319 Ford St

Reeves, LA 70658

$189,900D

3 bd · 2.0 ba · 2,497 sqft · Built 1975 · SingleFamily · Pending · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,504/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$316
• Net cashflow: $-65/mo
• Annual: $-783/yr
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• 1% rule: 0.79%
• Cash to close: $53,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-65 ($-783/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (20.8% below list).
• It's been on market 105 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (20.8% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#341 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Allen Parish (rural): math 26% / reading 42% proficiency, ranked #36 of 98 in LA (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 46 units permitted in Allen Parish in 2024 (0 in 5+ unit buildings).
• Allen County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $190k implies a 258% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 105 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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?
• 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?