11713 Landry Ln

Erwinville, LA 70767

$179,900C

4 bd · 2.0 ba · 2,150 sqft · Built 2004 · Manufactured · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,713/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$171
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $239/mo
• Annual: $2,863/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• 1% rule: 0.95%
• Cash to close: $50,372

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (4.8% below list).
• It's been on market 110 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#361 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: housing C-, employment D+, schools F.
• West Baton Rouge Parish (suburban): math 27% / reading 40% proficiency, ranked #35 of 98 in LA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 130 active listings in the ZIP; 144 units permitted in West Baton Rouge Parish in 2024 (0 in 5+ unit buildings).
• West Baton Rouge County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $60k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $180k implies a 56% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% 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.

Questions for listing agent

• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
• 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.