509 Highway 856 · Mangham, LA 71218

$21,000

12 bd · None ba · 4,800 sqft · Manufactured · 52 Days on market

Built 2026 3.50 ac lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

4 Unit Mobile Home park for Lease only 20+- minutes from META site. The property is 3.5+- acres located in a rural setting just East of Archibald Louisiana. The Homes are all NEW 3-bedrooms, two bath units that are 1,200+- heated sq. ft. All utilities, maintenance, furniture, appliances, TV and cooking utensils are included in the lease. Cleaning services can be negotiated with the owner. Owner would prefer at least a one-year lease with one individual or company, but any offer will be considered. This is a very nice quiet area with several access routes to the construction site. Very Nice!

Key facts

• 3.5 acre lot
• Built 2026
• Listed 51 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Natural gas not available
• Home design: Residential mobile home
• Construction: Vinyl siding; Fiberglass roof; Crawl space foundation; Year built not provided
• Exterior features: No patio or porch listed; 3.5-acre lot

Interior

• Kitchen: Dishwasher; Refrigerator; Electric Range; Microwave; Electric Water Heater
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Other interior features
• Laundry & utility: In-unit laundry (washer and dryer included)

What this means for you Summary

Snapshot

• This is a 12-bed/?-bath manufactured listed at $21k.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $21k).
• Recommended offer: $20k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#296 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Richland Parish (rural): math 12% / reading 22% proficiency, ranked #73 of 98 in LA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 27 units permitted in Richland Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $775 of equity ($145 loan paydown + $630 appreciation (3.0% local appreciation)).
• Richland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($20k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 80% 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.

Recommended offer $20,370 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 6.58% ✓
• Cap rate: 60.35%
• Cash-on-cash: 193.08%
• DSCR: 9.59
• GRM: 1.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.68×
• Total profit: $62,807
• Equity at exit: $9,443

10-year hold

• IRR: —
• Equity multiple: 24.67×
• Total profit: $139,172
• Equity at exit: $14,552

Cash invested: $5,880 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 71218

• Active inventory: 1
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,381 medium
• Mortgage (P&I): −$110
• Tax est. 1.5%: −$26 /mo · $315/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $946

Break-even live

Break-even rent $184

Max offer price $21,000

Occupancy floor 27%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $5,250
• Closing costs: $630
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $21,000 Active 52 DOM
2. 2026-06-18
   days on market $21,000 Active 51 DOM
3. 2026-06-17
   days on market $21,000 Active 50 DOM
4. 2026-06-16
   days on market $21,000 Active 49 DOM
5. 2026-06-15
   days on market $21,000 Active 48 DOM
6. 2026-06-14
   days on market $21,000 Active 46 DOM
7. 2026-06-13
   days on market $21,000 Active 45 DOM
8. 2026-06-10
   days on market $21,000 Active 43 DOM
9. 2026-06-09
   days on market $21,000 Active 42 DOM
10. 2026-06-08
    days on market $21,000 Active 41 DOM
11. 2026-06-07
    days on market $21,000 Active 40 DOM
12. 2026-06-02
    days on market $21,000 Active 35 DOM
13. 2026-06-01
    days on market $21,000 Active 34 DOM
14. 2026-05-31
    days on market $21,000 Active 33 DOM
15. 2026-05-30
    days on market $21,000 Active 32 DOM
16. 2026-04-27
    listed $21,000 Active 597-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 65% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,575
• − Mortgage interest: −$1,176
• − Property taxes: −$315
• − Insurance: −$105
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$611
• Taxable income: $11,716
• Est. tax owed @ 24.0%: −$2,812
• After-tax cash flow: $8,541/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Richland Parish
• NCES district ID: 2201350
• Math proficiency: 12% ▼ -36.00%
• Reading proficiency: 22% ▼ -31.00%
• Median HH income: $36,097
• Composite: 14.06/100
• National rank: #9464
• State rank: #73 of 98 in LA

Livability — Mangham

• Score: 58/100
• State rank: #296
• US rank: #20964

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

1 event — show timeline

• 2026-04-27 Listed $21,000 NELABOR