Griffin Plan

Prairieville, LA 70734

$363,000F

3 bd · 2.0 ba · 1,916 sqft · Built — · SingleFamily · Active · 284 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,190/mo
• Mortgage (P&I): −$2,195
• Tax + insurance: −$698
• HOA: −$0
• Vac / Maint / Mgmt: −$670
• Net cashflow: $-372/mo
• Annual: $-4,469/yr
• Cap rate: 5.23%
• Cash-on-cash: -3.81%
• DSCR: 0.83
• 1% rule: 0.76%
• Cash to close: $117,185

Investor read

• This is a 3-bed/2.0-bath single-family listed at $363k.
• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $319k (12.1% below list).
• It's been on market 284 days — a 12% lower offer ($319k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $319k (12.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#70 in LA) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Ascension Parish (suburban): math 48% / reading 58% proficiency, ranked #7 of 98 in LA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 579 units permitted in Ascension Parish in 2024 (0 in 5+ unit buildings).
• Ascension County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.2% vs local median 4.3% in Prairieville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 284 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 A-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?
• 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.