217 Hart Rd

Claiborne, LA 71291

$239,900D+

3 bd · 2.0 ba · 2,280 sqft · Built 2006 · Manufactured · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,942/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$408
• Net cashflow: $120/mo
• Annual: $1,443/yr
• Cap rate: 6.89%
• Cash-on-cash: 2.15%
• DSCR: 1.10
• 1% rule: 0.81%
• Cash to close: $67,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $240k.
• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (19.1% below list).
• It's been on market 62 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (19.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#109 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime D+, health & safety D, amenities F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George Welch Elementary School (math 42% / reading 62%, grade C-, #108 of 646 statewide, top 18%, 480 students, 38% FRL); Good Hope Middle School (math 35% / reading 53%, grade D, #51 of 218 statewide, top 24%, 602 students, 53% FRL); West Monroe High School (math 32% / reading 48%, grade F, #77 of 265 statewide, top 29%, 2,189 students, 58% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 201 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 4.0% in Claiborne — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 33% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 19% 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 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 D 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?
• 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.