403 Crystal Dr

Claiborne, LA 71291

$199,900D

3 bd · 2.0 ba · 1,558 sqft · Built 1997 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,569/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$202
• HOA: −$0
• Vac / Maint / Mgmt: −$330
• Net cashflow: $-10/mo
• Annual: $-121/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• 1% rule: 0.79%
• Cash to close: $55,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $-10 ($-121/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (21.5% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $157k (21.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#109 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime D+, health & safety D, amenities F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Claiborne School (math 62% / reading 73%, grade B+, #34 of 646 statewide, top 5%, 751 students, 46% FRL); West Ridge Middle School (math 52% / reading 65%, grade B, #13 of 218 statewide, top 6%, 635 students, 47% FRL); West Monroe High School (math 32% / reading 48%, grade F, #77 of 265 statewide, top 29%, 2,189 students, 58% FRL) — zoned schools at 50% FRL track the district average.
• Zoned-school proficiency averages 55% at this address vs 38% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Ouachita Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.9%/yr); 201 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• Current owner paid $165k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 74% 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 6.2% vs local median 4.0% in Claiborne — 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

• 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?
• 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 D 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.
• 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.