37500 Walker North Rd · Walker, LA 70785

$500,000

None bd · None ba · 11,000 sqft · MultiFamily · 1 Days on market

Poor condition 3.70 ac lot ↓ 17% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Amazing Mobile Home Park that Includes 9 Mobile Homes! Serenity Estates, such a peaceful place with plenty of shade trees & homes that are well-spaced out. A great investment property. All, but one, of the mobile homes have 3 bedrooms & all are occupied with rent ranging from $830 - $950 per month. Great schools nearby! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did NOT Flood in August 2016. Call for your showing today!

Key facts

• 3.7 acre lot
• 9 parking spots

What this means for you Summary

Snapshot

• This is a multifamily listed at $500k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $500k).
• Cap rate 25.2% vs local median 4.8% in Walker — 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 75/100 on livability (#19 in LA, #3,999 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Livingston Parish (suburban): math 40% / reading 52% proficiency, ranked #13 of 98 in LA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 253 active listings in the ZIP; solid renter incomes; 794 units permitted in Livingston Parish in 2024 (99 in 5+ unit buildings).
• At $14,360/mo this rent would consume 193% of the median local household income ($89k/yr) (locally 343% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Livingston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $140k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $500,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.87% ✓
• Cap rate: 25.23%
• Cash-on-cash: 67.62%
• DSCR: 4.01
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 63.1%
• Equity multiple: 3.82×
• Total profit: $394,746
• Equity at exit: $74,552

10-year hold

• IRR: 67.6%
• Equity multiple: 7.84×
• Total profit: $957,693
• Equity at exit: $43,231

Cash invested: $140,000 (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 70785

• Home prices YoY: -34.0%
• Active inventory: 253
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $14,360 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,016
• Net cashflow: $7,462

Break-even live

Break-even rent $4,914

Max offer price $500,000

Occupancy floor 43%

9-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 9× units	3	1	$14,364
Total (9 units)			$14,360

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-21
   status Pending
2. 2026-04-20
   listed $500,000 Active

   Show marketing remark (514 chars)

   Amazing Mobile Home Park that Includes 9 Mobile Homes! Serenity Estates, such a peaceful place with plenty of shade trees & homes that are well-spaced out. A great investment property. All, but one, of the mobile homes have 3 bedrooms & all are occupied with rent ranging from $830 - $950 per month. Great schools nearby! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did NOT Flood in August 2016. Call for your showing today!

3. 2026-04-20
   listed $500,000 514-char remark

   Show marketing remark (514 chars)

   Amazing Mobile Home Park that Includes 9 Mobile Homes! Serenity Estates, such a peaceful place with plenty of shade trees & homes that are well-spaced out. A great investment property. All, but one, of the mobile homes have 3 bedrooms & all are occupied with rent ranging from $830 - $950 per month. Great schools nearby! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did NOT Flood in August 2016. Call for your showing today!

4. 2018-09-07
   status Pending 576-char remark

   Show marketing remark (576 chars)

   Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

5. 2018-09-07
   soldstatus Sold 576-char remark

   Show marketing remark (576 chars)

   Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

6. 2018-09-01
   price $575,000 576-char remark

   Show marketing remark (576 chars)

   Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

7. 2018-08-31
   status Active 576-char remark

   Show marketing remark (576 chars)

   Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

8. 2018-06-29
   status Pending 576-char remark

   Show marketing remark (576 chars)

   Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

9. 2018-03-22
   listed $600,000 Active 576-char remark

   Show marketing remark (576 chars)

   Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

10. 2018-03-22
    listed $575,000

    Show marketing remark (576 chars)

    Serenity estates is properly named! Amazing mobile home park on Walker N. RD includes 9 mobile homes. All but one have 3 bedrooms. 100% occupied with rents ranging between $875-1000/month. Mobile homes are updated and gorgeous! Very well maintained. Although more homes are allowed, they are currently well spaced out amongst shaded trees which gives it a very peaceful feeling! Great nearby schools, amazing investment! Please do not disturb tenants. The addresses of the units are: 37480, 37486, 37490, 37524, 37514, 37510, 37520, 37522, 37500. Did not FLood in August 2016.

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $172,320
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$7,618
• − Repairs & maintenance: −$13,786
• − Management: −$13,786
• − Depreciation: −$14,545
• Taxable income: $87,077
• Est. tax owed @ 24.0%: −$20,898
• After-tax cash flow: $68,651/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.

Condition & rehab AI · 6 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and improvements to its exterior, roof, HVAC, and landscaping. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major roof — Significant wear and potential leaks indicate a major repair is needed.
• Major exterior road — The road shows significant cracks and uneven surfaces, requiring major repairs.
• Major landscaping — The landscaping is sparse and unkempt, requiring major improvements.
• Major HVAC/mechanicals — The systems appear outdated and in need of repair or replacement.

Value-add opportunities

• Both repair and replace roof — A new roof will improve the home's appearance and functionality, attracting more buyers and renters.
• Both repair and replace HVAC/mechanicals — Upgrading the HVAC and mechanical systems will improve the home's comfort and energy efficiency, attracting more buyers and renters.
• Both landscaping and exterior improvements — Aesthetic improvements will enhance the home's curb appeal and attract more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and potential leaks indicate a major repair is needed.	Major	$15,000–50,000
exterior road · The road shows significant cracks and uneven surfaces, requiring major repairs.	Major	$15,000–50,000
landscaping · The landscaping is sparse and unkempt, requiring major improvements.	Major	$15,000–50,000
HVAC/mechanicals · The systems appear outdated and in need of repair or replacement.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both repair and replace roof — A new roof will improve the home's appearance and functionality, attracting more buyers and renters. ↑
• Both repair and replace HVAC/mechanicals — Upgrading the HVAC and mechanical systems will improve the home's comfort and energy efficiency, attracting more buyers and renters. ↑
• Both landscaping and exterior improvements — Aesthetic improvements will enhance the home's curb appeal and attract more buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Livingston Parish
• NCES district ID: 2201020
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 52% ▼ -32.00%
• Median HH income: $56,755
• Composite: 40.07/100
• National rank: #3811
• State rank: #13 of 98 in LA

Livability — Walker

• Score: 75/100
• State rank: #19
• US rank: #3999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, LA
• County: Livingston Parish · 87,496 people
• City population: 23,921
• Metro: Baton Rouge, LA
• Population (ZIP): 23,921
• Household income: $89,103
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 343.0

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 158,511 people
• By 2030: 168,241 · +6.1%
• By 2040: 186,252 · +17.5%
• By 2050: 201,516 · +27.1%
• By 2075: 231,217 · +45.9%
• By 2100: 241,697 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 10% Italian 2% Slovak 2%
• Foreign-born: 2% · Canada, China, Vietnam
• Languages at home: 97% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · Livingston

• 2024 margin: Solid R (+68.5) · D 15.1% · R 83.6% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -71.9pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+70.0 2016: R+72.5 2012: R+70.4 2008: R+71.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.92%
• Current HPI: 164.6373
• Rent YoY: —
• Metro: Baton Rouge, LA
• 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

-16.7% since first listed

10 events — show timeline

• 2026-04-21 Pending — GBRMLS
• 2026-04-20 Listed $500,000 AcadianaMLS
• 2026-04-20 Listed $500,000 GBRMLS
• 2018-09-07 Pending — GBRMLS
• 2018-09-07 Sold (MLS) — GBRMLS
• 2018-09-01 Price Changed $575,000 GBRMLS
• 2018-08-31 Relisted — GBRMLS
• 2018-06-29 Pending — GBRMLS
• 2018-03-22 Listed $575,000 AcadianaMLS
• 2018-03-22 Listed $600,000 GBRMLS