20245 Highway 1062 · Independence, LA 70446

$180,000

3 bd · 1.0 ba · 1,234 sqft · SingleFamily public records · 38 Days on market

Built 1967

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Why this score? — see what drove the D+ 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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

2+ Acre Retreat with Large Workshop & amp; Versatile Living Space Discover the perfect blend of country living and functional workspace on this beautiful 2.02-acre lot. This classic 1964 Jim Walter home features a functional floor plan with 3 bedrooms and 1 bath, plus a generous bonus room & acirc; & euro; & rdquo; perfect for a 4th bedroom, home office, or recreational den. Outside, the property truly shines. A large carport provides convenient covered parking, while the standout feature is a large detached building equipped with two oversized doors. Whether you are into woodworking, automotive restoration, or need serious storage for equipment, this shop is ready for your

Key facts

• Detached building
• Oversized doors
• Large carport

Tags

• 2 ACRE RETREAT
• LARGE WORKSHOP
• VERSATILE LIVING SPACE
• LARGE CARPORT
• DETACHED BUILDING
• OVERSIZED DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (9.6% below list).
• Recommended offer: $163k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.0% in Independence — 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.

Location & tenants

• Location reads 56/100 on livability (#351 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Tangipahoa Parish (rural): math 18% / reading 29% proficiency, ranked #63 of 98 in LA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 60 active listings in the ZIP; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,712 (9.6% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.62%
• DSCR: 1.25
• GRM: 9.2

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: -10.0%
• Equity multiple: 0.63×
• Total profit: $-18,421
• Equity at exit: $26,839

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,353
• Equity at exit: $15,563

Cash invested: $50,400 (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 70446

• Home prices YoY: -33.1%
• Active inventory: 60
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,627 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$30 /mo · $365/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $170

Break-even live

Break-even rent $1,412

Max offer price $180,000

Occupancy floor 85%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $180,000 Active 38 DOM
2. 2026-06-18
   days on market $180,000 Active 37 DOM
3. 2026-06-17
   days on market $180,000 Active 36 DOM
4. 2026-06-16
   days on market $180,000 Active 35 DOM
5. 2026-06-15
   days on market $180,000 Active 34 DOM
6. 2026-06-14
   days on market $180,000 Active 32 DOM
7. 2026-06-13
   days on market $180,000 Active 31 DOM
8. 2026-06-10
   days on market $180,000 Active 29 DOM
9. 2026-06-09
   days on market $180,000 Active 28 DOM
10. 2026-06-08
    days on market $180,000 Active 27 DOM
11. 2026-06-07
    days on market $180,000 Active 26 DOM
12. 2026-06-05
    days on market $180,000 Active 23 DOM
13. 2026-06-03
    days on market $180,000 Active 22 DOM
14. 2026-06-02
    days on market $180,000 Active 21 DOM
15. 2026-06-01
    days on market $180,000 Active 20 DOM
16. 2026-05-31
    days on market $180,000 Active 19 DOM
17. 2026-05-30
    days on market $180,000 Active 18 DOM
18. 2026-05-12
    listed $180,000 Active 801-char remark

ⓘ 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: $365 · $30/mo
• Projected year-2 tax: $990 · $82/mo
• Expected delta: +$625/yr (+$52/mo · 171.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,525
• − Mortgage interest: −$10,083
• − Property taxes: −$365
• − Insurance: −$1,697
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$5,236
• Taxable loss: −$981
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $2,270/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: Tangipahoa Parish
• NCES district ID: 2201680
• Math proficiency: 18% ▼ -32.00%
• Reading proficiency: 29% ▼ -31.00%
• Median HH income: $41,283
• Composite: 19.94/100
• National rank: #8676
• State rank: #63 of 98 in LA

Livability — Independence

• Score: 56/100
• State rank: #351
• US rank: #23010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,871

Population outlook (Tangipahoa County) Hauer SSP2

• Today (2025): 144,204 people
• By 2030: 151,413 · +5.0%
• By 2040: 164,374 · +14.0%
• By 2050: 175,427 · +21.7%
• By 2075: 195,165 · +35.3%
• By 2100: 201,641 · +39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Lithuanian 13%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Tangipahoa

• 2024 margin: Solid R (+37.4) · D 30.6% · R 68.0% · Other 1.3%
• 2008→2024 swing: -6.5pp toward R · 2008: -30.9pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+32.8 2016: R+32.6 2012: R+27.7 2008: R+30.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.41%
• Current HPI: 133.9227
• 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

1 event — show timeline

• 2026-05-12 Listed $180,000 FSBO.com

Property tax history

-1.7%/yr

Latest (2025): $365 · -25.1% YoY. Source: county tax records.