3278 Highway 472 · Dry Prong, LA 71423

$14,900

3 bd · 1.0 ba · 2,000 sqft · SingleFamily · 45 Days on market

Built 1980 1.31 ac lot ↓ 30% since listing

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

11/18/2024 - the property is under H & B with a current due date of 11/20/2024 11:59:00 PM Mountain Time. The home has no value and a hold harmless must be signed by the agent and all parties prior to entering the property per the seller. The form is attached in MLS.

Key facts

• 1.31 acre lot
• Pool
• Built 1980

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $14k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#212 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment C-, health & safety C-, crime F.
• Grant Parish (rural): math 27% / reading 34% proficiency, ranked #43 of 98 in LA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 5 units permitted in Grant Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($103 loan paydown + $1k appreciation (10.0% local appreciation)).
• Grant County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($14k) is reasonable based on typical stale-listing flexibility.

Recommended offer $14,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 8.45% ✓
• Cap rate: 78.21%
• Cash-on-cash: 256.86%
• DSCR: 12.43
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.58×
• Total profit: $65,010
• Equity at exit: $13,423

10-year hold

• IRR: —
• Equity multiple: 36.18×
• Total profit: $146,754
• Equity at exit: $28,947

Cash invested: $4,172 (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 71423

• Home prices YoY: 13.4%
• Active inventory: 26
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$78
• Tax from tax record: −$18 /mo · $213/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $893

Break-even live

Break-even rent $129

Max offer price $14,900

Occupancy floor 24%

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: $3,725
• Closing costs: $447
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-01-03
   soldstatus $16,000
2. 2024-11-10
   price $14,900
3. 2024-10-08
   listed $22,900 Active
4. 2006-04-13
   soldstatus

ⓘ 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: $213 · $18/mo
• Projected year-2 tax: $213 · $18/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,116
• − Mortgage interest: −$835
• − Property taxes: −$213
• − Insurance: −$74
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − Depreciation: −$433
• Taxable income: $11,142
• Est. tax owed @ 24.0%: −$2,674
• After-tax cash flow: $8,042/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: Grant Parish
• NCES district ID: 2200690
• Math proficiency: 27% ▼ -41.00%
• Reading proficiency: 34% ▼ -40.00%
• Median HH income: $39,458
• Composite: 25.59/100
• National rank: #7420
• State rank: #43 of 98 in LA

Livability — Dry Prong

• Score: 62/100
• State rank: #212
• US rank: #16478

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,058

Population outlook (Grant County) Hauer SSP2

• Today (2025): 22,478 people
• By 2030: 22,656 · +0.8%
• By 2040: 22,488 · +0.0%
• By 2050: 21,631 · -3.8%
• By 2075: 18,569 · -17.4%
• By 2100: 14,621 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Black 2%
• Common ancestry: Lithuanian 3% Serbian 1%
• Foreign-born: 0%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+76.8) · D 11.0% · R 87.9% · Other 1.1%
• 2008→2024 swing: -13.4pp toward R · 2008: -63.5pp · 2024: -76.8pp
• All cycles: 2024: R+76.8 2020: R+74.1 2016: R+70.6 2012: R+65.3 2008: R+63.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.30%
• Current HPI: 231.191
• 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

-30.1% since first listed

4 events — show timeline

• 2025-01-03 Sold (Public Records) $16,000 Public Records
• 2024-11-10 Price Changed $14,900 AcadianaMLS
• 2024-10-08 Listed $22,900 AcadianaMLS
• 2006-04-13 Sold (Public Records) — Public Records

Property tax history

-11.3%/yr

Latest (2025): $213 · -77.3% YoY. Source: county tax records.