3508 St Luke Ln · Sulphur, LA 70663

$59,900

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 147 Days on market

Manufactured home Built 1992 Fair condition $53/sqft · 46% below area Est $110k · 46% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -6.6

Listing remarks MLS

Situated on almost 1.5 acres this property has room for gardens, etc. The 25' x 30' shop is a huge plus! The mobile home needs some work and has the potential to be really nice. This is priced to sell!

Key facts

• 25 x 30 shop
• 1.5 acres
• Built 1992

Tags

• 1.5 ACRES
• 25 X 30 SHOP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 8.5% in Sulphur — 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.

Location & tenants

• Location reads 71/100 on livability (#48 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime D-, amenities F, commute F.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frasch Elementary School (math 44% / reading 63%, grade C, #100 of 646 statewide, top 16%, 539 students, 48% FRL); Leblanc Middle School (math 23% / reading 45%, grade F, #95 of 218 statewide, top 45%, 399 students, 62% FRL); Sulphur High School (math 36% / reading 53%, grade F, #58 of 265 statewide, top 23%, 2,043 students, 47% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising fast (+7.7%/yr); 338 active listings in the ZIP; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.74%
• Cash-on-cash: 30.16%
• DSCR: 2.34
• GRM: 4.9

CMA / ARV

• ARV (median comp): $110,354
• List price: $59,900
• Delta: -45.72%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3485 St Theresa Ln	0.33mi	3/2.0	1,133 (+1%)	9mo	$165,000	$146	76
2393 Saint Anthony Ln	0.20mi	2/2.0 (-1)	1,120 (0%)	23mo	$75,000	$67	67
1606 Koonce Rd	1.23mi	3/2.0	1,280 (+14%)	11mo	$106,500	$83	32
4157 Kendrick Rd	1.04mi	2/1.0 (-1)	988 (-12%)	16mo	$75,000	$76	23
1334 Koonce Rd	1.44mi	3/2.0	1,280 (+14%)	35mo	$125,000	$98	21
2325 W Houston River Rd W	0.74mi	3/2.0	1,381 (+23%)	32mo	$70,000	$51	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.65% rent growth · sell at horizon

5-year hold

• IRR: 29.8%
• Equity multiple: 2.32×
• Total profit: $22,125
• Equity at exit: $8,931

10-year hold

• IRR: 39.6%
• Equity multiple: 5.55×
• Total profit: $76,348
• Equity at exit: $5,179

Cash invested: $16,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70663

• Rents YoY: 7.7%
• Active inventory: 338
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$44 /mo · $523/yr
• Insurance: −$25
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $422

Break-even live

Break-even rent $484

Max offer price $59,900

Occupancy floor 54%

Sensitivity live

Price	-10% $455	-5% $439	+0% $422	+5% $405	+10% $388
Rent	-10% $341	-5% $381	+0% $422	+5% $462	+10% $502
Rate	-1.0pp $452	-0.5pp $437	base $422	+0.5pp $406	+1.0pp $390

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,975
• Closing costs: $1,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-30
   days on market $59,900 Active 147 DOM
2. 2026-06-29
   days on market $59,900 Active 146 DOM
3. 2026-06-28
   days on market $59,900 Active 145 DOM
4. 2026-06-28
   days on market $59,900 Active 144 DOM
5. 2026-06-27
   days on market $59,900 Active 143 DOM
6. 2026-06-25
   days on market $59,900 Active 141 DOM
7. 2026-06-23
   days on market $59,900 Active 139 DOM
8. 2026-06-21
   days on market $59,900 Active 138 DOM
9. 2026-06-19
   days on market $59,900 Active 136 DOM
10. 2026-06-18
    days on market $59,900 Active 135 DOM
11. 2026-06-17
    days on market $59,900 Active 134 DOM
12. 2026-06-16
    days on market $59,900 Active 133 DOM
13. 2026-06-15
    days on market $59,900 Active 132 DOM
14. 2026-06-14
    days on market $59,900 Active 130 DOM
15. 2026-06-13
    days on market $59,900 Active 129 DOM
16. 2026-06-10
    days on market $59,900 Active 127 DOM
17. 2026-06-09
    days on market $59,900 Active 126 DOM
18. 2026-06-08
    days on market $59,900 Active 125 DOM
19. 2026-06-07
    days on market $59,900 Active 124 DOM
20. 2026-06-05
    days on market $59,900 Active 121 DOM
21. 2026-06-02
    days on market $59,900 Active 119 DOM
22. 2026-06-01
    days on market $59,900 Active 118 DOM
23. 2026-05-31
    days on market $59,900 Active 117 DOM
24. 2026-05-30
    days on market $59,900 Active 116 DOM
25. 2026-02-03
    listed $59,900 Active 201-char remark

    Show marketing remark (201 chars)

    Situated on almost 1.5 acres this property has room for gardens, etc. The 25' x 30' shop is a huge plus! The mobile home needs some work and has the potential to be really nice. This is priced to sell!

26. 2002-05-20
    soldstatus $56,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $523 · $44/mo
• Projected year-2 tax: $523 · $44/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 67% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,216
• − Mortgage interest: −$3,355
• − Property taxes: −$523
• − Insurance: −$300
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$1,743
• Taxable income: $4,341
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $4,017/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 7 photos

Fair 45/100 Moderate rehab Est. rehab $28,000–$50,400 screening

This mobile home requires extensive repairs and updates to its roof, exterior siding, flooring, interior walls, and HVAC system. These repairs will significantly improve the home's appearance and increase its value.

Components & finishes AI

Roof metal

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — Rusty metal roof with visible rust and corrosion
• Major Windows (windows) — Windows appear to be old and possibly not sealed properly
• Major Electrical (electrical) — Electrical panel appears old and possibly not up to code
• Major Plumbing (plumbing) — Plumbing fixtures appear old and possibly not up to code
• Major Exterior (exterior) — Exterior siding appears old and possibly not up to code

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible rust and possible damage.
• Major exterior siding — The exterior siding is peeling and shows significant wear and tear.
• Major flooring — The flooring appears to be in poor condition, with visible wear and tear.
• Major interior walls — The interior walls show signs of wear and tear, with possible paint peeling and damage.
• Major HVAC system — The HVAC system appears to be old and may need replacement or repair.

Value-add opportunities

• Resale New roof — A new roof will significantly improve the home's appearance and increase its value. ↑
• Resale New exterior siding — New siding will improve the home's curb appeal and increase its value. ↑
• Resale New flooring — New flooring will improve the home's appearance and increase its value. ↑
• Resale Painting — Painting will improve the home's appearance and increase its value. ↑
• Resale HVAC system replacement — A new HVAC system will improve the home's comfort and increase its value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Frasch Elementary School C LA #100/646 Nat'l #10,846/41,679 Middle Leblanc Middle School F LA #95/218 Nat'l #7,813/14,009 High Sulphur High School F LA #58/265 Nat'l #6,890/17,239

Schools (NCES district)

• District: Calcasieu Parish
• NCES district ID: 2200330
• Math proficiency: 30% ▼ -39.00%
• Reading proficiency: 44% ▼ -33.00%
• Median HH income: $44,700
• Composite: 31.45/100
• National rank: #5979
• State rank: #29 of 98 in LA

B Composite livability gradescore 71/100

Livability — Sulphur

• Score: 71/100
• State rank: #48
• US rank: #7164

Category grades

Amenities F Commute F Cost of living A+ Crime D- Employment C+ Housing A+ Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Calcasieu Parish · 212,179 people
• City population: 27,799
• Metro: Lake Charles, LA
• Population (ZIP): 27,799
• Household income: $64,707
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 14% of renters

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Population outlook (Calcasieu County) Hauer SSP2

• Today (2025): 212,179 people
• By 2030: 218,199 · +2.8%
• By 2040: 228,486 · +7.7%
• By 2050: 236,208 · +11.3%
• By 2075: 251,696 · +18.6%
• By 2100: 247,848 · +16.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 13% Slovak 2% Scandinavian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

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Political lean MEDSL · Calcasieu

• 2024 margin: Solid R (+39.6) · D 29.5% · R 69.0% · Other 1.5%
• 2008→2024 swing: -15.0pp toward R · 2008: -24.6pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+35.2 2016: R+33.3 2012: R+28.7 2008: R+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.29%
• Current HPI: 100.0895
• Rent YoY: ▲ 7.65%
• Metro: Lake Charles, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+6.0% since first listed

2 events — show timeline

• 2026-02-03 Listed $59,900 SWLAR
• 2002-05-20 Sold (Public Records) $56,500 Public Records

Property tax history

+1.6%/yr

Latest (2025): $523 · -1.7% YoY. Source: county tax records.