2240 Leglise St

Mansura, LA 71350

$30,000B

3 bd · 2.0 ba · 1,125 sqft · Built 2013 · Manufactured · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $980/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$38
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $579/mo
• Annual: $6,951/yr
• Cap rate: 29.46%
• Cash-on-cash: 82.76%
• DSCR: 4.68
• 1% rule: 3.27%
• Cash to close: $8,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $30k.
• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $30k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($207 loan paydown + $875 appreciation (2.9% local appreciation)).
• Location reads 60/100 on livability (#256 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Avoyelles Parish (rural): math 22% / reading 30% proficiency, ranked #56 of 98 in LA (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Plaucheville Elementary School (math 22% / reading 36%, grade F, #348 of 646 statewide, top 54%, 610 students, 55% FRL); Avoyelles High School (math 18% / reading 25%, grade F, #177 of 265 statewide, top 67%, 536 students, 53% FRL) — zoned schools average 54% FRL vs 75% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 15 units permitted in Avoyelles Parish in 2024 (0 in 5+ unit buildings).
• Avoyelles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.