304 - 306 Brashear Ave · Morgan City, LA 70380

$115,000

None bd · None ba · 2,065 sqft · SingleFamily · 11 Days on market

4,356 sqft lot $56/sqft · 32% below area Est $169k · 32% 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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.0/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This property includes two separate homes at 304 and 306 Brashear Ave, right in the heart of the LA Shrimp and Petroleum Festival grounds and close to Lawrence Park. The home at 304 Brashear Ave. offers 3 bedrooms and 1 bath, while 306 Brashear Ave. features 2 bedrooms and 1 bath. Schedule your showing today! All measurements and zones should be verified by the buyer.

Key facts

• 4,356 sq ft lot
• Garage
• Listed 11 days

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water, private water, and well available; Public sewer
• Home design: Residential income property; Duplex
• Construction: Vinyl siding and frame construction; Asbestos siding present; Slab foundation; Composition and metal roof
• Exterior features: Front porch; Partial chain-link fencing; Corner lot

Interior

• Kitchen: Range, Oven, Refrigerator
• Flooring: Slate
• Heating & cooling: Central heating; Other heating; Central air; Window AC units
• Interior features: Range, Oven, Refrigerator; Slate flooring
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 9.9% vs local median 4.6% in Morgan City — 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 67/100 on livability (#111 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• St. Mary Parish (town): math 28% / reading 39% proficiency, ranked #37 of 98 in LA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 82 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 37 units permitted in St. Mary Parish in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• St. Mary County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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: moderate 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 $115,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.96%
• DSCR: 1.58
• GRM: 7.0

CMA / ARV

• ARV (median comp): $168,533
• List price: $115,000
• Delta: -31.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 Grove St #1	0.31mi	1/2.0	1,906 (-8%)	3mo	$296,800	$156	70

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: 2.8%
• Equity multiple: 1.11×
• Total profit: $3,508
• Equity at exit: $17,147

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $31,528
• Equity at exit: $9,943

Cash invested: $32,200 (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 70380

• Home prices YoY: -34.8%
• Active inventory: 82
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$87 /mo · $1,049/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $348

Break-even live

Break-even rent $935

Max offer price $115,000

Occupancy floor 70%

Sensitivity live

Price	-10% $413	-5% $380	+0% $348	+5% $315	+10% $283
Rent	-10% $239	-5% $294	+0% $348	+5% $402	+10% $457
Rate	-1.0pp $406	-0.5pp $377	base $348	+0.5pp $318	+1.0pp $288

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1009 Poplar St Morgan City, LA	3.0	2.0	1600	$1,375	$0.86	45d	1	1.16mi

Listing history 6 events

1. 2026-05-18
   status Pending 400-char remark

   Show marketing remark (400 chars)

   Great investment opportunity! This property includes two separate homes at 304 and 306 Brashear Ave, right in the heart of the LA Shrimp and Petroleum Festival grounds and close to Lawrence Park. The home at 304 Brashear Ave. offers 3 bedrooms and 1 bath, while 306 Brashear Ave. features 2 bedrooms and 1 bath. Schedule your showing today! All measurements and zones should be verified by the buyer.

2. 2026-05-18
   status Pending 400-char remark

   Show marketing remark (400 chars)

   Great investment opportunity! This property includes two separate homes at 304 and 306 Brashear Ave, right in the heart of the LA Shrimp and Petroleum Festival grounds and close to Lawrence Park. The home at 304 Brashear Ave. offers 3 bedrooms and 1 bath, while 306 Brashear Ave. features 2 bedrooms and 1 bath. Schedule your showing today! All measurements and zones should be verified by the buyer.

3. 2026-05-07
   listed $115,000 Active 400-char remark

   Show marketing remark (400 chars)

   Great investment opportunity! This property includes two separate homes at 304 and 306 Brashear Ave, right in the heart of the LA Shrimp and Petroleum Festival grounds and close to Lawrence Park. The home at 304 Brashear Ave. offers 3 bedrooms and 1 bath, while 306 Brashear Ave. features 2 bedrooms and 1 bath. Schedule your showing today! All measurements and zones should be verified by the buyer.

4. 2026-05-07
   listed $115,000 Active 400-char remark

   Show marketing remark (400 chars)

   Great investment opportunity! This property includes two separate homes at 304 and 306 Brashear Ave, right in the heart of the LA Shrimp and Petroleum Festival grounds and close to Lawrence Park. The home at 304 Brashear Ave. offers 3 bedrooms and 1 bath, while 306 Brashear Ave. features 2 bedrooms and 1 bath. Schedule your showing today! All measurements and zones should be verified by the buyer.

5. 2019-08-22
   listed $95,000
6. 2019-08-22
   listed $95,000

ⓘ 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: $1,049 · $87/mo
• Projected year-2 tax: $1,049 · $87/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 5/10 Major FEMA zone X (shaded) · 32% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,500
• − Mortgage interest: −$6,442
• − Property taxes: −$1,049
• − Insurance: −$575
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,345
• Taxable income: $2,449
• Est. tax owed @ 24.0%: −$588
• After-tax cash flow: $3,587/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: St. Mary Parish
• NCES district ID: 2201620
• Math proficiency: 28% ▼ -40.00%
• Reading proficiency: 39% ▼ -33.00%
• Median HH income: $39,843
• Composite: 28.1/100
• National rank: #6828
• State rank: #37 of 98 in LA

Livability — Morgan City

• Score: 67/100
• State rank: #111
• US rank: #11015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgan City, LA
• Population (ZIP): 21,043

Population outlook (St. Mary County) Hauer SSP2

• Today (2025): 49,510 people
• By 2030: 47,570 · -3.9%
• By 2040: 43,880 · -11.4%
• By 2050: 40,655 · -17.9%
• By 2075: 37,190 · -24.9%
• By 2100: 38,101 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 15% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 14%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 11% French/Haitian/Cajun 2% Vietnamese 2%

Political lean MEDSL · St. Mary

• 2024 margin: Solid R (+31.9) · D 33.5% · R 65.4% · Other 1.0%
• 2008→2024 swing: -15.1pp toward R · 2008: -16.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+29.1 2016: R+27.6 2012: R+18.8 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.21%
• Current HPI: 99.8137
• 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

+21.1% since first listed

8 events — show timeline

• 2026-06-16 Sold (MLS) — GBRMLS
• 2026-06-16 Sold (MLS) — AcadianaMLS
• 2026-05-18 Pending — AcadianaMLS
• 2026-05-18 Pending — GBRMLS
• 2026-05-07 Listed $115,000 GBRMLS
• 2026-05-07 Listed $115,000 AcadianaMLS
• 2019-08-22 Listed $95,000 AcadianaMLS
• 2019-08-22 Listed $95,000 GBRMLS

Property tax history

+3.0%/yr

Latest (2025): $1,049 · +9.3% YoY. Source: county tax records.