1428 Anderson St

New Iberia, LA 70560

$185,000D

5 bd · 4.0 ba · 2,908 sqft · Built — · Other · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,533/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$322
• Net cashflow: $66/mo
• Annual: $798/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.54%
• DSCR: 1.07
• 1% rule: 0.83%
• Cash to close: $51,800

Investor read

• This is a 5-bed/4.0-bath other listed at $185k.
• At list price, monthly cash flow is $66 ($798/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 $153k (17.1% below list).
• It's been on market 31 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $153k (17.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Johnston Hopkins Elementary School (math 11% / reading 16%, grade F, #539 of 646 statewide, top 84%, 548 students, 93% FRL); Anderson Middle School (math 19% / reading 38%, grade F, #119 of 218 statewide, top 57%, 399 students, 86% FRL); Westgate High School (math 17% / reading 37%, grade F, #136 of 265 statewide, top 55%, 993 students, 77% FRL) — zoned schools average 85% FRL vs 66% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Iberia Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 238 active listings in the ZIP; 94 units permitted in Iberia Parish in 2024 (0 in 5+ unit buildings).
• Iberia County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $4k; list at $185k implies a 4525% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.