131 Belle Grove Dr

Laplace, LA 70068

$290,000D-

5 bd · 3.5 ba · 3,100 sqft · Built 2022 · Land · Active · 383 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,025/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$708
• HOA: −$0
• Vac / Maint / Mgmt: −$425
• Net cashflow: $-630/mo
• Annual: $-7,557/yr
• Cap rate: 5.45%
• Cash-on-cash: -3.00%
• DSCR: 0.87
• 1% rule: 0.70%
• Cash to close: $81,200

Investor read

• This is a 5-bed/3.5-bath land listed at $290k.
• At list price, monthly cash flow is $-630 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (30.2% below list).
• It's been on market 383 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (38.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#61 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• St. John The Baptist Parish (suburban): math 13% / reading 25% proficiency, ranked #68 of 98 in LA (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lake Pontchartrain Elementary School (math 12% / reading 24%, grade F, #472 of 646 statewide, top 74%, 754 students, 28% FRL); East St. John Preparatory Academy (math 6% / reading 16%, grade F, #195 of 218 statewide, top 90%, 392 students, 63% FRL); East St. John High School (math 19% / reading 25%, grade F, #171 of 265 statewide, top 66%, 1,459 students, 48% FRL) — zoned schools average 46% FRL vs 82% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 179 active listings in the ZIP; 61 units permitted in St. John the Baptist Parish in 2024 (0 in 5+ unit buildings).
• St. John the Baptist County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $290k implies a 729% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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.
• This rent runs 35% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 383 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.