1509 Ashland Rdg

Cade, LA 70560

$270,000B-

5 bd · 3.0 ba · 2,087 sqft · Built — · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,000/mo
• Mortgage (P&I): −$1,478
• Tax + insurance: −$470
• HOA: −$33
• Vac / Maint / Mgmt: −$840
• Net cashflow: $1,180/mo
• Annual: $14,159/yr
• Cap rate: 11.32%
• Cash-on-cash: 17.95%
• DSCR: 1.80
• 1% rule: 1.42%
• Cash to close: $78,889

Investor read

• This is a 5-bed/3.0-bath single-family listed at $270k. Condition is rated good.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• It's been on market 23 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $266k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#389 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, employment B; Watch: amenities F, commute F, housing 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: Coteau Elementary School (math 47% / reading 52%, grade D, #129 of 646 statewide, top 21%, 272 students, 71% 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).
• Market conditions: 237 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $79k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.3% vs local median 5.3% in Cade — 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

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.