4968 Highway 1

Mathews, LA 70394

$164,000D

3 bd · 1.0 ba · 1,221 sqft · Built 1966 · SingleFamily · Active · 215 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$860
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $95/mo
• Annual: $1,136/yr
• Cap rate: 6.99%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• 1% rule: 0.85%
• Cash to close: $45,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $164k.
• At list price, monthly cash flow is $95 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (14.6% below list).
• It's been on market 215 days — a 12% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (14.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#191 in LA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lafourche Parish (other): math 31% / reading 49% proficiency, ranked #22 of 98 in LA (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lockport Lower Elementary School (460 students, 53% FRL); Lockport Middle School (math 39% / reading 56%, grade C-, #36 of 218 statewide, top 16%, 376 students, 48% FRL); Central Lafourche High School (math 28% / reading 50%, grade F, #86 of 265 statewide, top 33%, 1,360 students, 61% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 319 units permitted in Lafourche Parish in 2024 (0 in 5+ unit buildings).
• 6 sale attempts since 4y 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.
• 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.

Questions for listing agent

• It's been on market 215 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.