119 Sandy Ridge Rd

Eros, LA 71238

$188,000F

4 bd · 2.0 ba · 2,128 sqft · Built 2002 · Manufactured · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $972/mo
• Mortgage (P&I): −$986
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $-331/mo
• Annual: $-3,971/yr
• Cap rate: 4.18%
• Cash-on-cash: -7.54%
• DSCR: 0.66
• 1% rule: 0.52%
• Cash to close: $52,640

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $188k.
• At list price, monthly cash flow is $-331 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (31.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (48.3% below list).
• It's been on market 34 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (48.3% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.2% local appreciation)).
• Location reads 50/100 on livability (#424 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, crime F, amenities F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Calhoun Elementary School (519 students, 57% FRL); Calhoun Middle School (math 36% / reading 52%, grade D, #51 of 218 statewide, top 24%, 491 students, 57% FRL); West Ouachita High School (math 36% / reading 47%, grade F, #71 of 265 statewide, top 27%, 1,080 students, 54% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 32 active listings in the ZIP; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• 2 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.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; moderate wildfire risk; 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 34 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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?
• 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.
• 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.