1002 Mimosa Ln · St. Martinville, LA 70582

$120,000

3 bd · 2.0 ba · 1,916 sqft · SingleFamily public records · 42 Days on market

Built 1962 4,791 sqft lot $63/sqft · 6% below area Est $132k · 9% under

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Why this score? — see what drove the C 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 +22.6/30.0
• ARV discount +11.6/15.0
• DSCR +7.2/10.0
• 1% rule +5.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1002 Mimosa Lane, where charm and comfort meet in this wonderful 3 bedroom, 2 bathroom home with 1982 square feet of living space. Situated on a large corner lot on a quiet street, this traditional floor plan home boasts hardwood flooring, double paned windows, and plenty of natural light in the kitchen. This home is full of character such as double fireplaces, 2 spacious living rooms, and large windows overlooking both the front and backyard. Need extra space? The additional bungalow will provide just that!! (formerly used as a guest cottage). Don't miss the opportunity to make this gem yours.

Key facts

• Hardwood flooring
• Large windows
• Double paned windows

Tags

• CORNER LOT
• HARDWOOD FLOORING
• DOUBLE PANED WINDOWS
• DOUBLE FIREPLACES
• SPACIOUS LIVING ROOMS
• LARGE WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 6.9% in St. Martinville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade C — 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Martin County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.28%
• DSCR: 1.32
• GRM: 8.0

CMA / ARV

• ARV (median comp): $131,949
• List price: $120,000
• Delta: -9.06%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 Mimosa Ln	0.03mi	3/2.0	1,900 (-1%)	20mo	$120,000	$63	80
237 Oak Dr	0.47mi	3/2.0	2,200 (+15%)	10mo	$220,000	$100	45

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-6,469
• Equity at exit: $17,892

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $11,050
• Equity at exit: $10,375

Cash invested: $33,600 (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 70582

• Home prices YoY: -23.8%
• Active inventory: 125
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$104 /mo · $1,247/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $204

Break-even live

Break-even rent $991

Max offer price $120,000

Occupancy floor 79%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-04
   status Pending 616-char remark

   Show marketing remark (616 chars)

   Welcome to 1002 Mimosa Lane, where charm and comfort meet in this wonderful 3 bedroom, 2 bathroom home with 1982 square feet of living space. Situated on a large corner lot on a quiet street, this traditional floor plan home boasts hardwood flooring, double paned windows, and plenty of natural light in the kitchen. This home is full of character such as double fireplaces, 2 spacious living rooms, and large windows overlooking both the front and backyard. Need extra space? The additional bungalow will provide just that!! (formerly used as a guest cottage). Don't miss the opportunity to make this gem yours.

2. 2026-03-23
   listed $120,000 Active 616-char remark

   Show marketing remark (616 chars)

   Welcome to 1002 Mimosa Lane, where charm and comfort meet in this wonderful 3 bedroom, 2 bathroom home with 1982 square feet of living space. Situated on a large corner lot on a quiet street, this traditional floor plan home boasts hardwood flooring, double paned windows, and plenty of natural light in the kitchen. This home is full of character such as double fireplaces, 2 spacious living rooms, and large windows overlooking both the front and backyard. Need extra space? The additional bungalow will provide just that!! (formerly used as a guest cottage). Don't miss the opportunity to make this gem yours.

3. 2016-07-06
   soldstatus $127,000
4. 2013-04-11
   soldstatus $44,000

ⓘ 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: $1,247 · $104/mo
• Projected year-2 tax: $1,247 · $104/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,994
• − Mortgage interest: −$6,722
• − Property taxes: −$1,247
• − Insurance: −$600
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,491
• Taxable income: $535
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $2,318/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: St. Martin Parish
• NCES district ID: 2201590
• Math proficiency: 23% ▼ -44.00%
• Reading proficiency: 32% ▼ -36.00%
• Median HH income: $42,813
• Composite: 23.41/100
• National rank: #7897
• State rank: #49 of 98 in LA

Livability — St. Martinville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 19,159

Population outlook (St. Martin County) Hauer SSP2

• Today (2025): 57,446 people
• By 2030: 58,857 · +2.5%
• By 2040: 60,859 · +5.9%
• By 2050: 61,419 · +6.9%
• By 2075: 61,574 · +7.2%
• By 2100: 57,253 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 30% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Lithuanian 15%
• Foreign-born: 1%
• Languages at home: 92% English-only · French/Haitian/Cajun 7% Spanish 1%

Political lean MEDSL · St. Martin

• 2024 margin: Solid R (+40.7) · D 29.1% · R 69.8% · Other 1.0%
• 2008→2024 swing: -20.0pp toward R · 2008: -20.7pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+36.1 2016: R+33.4 2012: R+24.5 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.36%
• Current HPI: 155.151
• 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

+172.7% since first listed

4 events — show timeline

• 2026-05-04 Pending — AcadianaMLS
• 2026-03-23 Listed $120,000 AcadianaMLS
• 2016-07-06 Sold (Public Records) $127,000 Public Records
• 2013-04-11 Sold (Public Records) $44,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,247 · +0.0% YoY. Source: county tax records.