Bay Leaf Plan

Tickfaw, LA 70466

$234,900D-

4 bd · 2.0 ba · 1,581 sqft · Built — · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,805/mo
• Mortgage (P&I): −$1,316
• Tax + insurance: −$418
• HOA: −$0
• Vac / Maint / Mgmt: −$379
• Net cashflow: $-309/mo
• Annual: $-3,706/yr
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• 1% rule: 0.72%
• Cash to close: $70,290

Investor read

• This is a 4-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $-309 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (23.2% below list).
• It's been on market 157 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $181k (23.2% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.6% local appreciation)).
• Location reads 63/100 on livability (#203 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Tangipahoa Parish (rural): math 18% / reading 29% proficiency, ranked #63 of 98 in LA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodland Park Magnet (math 12% / reading 8%, grade F, #597 of 646 statewide, top 95%, 519 students, 88% FRL); Lucille Nesom Memorial (math 7% / reading 21%, grade F, #534 of 646 statewide, top 83%, 549 students, 83% FRL); Independence High Magnet (math 12% / reading 17%, grade F, #224 of 265 statewide, top 86%, 570 students, 80% FRL).
• Market conditions: 69 active listings in the ZIP; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are D-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?
• 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?
• 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.