2588 Delta Downs Dr

Vinton, LA 70668

$235,000D

3 bd · 2.0 ba · 2,554 sqft · Built 1956 · SingleFamily · Pending · 304 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,445/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$303
• Net cashflow: $-241/mo
• Annual: $-2,889/yr
• Cap rate: 5.06%
• Cash-on-cash: -4.39%
• DSCR: 0.80
• 1% rule: 0.61%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (38.5% below list).
• It's been on market 304 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $144k (38.5% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (2.3% local appreciation)).
• Location reads 64/100 on livability (#173 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Vinton Elementary School (math 27% / reading 42%, grade F, #284 of 646 statewide, top 46%, 458 students, 72% FRL); Vinton Middle School (math 20% / reading 32%, grade F, #137 of 218 statewide, top 63%, 214 students, 68% FRL); Vinton High School (math 32% / reading 37%, grade F, #106 of 265 statewide, top 43%, 301 students, 62% FRL) — zoned schools average 68% FRL vs 52% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 50 active listings in the ZIP; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 5, paydown + projected appreciation supports a ~$30k 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; moderate wildfire risk; extreme-heat days projected 7→22/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 304 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Built in 1956 — 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 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?
• 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?
• 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?