37156 Caraway Rd · Watson, LA 70706

$144,000

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 19 Days on market

Built 1997 1.00 ac lot Est $145k · at est.

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Why this score? — see what drove the B- 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 +29.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.7/15.0
• 1% rule +7.2/10.0
• Schools +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

Key facts

• Remodeled
• Fresh paint
• Newer roof

Tags

• REMODELED
• NEW FLOORING
• FRESH PAINT
• MODERN LIGHTING
• UPDATED BATHROOMS
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $144k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $142k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.8% in Watson — 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.

Location & tenants

• Location reads 71/100 on livability (#50 in LA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Livingston Parish (suburban): math 40% / reading 52% proficiency, ranked #13 of 98 in LA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 342 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 794 units permitted in Livingston Parish in 2024 (99 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Livingston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 9y 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 $98k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $141,840 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.60%
• DSCR: 1.69
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $144,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37156 Caraway Rd	0.00mi	3/2.0	1,280 (0%)	1mo	$144,000	$113	99

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 6.4%
• Equity multiple: 1.25×
• Total profit: $9,993
• Equity at exit: $21,471

10-year hold

• IRR: 15.7%
• Equity multiple: 2.28×
• Total profit: $51,457
• Equity at exit: $12,450

Cash invested: $40,320 (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 70706

• Active inventory: 342
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,750 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$43 /mo · $518/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $524

Break-even live

Break-even rent $1,086

Max offer price $144,000

Occupancy floor 65%

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10552 Tumbleweed Dr Denham Springs, LA	3.0	2.0	1463	$1,750	$1.20	43d	1	1.45mi

Listing history 20 events

1. 2026-04-23
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

2. 2026-04-23
   status Pending

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

3. 2026-04-07
   status Active 336-char remark

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

4. 2026-04-07
   status Active

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

5. 2026-03-30
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

6. 2026-03-30
   status Pending

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

7. 2026-03-27
   listed $144,000 Active 336-char remark

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

8. 2026-03-27
   listed $144,000 Active

   Show marketing remark (336 chars)

   Welcome home to this beautifully remodeled 3 bedroom, 2 bathroom property situated on a full acre. Offering new flooring, fresh paint, modern lighting, updated bathrooms, and a newer roof (3 years old), this home combines comfort and peace of mind. Nestled among mature trees in Flood Zone X and located in the Live Oak school district.

9. 2022-11-16
   soldstatus $98,000
10. 2022-11-15
    soldstatus Sold 593-char remark

    Show marketing remark (593 chars)

    MASSIVE OPPORTUNITY! Property was being used as a rental and would be a phenomenal rental property for any investor looking in the Watson area. This completely renovated mobile home would also make a great homestead for anyone looking for a 1 acre tract of land in a prime area of Watson. This property is in Live Oak School district. Property did not flood in 2016 and does not require flood insurance. The neighboring tract of land containing another mobile home is owned by sellers and could be bought together as a 1.5 acre package deal. Please contact listing agent for further details.

11. 2022-10-24
    soldstatus $90,000
12. 2022-10-17
    status Pending 593-char remark

    Show marketing remark (593 chars)

    MASSIVE OPPORTUNITY! Property was being used as a rental and would be a phenomenal rental property for any investor looking in the Watson area. This completely renovated mobile home would also make a great homestead for anyone looking for a 1 acre tract of land in a prime area of Watson. This property is in Live Oak School district. Property did not flood in 2016 and does not require flood insurance. The neighboring tract of land containing another mobile home is owned by sellers and could be bought together as a 1.5 acre package deal. Please contact listing agent for further details.

13. 2022-09-27
    status Active 593-char remark

    Show marketing remark (593 chars)

    MASSIVE OPPORTUNITY! Property was being used as a rental and would be a phenomenal rental property for any investor looking in the Watson area. This completely renovated mobile home would also make a great homestead for anyone looking for a 1 acre tract of land in a prime area of Watson. This property is in Live Oak School district. Property did not flood in 2016 and does not require flood insurance. The neighboring tract of land containing another mobile home is owned by sellers and could be bought together as a 1.5 acre package deal. Please contact listing agent for further details.

14. 2022-08-25
    status Pending 593-char remark

    Show marketing remark (593 chars)

    MASSIVE OPPORTUNITY! Property was being used as a rental and would be a phenomenal rental property for any investor looking in the Watson area. This completely renovated mobile home would also make a great homestead for anyone looking for a 1 acre tract of land in a prime area of Watson. This property is in Live Oak School district. Property did not flood in 2016 and does not require flood insurance. The neighboring tract of land containing another mobile home is owned by sellers and could be bought together as a 1.5 acre package deal. Please contact listing agent for further details.

15. 2022-08-23
    listed $105,000 Active 593-char remark

    Show marketing remark (593 chars)

    MASSIVE OPPORTUNITY! Property was being used as a rental and would be a phenomenal rental property for any investor looking in the Watson area. This completely renovated mobile home would also make a great homestead for anyone looking for a 1 acre tract of land in a prime area of Watson. This property is in Live Oak School district. Property did not flood in 2016 and does not require flood insurance. The neighboring tract of land containing another mobile home is owned by sellers and could be bought together as a 1.5 acre package deal. Please contact listing agent for further details.

16. 2022-08-23
    listed $105,000

    Show marketing remark (593 chars)

    MASSIVE OPPORTUNITY! Property was being used as a rental and would be a phenomenal rental property for any investor looking in the Watson area. This completely renovated mobile home would also make a great homestead for anyone looking for a 1 acre tract of land in a prime area of Watson. This property is in Live Oak School district. Property did not flood in 2016 and does not require flood insurance. The neighboring tract of land containing another mobile home is owned by sellers and could be bought together as a 1.5 acre package deal. Please contact listing agent for further details.

17. 2017-03-08
    historical
18. 2017-01-29
    status Pending
19. 2017-01-10
    listed $89,900 Active
20. 2017-01-10
    listed $89,900

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

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $518 · $43/mo
• Projected year-2 tax: $792 · $66/mo
• Expected delta: +$274/yr (+$23/mo · 52.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,000
• − Mortgage interest: −$8,066
• − Property taxes: −$518
• − Insurance: −$720
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$4,189
• Taxable income: $4,147
• Est. tax owed @ 24.0%: −$995
• After-tax cash flow: $5,295/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: Livingston Parish
• NCES district ID: 2201020
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 52% ▼ -32.00%
• Median HH income: $56,755
• Composite: 40.07/100
• National rank: #3811
• State rank: #13 of 98 in LA

Livability — Watson

• Score: 71/100
• State rank: #50
• US rank: #7247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 22,621

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 158,511 people
• By 2030: 168,241 · +6.1%
• By 2040: 186,252 · +17.5%
• By 2050: 201,516 · +27.1%
• By 2075: 231,217 · +45.9%
• By 2100: 241,697 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 15% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada, China

Political lean MEDSL · Livingston

• 2024 margin: Solid R (+68.5) · D 15.1% · R 83.6% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -71.9pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+70.0 2016: R+72.5 2012: R+70.4 2008: R+71.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.82%
• Current HPI: 160.2185
• 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

+60.2% since first listed

20 events — show timeline

• 2026-04-23 Pending — AcadianaMLS
• 2026-04-23 Pending — GBRMLS
• 2026-04-07 Relisted — AcadianaMLS
• 2026-04-07 Relisted — GBRMLS
• 2026-03-30 Pending — AcadianaMLS
• 2026-03-30 Pending — GBRMLS
• 2026-03-27 Listed $144,000 GBRMLS
• 2026-03-27 Listed $144,000 AcadianaMLS
• 2022-11-16 Sold (Public Records) $98,000 Public Records
• 2022-11-15 Sold (MLS) — GBRMLS
• 2022-10-24 Sold (Public Records) $90,000 Public Records
• 2022-10-17 Pending — GBRMLS
• 2022-09-27 Relisted — GBRMLS
• 2022-08-25 Pending — GBRMLS
• 2022-08-23 Listed $105,000 AcadianaMLS
• 2022-08-23 Listed $105,000 GBRMLS
• 2017-03-08 Delisted — GBRMLS
• 2017-01-29 Pending — GBRMLS
• 2017-01-10 Listed $89,900 GBRMLS
• 2017-01-10 Listed $89,900 AcadianaMLS

Property tax history

-1.5%/yr

Latest (2024): $518 · +8.4% YoY. Source: county tax records.