32640 Francise St

White Castle, LA 70788

$129,900B-

4 bd · 3.0 ba · 2,300 sqft · Built 2010 · SingleFamily · Pending · 126 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,401/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$164
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $262/mo
• Annual: $3,145/yr
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• 1% rule: 1.08%
• Cash to close: $36,372

Investor read

• This is a 4-bed/3.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 126 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($898 loan paydown + $4k appreciation (2.8% local appreciation)).
• Location reads 52/100 on livability (#400 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools C-, crime F, amenities F.
• Iberville Parish (rural): math 23% / reading 34% proficiency, ranked #45 of 98 in LA (top 46%) — 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.
• Market conditions: 7 active listings in the ZIP; 117 units permitted in Iberville Parish in 2024 (0 in 5+ unit buildings).
• Iberville County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $35k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $130k implies a 111% gain — meaningful room to come down on a strong offer.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% 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

• It's been on market 126 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.
• 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?
• 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.