2038 N Beglis Pkwy N

Sulphur, LA 70663

$268,900D-

4 bd · 3.0 ba · 2,500 sqft · Built 2021 · Manufactured · Pending · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,713/mo
• Mortgage (P&I): −$1,410
• Tax + insurance: −$264
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $-321/mo
• Annual: $-3,846/yr
• Cap rate: 4.86%
• Cash-on-cash: -5.11%
• DSCR: 0.77
• 1% rule: 0.64%
• Cash to close: $75,292

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $269k.
• At list price, monthly cash flow is $-321 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (36.3% below list).
• It's been on market 73 days — a 6% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $171k (36.3% 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 $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#48 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A; Watch: crime D-, amenities F, commute F.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.7%/yr); 291 active listings in the ZIP; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $68k; list at $269k implies a 295% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.9% vs local median 8.8% in Sulphur — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 73 days. Have you received any prior offers? Is the seller open to a 36% 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 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?
• 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.