104 Gary Dr

Church Point, LA 70525

$48,000C+

3 bd · 1.5 ba · 1,178 sqft · Built — · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $999/mo
• Mortgage (P&I): −$252
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $476/mo
• Annual: $5,712/yr
• Cap rate: 18.19%
• Cash-on-cash: 42.50%
• DSCR: 2.89
• 1% rule: 2.08%
• Cash to close: $13,440

Investor read

• This is a 3-bed/1.5-bath single-family listed at $48k.
• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($999 rent vs $48k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#194 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: crime F, amenities F, commute F.
• Acadia Parish (rural): math 32% / reading 44% proficiency, ranked #28 of 98 in LA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Church Point Elementary School (math 32% / reading 42%, grade F, #251 of 646 statewide, top 41%, 604 students, 83% FRL); Church Point Middle School (math 17% / reading 39%, grade F, #125 of 218 statewide, top 58%, 256 students, 80% FRL); Church Point High School (math 12% / reading 27%, grade F, #186 of 265 statewide, top 73%, 555 students, 64% FRL).
• Market conditions: 123 active listings in the ZIP; 137 units permitted in Acadia Parish in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 16y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.2% vs local median 3.6% in Church Point — 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.