511 Robert St · Franklin, LA 70538

$45,000

3 bd · 2.0 ba · 2,200 sqft · SingleFamily · 234 Days on market

0.27 ac lot $20/sqft · 58% below area ↓ 53% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home is being sold strictly as-is, where-is. The home was partially elevated but never completed by the previous contractor, rendering it unlivable and designated for demolition through a City of Franklin Demolition Grant/Program.The structure remains on a 0.27 +/- acre lot and includes original cypress wood framing and other solid building materials that may be salvageable or reusable.For safety reasons, no one is permitted to enter the structure.There will be no interior inspections, showings, or access granted due to the unstable condition and potential hazards.Buyer is responsible for verifying all information related to demolition, permitting, and coordination with the City of Franklin regarding the active demolition package or grant.Excellent opportunity for builders, investors, or contractors seeking a lot for new construction or potential material salvage.No warranties or representations are made by Seller or Broker as to the condition or usability of the structure or materials. Buyer to perform all due diligence prior to purchase.

Key facts

• 0.27 acre lot
• Parking
• Listed 233 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.3% vs local median 5.5% in Franklin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#107 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• St. Mary Parish (town): math 28% / reading 39% proficiency, ranked #37 of 98 in LA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 93 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 37 units permitted in St. Mary Parish in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($311 loan paydown + $1k appreciation (2.6% local appreciation)).
• St. Mary County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 4.44% ✓
• Cap rate: 41.26%
• Cash-on-cash: 124.89%
• DSCR: 6.56
• GRM: 1.9

CMA / ARV

• ARV (median comp): $105,879
• List price: $45,000
• Delta: -57.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Ida St	0.17mi	3/2.0	2,100 (-4%)	19mo	$119,000	$57	69
307 Adams St	0.58mi	3/2.0	2,312 (+5%)	5mo	$140,000	$61	60
900 Iberia St	0.40mi	3/2.5	2,320 (+6%)	14mo	$35,000	$15	58
107 Bayouview Dr	0.55mi	3/1.5	2,123 (-4%)	15mo	$80,000	$38	54
1119 Mary Lee St	0.52mi	4/2.0 (+1)	2,414 (+10%)	11mo	$165,000	$68	45
200 Sterling Rd	0.46mi	4/3.0 (+1)	1,902 (-14%)	24mo	$45,000	$24	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.56% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.98×
• Total profit: $87,896
• Equity at exit: $19,117

10-year hold

• IRR: —
• Equity multiple: 16.65×
• Total profit: $197,192
• Equity at exit: $28,621

Cash invested: $12,600 (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 70538

• Home prices YoY: 3.2%
• Active inventory: 93
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$14 /mo · $167/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $1,311

Break-even live

Break-even rent $340

Max offer price $45,000

Occupancy floor 29%

Sensitivity live

Price	-10% $1,337	-5% $1,324	+0% $1,311	+5% $1,299	+10% $1,286
Rent	-10% $1,153	-5% $1,232	+0% $1,311	+5% $1,390	+10% $1,469
Rate	-1.0pp $1,334	-0.5pp $1,323	base $1,311	+0.5pp $1,300	+1.0pp $1,288

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Morris St Franklin, LA	4.0	2.5	2920	$2,000	$0.68	22d	1	0.97mi
208 Morris St Franklin, LA	4.0	3.0	2920	$2,000	$0.68	45d	1	0.97mi

Listing history 23 events

1. 2026-06-21
   days on market $45,000 Active 234 DOM
2. 2026-06-21
   days on market $45,000 Active 233 DOM
3. 2026-06-18
   days on market $45,000 Active 231 DOM
4. 2026-06-17
   days on market $45,000 Active 230 DOM
5. 2026-06-16
   days on market $45,000 Active 229 DOM
6. 2026-06-15
   days on market $45,000 Active 228 DOM
7. 2026-06-13
   days on market $45,000 Active 226 DOM
8. 2026-06-12
   days on market $45,000 Active 225 DOM
9. 2026-06-09
   days on market $45,000 Active 222 DOM
10. 2026-06-08
    days on market $45,000 Active 221 DOM
11. 2026-06-07
    days on market $45,000 Active 220 DOM
12. 2026-06-07
    days on market $45,000 Active 219 DOM
13. 2026-06-04
    days on market $45,000 Active 216 DOM
14. 2026-06-02
    days on market $45,000 Active 215 DOM
15. 2026-06-01
    days on market $45,000 Active 214 DOM
16. 2026-05-31
    days on market $45,000 Active 213 DOM
17. 2026-05-31
    days on market $45,000 Active 212 DOM
18. 2026-04-11
    price $45,000 1055-char remark

    Show marketing remark (1055 chars)

    Home is being sold strictly as-is, where-is. The home was partially elevated but never completed by the previous contractor, rendering it unlivable and designated for demolition through a City of Franklin Demolition Grant/Program.The structure remains on a 0.27 +/- acre lot and includes original cypress wood framing and other solid building materials that may be salvageable or reusable.For safety reasons, no one is permitted to enter the structure.There will be no interior inspections, showings, or access granted due to the unstable condition and potential hazards.Buyer is responsible for verifying all information related to demolition, permitting, and coordination with the City of Franklin regarding the active demolition package or grant.Excellent opportunity for builders, investors, or contractors seeking a lot for new construction or potential material salvage.No warranties or representations are made by Seller or Broker as to the condition or usability of the structure or materials. Buyer to perform all due diligence prior to purchase.

19. 2026-01-15
    price $49,900 1055-char remark

    Show marketing remark (1055 chars)

    Home is being sold strictly as-is, where-is. The home was partially elevated but never completed by the previous contractor, rendering it unlivable and designated for demolition through a City of Franklin Demolition Grant/Program.The structure remains on a 0.27 +/- acre lot and includes original cypress wood framing and other solid building materials that may be salvageable or reusable.For safety reasons, no one is permitted to enter the structure.There will be no interior inspections, showings, or access granted due to the unstable condition and potential hazards.Buyer is responsible for verifying all information related to demolition, permitting, and coordination with the City of Franklin regarding the active demolition package or grant.Excellent opportunity for builders, investors, or contractors seeking a lot for new construction or potential material salvage.No warranties or representations are made by Seller or Broker as to the condition or usability of the structure or materials. Buyer to perform all due diligence prior to purchase.

20. 2025-12-03
    price $55,000 1055-char remark

    Show marketing remark (1055 chars)

    Home is being sold strictly as-is, where-is. The home was partially elevated but never completed by the previous contractor, rendering it unlivable and designated for demolition through a City of Franklin Demolition Grant/Program.The structure remains on a 0.27 +/- acre lot and includes original cypress wood framing and other solid building materials that may be salvageable or reusable.For safety reasons, no one is permitted to enter the structure.There will be no interior inspections, showings, or access granted due to the unstable condition and potential hazards.Buyer is responsible for verifying all information related to demolition, permitting, and coordination with the City of Franklin regarding the active demolition package or grant.Excellent opportunity for builders, investors, or contractors seeking a lot for new construction or potential material salvage.No warranties or representations are made by Seller or Broker as to the condition or usability of the structure or materials. Buyer to perform all due diligence prior to purchase.

21. 2025-10-30
    listed $60,000 Active 1055-char remark

    Show marketing remark (1055 chars)

    Home is being sold strictly as-is, where-is. The home was partially elevated but never completed by the previous contractor, rendering it unlivable and designated for demolition through a City of Franklin Demolition Grant/Program.The structure remains on a 0.27 +/- acre lot and includes original cypress wood framing and other solid building materials that may be salvageable or reusable.For safety reasons, no one is permitted to enter the structure.There will be no interior inspections, showings, or access granted due to the unstable condition and potential hazards.Buyer is responsible for verifying all information related to demolition, permitting, and coordination with the City of Franklin regarding the active demolition package or grant.Excellent opportunity for builders, investors, or contractors seeking a lot for new construction or potential material salvage.No warranties or representations are made by Seller or Broker as to the condition or usability of the structure or materials. Buyer to perform all due diligence prior to purchase.

22. 2005-03-04
    soldstatus $95,000
23. 2003-06-02
    soldstatus

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

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $167 · $14/mo
• Projected year-2 tax: $247 · $21/mo
• Expected delta: +$81/yr (+$7/mo · 48.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$2,521
• − Property taxes: −$167
• − Insurance: −$225
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$1,309
• Taxable income: $15,938
• Est. tax owed @ 24.0%: −$3,825
• After-tax cash flow: $11,911/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.

Schools (NCES district)

• District: St. Mary Parish
• NCES district ID: 2201620
• Math proficiency: 28% ▼ -40.00%
• Reading proficiency: 39% ▼ -33.00%
• Median HH income: $39,843
• Composite: 28.1/100
• National rank: #6828
• State rank: #37 of 98 in LA

Livability — Franklin

• Score: 67/100
• State rank: #107
• US rank: #10368

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Franklin, LA
• Population (ZIP): 12,561

Population outlook (St. Mary County) Hauer SSP2

• Today (2025): 49,510 people
• By 2030: 47,570 · -3.9%
• By 2040: 43,880 · -11.4%
• By 2050: 40,655 · -17.9%
• By 2075: 37,190 · -24.9%
• By 2100: 38,101 · -23.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 48% Black 41% Two or more races 7% Hispanic / Latino 5% Native American 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 1%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 4% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · St. Mary

• 2024 margin: Solid R (+31.9) · D 33.5% · R 65.4% · Other 1.0%
• 2008→2024 swing: -15.1pp toward R · 2008: -16.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+29.1 2016: R+27.6 2012: R+18.8 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.56%
• Current HPI: 82.9321
• 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

-52.6% since first listed

6 events — show timeline

• 2026-04-11 Price Changed $45,000 AcadianaMLS
• 2026-01-15 Price Changed $49,900 AcadianaMLS
• 2025-12-03 Price Changed $55,000 AcadianaMLS
• 2025-10-30 Listed $60,000 AcadianaMLS
• 2005-03-04 Sold (Public Records) $95,000 Public Records
• 2003-06-02 Sold (Public Records) — Public Records

Property tax history

-14.7%/yr

Latest (2025): $167 · +0.0% YoY. Source: county tax records.