406 Earl Perkins Rd · Pitkin, LA 70656

$99,950

3 bd · 2.0 ba · 2,182 sqft · SingleFamily · 167 Days on market

Built 1980 2.11 ac lot ↓ 12% since listing

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

• Cash flow +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to this charming 3-bedroom, 2-bathroom ranch-style home on 2.11 acres in the quiet Pitkin community. With 2,182 square feet of total finished living space, this single-family residence is built on a durable slab foundation. The property offers a serene rural lifestyle, with well water and a septic sewer system in place. The comfortable interior features a fireplace, dishwasher, and laundry hookups for your convenience. The property also includes a large, covered patio, fenced yard, and storage building. Enjoy the peaceful country setting on a large lot with plenty of room to roam.

Key facts

• Slab foundation
• Septic sewer system
• Fenced yard

Tags

• SLAB FOUNDATION
• WELL WATER
• SEPTIC SEWER SYSTEM
• COVERED PATIO
• FENCED YARD
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#102 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: health & safety C-, crime F, amenities 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.
• Market conditions: 26 active listings in the ZIP; 26 units permitted in Vernon Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($692 loan paydown + $4k appreciation (4.2% local appreciation)).
• Vernon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $87,956 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.34% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.74%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.50×
• Total profit: $42,095
• Equity at exit: $52,026

10-year hold

• IRR: 24.7%
• Equity multiple: 4.91×
• Total profit: $109,343
• Equity at exit: $86,187

Cash invested: $27,986 (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 70656

• Home prices YoY: 4.9%
• Active inventory: 26
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,339 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,499/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $367

Break-even live

Break-even rent $874

Max offer price $99,950

Occupancy floor 68%

Sensitivity live

Price	-10% $436	-5% $402	+0% $367	+5% $332	+10% $298
Rent	-10% $261	-5% $314	+0% $367	+5% $420	+10% $473
Rate	-1.0pp $417	-0.5pp $392	base $367	+0.5pp $341	+1.0pp $315

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: $24,988
• Closing costs: $2,998
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   pricedays on market $99,950 Active 167 DOM
2. 2026-06-18
   days on market $109,950 Active 166 DOM
3. 2026-06-17
   days on market $109,950 Active 165 DOM
4. 2026-06-16
   days on market $109,950 Active 164 DOM
5. 2026-06-15
   days on market $109,950 Active 163 DOM
6. 2026-06-14
   days on market $109,950 Active 161 DOM
7. 2026-06-12
   days on market $109,950 Active 160 DOM
8. 2026-06-09
   days on market $109,950 Active 157 DOM
9. 2026-06-08
   days on market $109,950 Active 156 DOM
10. 2026-06-07
    days on market $109,950 Active 155 DOM
11. 2026-06-07
    days on market $109,950 Active 154 DOM
12. 2026-06-04
    days on market $109,950 Active 151 DOM
13. 2026-06-02
    days on market $109,950 Active 150 DOM
14. 2026-06-01
    days on market $109,950 Active 149 DOM
15. 2026-05-31
    days on market $109,950 Active 148 DOM
16. 2026-05-31
    days on market $109,950 Active 147 DOM
17. 2026-05-18
    price $109,950 600-char remark

    Show marketing remark (600 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom ranch-style home on 2.11 acres in the quiet Pitkin community. With 2,182 square feet of total finished living space, this single-family residence is built on a durable slab foundation. The property offers a serene rural lifestyle, with well water and a septic sewer system in place. The comfortable interior features a fireplace, dishwasher, and laundry hookups for your convenience. The property also includes a large, covered patio, fenced yard, and storage building. Enjoy the peaceful country setting on a large lot with plenty of room to roam.

18. 2026-04-14
    price $119,950 600-char remark

    Show marketing remark (600 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom ranch-style home on 2.11 acres in the quiet Pitkin community. With 2,182 square feet of total finished living space, this single-family residence is built on a durable slab foundation. The property offers a serene rural lifestyle, with well water and a septic sewer system in place. The comfortable interior features a fireplace, dishwasher, and laundry hookups for your convenience. The property also includes a large, covered patio, fenced yard, and storage building. Enjoy the peaceful country setting on a large lot with plenty of room to roam.

19. 2026-03-17
    price $129,950 600-char remark

    Show marketing remark (600 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom ranch-style home on 2.11 acres in the quiet Pitkin community. With 2,182 square feet of total finished living space, this single-family residence is built on a durable slab foundation. The property offers a serene rural lifestyle, with well water and a septic sewer system in place. The comfortable interior features a fireplace, dishwasher, and laundry hookups for your convenience. The property also includes a large, covered patio, fenced yard, and storage building. Enjoy the peaceful country setting on a large lot with plenty of room to roam.

20. 2026-02-19
    price $139,950 600-char remark

    Show marketing remark (600 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom ranch-style home on 2.11 acres in the quiet Pitkin community. With 2,182 square feet of total finished living space, this single-family residence is built on a durable slab foundation. The property offers a serene rural lifestyle, with well water and a septic sewer system in place. The comfortable interior features a fireplace, dishwasher, and laundry hookups for your convenience. The property also includes a large, covered patio, fenced yard, and storage building. Enjoy the peaceful country setting on a large lot with plenty of room to roam.

21. 2026-01-03
    listed $149,950 Active 600-char remark

    Show marketing remark (600 chars)

    Welcome home to this charming 3-bedroom, 2-bathroom ranch-style home on 2.11 acres in the quiet Pitkin community. With 2,182 square feet of total finished living space, this single-family residence is built on a durable slab foundation. The property offers a serene rural lifestyle, with well water and a septic sewer system in place. The comfortable interior features a fireplace, dishwasher, and laundry hookups for your convenience. The property also includes a large, covered patio, fenced yard, and storage building. Enjoy the peaceful country setting on a large lot with plenty of room to roam.

22. 2014-02-06
    soldstatus 329-char remark

    Show marketing remark (329 chars)

    IF YOU ARE LOOKING FOR PEACE AND QUIET THIS IS THE PLACE FOR YOU! THERE IS A PROBLEM WITH THE SLAB, THE SELLERS HAS AN ESTIMATE ON GETTING IT REPAIRED. THE COST OF THE REPAIR IS INCLUDED THE IN THE SALES PRICE. THE WORK WILL BE DONE AFTER CLOSING AND THE COST WILL COME FROM SELLERS PROCEEDS OR YOU CAN BUY IT AS IS FOR $105,000.

23. 2013-03-18
    listed $125,000 329-char remark

    Show marketing remark (329 chars)

    IF YOU ARE LOOKING FOR PEACE AND QUIET THIS IS THE PLACE FOR YOU! THERE IS A PROBLEM WITH THE SLAB, THE SELLERS HAS AN ESTIMATE ON GETTING IT REPAIRED. THE COST OF THE REPAIR IS INCLUDED THE IN THE SALES PRICE. THE WORK WILL BE DONE AFTER CLOSING AND THE COST WILL COME FROM SELLERS PROCEEDS OR YOU CAN BUY IT AS IS FOR $105,000.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,067
• − Mortgage interest: −$5,599
• − Property taxes: −$1,499
• − Insurance: −$500
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$2,908
• Taxable income: $2,991
• Est. tax owed @ 24.0%: −$718
• After-tax cash flow: $3,686/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: Vernon Parish
• NCES district ID: 2201830
• Math proficiency: 35% ▼ -42.00%
• Reading proficiency: 51% ▼ -32.00%
• Median HH income: $44,822
• Composite: 36.42/100
• National rank: #4674
• State rank: #18 of 98 in LA

Livability — Pitkin

• Score: 68/100
• State rank: #102
• US rank: #10090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,488

Population outlook (Vernon County) Hauer SSP2

• Today (2025): 45,401 people
• By 2030: 43,015 · -5.3%
• By 2040: 38,171 · -15.9%
• By 2050: 34,087 · -24.9%
• By 2075: 28,267 · -37.7%
• By 2100: 25,486 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Native American 1% Hispanic / Latino 1%
• Common ancestry: Italian 3% Serbian 1% Lithuanian 1%
• Foreign-born: 0%

Political lean MEDSL · Vernon

• 2024 margin: Solid R (+67.9) · D 15.6% · R 83.4% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -53.4pp · 2024: -67.9pp
• All cycles: 2024: R+67.9 2020: R+64.9 2016: R+65.0 2012: R+57.5 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.23%
• Current HPI: 91.0868
• 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

-12.0% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $109,950 GFPAR
• 2026-04-14 Price Changed $119,950 GFPAR
• 2026-03-17 Price Changed $129,950 GFPAR
• 2026-02-19 Price Changed $139,950 GFPAR
• 2026-01-03 Listed $149,950 GFPAR
• 2014-02-06 Sold (MLS) — GFPAR
• 2013-03-18 Listed $125,000 GFPAR

Property tax history

-20.2%/yr

Latest (2025): $52 · +0.0% YoY. Source: county tax records.