2113 Hwy 1183 Hwy

Simmesport, LA 71369

$145,000D-

3 bd · 2.0 ba · 1,280 sqft · Built 2012 · Manufactured · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,045/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-46/mo
• Annual: $-556/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• 1% rule: 0.72%
• Cash to close: $40,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $145k.
• At list price, monthly cash flow is $-46 ($-556/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (27.9% below list).
• It's been on market 156 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (27.9% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 54/100 on livability (#379 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, schools F, amenities F.
• Avoyelles Parish (rural): math 22% / reading 30% proficiency, ranked #56 of 98 in LA (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 10 active listings in the ZIP; 15 units permitted in Avoyelles Parish in 2024 (0 in 5+ unit buildings).
• Avoyelles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $123k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 156 days. Have you received any prior offers? Is the seller open to a 28% 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 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.