979 E Bear Lake Rd

Tallulah, LA 71282

$50,000D+

2 bd · 1.0 ba · 1,200 sqft · Built 1800 · Manufactured · Active · 175 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,401/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$35
• HOA: −$0
• Vac / Maint / Mgmt: −$504
• Net cashflow: $1,600/mo
• Annual: $19,200/yr
• Cap rate: 44.69%
• Cash-on-cash: 137.14%
• DSCR: 7.10
• 1% rule: 4.80%
• Cash to close: $14,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 175 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($346 loan paydown + $965 appreciation (1.9% local appreciation)).
• Location reads 61/100 on livability (#230 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Madison Parish (town): math 3% / reading 10% proficiency, ranked #98 of 98 in LA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tallulah Elementary School (math 2% / reading 8%, grade F, #633 of 646 statewide, top 99%, 346 students, 90% FRL); Madison Middle School (math 8% / reading 12%, grade F, #202 of 218 statewide, top 93%, 244 students, 88% FRL); Madison High School (math 2% / reading 12%, grade F, #251 of 265 statewide, top 97%, 364 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 25 active listings in the ZIP; 2 units permitted in Madison Parish in 2024 (0 in 5+ unit buildings).
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.