208 West 13th St

Larose, LA 70373

$1,400C-

3 bd · 2.0 ba · 1,773 sqft · Built 1994 · Other · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,215/mo
• Mortgage (P&I): −$7
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $825/mo
• Annual: $9,898/yr
• Cap rate: 820.59%
• Cash-on-cash: 2908.22%
• DSCR: 130.40
• 1% rule: 86.77%
• Cash to close: $392

Investor read

• This is a 3-bed/2.0-bath other listed at $1k.
• At list price, monthly cash flow is $825 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1k).
• It's been on market 30 days — a 2% lower offer ($1k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1k (1.5% below list) — sets the bar for market timing.
• In year one you build about $95 of equity ($10 loan paydown + $85 appreciation (6.1% local appreciation)).
• Location reads 62/100 on livability (#209 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, schools B+; Watch: employment D+, crime D, amenities F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 57 active listings in the ZIP; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).
• 15 sale attempts since 12y 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.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $392 cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A99 (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 820.6% vs local median 2.0% in Larose — 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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?
• 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.