4510 Oak Ridge Dr

Carlyss, LA 70665

$379,900C

3 bd · 2.0 ba · 2,287 sqft · Built 2002 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$1,992
• Tax + insurance: −$806
• HOA: −$0
• Vac / Maint / Mgmt: −$945
• Net cashflow: $757/mo
• Annual: $9,085/yr
• Cap rate: 10.03%
• Cash-on-cash: 13.35%
• DSCR: 1.59
• 1% rule: 1.18%
• Cash to close: $106,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $380k.
• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $380k).
• It's been on market 44 days — a 3% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $369k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#237 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; 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.
• Zoned schools: Vincent Settlement Elementary School (math 62% / reading 67%, grade B, #40 of 646 statewide, top 7%, 321 students, 41% FRL); W. W. Lewis Middle School (math 33% / reading 48%, grade F, #62 of 218 statewide, top 29%, 777 students, 49% FRL); Sulphur High School (math 36% / reading 53%, grade F, #58 of 265 statewide, top 23%, 2,043 students, 47% FRL).
• Zoned-school proficiency averages 50% at this address vs 37% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Calcasieu Parish average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 236 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 2 sale attempts since 8y 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 $245k; list at $380k implies a 55% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.0% vs local median 8.3% in Carlyss — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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?
• 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.