21 B Coleman Rd

Elmer, LA 71424

$75,000B

3 bd · 2.0 ba · 1,510 sqft · Built 2009 · SingleFamily · Pending · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,175/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $336/mo
• Annual: $4,030/yr
• Cap rate: 11.67%
• Cash-on-cash: 19.19%
• DSCR: 1.85
• 1% rule: 1.57%
• Cash to close: $21,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 87 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($519 loan paydown + $1k appreciation (1.9% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Rapides Parish (urban): math 29% / reading 44% proficiency, ranked #31 of 98 in LA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 7 active listings in the ZIP; 239 units permitted in Rapides Parish in 2024 (0 in 5+ unit buildings).
• Rapides County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/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 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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.