269 Cole Rd

Merryville, LA 70653

$210,000D

3 bd · 2.0 ba · 2,304 sqft · Built 2015 · SingleFamily · Pending · 274 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,307/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$231
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $-300/mo
• Annual: $-3,598/yr
• Cap rate: 4.58%
• Cash-on-cash: -6.12%
• DSCR: 0.73
• 1% rule: 0.62%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (25.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (37.8% below list).
• It's been on market 274 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (37.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#196 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: amenities F, commute F, employment F.
• Beauregard Parish (rural): math 30% / reading 41% proficiency, ranked #32 of 98 in LA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 active listings in the ZIP; 83 units permitted in Beauregard Parish in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 7y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 274 days. Have you received any prior offers? Is the seller open to a 38% 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.
• 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.