906 John Paul Jones

Leesville, LA 71446

$91,000B+

3 bd · 2.0 ba · 1,530 sqft · Built 1952 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,333/mo
• Mortgage (P&I): −$477
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $463/mo
• Annual: $5,556/yr
• Cap rate: 12.40%
• Cash-on-cash: 21.80%
• DSCR: 1.97
• 1% rule: 1.46%
• Cash to close: $25,480

Investor read

• This is a 3-bed/2.0-bath single-family listed at $91k. Condition is rated fair.
• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• It's been on market 36 days — a 3% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $629 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#30 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Vernon Parish (rural): math 35% / reading 51% proficiency, ranked #18 of 98 in LA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosepine Elementary School (math 25% / reading 50%, grade F, #247 of 646 statewide, top 39%, 830 students, 55% FRL); Vernon Middle School (math 30% / reading 41%, grade F, #91 of 218 statewide, top 42%, 477 students, 60% FRL); Leesville High School (math 32% / reading 54%, grade F, #66 of 265 statewide, top 25%, 884 students, 47% FRL).
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+9.6%/yr); 290 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 26 units permitted in Vernon Parish in 2024 (0 in 5+ unit buildings).
• Vernon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.4% vs local median 5.9% in Leesville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — The exterior siding is visibly worn and in poor condition.
• Major: Windows — The windows are in poor condition, with visible wear and tear.