614 S Martin Luther King Junior Dr

St. Martinville, LA 70582

$99,900D-

3 bd · 2.0 ba · 712 sqft · Built 1960 · Other · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $905/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $24/mo
• Annual: $292/yr
• Cap rate: 6.59%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• 1% rule: 0.91%
• Cash to close: $27,972

Investor read

• This is a 3-bed/2.0-bath other listed at $100k. Condition is rated poor.
• At list price, monthly cash flow is $24 ($292/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 $90k (9.4% below list).
• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (9.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Martin Parish (rural): math 23% / reading 32% proficiency, ranked #49 of 98 in LA (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 125 active listings in the ZIP; 54 units permitted in St. Martin Parish in 2024 (0 in 5+ unit buildings).
• St. Martin County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image shows signs of damage.
• Major: exterior siding — The exterior walls and siding show significant wear and tear.
• Major: flooring — The flooring in the interior photos appears to be old and possibly damaged.
• Major: interior walls/paint — The interior walls and paint show signs of wear and tear.
• Major: bathroom fixtures — The bathroom in the interior photos appears to be old and possibly damaged.
• Major: systems — The overall condition suggests outdated or damaged systems need repair.