1418 Third St St N · Morgan City, LA 70380

$135,000

3 bd · 2.0 ba · 1,286 sqft · SingleFamily · 95 Days on market

Built 1950 4,225 sqft lot $105/sqft · 66% above area

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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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this cute 3-bedroom, 2-bath home offering 1,286 sq ft of comfortable living space, perfectly situated in Morgan City. This property features a functional layout with an interior laundry room and a garage for added convenience. Recent updates provide peace of mind, including a roof just 2 years old, a 1-year-old water heater, and a 6-year-old HVAC system. A newly poured driveway adds to the home's curb appeal and everyday functionality. Inside, you'll find a home that has been kept in good condition, making it move-in ready while still offering the opportunity to add your own personal touch. The layout offers flexibility for families, first-time buyers, or those looking to downsize without sacrificing space. Don't miss your chance to own a solid, well-cared-for home in a convenient location. Schedule your private showing today! All measurements and flood zones to be verified by the buyer.

Key facts

• Recent updates
• Functional layout
• Move in ready

Tags

• INTERIOR LAUNDRY ROOM
• NEWLY POURED DRIVEWAY
• RECENT UPDATES
• FUNCTIONAL LAYOUT
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.6% in Morgan City — 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 67/100 on livability (#111 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• St. Mary Parish (town): math 28% / reading 39% proficiency, ranked #37 of 98 in LA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Julia B. Maitland School (math 17% / reading 22%, grade F, #448 of 646 statewide, top 71%, 220 students, 82% FRL); Morgan City Junior High School (math 22% / reading 34%, grade F, #125 of 218 statewide, top 58%, 488 students, 56% FRL); Morgan City High School (math 27% / reading 42%, grade F, #106 of 265 statewide, top 43%, 732 students, 55% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 37 units permitted in St. Mary Parish in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Mary County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $135k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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?
7. 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?
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: 1.02% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.88%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (median comp): $81,529
• List price: $135,000
• Delta: 65.59%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1618 Federal Ave	0.14mi	3/1.5	1,300 (+1%)	5mo	$78,000	$60	85
512 Marshall St	0.15mi	3/1.0	1,181 (-8%)	3mo	$41,500	$35	73
601 Marshall St	0.17mi	2/1.0 (-1)	1,241 (-4%)	9mo	$135,000	$109	70
1708 Federal Ave	0.21mi	2/1.0 (-1)	1,225 (-5%)	9mo	$85,000	$69	65
910 Belanger St	0.49mi	3/1.5	1,341 (+4%)	5mo	$160,000	$119	63
1703 Federal Ave	0.18mi	3/1.0	1,143 (-11%)	8mo	$45,000	$39	62
203 Aucoin St	0.24mi	3/2.0	1,424 (+11%)	12mo	$34,500	$24	61
905 Poplar St	0.53mi	3/2.0	1,229 (-4%)	17mo	$199,900	$163	54
1025 Second St	0.44mi	3/1.0	1,400 (+9%)	10mo	$129,900	$93	53
1914 Maple St	0.66mi	3/1.0	1,208 (-6%)	14mo	$129,000	$107	43
1116 Front St	0.37mi	2/1.0 (-1)	1,122 (-13%)	16mo	$125,000	$111	40
812 Clothilde St	0.60mi	2/1.0 (-1)	1,094 (-15%)	12mo	$88,000	$80	28

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-10,305
• Equity at exit: $20,129

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $5,936
• Equity at exit: $11,672

Cash invested: $37,800 (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 70380

• Home prices YoY: -34.8%
• Active inventory: 83
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$74 /mo · $888/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $182

Break-even live

Break-even rent $1,145

Max offer price $135,000

Occupancy floor 82%

Sensitivity live

Price	-10% $258	-5% $220	+0% $182	+5% $143	+10% $105
Rent	-10% $73	-5% $127	+0% $182	+5% $236	+10% $290
Rate	-1.0pp $250	-0.5pp $216	base $182	+0.5pp $147	+1.0pp $111

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1009 Poplar St Morgan City, LA	3.0	2.0	1600	$1,375	$0.86	45d	1	0.68mi

Listing history 24 events

1. 2026-06-22
   days on market $135,000 Active 95 DOM
2. 2026-06-21
   days on market $135,000 Active 94 DOM
3. 2026-06-21
   days on market $135,000 Active 93 DOM
4. 2026-06-18
   days on market $135,000 Active 91 DOM
5. 2026-06-17
   days on market $135,000 Active 90 DOM
6. 2026-06-16
   days on market $135,000 Active 89 DOM
7. 2026-06-16
   price $135,000 Active 88 DOM
8. 2026-06-15
   days on market $145,000 Active 88 DOM
9. 2026-06-13
   days on market $145,000 Active 86 DOM
10. 2026-06-12
    days on market $145,000 Active 85 DOM
11. 2026-06-09
    days on market $145,000 Active 82 DOM
12. 2026-06-08
    days on market $145,000 Active 81 DOM
13. 2026-06-07
    days on market $145,000 Active 80 DOM
14. 2026-06-07
    days on market $145,000 Active 79 DOM
15. 2026-06-04
    days on market $145,000 Active 76 DOM
16. 2026-06-02
    days on market $145,000 Active 75 DOM
17. 2026-06-01
    days on market $145,000 Active 74 DOM
18. 2026-05-31
    days on market $145,000 Active 73 DOM
19. 2026-05-31
    days on market $145,000 Active 72 DOM
20. 2026-04-15
    price $145,000 911-char remark

    Show marketing remark (929 chars)

    Welcome to this cute 3-bedroom, 2-bath home offering 1,286 sq ft of comfortable living space, perfectly situated in Morgan City. This property features a functional layout with an interior laundry room and a garage for added convenience. Recent updates provide peace of mind, including a roof just 2 years old, a 1-year-old water heater, and a 6-year-old HVAC system. A newly poured driveway adds to the home’s curb appeal and everyday functionality. Inside, you’ll find a home that has been kept in good condition, making it move-in ready while still offering the opportunity to add your own personal touch. The layout offers flexibility for families, first-time buyers, or those looking to downsize without sacrificing space. Don’t miss your chance to own a solid, well-cared-for home in a convenient location. Schedule your private showing today! All measurements and flood zones to be verified by the buyer.

21. 2026-04-15
    price $145,000 929-char remark

    Show marketing remark (929 chars)

    Welcome to this cute 3-bedroom, 2-bath home offering 1,286 sq ft of comfortable living space, perfectly situated in Morgan City. This property features a functional layout with an interior laundry room and a garage for added convenience. Recent updates provide peace of mind, including a roof just 2 years old, a 1-year-old water heater, and a 6-year-old HVAC system. A newly poured driveway adds to the home’s curb appeal and everyday functionality. Inside, you’ll find a home that has been kept in good condition, making it move-in ready while still offering the opportunity to add your own personal touch. The layout offers flexibility for families, first-time buyers, or those looking to downsize without sacrificing space. Don’t miss your chance to own a solid, well-cared-for home in a convenient location. Schedule your private showing today! All measurements and flood zones to be verified by the buyer.

22. 2026-03-19
    listed $155,000 Active 911-char remark

    Show marketing remark (929 chars)

    Welcome to this cute 3-bedroom, 2-bath home offering 1,286 sq ft of comfortable living space, perfectly situated in Morgan City. This property features a functional layout with an interior laundry room and a garage for added convenience. Recent updates provide peace of mind, including a roof just 2 years old, a 1-year-old water heater, and a 6-year-old HVAC system. A newly poured driveway adds to the home’s curb appeal and everyday functionality. Inside, you’ll find a home that has been kept in good condition, making it move-in ready while still offering the opportunity to add your own personal touch. The layout offers flexibility for families, first-time buyers, or those looking to downsize without sacrificing space. Don’t miss your chance to own a solid, well-cared-for home in a convenient location. Schedule your private showing today! All measurements and flood zones to be verified by the buyer.

23. 2026-03-19
    listed $155,000 Active 929-char remark

    Show marketing remark (929 chars)

    Welcome to this cute 3-bedroom, 2-bath home offering 1,286 sq ft of comfortable living space, perfectly situated in Morgan City. This property features a functional layout with an interior laundry room and a garage for added convenience. Recent updates provide peace of mind, including a roof just 2 years old, a 1-year-old water heater, and a 6-year-old HVAC system. A newly poured driveway adds to the home’s curb appeal and everyday functionality. Inside, you’ll find a home that has been kept in good condition, making it move-in ready while still offering the opportunity to add your own personal touch. The layout offers flexibility for families, first-time buyers, or those looking to downsize without sacrificing space. Don’t miss your chance to own a solid, well-cared-for home in a convenient location. Schedule your private showing today! All measurements and flood zones to be verified by the buyer.

24. 2002-03-28
    soldstatus $52,000

ⓘ 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: $888 · $74/mo
• Projected year-2 tax: $888 · $74/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 X (shaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 23 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: $16,500
• − Mortgage interest: −$7,562
• − Property taxes: −$888
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,927
• Taxable income: $11
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $2,177/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. Mary Parish
• NCES district ID: 2201620
• Math proficiency: 28% ▼ -40.00%
• Reading proficiency: 39% ▼ -33.00%
• Median HH income: $39,843
• Composite: 28.1/100
• National rank: #6828
• State rank: #37 of 98 in LA

Livability — Morgan City

• Score: 67/100
• State rank: #111
• US rank: #11015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgan City, LA
• Population (ZIP): 21,043

Population outlook (St. Mary County) Hauer SSP2

• Today (2025): 49,510 people
• By 2030: 47,570 · -3.9%
• By 2040: 43,880 · -11.4%
• By 2050: 40,655 · -17.9%
• By 2075: 37,190 · -24.9%
• By 2100: 38,101 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 15% Black 12% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 14%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 11% French/Haitian/Cajun 2% Vietnamese 2%

Political lean MEDSL · St. Mary

• 2024 margin: Solid R (+31.9) · D 33.5% · R 65.4% · Other 1.0%
• 2008→2024 swing: -15.1pp toward R · 2008: -16.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+29.1 2016: R+27.6 2012: R+18.8 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.21%
• Current HPI: 99.8137
• 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

+178.8% since first listed

5 events — show timeline

• 2026-04-15 Price Changed $145,000 AcadianaMLS
• 2026-04-15 Price Changed $145,000 GBRMLS
• 2026-03-19 Listed $155,000 GBRMLS
• 2026-03-19 Listed $155,000 AcadianaMLS
• 2002-03-28 Sold (Public Records) $52,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $888 · +0.3% YoY. Source: county tax records.