355 Woodland Dr

Boutte, LA 70039

$229,000B-

4 bd · 4.0 ba · 2,070 sqft · Built 1985 · MultiFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,620/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$550
• Net cashflow: $646/mo
• Annual: $7,752/yr
• Cap rate: 9.68%
• Cash-on-cash: 12.09%
• DSCR: 1.54
• 1% rule: 1.14%
• Cash to close: $64,120

Investor read

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $229k.
• At list price, monthly cash flow is $646 ($8k/yr) — positive. Per door: $323/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• It's been on market 15 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (1.5% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Location reads 66/100 on livability (#124 in LA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• St. Charles Parish (suburban): math 40% / reading 51% proficiency, ranked #14 of 98 in LA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 74 units permitted in St. Charles Parish in 2024 (0 in 5+ unit buildings).
• St. Charles County population projected to shrink 7% 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 $64k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.