Springfield Plan

Prairieville, LA 70734

$405,000F

4 bd · 3.0 ba · 2,251 sqft · Built — · SingleFamily · Active · 287 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,298/mo
• Mortgage (P&I): −$2,383
• Tax + insurance: −$757
• HOA: −$0
• Vac / Maint / Mgmt: −$693
• Net cashflow: $-534/mo
• Annual: $-6,412/yr
• Cap rate: 4.88%
• Cash-on-cash: -5.04%
• DSCR: 0.78
• 1% rule: 0.73%
• Cash to close: $127,214

Investor read

• This is a 4-bed/3.0-bath single-family listed at $405k. Condition is rated poor.
• At list price, monthly cash flow is $-534 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $377k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (18.6% below list).
• It's been on market 287 days — a 12% lower offer ($356k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $330k (18.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#70 in LA) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Ascension Parish (suburban): math 48% / reading 58% proficiency, ranked #7 of 98 in LA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Spanish Lake Primary School (math 62% / reading 62%, grade B, #50 of 646 statewide, top 9%, 540 students, 41% FRL); Dutchtown Middle School (math 56% / reading 70%, grade B+, #10 of 218 statewide, top 5%, 657 students, 36% FRL); Dutchtown High School (math 70% / reading 68%, grade B, #9 of 265 statewide, top 3%, 2,643 students, 30% FRL).
• Market conditions: 139 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 579 units permitted in Ascension Parish in 2024 (0 in 5+ unit buildings).
• Ascension County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 287 days. Have you received any prior offers? Is the seller open to a 19% 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and potential leaks are visible.
• Major: exterior walls — Severe peeling paint and possible structural issues are evident.
• Major: landscaping — Overgrown and in need of maintenance, with no visible curb appeal features.
• Major: interior walls/paint — The exterior condition suggests the interior may be in a similar state, with peeling paint and potential structural issues.
• Major: systems — The overall condition suggests they may be in need of repair or replacement, with no visible systems in the photos.