315 Saint Patrick St · Bayou Cane, LA 70364

$98,000

3 bd · 1.5 ba · 1,144 sqft · SingleFamily public records · 66 Days on market

Built 1972 5,662 sqft lot $86/sqft · 42% below area Est $159k · 38% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated in Oakshire subdivision, 315 Saint Patrick Street offers a 3-bedroom, 1.5-bath home with investment potential in a centrally located area of Houma. This property is well-positioned for a flip or long-term rental. The home features a functional layout with a modest living room and kitchen, metal roof, and both gas and electric components. The primary bedroom includes a private half bath, while a full bathroom with tub/shower combo is located in the hallway serving the additional bedrooms. Flooring consists of porcelain tile throughout the main living areas and tiger-coated concrete flooring in all bedrooms. French doors lead to an enclosed carport area currently used for storage with electricity in place. An enclosed patio has been converted into a workshop with a window unit. Mechanical updates include a 4-ton Guardian AC unit approximately 5 years old and a gas water heater approximately 3 years old. The property also includes a 20x20 galvanized aluminum shed secured to a concrete slab that will remain. Schedule your showing and submit your offer!!

Key facts

• Metal roof
• Private half bath
• Investment potential

Tags

• INVESTMENT POTENTIAL
• FUNCTIONAL LAYOUT
• METAL ROOF
• PRIVATE HALF BATH
• PORCELAIN TILE FLOORING
• TIGER-COATED CONCRETE FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $38 ($459/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.3% in Bayou Cane — 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.

Location & tenants

• Location reads 65/100 on livability (#140 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools F, crime D-, amenities F.
• Terrebonne Parish (other): math 32% / reading 46% proficiency, ranked #23 of 98 in LA (top 24%) — 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.
• Market conditions: 311 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 300 units permitted in Terrebonne Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $27k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.42% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.33%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $158,824
• List price: $98,000
• Delta: -38.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Saint Patrick St	0.06mi	3/1.5	1,242 (+9%)	5mo	$64,900	$52	79
311 Saint Patrick St	0.02mi	3/1.5	1,050 (-8%)	8mo	$174,000	$166	79
308 Lincoln St	0.24mi	3/1.0	1,086 (-5%)	2mo	$177,000	$163	77
309 Saint Patrick St	0.03mi	3/1.5	1,049 (-8%)	10mo	$112,500	$107	76
227 Saint Patrick St	0.14mi	3/1.5	1,080 (-6%)	12mo	$164,900	$153	74
417 Tanglewood Dr	0.30mi	3/2.0	1,223 (+7%)	2mo	$165,000	$135	70
314 Oakshire Dr	0.13mi	3/2.0	1,256 (+10%)	8mo	$143,000	$114	69
200 Saint Patrick St	0.27mi	3/1.0	1,073 (-6%)	8mo	$158,500	$148	69
204 Oakshire Dr	0.29mi	3/1.0	1,200 (+5%)	11mo	$89,900	$75	67
230 Tudor St	0.20mi	3/1.0	1,020 (-11%)	11mo	$185,000	$181	62
235 Idlewild Dr	0.23mi	3/1.5	1,309 (+14%)	11mo	$80,000	$61	56
3608 Euclid St	0.34mi	3/2.0	975 (-15%)	9mo	$159,000	$163	50

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-13,186
• Equity at exit: $14,612

10-year hold

• IRR: -4.0%
• Equity multiple: 0.73×
• Total profit: $-7,296
• Equity at exit: $8,473

Cash invested: $27,440 (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 70364

• Active inventory: 311
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,394 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$82 /mo · $985/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $38

Break-even live

Break-even rent $1,346

Max offer price $98,000

Occupancy floor 92%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 Idlewild Dr Unit A Houma, LA	2.0	2.0	972	$1,250	$1.29	43d	1	0.47mi
214 Greenbriar Dr Houma, LA	2.0	3.0	1300	$1,475	$1.13	43d	1	0.70mi
375 Westside Blvd Houma, LA	1.0–2.0	1.0	740	$1,110	$1.50	43d	7	1.46mi

Listing history 20 events

1. 2026-06-16
   days on market $98,000 Active 66 DOM
2. 2026-06-15
   days on market $98,000 Active 65 DOM
3. 2026-06-14
   days on market $98,000 Active 63 DOM
4. 2026-06-13
   days on market $98,000 Active 62 DOM
5. 2026-06-10
   days on market $98,000 Active 60 DOM
6. 2026-06-09
   days on market $98,000 Active 59 DOM
7. 2026-06-08
   days on market $98,000 Active 58 DOM
8. 2026-06-07
   days on market $98,000 Active 57 DOM
9. 2026-06-05
   days on market $98,000 Active 54 DOM
10. 2026-06-03
    days on market $98,000 Active 53 DOM
11. 2026-06-02
    days on market $98,000 Active 52 DOM
12. 2026-06-01
    days on market $98,000 Active 51 DOM
13. 2026-05-31
    days on market $98,000 Active 50 DOM
14. 2026-05-30
    days on market $98,000 Active 49 DOM
15. 2026-04-11
    listed $125,000 Active 1074-char remark

    Show marketing remark (1074 chars)

    Situated in Oakshire subdivision, 315 Saint Patrick Street offers a 3-bedroom, 1.5-bath home with investment potential in a centrally located area of Houma. This property is well-positioned for a flip or long-term rental. The home features a functional layout with a modest living room and kitchen, metal roof, and both gas and electric components. The primary bedroom includes a private half bath, while a full bathroom with tub/shower combo is located in the hallway serving the additional bedrooms. Flooring consists of porcelain tile throughout the main living areas and tiger-coated concrete flooring in all bedrooms. French doors lead to an enclosed carport area currently used for storage with electricity in place. An enclosed patio has been converted into a workshop with a window unit. Mechanical updates include a 4-ton Guardian AC unit approximately 5 years old and a gas water heater approximately 3 years old. The property also includes a 20x20 galvanized aluminum shed secured to a concrete slab that will remain. Schedule your showing and submit your offer!!

16. 2026-04-11
    listed $125,000 Active 1074-char remark

    Show marketing remark (1074 chars)

    Situated in Oakshire subdivision, 315 Saint Patrick Street offers a 3-bedroom, 1.5-bath home with investment potential in a centrally located area of Houma. This property is well-positioned for a flip or long-term rental. The home features a functional layout with a modest living room and kitchen, metal roof, and both gas and electric components. The primary bedroom includes a private half bath, while a full bathroom with tub/shower combo is located in the hallway serving the additional bedrooms. Flooring consists of porcelain tile throughout the main living areas and tiger-coated concrete flooring in all bedrooms. French doors lead to an enclosed carport area currently used for storage with electricity in place. An enclosed patio has been converted into a workshop with a window unit. Mechanical updates include a 4-ton Guardian AC unit approximately 5 years old and a gas water heater approximately 3 years old. The property also includes a 20x20 galvanized aluminum shed secured to a concrete slab that will remain. Schedule your showing and submit your offer!!

17. 2005-10-21
    soldstatus $93,500
18. 2005-07-21
    listed $93,500
19. 2005-07-21
    listed $93,500
20. 1997-06-12
    soldstatus

ⓘ 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: $985 · $82/mo
• Projected year-2 tax: $985 · $82/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 7/10 Severe FEMA zone AE · 91% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 22 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: $16,734
• − Mortgage interest: −$5,490
• − Property taxes: −$985
• − Insurance: −$5,608
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$2,851
• Taxable loss: −$878
• Est. tax savings @ 24.0%: +$211
• After-tax cash flow: $670/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: Terrebonne Parish
• NCES district ID: 2201740
• Math proficiency: 32% ▼ -36.00%
• Reading proficiency: 46% ▼ -30.00%
• Median HH income: $47,612
• Composite: 33.38/100
• National rank: #5480
• State rank: #23 of 98 in LA

Livability — Bayou Cane

• Score: 65/100
• State rank: #140
• US rank: #12522

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bayou Cane, LA
• County: Terrebonne Parish · 57,290 people
• Metro: Houma-Thibodaux, LA
• Population (ZIP): 28,716
• Household income: $68,843
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 387.0

Population outlook (Terrebonne County) Hauer SSP2

• Today (2025): 118,724 people
• By 2030: 120,321 · +1.3%
• By 2040: 121,894 · +2.7%
• By 2050: 121,119 · +2.0%
• By 2075: 117,270 · -1.2%
• By 2100: 107,544 · -9.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 16% Hispanic / Latino 9% Two or more races 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Lithuanian 17% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Terrebonne

• 2024 margin: Solid R (+51.8) · D 23.5% · R 75.3% · Other 1.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -40.9pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+50.0 2016: R+48.4 2012: R+41.2 2008: R+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.75%
• Current HPI: 113.1047
• Rent YoY: —
• Metro: Houma-Thibodaux, LA
• 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

+33.7% since first listed

6 events — show timeline

• 2026-04-11 Listed $125,000 GBRMLS
• 2026-04-11 Listed $125,000 AcadianaMLS
• 2005-10-21 Sold (Public Records) $93,500 Public Records
• 2005-07-21 Listed $93,500 AcadianaMLS
• 2005-07-21 Listed $93,500 AcadianaMLS
• 1997-06-12 Sold (Public Records) — Public Records

Property tax history

+22.5%/yr

Latest (2025): $985 · -5.1% YoY. Source: county tax records.