509 Harriet St · New Iberia, LA 70560

$56,200

2 bd · 1.0 ba · 1,125 sqft · Other · 83 Days on market

4,791 sqft lot $50/sqft · 8% below area Est $61k · 8% 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 +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of New Iberia, this income producing property is calling your name! This 1,125 square foot, 1 story home features 2 Beds & 1 Bath. Situated on a tenth of an acre lot, it is also located in Flood Zone X. This property presents a strong opportunity for portfolio growth with an existing rental agreement in place. It is currently leased for $675.00 monthly. This property can be purchased individually or as part of a package that includes 10 properties. Call today for more information!

Key facts

• 4,791 sq ft lot
• Parking
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $56k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($828 rent vs $56k).
• Recommended offer: $53k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 5.9% in New Iberia — 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.

Location & tenants

• Location reads 73/100 on livability (#33 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, crime F, employment F.
• Iberia Parish (other): math 32% / reading 43% proficiency, ranked #27 of 98 in LA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 238 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 94 units permitted in Iberia Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $389 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Iberia County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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.
• Current owner paid $37k; list at $56k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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.

Recommended offer $52,828 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 12.80%
• Cash-on-cash: 23.25%
• DSCR: 2.03
• GRM: 5.7

CMA / ARV

• ARV (median comp): $60,782
• List price: $56,200
• Delta: -7.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.65×
• Total profit: $10,298
• Equity at exit: $8,380

10-year hold

• IRR: 24.8%
• Equity multiple: 3.16×
• Total profit: $33,923
• Equity at exit: $4,859

Cash invested: $15,736 (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 70560

• Home prices YoY: -29.8%
• Active inventory: 238
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $828 medium
• Mortgage (P&I): −$295
• Tax from tax record: −$31 /mo · $375/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $305

Break-even live

Break-even rent $442

Max offer price $56,200

Occupancy floor 58%

Sensitivity live

Price	-10% $337	-5% $321	+0% $305	+5% $289	+10% $273
Rent	-10% $239	-5% $272	+0% $305	+5% $338	+10% $370
Rate	-1.0pp $333	-0.5pp $319	base $305	+0.5pp $290	+1.0pp $275

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: $14,050
• Closing costs: $1,686
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Hacker St New Iberia, LA	2.0	1.0	1000	$950	$0.95	45d	1	0.26mi
419 Charles St New Iberia, LA	1.0	1.0	800	$600	$0.75	45d	1	0.52mi
1500 Adam St New Iberia, LA	2.0	1.0	800	$850	$1.06	45d	1	1.04mi
405 Anderson St New Iberia, LA	2.0	1.0	950	$650	$0.68	45d	1	1.30mi

Listing history 25 events

1. 2026-06-22
   days on market $56,200 Active 83 DOM
2. 2026-06-18
   days on market $56,200 Active 80 DOM
3. 2026-06-17
   days on market $56,200 Active 79 DOM
4. 2026-06-16
   days on market $56,200 Active 78 DOM
5. 2026-06-15
   days on market $56,200 Active 77 DOM
6. 2026-06-14
   days on market $56,200 Active 75 DOM
7. 2026-06-13
   days on market $56,200 Active 74 DOM
8. 2026-06-10
   days on market $56,200 Active 72 DOM
9. 2026-06-09
   days on market $56,200 Active 71 DOM
10. 2026-06-08
    days on market $56,200 Active 70 DOM
11. 2026-06-07
    days on market $56,200 Active 69 DOM
12. 2026-06-05
    days on market $56,200 Active 66 DOM
13. 2026-06-03
    days on market $56,200 Active 65 DOM
14. 2026-06-02
    days on market $56,200 Active 64 DOM
15. 2026-06-01
    days on market $56,200 Active 63 DOM
16. 2026-05-31
    days on market $56,200 Active 62 DOM
17. 2026-05-30
    days on market $56,200 Active 61 DOM
18. 2026-03-30
    listed $56,200 Active 511-char remark

    Show marketing remark (511 chars)

    Located in the heart of New Iberia, this income producing property is calling your name! This 1,125 square foot, 1 story home features 2 Beds & 1 Bath. Situated on a tenth of an acre lot, it is also located in Flood Zone X. This property presents a strong opportunity for portfolio growth with an existing rental agreement in place. It is currently leased for $675.00 monthly. This property can be purchased individually or as part of a package that includes 10 properties. Call today for more information!

19. 2025-04-14
    listed $74,200 Active
20. 2014-10-20
    soldstatus $37,000
21. 2004-07-14
    soldstatus $27,000
22. 2004-07-12
    soldstatus $27,000
23. 2004-05-21
    listed $29,900
24. 2002-03-19
    soldstatus $20,600
25. 2002-01-22
    listed $29,900

ⓘ 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: $375 · $31/mo
• Projected year-2 tax: $375 · $31/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,938
• − Mortgage interest: −$3,148
• − Property taxes: −$375
• − Insurance: −$281
• − Repairs & maintenance: −$795
• − Management: −$795
• − Depreciation: −$1,635
• Taxable income: $2,909
• Est. tax owed @ 24.0%: −$698
• After-tax cash flow: $2,960/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: Iberia Parish
• NCES district ID: 2200720
• Math proficiency: 32% ▼ -43.00%
• Reading proficiency: 43% ▼ -35.00%
• Median HH income: $43,289
• Composite: 31.74/100
• National rank: #5904
• State rank: #27 of 98 in LA

Livability — New Iberia

• Score: 73/100
• State rank: #33
• US rank: #5376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Iberia, LA
• Population (ZIP): 37,589

Population outlook (Iberia County) Hauer SSP2

• Today (2025): 74,632 people
• By 2030: 74,368 · -0.4%
• By 2040: 73,223 · -1.9%
• By 2050: 71,728 · -3.9%
• By 2075: 69,028 · -7.5%
• By 2100: 65,018 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 35% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 11% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 3% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Iberia

• 2024 margin: Solid R (+34.1) · D 32.4% · R 66.5% · Other 1.1%
• 2008→2024 swing: -11.1pp toward R · 2008: -23.0pp · 2024: -34.1pp
• All cycles: 2024: R+34.1 2020: R+31.2 2016: R+31.4 2012: R+26.2 2008: R+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.82%
• Current HPI: 154.9018
• 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

+88.0% since first listed

8 events — show timeline

• 2026-03-30 Listed $56,200 AcadianaMLS
• 2025-04-14 Listed $74,200 AcadianaMLS
• 2014-10-20 Sold (Public Records) $37,000 Public Records
• 2004-07-14 Sold (Public Records) $27,000 Public Records
• 2004-07-12 Sold (MLS) $27,000 AcadianaMLS
• 2004-05-21 Listed $29,900 AcadianaMLS
• 2002-03-19 Sold (MLS) $20,600 AcadianaMLS
• 2002-01-22 Listed $29,900 AcadianaMLS

Property tax history

-1.3%/yr

Latest (2025): $375 · +2.0% YoY. Source: county tax records.