242 Whisenant Rd

Joyce, LA 71483

$119,900C-

3 bd · 2.0 ba · 1,280 sqft · Built — · Manufactured · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,037/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $112/mo
• Annual: $1,342/yr
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• 1% rule: 0.86%
• Cash to close: $33,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (13.5% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $104k (13.5% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($829 loan paydown + $4k appreciation (3.2% local appreciation)).
• Location reads 54/100 on livability (#381 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, employment D, schools F.
• Winn Parish (rural): math 20% / reading 30% proficiency, ranked #61 of 98 in LA (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP; 1 units permitted in Winn Parish in 2024 (0 in 5+ unit buildings).
• Winn County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $40k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

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