1116 Mulberry St · Pine Prairie, LA 70586

$69,000

3 bd · 2.0 ba · 1,440 sqft · SingleFamily · 32 Days on market

0.31 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Located just outside of Pine Prairie, this 3 bedroom, 2 bathroom home offers a great opportunity to add your personal touch while enjoying a peaceful country setting. The home features several updates that have already been completed, with a few remaining improvements needed to make it your own. Inside, you'll find a functional layout with comfortable living spaces and plenty of potential. Outside, the property includes a covered carport and a porch area perfect for relaxing and enjoying the outdoors. Conveniently located in the Pine Prairie/Bayou Chicot school zone, this property could make a great starter home, investment property, or renovation project.

Key facts

• Porch area
• Covered carport
• 0.31 acre lot

Tags

• COVERED CARPORT
• PORCH AREA

Property features AI

Exterior

• Parking: Detached carport (1 covered space)
• Utilities: Electric service: CLECO
• Home design: Single family residence; Vinyl siding; Composition roof
• Construction: Vinyl siding construction; Composition roof
• Exterior features: Partial wood fencing; Covered porch; Parish road frontage

Interior

• Kitchen: Dishwasher
• Flooring: Carpet; Tile; Wood laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Formica counters; Covered porch

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#220 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Evangeline Parish (rural): math 23% / reading 36% proficiency, ranked #48 of 98 in LA (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 28 units permitted in Evangeline Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Evangeline County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $69k implies a 53% gain — meaningful room to come down on a strong offer.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.61% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.08%
• DSCR: 2.20
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.0%
• Equity multiple: 1.86×
• Total profit: $16,581
• Equity at exit: $10,288

10-year hold

• IRR: 29.2%
• Equity multiple: 3.60×
• Total profit: $50,170
• Equity at exit: $5,966

Cash invested: $19,320 (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 70586

• Home prices YoY: -34.2%
• Active inventory: 75
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $436

Break-even live

Break-even rent $557

Max offer price $69,000

Occupancy floor 56%

Sensitivity live

Price	-10% $475	-5% $456	+0% $436	+5% $416	+10% $397
Rent	-10% $348	-5% $392	+0% $436	+5% $480	+10% $524
Rate	-1.0pp $471	-0.5pp $454	base $436	+0.5pp $418	+1.0pp $400

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $69,000 Active 32 DOM
2. 2026-06-21
   days on market $69,000 Active 31 DOM
3. 2026-06-18
   days on market $69,000 Active 29 DOM
4. 2026-06-17
   days on market $69,000 Active 28 DOM
5. 2026-06-16
   days on market $69,000 Active 27 DOM
6. 2026-06-15
   days on market $69,000 Active 26 DOM
7. 2026-06-13
   days on market $69,000 Active 24 DOM
8. 2026-06-12
   days on market $69,000 Active 23 DOM
9. 2026-06-09
   days on market $69,000 Active 20 DOM
10. 2026-06-08
    days on market $69,000 Active 19 DOM
11. 2026-06-07
    days on market $69,000 Active 18 DOM
12. 2026-06-07
    days on market $69,000 Active 17 DOM
13. 2026-06-04
    pricedays on market $69,000 Active 14 DOM
14. 2026-06-02
    days on market $74,900 Active 13 DOM
15. 2026-06-01
    days on market $74,900 Active 12 DOM
16. 2026-05-31
    days on market $74,900 Active 11 DOM
17. 2026-05-31
    days on market $74,900 Active 10 DOM
18. 2026-05-20
    listed $74,900 Active
19. 2009-07-08
    soldstatus $45,000
20. 2008-03-25
    listed $39,800
21. 2007-08-15
    listed $42,700

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $598 · $50/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $13,312
• − Mortgage interest: −$3,865
• − Property taxes: −$598
• − Insurance: −$345
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$2,007
• Taxable income: $4,367
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $4,184/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: Evangeline Parish
• NCES district ID: 2200630
• Math proficiency: 23% ▼ -46.00%
• Reading proficiency: 36% ▼ -37.00%
• Median HH income: $31,769
• Composite: 24.0/100
• National rank: #7774
• State rank: #48 of 98 in LA

Livability — Pine Prairie

• Score: 62/100
• State rank: #220
• US rank: #16951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,214
• Population (ZIP): 18,939

Population outlook (Evangeline County) Hauer SSP2

• Today (2025): 33,019 people
• By 2030: 32,359 · -2.0%
• By 2040: 30,860 · -6.5%
• By 2050: 29,125 · -11.8%
• By 2075: 24,605 · -25.5%
• By 2100: 18,499 · -44.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 32% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 12% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 86% English-only · French/Haitian/Cajun 13% Spanish 1%

Political lean MEDSL · Evangeline

• 2024 margin: Solid R (+49.1) · D 24.9% · R 74.0% · Other 1.2%
• 2008→2024 swing: -24.4pp toward R · 2008: -24.7pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+44.7 2016: R+41.3 2012: R+30.7 2008: R+24.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.91%
• Current HPI: 113.4032
• 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

+75.4% since first listed

4 events — show timeline

• 2026-05-20 Listed $74,900 AcadianaMLS
• 2009-07-08 Sold (Public Records) $45,000 Public Records
• 2008-03-25 Listed $39,800 AcadianaMLS
• 2007-08-15 Listed $42,700 AcadianaMLS

Property tax history

+3.5%/yr

Latest (2025): $598 · +8.4% YoY. Source: county tax records.