104 Garrett Rd · Farmerville, LA 71241

$168,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 48 Days on market

Built 1990 0.93 ac lot $171/sqft · 24% below area Est $222k · 24% under

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Start making memories on Lake D’Arbonne at your fully furnished lake house with 3 bedrooms/1 bath on . 93 acres! Enjoy the outdoors, relaxing on one of 2 covered wood decks or get to boating and fishing from your boathouse and pier - all for just $150,000!!

Key facts

• Lakefront property
• New waterlines
• New vinyl floors

Tags

• LAKEFRONT PROPERTY
• UPDATED BATHROOM REMODEL
• NEW VINYL FLOORS
• NEW CABINETS
• NEW SINKS
• NEW WATERLINES

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Natural gas available
• Home design: Single-family residence; Site-built; One-story home; Entry level: 1
• Construction: Vinyl siding and log construction; Metal roof; Pillar/post/pier foundation; Built on a 0.93-acre lot
• Exterior features: Covered patio/porch; Waterfront lot with lake frontage; Boat house

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Central heating and cooling; Electric heating; Heat pump; Ceiling fans
• Interior features: Ceiling fans throughout; Double-pane windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $163k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.6% in Farmerville — 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 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.
• 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Recommended offer $162,960 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (median comp): $221,583
• List price: $168,000
• Delta: -24.18%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $49
• Equity at exit: $25,049

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $35,052
• Equity at exit: $14,526

Cash invested: $47,040 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,874 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$101 /mo · $1,212/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $429

Break-even live

Break-even rent $1,332

Max offer price $168,000

Occupancy floor 72%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-17
   status $168,000 Pending 48 DOM
2. 2026-06-17
   days on market $168,000 Active 48 DOM
3. 2026-06-16
   days on market $168,000 Active 47 DOM
4. 2026-06-15
   days on market $168,000 Active 46 DOM
5. 2026-06-14
   days on market $168,000 Active 44 DOM
6. 2026-06-13
   days on market $168,000 Active 43 DOM
7. 2026-06-10
   days on market $168,000 Active 41 DOM
8. 2026-06-09
   days on market $168,000 Active 40 DOM
9. 2026-06-08
   days on market $168,000 Active 39 DOM
10. 2026-06-07
    days on market $168,000 Active 38 DOM
11. 2026-06-05
    days on market $168,000 Active 35 DOM
12. 2026-06-02
    days on market $168,000 Active 33 DOM
13. 2026-06-01
    days on market $168,000 Active 32 DOM
14. 2026-05-31
    days on market $168,000 Active 31 DOM
15. 2026-05-30
    days on market $168,000 Active 30 DOM
16. 2026-04-30
    listed $175,000 Active 1093-char remark
17. 2021-10-20
    soldstatus 263-char remark

    Show marketing remark (263 chars)

    Start making memories on Lake D’Arbonne at your fully furnished lake house with 3 bedrooms/1 bath on . 93 acres! Enjoy the outdoors, relaxing on one of 2 covered wood decks or get to boating and fishing from your boathouse and pier - all for just $150,000!!

18. 2021-08-06
    listed $150,000 263-char remark

    Show marketing remark (263 chars)

    Start making memories on Lake D’Arbonne at your fully furnished lake house with 3 bedrooms/1 bath on . 93 acres! Enjoy the outdoors, relaxing on one of 2 covered wood decks or get to boating and fishing from your boathouse and pier - all for just $150,000!!

19. 2005-02-23
    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: $1,212 · $101/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $22,494
• − Mortgage interest: −$9,411
• − Property taxes: −$1,212
• − Insurance: −$840
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$4,887
• Taxable income: $2,545
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $4,535/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

+12.0% since first listed

6 events — show timeline

• 2026-06-17 Pending — NELABOR
• 2026-05-29 Price Changed $168,000 NELABOR
• 2026-04-30 Listed $175,000 NELABOR
• 2021-10-20 Sold (MLS) — NELABOR
• 2021-08-06 Listed $150,000 NELABOR
• 2005-02-23 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,212 · +0.0% YoY. Source: county tax records.