61 Littleton Rd

Oak Ridge, LA 71269

$139,000B-

3 bd · 2.0 ba · 1,654 sqft · Built 2006 · Manufactured · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,134/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$448
• Net cashflow: $854/mo
• Annual: $10,251/yr
• Cap rate: 13.67%
• Cash-on-cash: 26.34%
• DSCR: 2.17
• 1% rule: 1.54%
• Cash to close: $38,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $139k.
• At list price, monthly cash flow is $854 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• It's been on market 98 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#359 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools C-, health & safety D, amenities F.
• Richland Parish (rural): math 12% / reading 22% proficiency, ranked #73 of 98 in LA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 100 active listings in the ZIP; 27 units permitted in Richland Parish in 2024 (0 in 5+ unit buildings).
• Richland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→18/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 98 days. Have you received any prior offers? Is the seller open to a 9% 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.
• 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.