)

    This 3-bedroom 1 bath cottage sits on over an acre of land at the end of the street. Great gated outdoor space for entertaining family and friends. If you are a handyman with a knack for making a house a HOME, this property is for YOU!! This can also be a nice investment property. Close to schools, shopping and restaurants. Call to schedule your private tour today!! Motivated Seller!! All offers will be considered.

19. 2026-05-21
    listed $85,000 Active 418-char remark

    Show marketing remark (418 chars)

    This 3-bedroom 1 bath cottage sits on over an acre of land at the end of the street. Great gated outdoor space for entertaining family and friends. If you are a handyman with a knack for making a house a HOME, this property is for YOU!! This can also be a nice investment property. Close to schools, shopping and restaurants. Call to schedule your private tour today!! Motivated Seller!! All offers will be considered.

20. 2023-04-26
    price $85,000
21. 2023-02-27
    listed $85,000
22. 2011-05-31
    listed $42,000
23. 2011-05-31
    listed $42,000
24. 2001-01-10
    soldstatus

ⓘ 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: $351 · $29/mo
• Projected year-2 tax: $468 · $39/mo
• Expected delta: +$116/yr (+$10/mo · 33.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,285
• − Mortgage interest: −$4,761
• − Property taxes: −$351
• − Insurance: −$425
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$2,473
• Taxable income: $14,909
• Est. tax owed @ 24.0%: −$3,578
• After-tax cash flow: $11,851/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: Tangipahoa Parish
• NCES district ID: 2201680
• Math proficiency: 18% ▼ -32.00%
• Reading proficiency: 29% ▼ -31.00%
• Median HH income: $41,283
• Composite: 19.94/100
• National rank: #8676
• State rank: #63 of 98 in LA

Livability — Amite City

• Score: 62/100
• State rank: #223
• US rank: #17049

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,670

Population outlook (Tangipahoa County) Hauer SSP2

• Today (2025): 144,204 people
• By 2030: 151,413 · +5.0%
• By 2040: 164,374 · +14.0%
• By 2050: 175,427 · +21.7%
• By 2075: 195,165 · +35.3%
• By 2100: 201,641 · +39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 50% Black 42% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 5% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Tangipahoa

• 2024 margin: Solid R (+37.4) · D 30.6% · R 68.0% · Other 1.3%
• 2008→2024 swing: -6.5pp toward R · 2008: -30.9pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+32.8 2016: R+32.6 2012: R+27.7 2008: R+30.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -132.04%
• Current HPI: 111.207
• 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

+102.4% since first listed

7 events — show timeline

• 2026-05-21 Listed $85,000 AcadianaMLS
• 2026-05-21 Listed $85,000 GSREIN
• 2023-04-26 Price Changed $85,000 GSREIN
• 2023-02-27 Listed $85,000 AcadianaMLS
• 2011-05-31 Listed $42,000 GSREIN
• 2011-05-31 Listed $42,000 AcadianaMLS
• 2001-01-10 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $351 · +1.0% YoY. Source: county tax records.