148 Highway 577 · Delhi, LA 71232

$94,000

3 bd · 2.0 ba · 1,193 sqft · Manufactured · 473 Days on market

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Why this score? — see what drove the C+ 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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• 1% rule +5.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Listing remarks MLS

Only 16 miles from the upcoming Meta Plant. Lovely property on Joe's Bayou perfect for fishing, boating, kayaking. relax on front porch or the sunroom facing the bayou-Property includes small cabin/electricity and running water. Get away to your private view Joe's Bayou-3/2 MH with possibility of 4th bedroom. Two storage buildings and the refrigerator will remain.

Key facts

• Sunroom facing bayou
• Waterfront property
• Garage

Tags

• WATERFRONT PROPERTY
• SUNROOM FACING BAYOU

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $94k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#261 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+, crime B; Watch: health & safety D, amenities F, commute F.
• Madison Parish (town): math 3% / reading 10% proficiency, ranked #98 of 98 in LA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tallulah Elementary School (math 2% / reading 8%, grade F, #633 of 646 statewide, top 99%, 346 students, 90% FRL); Madison Middle School (math 8% / reading 12%, grade F, #202 of 218 statewide, top 93%, 244 students, 88% FRL); Madison High School (math 2% / reading 12%, grade F, #251 of 265 statewide, top 97%, 364 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 46 active listings in the ZIP; 2 units permitted in Madison Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($650 loan paydown + $4k appreciation (4.3% local appreciation)).
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 473 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 473 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 2.24×
• Total profit: $32,699
• Equity at exit: $49,176

10-year hold

• IRR: 20.6%
• Equity multiple: 4.34×
• Total profit: $87,886
• Equity at exit: $81,665

Cash invested: $26,320 (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 →

ZIP-level market 71232

• Home prices YoY: 3.4%
• Active inventory: 46
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$38 /mo · $451/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $234

Break-even live

Break-even rent $721

Max offer price $94,000

Occupancy floor 72%

Sensitivity live

Price	-10% $287	-5% $261	+0% $234	+5% $208	+10% $181
Rent	-10% $154	-5% $194	+0% $234	+5% $274	+10% $315
Rate	-1.0pp $282	-0.5pp $258	base $234	+0.5pp $210	+1.0pp $185

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $94,000 Active 473 DOM
2. 2026-06-19
   days on market $94,000 Active 471 DOM
3. 2026-06-18
   days on market $94,000 Active 470 DOM
4. 2026-06-17
   days on market $94,000 Active 469 DOM
5. 2026-06-16
   days on market $94,000 Active 468 DOM
6. 2026-06-15
   days on market $94,000 Active 467 DOM
7. 2026-06-14
   days on market $94,000 Active 465 DOM
8. 2026-06-12
   days on market $94,000 Active 464 DOM
9. 2026-06-09
   days on market $94,000 Active 461 DOM
10. 2026-06-08
    days on market $94,000 Active 460 DOM
11. 2026-06-07
    days on market $94,000 Active 459 DOM
12. 2026-06-03
    days on market $94,000 Active 455 DOM
13. 2026-06-02
    days on market $94,000 Active 454 DOM
14. 2026-06-01
    days on market $94,000 Active 453 DOM
15. 2026-05-31
    days on market $94,000 Active 452 DOM
16. 2026-05-30
    days on market $94,000 Active 451 DOM
17. 2026-01-06
    status Active 366-char remark

    Show marketing remark (366 chars)

    Only 16 miles from the upcoming Meta Plant. Lovely property on Joe's Bayou perfect for fishing, boating, kayaking. relax on front porch or the sunroom facing the bayou-Property includes small cabin/electricity and running water. Get away to your private view Joe's Bayou-3/2 MH with possibility of 4th bedroom. Two storage buildings and the refrigerator will remain.

18. 2025-07-15
    status Pending 366-char remark

    Show marketing remark (366 chars)

    Only 16 miles from the upcoming Meta Plant. Lovely property on Joe's Bayou perfect for fishing, boating, kayaking. relax on front porch or the sunroom facing the bayou-Property includes small cabin/electricity and running water. Get away to your private view Joe's Bayou-3/2 MH with possibility of 4th bedroom. Two storage buildings and the refrigerator will remain.

19. 2024-09-11
    listed $94,000 Active 366-char remark

    Show marketing remark (366 chars)

    Only 16 miles from the upcoming Meta Plant. Lovely property on Joe's Bayou perfect for fishing, boating, kayaking. relax on front porch or the sunroom facing the bayou-Property includes small cabin/electricity and running water. Get away to your private view Joe's Bayou-3/2 MH with possibility of 4th bedroom. Two storage buildings and the refrigerator will remain.

20. 2024-05-29
    price $77,500
21. 2024-03-04
    price $87,000
22. 2023-12-26
    price $77,500
23. 2023-10-02
    listed $87,000 Active

ⓘ 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: $451 · $38/mo
• Projected year-2 tax: $517 · $43/mo
• Expected delta: +$66/yr (+$5/mo · 14.5%)

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

Taxation est. · year 1

• Rental income: $12,211
• − Mortgage interest: −$5,265
• − Property taxes: −$451
• − Insurance: −$470
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$2,735
• Taxable income: $1,336
• Est. tax owed @ 24.0%: −$321
• After-tax cash flow: $2,489/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.

Schools (NCES district)

• District: Madison Parish
• NCES district ID: 2201050
• Math proficiency: 3% ▼ -32.00%
• Reading proficiency: 10% ▼ -32.00%
• Median HH income: $26,166
• Composite: 4.42/100
• National rank: #10055
• State rank: #98 of 98 in LA

Livability — Delhi

• Score: 60/100
• State rank: #261
• US rank: #19213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,003

Population outlook (Madison County) Hauer SSP2

• Today (2025): 10,899 people
• By 2030: 10,468 · -4.0%
• By 2040: 9,680 · -11.2%
• By 2050: 8,990 · -17.5%
• By 2075: 7,739 · -29.0%
• By 2100: 6,531 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Black 39% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% Spanish 1%

Political lean MEDSL · Madison

• 2024 margin: Lean D (+6.2) · D 52.5% · R 46.2% · Other 1.3%
• 2008→2024 swing: -11.7pp toward R · 2008: 17.9pp · 2024: 6.2pp
• All cycles: 2024: D+6.2 2020: D+15.5 2016: D+17.3 2012: D+22.2 2008: D+17.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.27%
• Current HPI: 129.3086
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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

+8.0% since first listed

7 events — show timeline

• 2026-01-06 Relisted — NELABOR
• 2025-07-15 Pending — NELABOR
• 2024-09-11 Listed $94,000 NELABOR
• 2024-05-29 Price Changed $77,500 NELABOR
• 2024-03-04 Price Changed $87,000 NELABOR
• 2023-12-26 Price Changed $77,500 NELABOR
• 2023-10-02 Listed $87,000 NELABOR

Property tax history

+0.6%/yr

Latest (2025): $451 · +0.0% YoY. Source: county tax records.