700 San Jacinto Cir

New Iberia, LA 70563

$167,900C

3 bd · 2.0 ba · 1,300 sqft · Built — · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,662/mo
• Mortgage (P&I): −$880
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $333/mo
• Annual: $4,001/yr
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• 1% rule: 0.99%
• Cash to close: $47,012

Investor read

• This is a 3-bed/2.0-bath single-family listed at $168k.
• At list price, monthly cash flow is $333 ($4k/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 $166k (1.0% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $166k (1.0% 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 $5k 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: Daspit Road Elementary School (math 42% / reading 41%, grade F, #212 of 646 statewide, top 33%, 478 students, 73% FRL); Belle Place Middle School (math 31% / reading 54%, grade D-, #57 of 218 statewide, top 26%, 413 students, 65% FRL); Westgate High School (math 17% / reading 37%, grade F, #136 of 265 statewide, top 55%, 993 students, 77% FRL).
• Market conditions: 141 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 2 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 $30k; list at $168k implies a 460% 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.
• Cap rate 8.7% vs local median 5.8% 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.

Questions for listing agent

• 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?
• 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.