491 Jeter St

Zwolle, LA 71486

$110,000D+

3 bd · 2.0 ba · 1,216 sqft · Built 1979 · Manufactured · Active · 595 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $895/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$188
• Net cashflow: $12/mo
• Annual: $147/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• 1% rule: 0.81%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $12 ($147/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 $89k (18.6% below list).
• It's been on market 595 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (18.6% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($761 loan paydown + $786 appreciation (0.7% local appreciation)).
• Location reads 63/100 on livability (#198 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A-, housing B+; Watch: amenities F, commute F, employment F.
• Sabine Parish (rural): math 27% / reading 39% proficiency, ranked #40 of 98 in LA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 49 units permitted in Sabine Parish in 2024 (0 in 5+ unit buildings).
• Sabine County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→22/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 595 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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.
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?