204 S Second St · Ponchatoula, LA 70454

$225,000

3 bd · 2.5 ba · 2,902 sqft · SingleFamily public records · 28 Days on market

Built 1949 Est $380k · 41% under

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER. Older home with large rooms and plenty of closet space. Hardwood, ceramic, and vinyl floors with lots of potential. Located on a corner lot and situated on two city lots (100 X 200. Newer, nice large storage shed/work shop. Great location, quiet neighborhood, near school and about 4 blocks to downtown area. Central A/C recently checked and working. Heater does not work. Will need some updating, priced accordingly.

Key facts

• Large rooms
• Quiet neighborhood
• Two city lots

Tags

• LARGE ROOMS
• PLENTY OF CLOSET SPACE
• CORNER LOT
• TWO CITY LOTS
• LARGE STORAGE SHED
• QUIET NEIGHBORHOOD

Property features AI

Exterior

• Parking: Carport with two spaces; Boat parking; RV access/parking
• Utilities: Public water; Public sewer
• Home design: Single-story house; Property has had additions and some remodeling since built
• Construction: Brick veneer, frame, and vinyl siding exterior; Asphalt shingle roof; Raised and slab foundation; Average condition
• Exterior features: Covered patio/porch; Shed(s); Workshop; Corner lot; City lot; Rectangular lot; Lot dimensions approximately 100 x 200

Interior

• Kitchen: Cooktop; Oven; Range; Dishwasher; Refrigerator
• Bedrooms: Total rooms: 8
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Ceiling fans; Pantry; Wood-burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (15.8% below list).
• Recommended offer: $190k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.2% in Ponchatoula — 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 68/100 on livability (#91 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D, crime D-, amenities F.
• 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.
• Zoned schools: Tucker Memorial Elementary School (709 students, 67% FRL); Ponchatoula Junior High School (math 18% / reading 37%, grade F, #127 of 218 statewide, top 60%, 770 students, 60% FRL); Ponchatoula High School (math 29% / reading 40%, grade F, #106 of 265 statewide, top 43%, 2,262 students, 51% FRL).
• Market conditions: Rents flat; 527 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• This rent runs 32% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $72k; list at $225k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,508 (15.8% below list)

Questions for the listing agent

1. Built in 1949 — 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 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?
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: 0.84% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $380,162
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Colver Dr	0.28mi	3/2.5	2,740 (-6%)	1mo	$320,000	$117	77
25282 Kingfisher Dr	0.44mi	4/2.5 (+1)	2,782 (-4%)	10mo	$365,275	$131	59
42311 Blue Bay Dr	0.44mi	4/2.0 (+1)	2,750 (-5%)	24mo	$336,795	$122	44
215 N 6th St	0.60mi	3/2.0	2,493 (-14%)	9mo	$495,000	$199	39
301 N 7th St	0.71mi	3/2.5	2,477 (-15%)	4mo	$418,700	$169	39
333 N 7th St	0.74mi	2/2.0 (-1)	2,802 (-3%)	17mo	$455,000	$162	38
150 Camarosa Dr	0.71mi	4/2.5 (+1)	2,800 (-4%)	23mo	$336,000	$120	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 · 0.66% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.51×
• Total profit: $-31,069
• Equity at exit: $33,548

10-year hold

• IRR: -9.0%
• Equity multiple: 0.49×
• Total profit: $-31,853
• Equity at exit: $19,454

Cash invested: $63,000 (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 70454

• Rents YoY: 0.7%
• Active inventory: 527
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$69 /mo · $825/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $155

Break-even live

Break-even rent $1,699

Max offer price $225,000

Occupancy floor 87%

Sensitivity live

Price	-10% $282	-5% $218	+0% $155	+5% $91	+10% $27
Rent	-10% $5	-5% $80	+0% $155	+5% $230	+10% $304
Rate	-1.0pp $268	-0.5pp $212	base $155	+0.5pp $96	+1.0pp $37

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18158-0 Logan Ct Ponchatoula, LA	4.0	2.0	2079	$2,000	$0.96	16d	1	1.32mi

Listing history 18 events

1. 2026-06-21
   days on market $225,000 Active 28 DOM
2. 2026-06-19
   days on market $225,000 Active 26 DOM
3. 2026-06-18
   days on market $225,000 Active 25 DOM
4. 2026-06-17
   days on market $225,000 Active 24 DOM
5. 2026-06-16
   days on market $225,000 Active 23 DOM
6. 2026-06-15
   days on market $225,000 Active 22 DOM
7. 2026-06-14
   days on market $225,000 Active 20 DOM
8. 2026-06-13
   remarks 436-char remark
9. 2026-06-13
   statusdays on market $225,000 Active 19 DOM
10. 2026-06-05
    statusdays on market $225,000 Pending 17 DOM
11. 2026-06-03
    days on market $225,000 Active 16 DOM
12. 2026-06-02
    days on market $225,000 Active 15 DOM
13. 2026-06-01
    days on market $225,000 Active 14 DOM
14. 2026-05-31
    days on market $225,000 Active 13 DOM
15. 2026-05-30
    days on market $225,000 Active 12 DOM
16. 2026-05-18
    listed $225,000 Active

    Show marketing remark (435 chars)

    MOTIVATED SELLER. Older home with large rooms and plenty of closet space. Hardwood, ceramic, and vinyl floors with lots of potential. Located on a corner lot and situated on two city lots (100 X 200. Newer, nice large storage shed/work shop. Great location, quiet neighborhood, near school and about 4 blocks to downtown area. Central A/C recently checked and working. Heater does not work. Will need some updating, priced accordingly.

17. 2026-05-18
    listed $225,000 Active 417-char remark

    Show marketing remark (435 chars)

    MOTIVATED SELLER. Older home with large rooms and plenty of closet space. Hardwood, ceramic, and vinyl floors with lots of potential. Located on a corner lot and situated on two city lots (100 X 200. Newer, nice large storage shed/work shop. Great location, quiet neighborhood, near school and about 4 blocks to downtown area. Central A/C recently checked and working. Heater does not work. Will need some updating, priced accordingly.

18. 1993-11-15
    soldstatus $72,000

ⓘ 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: $825 · $69/mo
• Projected year-2 tax: $1,238 · $103/mo
• Expected delta: +$413/yr (+$34/mo · 50.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 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: $22,741
• − Mortgage interest: −$12,603
• − Property taxes: −$825
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$6,545
• Taxable loss: −$1,996
• Est. tax savings @ 24.0%: +$479
• After-tax cash flow: $2,336/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 — Ponchatoula

• Score: 68/100
• State rank: #91
• US rank: #9755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ponchatoula, LA
• County: Tangipahoa Parish · 85,958 people
• City population: 34,564
• Metro: Hammond, LA
• Population (ZIP): 34,564
• Household income: $71,611
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 479.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 15% Slovak 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -83.55%
• Current HPI: 129.6069
• Rent YoY: ▲ 0.66%
• Metro: Hammond, LA
• 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

+212.5% since first listed

7 events — show timeline

• 2026-06-10 Relisted — AcadianaMLS
• 2026-06-10 Relisted — GSREIN
• 2026-06-04 Pending — AcadianaMLS
• 2026-06-04 Pending — GSREIN
• 2026-05-18 Listed $225,000 GSREIN
• 2026-05-18 Listed $225,000 AcadianaMLS
• 1993-11-15 Sold (Public Records) $72,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $825 · +1.5% YoY. Source: county tax records.