609 N Lee St

Marksville, LA 71351

$143,500D+

3 bd · 1.0 ba · 1,408 sqft · Built 2004 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,152/mo
• Mortgage (P&I): −$753
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $41/mo
• Annual: $490/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• 1% rule: 0.80%
• Cash to close: $40,180

Investor read

• This is a 3-bed/1.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $41 ($490/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 $115k (19.8% below list).
• It's been on market 57 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (19.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $992 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#415 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, schools D, crime F.
• Avoyelles Parish (rural): math 22% / reading 30% proficiency, ranked #56 of 98 in LA (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 75 active listings in the ZIP; 15 units permitted in Avoyelles Parish in 2024 (0 in 5+ unit buildings).
• Avoyelles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $118k; 22% 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; extreme-heat days projected 7→19/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 57 days. Have you received any prior offers? Is the seller open to a 20% 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.