32533 Rainy Ln · Killian, LA 70462

$199,000

2 bd · 1.0 ba · 920 sqft · SingleFamily · 9 Days on market

Built 1980 0.25 ac lot ↓ 10% since listing

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.6/10.0

Listing remarks MLS

Located at 32533 Rainy Lane in Springfield, this beautifully updated, turn-key waterfront cottage offers the ultimate river lifestyle with seamless access by boat or automobile. Situated on a deep, navigable canal just moments from popular riverfront bars and restaurants, this inviting property features a bright, open-concept living area highlighted by a stunning modern kitchen with updated cabinetry, a breakfast bar, and rustic exposed wood beams. Large double French doors transition seamlessly to an expansive, covered patio perfect for catching canal breezes, enjoying evening sunsets, and entertaining. Complete with a spacious, manicured lawn and private bulkheaded water frontage, this move-in ready retreat perfectly balances contemporary indoor comfort with classic, laid-back Louisiana waterfront living.

Key facts

• Navigable canal
• Covered patio
• Modern kitchen

Tags

• WATERFRONT COTTAGE
• NAVIGABLE CANAL
• MODERN KITCHEN
• BREAKFAST BAR
• COVERED PATIO
• MANICURED LAWN

Property features AI

Finance

• Other: Listing is marked as human-modified
• Financial info: No financial details provided
• HOA & community: No HOA or community fee information provided

Exterior

• Parking: Driveway
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-story home; Raised foundation; Wood siding exterior; Metal roof; Rectangular lot located outside city limits; Lot dimensions approximately 40 x 139 x 90 x 124 (0.25 acre)
• Construction: Built with wood siding; Metal roof; Raised foundation
• Exterior features: Covered porch; Dock; Canal access waterfront

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Information about specific bedroom count or levels not provided
• Flooring: No flooring information provided
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Six total rooms; Very good condition
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (34.0% below list).
• Recommended offer: $131k (34.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.2% in Killian — 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.

Location & tenants

• Location reads 57/100 on livability (#333 in LA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+; Watch: health & safety C-, schools F, amenities F.
• Livingston Parish (suburban): math 40% / reading 52% proficiency, ranked #13 of 98 in LA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 214 active listings in the ZIP; 794 units permitted in Livingston Parish in 2024 (99 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Livingston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,409 (34.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.66% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.49%
• DSCR: 0.84
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $103,960
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20566 Carpenter Rd	0.25mi	2/1.0	1,000 (+9%)	23mo	$160,000	$160	55
32894 Lower Rome Rd	0.50mi	2/1.0	999 (+9%)	15mo	$57,000	$57	50
32906 Lower Rome Rd	0.50mi	2/2.0	977 (+6%)	17mo	$110,000	$113	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 20.8%
• Equity multiple: 2.68×
• Total profit: $93,782
• Equity at exit: $179,275

10-year hold

• IRR: 18.9%
• Equity multiple: 6.16×
• Total profit: $287,523
• Equity at exit: $386,613

Cash invested: $55,720 (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 70462

• Active inventory: 214
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-228

Break-even live

Break-even rent $1,603

Max offer price $158,639

Occupancy floor —

Sensitivity live

Price	-10% $-116	-5% $-172	+0% $-228	+5% $-285	+10% $-341
Rent	-10% $-332	-5% $-280	+0% $-228	+5% $-177	+10% $-125
Rate	-1.0pp $-128	-0.5pp $-178	base $-228	+0.5pp $-280	+1.0pp $-332

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $199,000 Active 9 DOM
2. 2026-06-17
   days on market $199,000 Active 8 DOM
3. 2026-06-16
   days on market $199,000 Active 7 DOM
4. 2026-06-15
   days on market $199,000 Active 6 DOM
5. 2026-06-14
   days on market $199,000 Active 4 DOM
6. 2026-06-13
   days on market $199,000 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $199,000 Active 1 DOM

ⓘ 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: $884 · $74/mo
• Projected year-2 tax: $1,094 · $91/mo
• Expected delta: +$211/yr (+$18/mo · 23.8%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,769
• − Mortgage interest: −$11,147
• − Property taxes: −$884
• − Insurance: −$1,792
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$5,789
• Taxable loss: −$6,366
• Est. tax savings @ 24.0%: +$1,528
• After-tax cash flow: $-1,214/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: Livingston Parish
• NCES district ID: 2201020
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 52% ▼ -32.00%
• Median HH income: $56,755
• Composite: 40.07/100
• National rank: #3811
• State rank: #13 of 98 in LA

Livability — Killian

• Score: 57/100
• State rank: #333
• US rank: #22333

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Killian, LA
• Population (ZIP): 5,428

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 158,511 people
• By 2030: 168,241 · +6.1%
• By 2040: 186,252 · +17.5%
• By 2050: 201,516 · +27.1%
• By 2075: 231,217 · +45.9%
• By 2100: 241,697 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 15% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Livingston

• 2024 margin: Solid R (+68.5) · D 15.1% · R 83.6% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -71.9pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+70.0 2016: R+72.5 2012: R+70.4 2008: R+71.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 115.93%
• Current HPI: 389.85
• 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

-9.5% since first listed

10 events — show timeline

• 2026-06-09 Listed $199,000 GSREIN
• 2026-06-09 Listed $199,000 AcadianaMLS
• 2025-06-10 Relisted — GBRMLS
• 2025-05-29 Pending — GBRMLS
• 2025-04-11 Listed $215,000 GBRMLS
• 2025-04-11 Listed $215,000 AcadianaMLS
• 2024-08-31 Delisted — GBRMLS
• 2024-02-16 Listed $225,000 AcadianaMLS
• 2024-02-16 Listed $225,000 GBRMLS
• 2020-09-10 Sold (Public Records) $220,000 Public Records

Property tax history

-2.0%/yr

Latest (2024): $884 · +20.2% YoY. Source: county tax records.