607 N Spruce St

Vidalia, LA 71373

$24,000C-

2 bd · 1.0 ba · 1,460 sqft · Built 1942 · SingleFamily · Active · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,091/mo
• Mortgage (P&I): −$126
• Tax + insurance: −$30
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $706/mo
• Annual: $8,474/yr
• Cap rate: 41.60%
• Cash-on-cash: 126.10%
• DSCR: 6.61
• 1% rule: 4.55%
• Cash to close: $6,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $24k.
• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• It's been on market 73 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($166 loan paydown + $2k appreciation (7.0% local appreciation)).
• Location reads 66/100 on livability (#123 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D-, amenities F.
• Concordia Parish (town): math 19% / reading 27% proficiency, ranked #65 of 98 in LA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 27 units permitted in Concordia Parish in 2024 (0 in 5+ unit buildings).
• Concordia County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 92% chance of damaging wind over 30y; extreme-heat days projected 7→20/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 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Crime grade is D 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.
• 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.