12188 Little Missouri Loop

Bonita, LA 71261

$59,000B

2 bd · 1.0 ba · 768 sqft · Built — · Other · Pending · 405 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $836/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $298/mo
• Annual: $3,578/yr
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• 1% rule: 1.42%
• Cash to close: $16,520

Investor read

• This is a 2-bed/1.0-bath other listed at $59k.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($836 rent vs $59k).
• It's been on market 405 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($408 loan paydown + $2k appreciation (2.7% local appreciation)).
• Location reads 41/100 on livability (#460 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, schools F, amenities F.
• Morehouse Parish (town): math 10% / reading 19% proficiency, ranked #83 of 98 in LA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 10 active listings in the ZIP; 11 units permitted in Morehouse Parish in 2024 (0 in 5+ unit buildings).
• Morehouse County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $30k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $59k implies a 136% gain — meaningful room to come down on a strong offer.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 405 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.