218 North St

Mangham, LA 71259

$129,000F

3 bd · 2.0 ba · 1,656 sqft · Built — · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,126/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $-2/mo
• Annual: $-19/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• 1% rule: 0.87%
• Cash to close: $36,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $129k. Condition is rated fair.
• At list price, monthly cash flow is $-2 ($-19/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (12.7% below list).
• It's been on market 28 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (12.7% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($892 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 58/100 on livability (#296 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Richland Parish (rural): math 12% / reading 22% proficiency, ranked #73 of 98 in LA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mangham Elementary School (math 27% / reading 47%, grade F, #251 of 646 statewide, top 41%, 441 students, 57% FRL); Mangham Junior High School (math 19% / reading 35%, grade F, #132 of 218 statewide, top 61%, 211 students, 52% FRL); Mangham High School (math 17% / reading 37%, grade F, #136 of 265 statewide, top 55%, 313 students, 47% FRL) — zoned schools average 52% FRL vs 76% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 30% at this address vs 17% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Richland Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 24 active listings in the ZIP; 27 units permitted in Richland Parish in 2024 (0 in 5+ unit buildings).
• Richland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom fixtures — standard, could be updated
• Moderate: exterior siding — some discoloration