215 Palm Ave · Houma, LA 70364

$119,900

2 bd · 1.5 ba · 879 sqft · SingleFamily · 321 Days on market

Built 1955 7,840 sqft lot $136/sqft · 58% 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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• 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

Discover the charm of downtown Houma with this cozy cottage, offers the perfect blend of comfort and convenience! 2-bedroom, 1.5-bath home is ideal for those seeking a quaint living space in a vibrant community. Step inside to find a recently updated kitchen and bathroom, making everyday living a breeze. The convenient layout is designed for both relaxation and functionality, ensuring you have all the space you need. Home features window air conditioning and central heating, providing year-round comfort. Enjoy your morning coffee or unwind in the evenings on the welcoming front entry porch, which adds to the cottage's charm. While it may require minor repairs, this home is priced to sell quickly, making it an incredible opportunity for first-time buyers or investors alike. Located in the heart of downtown Houma, you'll have easy access to Terrebonne General hospital, local shops, restaurants, and entertainment. Don’t miss out on your chance to own a piece of downtown living! Schedule your showing today and envision the possibilities!

Key facts

• Downtown houma
• Front entry porch
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• FRONT ENTRY PORCH
• DOWNTOWN HOUMA
• EASY ACCESS TO HOSPITAL
• EASY ACCESS TO SHOPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/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 $118k (1.2% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.0% in Houma — 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 64/100 on livability (#165 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, 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.
• Zoned schools: Legion Park Elementary School (math 17% / reading 32%, grade F, #384 of 646 statewide, top 62%, 283 students, 81% FRL); Houma Junior High School (math 23% / reading 49%, grade F, #84 of 218 statewide, top 41%, 729 students, 56% FRL); Terrebonne High School (math 38% / reading 41%, grade F, #80 of 265 statewide, top 32%, 1,386 students, 49% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 313 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 321 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 321 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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 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: 0.99% ✗
• Cap rate: 8.34%
• Cash-on-cash: 7.31%
• DSCR: 1.33
• GRM: 8.4

CMA / ARV

• ARV (median comp): $76,123
• List price: $119,900
• Delta: 57.51%
• 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
609 Peach St	0.21mi	2/1.0	840 (-4%)	1mo	$125,000	$149	80
201 Ash St	0.27mi	2/2.0	954 (+8%)	3mo	$135,000	$142	69
810 Suthon Ave	0.59mi	2/1.0	900 (+2%)	10mo	$25,000	$28	58
296 Louise Ln	0.61mi	2/1.0	864 (-2%)	14mo	$119,000	$138	55
1125 Maxine St	0.70mi	2/1.0	845 (-4%)	7mo	$35,000	$41	53
226 Cherry St	0.63mi	2/2.0	957 (+9%)	2mo	$70,000	$73	52
408 Engeron St	0.62mi	2/1.0	926 (+5%)	15mo	$105,000	$113	48
512 Marmande St	0.66mi	2/1.5	960 (+9%)	8mo	$50,000	$52	47
204 Williams Ave	0.46mi	2/1.0	1,002 (+14%)	9mo	$115,000	$115	46
306 Hellier St	0.74mi	3/1.0 (+1)	933 (+6%)	6mo	$29,100	$31	43
825 School St	0.55mi	2/1.0	1,005 (+14%)	9mo	$165,100	$164	40
315 Gouaux Ave	0.60mi	3/1.5 (+1)	1,004 (+14%)	8mo	$162,000	$161	37

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-10,638
• Equity at exit: $17,877

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $2,052
• Equity at exit: $10,367

Cash invested: $33,572 (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: 313
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,184 high
• Mortgage (P&I): −$629
• Tax from tax record: −$52 /mo · $628/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $138

Break-even live

Break-even rent $1,009

Max offer price $119,900

Occupancy floor 83%

Sensitivity live

Price	-10% $206	-5% $172	+0% $138	+5% $104	+10% $70
Rent	-10% $44	-5% $91	+0% $138	+5% $185	+10% $232
Rate	-1.0pp $198	-0.5pp $169	base $138	+0.5pp $107	+1.0pp $75

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
179 Garnet St Unit B Houma, LA	3.0	1.0	1100	$1,200	$1.09	45d	1	0.13mi
885 High St Houma, LA	2.0	1.0	801	$1,100	$1.37	45d	1	0.67mi
624 Gabasse St Unit 1 Houma, LA	1.0	1.0	750	$975	$1.30	45d	1	0.73mi
810 Saadi St Houma, LA	2.0	1.0	754	$1,300	$1.72	45d	3	0.97mi
211 Saint Malo St Houma, LA	3.0	1.0	951	$1,050	$1.10	45d	1	1.11mi
100 Chateau Ct Houma, LA	2.0	2.5	988	$1,262	$1.28	45d	5	1.13mi
1140 Church St Unit B Houma, LA	2.0	1.0	1000	$1,150	$1.15	45d	1	1.16mi
1300 Laban Ave Houma, LA	1.0–3.0	1.0–1.5	896	$1,106	$1.23	45d	41	1.46mi

Listing history 31 events

1. 2026-06-21
   days on market $119,900 Active 321 DOM
2. 2026-06-19
   days on market $119,900 Active 319 DOM
3. 2026-06-18
   days on market $119,900 Active 318 DOM
4. 2026-06-17
   days on market $119,900 Active 317 DOM
5. 2026-06-16
   days on market $119,900 Active 316 DOM
6. 2026-06-15
   days on market $119,900 Active 315 DOM
7. 2026-06-14
   days on market $119,900 Active 313 DOM
8. 2026-06-13
   days on market $119,900 Active 312 DOM
9. 2026-06-10
   days on market $119,900 Active 310 DOM
10. 2026-06-09
    days on market $119,900 Active 309 DOM
11. 2026-06-09
    price $119,900 Active 308 DOM
12. 2026-06-08
    days on market $129,100 Active 308 DOM
13. 2026-06-07
    days on market $129,100 Active 307 DOM
14. 2026-06-05
    days on market $129,100 Active 304 DOM
15. 2026-06-03
    days on market $129,100 Active 303 DOM
16. 2026-06-02
    days on market $129,100 Active 302 DOM
17. 2026-06-01
    days on market $129,100 Active 301 DOM
18. 2026-05-31
    days on market $129,100 Active 300 DOM
19. 2026-05-30
    days on market $129,100 Active 299 DOM
20. 2025-08-04
    listed $129,100 Active 1056-char remark

    Show marketing remark (1049 chars)

    Discover the charm of downtown Houma with this cozy cottage, offers the perfect blend of comfort and convenience! 2-bedroom, 1.5-bath home is ideal for those seeking a quaint living space in a vibrant community. Step inside to find a recently updated kitchen and bathroom, making everyday living a breeze. The convenient layout is designed for both relaxation and functionality, ensuring you have all the space you need. Home features window air conditioning and central heating, providing year-round comfort. Enjoy your morning coffee or unwind in the evenings on the welcoming front entry porch, which adds to the cottage's charm. While it may require minor repairs, this home is priced to sell quickly, making it an incredible opportunity for first-time buyers or investors alike. Located in the heart of downtown Houma, you'll have easy access to Terrebonne General hospital, local shops, restaurants, and entertainment. Don't miss out on your chance to own a piece of downtown living! Schedule your showing today and envision the possibilities!

21. 2025-08-04
    listed $129,100 Active 1049-char remark

    Show marketing remark (1049 chars)

    Discover the charm of downtown Houma with this cozy cottage, offers the perfect blend of comfort and convenience! 2-bedroom, 1.5-bath home is ideal for those seeking a quaint living space in a vibrant community. Step inside to find a recently updated kitchen and bathroom, making everyday living a breeze. The convenient layout is designed for both relaxation and functionality, ensuring you have all the space you need. Home features window air conditioning and central heating, providing year-round comfort. Enjoy your morning coffee or unwind in the evenings on the welcoming front entry porch, which adds to the cottage's charm. While it may require minor repairs, this home is priced to sell quickly, making it an incredible opportunity for first-time buyers or investors alike. Located in the heart of downtown Houma, you'll have easy access to Terrebonne General hospital, local shops, restaurants, and entertainment. Don't miss out on your chance to own a piece of downtown living! Schedule your showing today and envision the possibilities!

22. 2018-12-03
    soldstatus
23. 2018-11-16
    listed $800
24. 2013-03-28
    soldstatus $94,000
25. 2013-02-18
    listed $94,000
26. 2007-02-13
    soldstatus $73,500
27. 2005-11-18
    soldstatus $61,900
28. 2002-06-18
    soldstatus
29. 2002-06-18
    soldstatus $48,000
30. 2002-05-15
    listed $55,000
31. 2002-05-15
    listed $55,000

ⓘ 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: $628 · $52/mo
• Projected year-2 tax: $659 · $55/mo
• Expected delta: +$32/yr (+$3/mo · 5.1%)

ⓘ 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) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $14,210
• − Mortgage interest: −$6,716
• − Property taxes: −$628
• − Insurance: −$1,397
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$3,488
• Taxable loss: −$292
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $1,727/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 — Houma

• Score: 64/100
• State rank: #165
• US rank: #13966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houma, LA
• County: Terrebonne Parish · 57,290 people
• City population: 57,290
• 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

+134.7% since first listed

12 events — show timeline

• 2025-08-04 Listed $129,100 GBRMLS
• 2025-08-04 Listed $129,100 AcadianaMLS
• 2018-12-03 Sold (MLS) — GBRMLS
• 2018-11-16 Listed $800 GBRMLS
• 2013-03-28 Sold (Public Records) $94,000 Public Records
• 2013-02-18 Listed $94,000 AcadianaMLS
• 2007-02-13 Sold (Public Records) $73,500 Public Records
• 2005-11-18 Sold (Public Records) $61,900 Public Records
• 2002-06-18 Sold (Public Records) $48,000 Public Records
• 2002-06-18 Sold (MLS) — GBRMLS
• 2002-05-15 Listed $55,000 GBRMLS
• 2002-05-15 Listed $55,000 AcadianaMLS

Property tax history

+18.4%/yr

Latest (2025): $628 · -2.3% YoY. Source: county tax records.