308 Main St

Lacassine, LA 70650

$120,000C-

2 bd · 1.0 ba · 1,300 sqft · Built 1960 · SingleFamily · Pending · 266 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,043/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-5/mo
• Annual: $-66/yr
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $33,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $120k. Condition is rated fair.
• At list price, monthly cash flow is $-5 ($-66/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (13.1% below list).
• It's been on market 266 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (13.1% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 45/100 on livability (#453 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, schools A-; Watch: amenities F, commute F, employment F.
• Jefferson Davis Parish (town): math 30% / reading 42% proficiency, ranked #33 of 98 in LA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 69 units permitted in Jefferson Davis Parish in 2024 (0 in 5+ unit buildings).
• Jefferson Davis County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% 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.

Questions for listing agent

• 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?
• It's been on market 266 days. Have you received any prior offers? Is the seller open to a 13% 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?
• Built in 1960 — 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: bathroom vanity — dated and in need of replacement
• Moderate: landscaping — some overgrown areas