583 Main St

Grambling, LA 71245

$84,500B

3 bd · 2.0 ba · 1,824 sqft · Built 1942 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,053/mo
• Mortgage (P&I): −$443
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $255/mo
• Annual: $3,058/yr
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• 1% rule: 1.25%
• Cash to close: $23,660

Investor read

• This is a 3-bed/2.0-bath single-family listed at $84k.
• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• It's been on market 47 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($584 loan paydown + $2k appreciation (2.8% local appreciation)).
• Location reads 64/100 on livability (#159 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Lincoln Parish (town): math 35% / reading 45% proficiency, ranked #24 of 98 in LA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 171 units permitted in Lincoln Parish in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 2y ago 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.
• Current owner paid $54k; list at $84k implies a 55% gain — meaningful room to come down on a strong offer.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.