3042 Railroad St

Basile, LA 70515

$40,000A-

2 bd · 1.0 ba · 861 sqft · Built — · SingleFamily · Active · 164 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,198/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $704/mo
• Annual: $8,449/yr
• Cap rate: 27.41%
• Cash-on-cash: 75.43%
• DSCR: 4.36
• 1% rule: 2.99%
• Cash to close: $11,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 164 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($277 loan paydown + $2k appreciation (4.2% local appreciation)).
• Location reads 64/100 on livability (#169 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: amenities F, commute F, employment 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.
• Zoned schools: James Stephens Montessori School (math 32% / reading 42%, grade F, #251 of 646 statewide, top 41%, 442 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 27 active listings in the ZIP; 28 units permitted in Evangeline Parish in 2024 (0 in 5+ unit buildings).
• Evangeline County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $25k; list at $40k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.
• 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.