741 Wheeler Rd

Marion, LA 71260

$110,000C

4 bd · 4.0 ba · 7,995 sqft · Built 1980 · SingleFamily · Active · 116 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,256/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$279
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $136/mo
• Annual: $1,634/yr
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• 1% rule: 1.14%
• Cash to close: $30,800

Investor read

• This is a 4-bed/4.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 116 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($761 loan paydown + $3k appreciation (3.1% local appreciation)).
• Location reads 55/100 on livability (#355 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, crime 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.
• Watch-outs: property tax is 2.5% of price.
• Market conditions: 16 active listings in the ZIP; 2 units permitted in Union Parish in 2024 (0 in 5+ unit buildings).
• Union County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $79k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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.