38437 Highland Terrace Ave · Watson, LA 70706

$240,000

4 bd · 2.0 ba · 2,008 sqft · SingleFamily · 43 Days on market

Built 2010 0.31 ac lot $120/sqft · at area comps Est $245k · at est.

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Why this score? — see what drove the D- 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 +12.0/30.0
• ARV discount +8.3/15.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year.Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets.Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

Key facts

• 0.31 acre lot
• Garage
• Built 2010

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-57 ($-684/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (20.8% below list).
• Recommended offer: $190k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.8% in Watson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#50 in LA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Livingston Parish (suburban): math 40% / reading 52% proficiency, ranked #13 of 98 in LA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 342 active listings in the ZIP; 794 units permitted in Livingston Parish in 2024 (99 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Livingston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y 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.
• Current owner paid $190k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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.

Recommended offer $190,089 (20.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 10.5

CMA / ARV

• ARV (median comp): $244,519
• List price: $240,000
• Delta: -1.85%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38362 La Hwy 16	0.07mi	4/2.0	2,040 (+2%)	1mo	$275,000	$135	93
10049 Park Ridge Dr	0.04mi	4/2.0	2,007 (-0%)	13mo	$275,000	$137	87
10232 Sims Rd	0.16mi	4/2.0	1,998 (-0%)	17mo	$229,500	$115	77
38490 Highland Terrace Ave	0.11mi	3/2.0 (-1)	1,894 (-6%)	19mo	$242,000	$128	64

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: -18.0%
• Equity multiple: 0.37×
• Total profit: $-42,551
• Equity at exit: $35,785

10-year hold

• IRR: -10.2%
• Equity multiple: 0.38×
• Total profit: $-41,857
• Equity at exit: $20,751

Cash invested: $67,200 (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 70706

• Active inventory: 342
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,901 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$200 /mo · $2,401/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-57

Break-even live

Break-even rent $1,973

Max offer price $229,937

Occupancy floor 98%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $240,000 Active 43 DOM
2. 2026-06-17
   days on market $240,000 Active 42 DOM
3. 2026-06-16
   days on market $240,000 Active 41 DOM
4. 2026-06-15
   days on market $240,000 Active 40 DOM
5. 2026-06-14
   days on market $240,000 Active 38 DOM
6. 2026-06-13
   days on market $240,000 Active 37 DOM
7. 2026-06-10
   days on market $240,000 Active 35 DOM
8. 2026-06-09
   days on market $240,000 Active 34 DOM
9. 2026-06-08
   days on market $240,000 Active 33 DOM
10. 2026-06-07
    days on market $240,000 Active 32 DOM
11. 2026-06-03
    days on market $240,000 Active 28 DOM
12. 2026-06-02
    days on market $240,000 Active 27 DOM
13. 2026-06-01
    days on market $240,000 Active 26 DOM
14. 2026-05-31
    days on market $240,000 Active 25 DOM
15. 2026-05-31
    days on market $240,000 Active 24 DOM
16. 2026-05-11
    status Active 949-char remark

    Show marketing remark (949 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year.Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets.Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

17. 2026-05-09
    status Active 993-char remark

    Show marketing remark (993 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year. Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets. Washer, dryer and refrigerator to remain. Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

18. 2026-05-09
    status Active

    Show marketing remark (993 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year. Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets. Washer, dryer and refrigerator to remain. Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

19. 2026-05-07
    status Pending 949-char remark

    Show marketing remark (949 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year.Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets.Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

20. 2026-04-26
    status Pending 993-char remark

    Show marketing remark (993 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year. Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets. Washer, dryer and refrigerator to remain. Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

21. 2026-04-26
    status Pending

    Show marketing remark (993 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year. Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets. Washer, dryer and refrigerator to remain. Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

22. 2026-04-24
    price $250,000 949-char remark

    Show marketing remark (949 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year.Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets.Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

23. 2026-04-23
    listed $250,000 Active 993-char remark

    Show marketing remark (993 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year. Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets. Washer, dryer and refrigerator to remain. Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

24. 2026-04-23
    listed $250,000 Active

    Show marketing remark (993 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year. Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets. Washer, dryer and refrigerator to remain. Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

25. 2026-04-17
    listed $240,000 Active 949-char remark

    Show marketing remark (949 chars)

    Waterfront property on a fully stocked lake! This 4-bedroom, 2-bath traditional-style home offers 2,008 sq ft and is ready for your personal touch. The kitchen features granite countertops and a stone backsplash. Major updates include a 4-year-old roof, 3-year-old hot water heater, and HVAC system (interior and exterior) replaced in 2024. The garage door and shutters were freshly painted last year.Enjoy a spacious, open living room with wood laminate flooring and a gas, ventless fireplace. Large windows in the living and dining areas provide abundant natural light. The split floor plan offers added privacy, with the laundry conveniently located near the three additional bedrooms. The primary suite includes a large bedroom and bath with separate shower, dual vanities, and dual closets.Situated on a generous lake lot, this property does not require flood insurance and has no HOA. A great opportunity to make this waterfront home your own!

26. 2018-09-26
    soldstatus $189,900
27. 2018-09-21
    soldstatus Sold
28. 2018-08-15
    status Pending
29. 2018-07-21
    price $189,900
30. 2018-06-19
    status Active
31. 2018-06-13
    status Pending
32. 2018-06-07
    listed $195,000 Active
33. 2018-06-07
    listed $189,900

ⓘ 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: $2,401 · $200/mo
• Projected year-2 tax: $2,401 · $200/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,811
• − Mortgage interest: −$13,444
• − Property taxes: −$2,401
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − Depreciation: −$6,982
• Taxable loss: −$4,866
• Est. tax savings @ 24.0%: +$1,168
• After-tax cash flow: $484/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: Livingston Parish
• NCES district ID: 2201020
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 52% ▼ -32.00%
• Median HH income: $56,755
• Composite: 40.07/100
• National rank: #3811
• State rank: #13 of 98 in LA

Livability — Watson

• Score: 71/100
• State rank: #50
• US rank: #7247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 22,621

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 158,511 people
• By 2030: 168,241 · +6.1%
• By 2040: 186,252 · +17.5%
• By 2050: 201,516 · +27.1%
• By 2075: 231,217 · +45.9%
• By 2100: 241,697 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 15% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada, China

Political lean MEDSL · Livingston

• 2024 margin: Solid R (+68.5) · D 15.1% · R 83.6% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -71.9pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+70.0 2016: R+72.5 2012: R+70.4 2008: R+71.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.82%
• Current HPI: 160.2185
• 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

+28.2% since first listed

18 events — show timeline

• 2026-05-11 Relisted — AcadianaMLS
• 2026-05-09 Relisted — AcadianaMLS
• 2026-05-09 Relisted — GBRMLS
• 2026-05-07 Pending — AcadianaMLS
• 2026-04-26 Pending — AcadianaMLS
• 2026-04-26 Pending — GBRMLS
• 2026-04-24 Price Changed $250,000 AcadianaMLS
• 2026-04-23 Listed $250,000 AcadianaMLS
• 2026-04-23 Listed $250,000 GBRMLS
• 2026-04-17 Listed $240,000 AcadianaMLS
• 2018-09-26 Sold (Public Records) $189,900 Public Records
• 2018-09-21 Sold (MLS) — GBRMLS
• 2018-08-15 Pending — GBRMLS
• 2018-07-21 Price Changed $189,900 GBRMLS
• 2018-06-19 Relisted — GBRMLS
• 2018-06-13 Pending — GBRMLS
• 2018-06-07 Listed $189,900 AcadianaMLS
• 2018-06-07 Listed $195,000 GBRMLS

Property tax history

+2.4%/yr

Latest (2024): $2,401 · +7.7% YoY. Source: county tax records.