1607 Furman St · Houma, LA 70363

$109,900

5 bd · 3.0 ba · 960 sqft · Other public records · 67 Days on market

Built 1936 9,147 sqft lot

---

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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• 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

NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop.. It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

Key facts

• Two houses on lot
• Corner lot
• 9,147 sq ft lot

Tags

• TWO HOUSES ON LOT
• LARGE DETACHED GARAGE
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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.
• Market conditions: 206 active listings in the ZIP; 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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1936 — 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: 1.24% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,539
• Equity at exit: $16,386

10-year hold

• IRR: 10.9%
• Equity multiple: 1.86×
• Total profit: $26,331
• Equity at exit: $9,502

Cash invested: $30,772 (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 70363

• Active inventory: 206
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $303

Break-even live

Break-even rent $976

Max offer price $109,900

Occupancy floor 73%

Sensitivity live

Price	-10% $366	-5% $334	+0% $303	+5% $272	+10% $241
Rent	-10% $196	-5% $250	+0% $303	+5% $357	+10% $411
Rate	-1.0pp $359	-0.5pp $331	base $303	+0.5pp $275	+1.0pp $246

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-12
   status Pending 470-char remark

   Show marketing remark (471 chars)

   NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop. . It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

2. 2026-05-12
   status Pending 471-char remark

   Show marketing remark (471 chars)

   NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop. . It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

3. 2026-04-22
   price $109,900 470-char remark

   Show marketing remark (471 chars)

   NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop. . It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

4. 2026-04-22
   price $109,900 471-char remark

   Show marketing remark (471 chars)

   NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop. . It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

5. 2026-03-06
   listed $119,900 Active 470-char remark

   Show marketing remark (471 chars)

   NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop. . It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

6. 2026-03-06
   listed $119,900 Active 471-char remark

   Show marketing remark (471 chars)

   NEW LOW PRICE!!!! CALLING ALL INVESTORS. TWO HOUSES ON 1 LOT! This opportunity does not come around often! 1607 Furman St. is a 3 Bedroom / 2 Bath home with large detached garage or workshop. . It is 1352 sq. ft. 112 Myrtle St. has 2 Bedrooms and 1 full Baths. It has 917 sq. ft. and also features a detached garage. Both houses are currently vacant. Located on corner lot. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

7. 2026-02-13
   soldstatus $865,794
8. 2007-11-29
   soldstatus $125,000
9. 2007-05-14
   listed $149,995
10. 1978-06-16
    soldstatus $6,000

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $992 · $83/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 8/10 Severe FEMA zone X (shaded) · 99% 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: $16,323
• − Mortgage interest: −$6,156
• − Property taxes: −$992
• − Insurance: −$1,347
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$3,197
• Taxable income: $2,019
• Est. tax owed @ 24.0%: −$485
• After-tax cash flow: $3,156/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
• City population: 57,290
• Population (ZIP): 24,668

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 22% Hispanic / Latino 9% Two or more races 8% Native American 8%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 16% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 4%

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: ▼ -99.27%
• Current HPI: 91.3914
• 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

+1731.7% since first listed

10 events — show timeline

• 2026-05-12 Pending — AcadianaMLS
• 2026-05-12 Pending — GSREIN
• 2026-04-22 Price Changed $109,900 AcadianaMLS
• 2026-04-22 Price Changed $109,900 GSREIN
• 2026-03-06 Listed $119,900 GSREIN
• 2026-03-06 Listed $119,900 AcadianaMLS
• 2026-02-13 Sold (Public Records) $865,794 Public Records
• 2007-11-29 Sold (Public Records) $125,000 Public Records
• 2007-05-14 Listed $149,995 AcadianaMLS
• 1978-06-16 Sold (Public Records) $6,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $992 · -2.3% YoY. Source: county tax records.