184 Main St

Grambling, LA 71245

$160,000C+

4 bd · 2.0 ba · 1,780 sqft · Built 1958 · MultiFamily · Pending · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,700/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $341/mo
• Annual: $4,094/yr
• Cap rate: 8.85%
• Cash-on-cash: 9.14%
• DSCR: 1.41
• 1% rule: 1.06%
• Cash to close: $44,800

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $160k.
• At list price, monthly cash flow is $341 ($4k/yr) — positive. Per door: $171/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 88 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.8% local appreciation)).
• Location reads 64/100 on livability (#159 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Lincoln Parish (town): math 35% / reading 45% proficiency, ranked #24 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.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 171 units permitted in Lincoln Parish in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask is 18724% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→22/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 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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?
• Built in 1958 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?