0 Pleasure Island Dr · Farmerville, LA 71241

$230,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 54 Days on market

Built 2015 0.79 ac lot $342/sqft · waterfront premium Est $292k · 21% under · waterfront

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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).

• ARV discount +15.0/15.0
• Cash flow +9.7/30.0
• Livability +2.9/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

RARE OPPORTUNITY on Lake D'Arbonne. This property has been owned by the same person since 2009 and can now be all yours. .. Featured property is the location of the old Lakeside Terrace park-site on Pleasure Island Rd. Waterfrontage on 2 sides, easy/quick lake access to the boat run, convenient to all things Lake D'Arbonne. Flat lot makes for easy walking, parking, and is ready to build your dream home right along the water's edge. If you, family, and friends prefer something less permanent, this would be an ideal spot to bring the campers, RV's, and water toys for those weekend and holiday getaways to the lake. .. Give us a call today, we'd love to show you around. ..

Key facts

• Lake front property
• Overlooking the lake
• Fully furnished

Tags

• LAKE FRONT PROPERTY
• FULLY FURNISHED
• CORNER LOT
• OVERLOOKING THE LAKE

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Utilities: Public water; No natural gas available
• Home design: Single family residence; Site-built; One and one-half level; Entry level: 1; Faces waterfront
• Construction: Metal siding; Metal roof; Slab foundation; Built with metal materials
• Exterior features: Lakefront property; Corner lot

Interior

• Kitchen: Refrigerator; Microwave; Electric range
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air; Ceiling fan cooling
• Interior features: Ceiling fans; Double pane windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $230k.

Deal economics

• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (34.3% below list).
• Recommended offer: $151k (34.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#321 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Union Parish (rural): math 12% / reading 20% proficiency, ranked #74 of 98 in LA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Union Parish Elementary School (math 4% / reading 8%, grade F, #630 of 646 statewide, top 98%, 659 students, 58% FRL); Union Parish High School (math 8% / reading 16%, grade F, #235 of 265 statewide, top 90%, 745 students, 52% FRL) — zoned schools average 55% FRL vs 76% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 111 active listings in the ZIP; 2 units permitted in Union Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Union County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,200 (34.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 12.7

CMA / ARV

• ARV (median comp): $292,229
• List price: $230,000
• Delta: -21.29%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-47,046
• Equity at exit: $34,294

10-year hold

• IRR: -14.7%
• Equity multiple: 0.16×
• Total profit: $-53,908
• Equity at exit: $19,886

Cash invested: $64,400 (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 71241

• Home prices YoY: -21.0%
• Active inventory: 111
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,512 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$44 /mo · $528/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-152

Break-even live

Break-even rent $1,704

Max offer price $203,236

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-86	+0% $-152	+5% $-217	+10% $-282
Rent	-10% $-271	-5% $-211	+0% $-152	+5% $-92	+10% $-32
Rate	-1.0pp $-36	-0.5pp $-93	base $-152	+0.5pp $-211	+1.0pp $-272

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $230,000 Active 54 DOM
2. 2026-06-19
   days on market $230,000 Active 52 DOM
3. 2026-06-18
   days on market $230,000 Active 51 DOM
4. 2026-06-17
   days on market $230,000 Active 50 DOM
5. 2026-06-16
   days on market $230,000 Active 49 DOM
6. 2026-06-15
   days on market $230,000 Active 48 DOM
7. 2026-06-14
   days on market $230,000 Active 46 DOM
8. 2026-06-13
   days on market $230,000 Active 45 DOM
9. 2026-06-10
   days on market $230,000 Active 43 DOM
10. 2026-06-09
    days on market $230,000 Active 42 DOM
11. 2026-06-08
    days on market $230,000 Active 41 DOM
12. 2026-06-07
    days on market $230,000 Active 40 DOM
13. 2026-06-05
    days on market $230,000 Active 37 DOM
14. 2026-06-02
    days on market $230,000 Active 35 DOM
15. 2026-06-01
    days on market $230,000 Active 34 DOM
16. 2026-05-31
    days on market $230,000 Active 33 DOM
17. 2026-05-30
    days on market $230,000 Active 32 DOM
18. 2026-04-28
    listed $230,000 Active 449-char remark
19. 2025-09-03
    soldstatus Closed 677-char remark

    Show marketing remark (677 chars)

    RARE OPPORTUNITY on Lake D'Arbonne. This property has been owned by the same person since 2009 and can now be all yours. .. Featured property is the location of the old Lakeside Terrace park-site on Pleasure Island Rd. Waterfrontage on 2 sides, easy/quick lake access to the boat run, convenient to all things Lake D'Arbonne. Flat lot makes for easy walking, parking, and is ready to build your dream home right along the water's edge. If you, family, and friends prefer something less permanent, this would be an ideal spot to bring the campers, RV's, and water toys for those weekend and holiday getaways to the lake. .. Give us a call today, we'd love to show you around. ..

20. 2025-05-27
    status Pending 677-char remark

    Show marketing remark (677 chars)

    RARE OPPORTUNITY on Lake D'Arbonne. This property has been owned by the same person since 2009 and can now be all yours. .. Featured property is the location of the old Lakeside Terrace park-site on Pleasure Island Rd. Waterfrontage on 2 sides, easy/quick lake access to the boat run, convenient to all things Lake D'Arbonne. Flat lot makes for easy walking, parking, and is ready to build your dream home right along the water's edge. If you, family, and friends prefer something less permanent, this would be an ideal spot to bring the campers, RV's, and water toys for those weekend and holiday getaways to the lake. .. Give us a call today, we'd love to show you around. ..

21. 2025-05-20
    listed $149,900 Active 677-char remark

    Show marketing remark (677 chars)

    RARE OPPORTUNITY on Lake D'Arbonne. This property has been owned by the same person since 2009 and can now be all yours. .. Featured property is the location of the old Lakeside Terrace park-site on Pleasure Island Rd. Waterfrontage on 2 sides, easy/quick lake access to the boat run, convenient to all things Lake D'Arbonne. Flat lot makes for easy walking, parking, and is ready to build your dream home right along the water's edge. If you, family, and friends prefer something less permanent, this would be an ideal spot to bring the campers, RV's, and water toys for those weekend and holiday getaways to the lake. .. Give us a call today, we'd love to show you around. ..

22. 2016-02-26
    listed $125,000
23. 2010-11-29
    listed $79,500
24. 2010-04-13
    listed $83,900
25. 2001-01-25
    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: $528 · $44/mo
• Projected year-2 tax: $1,265 · $105/mo
• Expected delta: +$737/yr (+$61/mo · 139.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $18,144
• − Mortgage interest: −$12,884
• − Property taxes: −$528
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$6,691
• Taxable loss: −$6,012
• Est. tax savings @ 24.0%: +$1,443
• After-tax cash flow: $-375/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: Union Parish
• NCES district ID: 2201770
• Math proficiency: 12% ▼ -37.00%
• Reading proficiency: 20% ▼ -34.00%
• Median HH income: $37,279
• Composite: 13.35/100
• National rank: #9537
• State rank: #74 of 98 in LA

Livability — Farmerville

• Score: 57/100
• State rank: #321
• US rank: #21826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,773

Population outlook (Union County) Hauer SSP2

• Today (2025): 21,722 people
• By 2030: 21,226 · -2.3%
• By 2040: 20,026 · -7.8%
• By 2050: 18,682 · -14.0%
• By 2075: 15,725 · -27.6%
• By 2100: 12,509 · -42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 26% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+57.0) · D 21.1% · R 78.0%
• 2008→2024 swing: -15.4pp toward R · 2008: -41.5pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+51.4 2016: R+48.5 2012: R+41.7 2008: R+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.85%
• Current HPI: 169.0449
• 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

+174.1% since first listed

8 events — show timeline

• 2026-04-28 Listed $230,000 NELABOR
• 2025-09-03 Sold (MLS) — NELABOR
• 2025-05-27 Pending — NELABOR
• 2025-05-20 Listed $149,900 NELABOR
• 2016-02-26 Listed $125,000 NELABOR
• 2010-11-29 Listed $79,500 NELABOR
• 2010-04-13 Listed $83,900 NELABOR
• 2001-01-25 Sold (Public Records) — Public Records

Property tax history

+3.3%/yr

Latest (2025): $528 · +0.0% YoY. Source: county tax records.