214 Springs Rd

Frierson, LA 71027

$59,000B

3 bd · 2.0 ba · 1,376 sqft · Built 1999 · Manufactured · Pending · 297 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,714/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$38
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $1,007/mo
• Annual: $12,084/yr
• Cap rate: 26.77%
• Cash-on-cash: 73.15%
• DSCR: 4.25
• 1% rule: 2.91%
• Cash to close: $16,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $59k.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• It's been on market 297 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($408 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 43/100 on livability (#458 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Desoto Parish (rural): math 35% / reading 48% proficiency, ranked #21 of 98 in LA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Desoto Upper Elementary School (math 32% / reading 49%, grade F, #218 of 646 statewide, top 34%, 808 students, 34% FRL); North Desoto Middle School 6-8 (math 57% / reading 68%, grade B+, #12 of 218 statewide, top 5%, 600 students, 38% FRL); North Desoto High School (math 62% / reading 61%, grade B-, #18 of 265 statewide, top 6%, 836 students, 36% FRL) — zoned schools average 36% FRL vs 59% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 55% at this address vs 42% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Desoto Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 19 active listings in the ZIP; 113 units permitted in De Soto Parish in 2024 (0 in 5+ unit buildings).
• De Soto County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 74% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.