414 Edgar St St

Sulphur, LA 70663

$64,900B

3 bd · 2.0 ba · 1,100 sqft · Built 2015 · Manufactured · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $910/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$191
• Net cashflow: $306/mo
• Annual: $3,667/yr
• Cap rate: 11.94%
• Cash-on-cash: 20.18%
• DSCR: 1.90
• 1% rule: 1.40%
• Cash to close: $18,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $65k. Condition is rated fair.
• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($910 rent vs $65k).
• It's been on market 121 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: E. K. Key Elementary School (math 38% / reading 45%, grade F, #212 of 646 statewide, top 33%, 533 students, 64% 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).
• Market conditions: Rents rising fast (+7.7%/yr); 338 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.9% 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.
• This rent is only 17% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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?
• 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?
• 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)

• Major: Kitchen flooring — The flooring appears worn and dated, requiring replacement.
• Major: Bathroom flooring — The flooring appears worn and dated, requiring replacement.
• Moderate: Exterior siding — The siding appears weathered and may need repainting or replacement.
• Minor: Interior walls — The paint appears faded, but the walls are structurally sound.
• Minor: Foundation cracks — There are visible cracks in the concrete, but they are not severe.