1075 Percy Rd

Parks, LA 70582

$164,900D+

4 bd · 2.0 ba · 1,768 sqft · Built 2017 · Manufactured · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,440/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $128/mo
• Annual: $1,540/yr
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• 1% rule: 0.87%
• Cash to close: $46,172

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $165k.
• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (12.7% below list).
• It's been on market 43 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $144k (12.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#182 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment C-, schools D-, crime F.
• St. Martin Parish (rural): math 23% / reading 32% proficiency, ranked #49 of 98 in LA (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 125 active listings in the ZIP; 54 units permitted in St. Martin Parish in 2024 (0 in 5+ unit buildings).
• St. Martin County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 2.6% in Parks — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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 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?
• 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.
• 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.