187 Wildwood Dr

Buras, LA 70041

$49,000B

3 bd · 1.0 ba · 840 sqft · Built 1989 · Other · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $950/mo
• Mortgage (P&I): −$257
• Tax + insurance: −$508
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $-15/mo
• Annual: $-176/yr
• Cap rate: 16.38%
• Cash-on-cash: 36.02%
• DSCR: 2.60
• 1% rule: 1.94%
• Cash to close: $13,720

Investor read

• This is a 3-bed/1.0-bath other listed at $49k.
• At list price, monthly cash flow is $-15 ($-176/yr) — negative.
• To cash-flow at today's rent, offer at most $47k (4.3% below list).
• Meets the 1% rule at list price ($950 rent vs $49k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $47k (4.3% below list) — sets the bar for cash-flow.
• In year one you build about $197 of equity ($339 loan paydown + $-142 appreciation (-0.3% local appreciation)).
• Location reads 52/100 on livability (#409 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools D+, crime F.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 88 units permitted in Plaquemines Parish in 2024 (0 in 5+ unit buildings).
• Plaquemines County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 4y ago; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.