3134 Highway 507

Martin, LA 71019

$53,000B

2 bd · 2.0 ba · 840 sqft · Built 1986 · Manufactured · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $906/mo
• Mortgage (P&I): −$278
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $349/mo
• Annual: $4,194/yr
• Cap rate: 14.21%
• Cash-on-cash: 28.26%
• DSCR: 2.26
• 1% rule: 1.71%
• Cash to close: $14,840

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $53k. Condition is rated fair.
• 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).
• It's been on market 59 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($366 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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).
• Red River County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.
• 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• 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.