1021 Goodwin St

Vinton, LA 70668

$123,900B+

4 bd · 2.0 ba · 2,372 sqft · Built 1957 · SingleFamily · Active · 867 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,478/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$310
• Net cashflow: $343/mo
• Annual: $4,120/yr
• Cap rate: 10.26%
• Cash-on-cash: 14.18%
• DSCR: 1.63
• 1% rule: 1.19%
• Cash to close: $34,692

Investor read

• This is a 4-bed/2.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• It's been on market 867 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($857 loan paydown + $3k appreciation (2.3% local appreciation)).
• Location reads 64/100 on livability (#173 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities 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.
• Watch-outs: flood insurance adds $66/mo; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 49 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.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $35k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 867 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.