3134 Highway 507 · Martin, LA 71019

$53,000

2 bd · 2.0 ba · 840 sqft · Manufactured · 59 Days on market

Built 1986 Fair condition 0.71 ac lot ↓ 9% since listing

---

Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0

Listing remarks MLS

Charming and affordable 2 bedroom, 2 bathroom home situated on .71 acres, offering just the right amount of space both inside and out. This cozy property is perfect for a first-time homebuyer, someone looking to downsize, or an excellent addition to an investment portfolio. Inside, you’ll find an open living area that flows into an eat-in kitchen featuring electric appliances and a comfortable dining space. The primary bedroom includes built-in cabinetry for added storage and an ensuite bathroom for convenience. Outside, the property offers a spacious yard with room to enjoy the outdoors, along with a small storage shed for tools or equipment. Whether you’re looking for a place to call home or a rental opportunity, this one checks the boxes for simplicity, functionality, and value.

Key facts

• Spacious yard
• Built-in cabinetry
• Open living area

Tags

• OPEN LIVING AREA
• EAT-IN KITCHEN
• BUILT-IN CABINETRY
• ENSUITE BATHROOM
• SPACIOUS YARD
• SMALL STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $53k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($906 rent vs $53k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#316 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Red River Parish (rural): math 15% / reading 23% proficiency, ranked #70 of 98 in LA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP; 5 units permitted in Red River Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($366 loan paydown + $2k appreciation (3.0% local appreciation)).
• Red River County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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.

Recommended offer $51,410 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.71% ✓
• Cap rate: 14.21%
• Cash-on-cash: 28.26%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.2%
• Equity multiple: 2.93×
• Total profit: $28,657
• Equity at exit: $23,831

10-year hold

• IRR: 34.4%
• Equity multiple: 5.77×
• Total profit: $70,849
• Equity at exit: $36,727

Cash invested: $14,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 71019

• Active inventory: 22
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $906 medium
• Mortgage (P&I): −$278
• Tax est. 1.5%: −$66 /mo · $795/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $349

Break-even live

Break-even rent $464

Max offer price $53,000

Occupancy floor 56%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $53,000 Active 59 DOM
2. 2026-06-17
   days on market $53,000 Active 58 DOM
3. 2026-06-16
   days on market $53,000 Active 57 DOM
4. 2026-06-15
   days on market $53,000 Active 56 DOM
5. 2026-06-14
   days on market $53,000 Active 54 DOM
6. 2026-06-13
   days on market $53,000 Active 53 DOM
7. 2026-06-10
   days on market $53,000 Active 51 DOM
8. 2026-06-09
   days on market $53,000 Active 50 DOM
9. 2026-06-08
   days on market $53,000 Active 49 DOM
10. 2026-06-07
    days on market $53,000 Active 48 DOM
11. 2026-06-02
    days on market $53,000 Active 43 DOM
12. 2026-06-01
    days on market $53,000 Active 42 DOM
13. 2026-05-31
    days on market $53,000 Active 41 DOM
14. 2026-05-30
    days on market $53,000 Active 40 DOM
15. 2026-05-06
    price $53,000 813-char remark

    Show marketing remark (813 chars)

    Charming and affordable 2 bedroom, 2 bathroom home situated on .71 acres, offering just the right amount of space both inside and out. This cozy property is perfect for a first-time homebuyer, someone looking to downsize, or an excellent addition to an investment portfolio. Inside, you’ll find an open living area that flows into an eat-in kitchen featuring electric appliances and a comfortable dining space. The primary bedroom includes built-in cabinetry for added storage and an ensuite bathroom for convenience. Outside, the property offers a spacious yard with room to enjoy the outdoors, along with a small storage shed for tools or equipment. Whether you’re looking for a place to call home or a rental opportunity, this one checks the boxes for simplicity, functionality, and value.

16. 2026-04-20
    listed $58,000 Active 794-char remark

    Show marketing remark (794 chars)

    Charming and affordable 2 bedroom, 2 bathroom home situated on .71 acres, offering just the right amount of space both inside and out. This cozy property offers a great opportunity as a primary residence, downsizing option, or an excellent addition to an investment portfolio. Inside, you'll find an open living area that flows into an eat-in kitchen featuring electric appliances and a comfortable dining space. The primary bedroom includes built-in cabinetry for added storage and an ensuite bathroom for convenience. Outside, the property offers a spacious yard with room to enjoy the outdoors, along with a small storage shed for tools or equipment. Whether you're looking for a place to call home or a rental opportunity, this one checks the boxes for simplicity, functionality, and value.

17. 2026-04-17
    listed $58,000 Active 813-char remark

    Show marketing remark (813 chars)

    Charming and affordable 2 bedroom, 2 bathroom home situated on .71 acres, offering just the right amount of space both inside and out. This cozy property is perfect for a first-time homebuyer, someone looking to downsize, or an excellent addition to an investment portfolio. Inside, you’ll find an open living area that flows into an eat-in kitchen featuring electric appliances and a comfortable dining space. The primary bedroom includes built-in cabinetry for added storage and an ensuite bathroom for convenience. Outside, the property offers a spacious yard with room to enjoy the outdoors, along with a small storage shed for tools or equipment. Whether you’re looking for a place to call home or a rental opportunity, this one checks the boxes for simplicity, functionality, and value.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°F today · 21 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,872
• − Mortgage interest: −$2,969
• − Property taxes: −$795
• − Insurance: −$265
• − Repairs & maintenance: −$870
• − Management: −$870
• − Depreciation: −$1,542
• Taxable income: $3,562
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $3,339/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This home requires significant repairs and updates to improve its condition and value. The kitchen and bathrooms need major updates, and the exterior siding and paint are in poor condition. Landscaping and yard trimming can also increase its value.

Repairs flagged

• Major Kitchen cabinets — The cabinets are outdated and in poor condition.
• Major Countertops — The countertops are worn and in need of replacement.
• Major Flooring — The flooring in the kitchen and bathrooms is worn and in need of replacement.
• Major Exterior siding — The siding is peeling and the exterior paint is faded.
• Major Exterior paint — The exterior paint is faded and in need of repainting.
• Major Landscaping — The landscaping is overgrown and the yard needs trimming.

Value-add opportunities

• Resale Painting the interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Resale Replacing the kitchen cabinets and countertops — New cabinets and countertops can greatly enhance the home's appeal and value.
• Rental Refrigerator and dishwasher — Upgrading to energy-efficient appliances can attract renters and increase rental income.
• Both Landscaping and yard trimming — A well-maintained yard and landscaping can increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are outdated and in poor condition.	Major	$15,000–50,000
Countertops · The countertops are worn and in need of replacement.	Major	$15,000–50,000
Flooring · The flooring in the kitchen and bathrooms is worn and in need of replacement.	Major	$15,000–50,000
Exterior siding · The siding is peeling and the exterior paint is faded.	Major	$15,000–50,000
Exterior paint · The exterior paint is faded and in need of repainting.	Major	$15,000–50,000
Landscaping · The landscaping is overgrown and the yard needs trimming.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Painting the interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Resale Replacing the kitchen cabinets and countertops — New cabinets and countertops can greatly enhance the home's appeal and value. ↑
• Rental Refrigerator and dishwasher — Upgrading to energy-efficient appliances can attract renters and increase rental income. ↑
• Both Landscaping and yard trimming — A well-maintained yard and landscaping can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Red River Parish
• NCES district ID: 2201320
• Math proficiency: 15% ▼ -31.00%
• Reading proficiency: 23% ▼ -25.00%
• Median HH income: $36,507
• Composite: 15.77/100
• National rank: #9275
• State rank: #70 of 98 in LA

Livability — Martin

• Score: 57/100
• State rank: #316
• US rank: #21577

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment B- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Martin, LA
• Population (ZIP): 7,366

Population outlook (Red River County) Hauer SSP2

• Today (2025): 7,829 people
• By 2030: 7,369 · -5.9%
• By 2040: 6,516 · -16.8%
• By 2050: 5,776 · -26.2%
• By 2075: 4,639 · -40.7%
• By 2100: 4,265 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (56%)
• Race & ethnicity: White 56% Black 40% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1% Serbian 1% Iranian 1%
• Foreign-born: 0% · Canada

Political lean MEDSL · Red River

• 2024 margin: Strong R (+27.3) · D 35.5% · R 62.7% · Other 1.8%
• 2008→2024 swing: -18.6pp toward R · 2008: -8.7pp · 2024: -27.3pp
• All cycles: 2024: R+27.3 2020: R+18.6 2016: R+10.2 2012: R+4.8 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

-8.6% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $53,000 NTREIS
• 2026-04-20 Listed $58,000 AcadianaMLS
• 2026-04-17 Listed $58,000 NTREIS