3278 Highway 472

Dry Prong, LA 71423

$14,900C-

3 bd · 1.0 ba · 2,000 sqft · Built 1980 · SingleFamily · Pending · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,260/mo
• Mortgage (P&I): −$78
• Tax + insurance: −$24
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $893/mo
• Annual: $10,716/yr
• Cap rate: 78.21%
• Cash-on-cash: 256.86%
• DSCR: 12.43
• 1% rule: 8.45%
• Cash to close: $4,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $15k.
• 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).
• It's been on market 45 days — a 3% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $14k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($103 loan paydown + $1k appreciation (10.0% local appreciation)).
• 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).
• 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.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.