147 Circle Dr · Farmerville, LA 71241

$225,000

2 bd · 2.0 ba · 1,350 sqft · SingleFamily public records · 259 Days on market

Built 1981 0.38 ac lot $167/sqft · 42% above area Est $216k · at est. ↓ 9% since listing

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Why this score? — see what drove the D+ 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 +20.4/30.0
• DSCR +6.5/10.0
• ARV discount +5.7/15.0
• 1% rule +4.1/10.0
• 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

LODGE-LIKE LIVING ON LAKE D’ARBONNE! This one-of-a-kind home offers 2 bedrooms, 2 full baths located just 240' from beautiful Lake D’Arbonne and is the perfect place to enjoy the lake life. Situated on two lots with a scenic view of the lake, this open-floor plan home features a spacious living room with a soaring, vaulted wood ceiling; a massive, flagstone wood-burning fireplace; built-in hutch cabinets; two walk-in closets; and easy access to the screened porch or open balcony deck. Just off of the living room is the comfy kitchen with lots of cabinets and a breakfast bar. The huge Master Bedroom Suite is located upstairs and offers two closets, as well as double sinks, tub/shower combo, and a laundry chute. There’s also a second bedroom located downstairs just across from the large utility room that features plenty of storage. There’s a single-car garage in the basement that also has a spacious bonus room. Outside offers so many amenities! The screened porch and expansive open balcony deck is perfect for gathering with family and friends or simply enjoying your morning coffee. There’s also a covered patio with ceiling fans around one side and the rear of the home. You’ll find several storage buildings on the property, as well as a 26' x 18' workshop. Want more? There’s also a boathouse with electric and water sitting on the lake. Talk about being a stone’s throw from some of the greatest fishing and recreational activities around this area! This home is more than just a house - it’s a lifestyle. Schedule your personal tour today!

Key facts

• Lake view
• Covered patio
• Storage buildings

Tags

• LAKE VIEW
• SCREENED PORCH
• OPEN BALCONY DECK
• COVERED PATIO
• STORAGE BUILDINGS
• WORKSHOP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (9.0% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.4% 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.
• Zoned schools: Union Parish Elementary School (math 4% / reading 8%, grade F, #630 of 646 statewide, top 98%, 659 students, 58% FRL); Union Parish High School (math 8% / reading 16%, grade F, #235 of 265 statewide, top 90%, 745 students, 52% FRL) — zoned schools average 55% FRL vs 76% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.91% ✗
• Cap rate: 7.84%
• Cash-on-cash: 5.54%
• DSCR: 1.25
• GRM: 9.2

CMA / ARV

• ARV (median comp): $216,466
• List price: $225,000
• Delta: 3.94%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-18,050
• Equity at exit: $33,548

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $7,685
• Equity at exit: $19,454

Cash invested: $63,000 (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 71241

• Home prices YoY: -21.0%
• Active inventory: 111
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,048 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$54 /mo · $642/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $291

Break-even live

Break-even rent $1,680

Max offer price $225,000

Occupancy floor 81%

Sensitivity live

Price	-10% $418	-5% $354	+0% $291	+5% $227	+10% $163
Rent	-10% $129	-5% $210	+0% $291	+5% $372	+10% $453
Rate	-1.0pp $404	-0.5pp $348	base $291	+0.5pp $232	+1.0pp $173

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-15
   status $225,000 Pending 259 DOM
2. 2026-06-15
   days on market $225,000 Active 259 DOM
3. 2026-06-14
   days on market $225,000 Active 257 DOM
4. 2026-06-13
   days on market $225,000 Active 256 DOM
5. 2026-06-10
   days on market $225,000 Active 254 DOM
6. 2026-06-09
   days on market $225,000 Active 253 DOM
7. 2026-06-08
   days on market $225,000 Active 252 DOM
8. 2026-06-07
   days on market $225,000 Active 251 DOM
9. 2026-06-05
   days on market $225,000 Active 248 DOM
10. 2026-06-03
    price $225,000 Active 246 DOM
11. 2026-06-02
    days on market $254,000 Active 246 DOM
12. 2026-06-01
    days on market $254,000 Active 245 DOM
13. 2026-05-31
    days on market $254,000 Active 244 DOM
14. 2026-05-30
    days on market $254,000 Active 243 DOM
15. 2026-01-13
    price $254,000 1612-char remark

    Show marketing remark (1612 chars)

    LODGE-LIKE LIVING ON LAKE D’ARBONNE! This one-of-a-kind home offers 2 bedrooms, 2 full baths located just 240' from beautiful Lake D’Arbonne and is the perfect place to enjoy the lake life. Situated on two lots with a scenic view of the lake, this open-floor plan home features a spacious living room with a soaring, vaulted wood ceiling; a massive, flagstone wood-burning fireplace; built-in hutch cabinets; two walk-in closets; and easy access to the screened porch or open balcony deck. Just off of the living room is the comfy kitchen with lots of cabinets and a breakfast bar. The huge Master Bedroom Suite is located upstairs and offers two closets, as well as double sinks, tub/shower combo, and a laundry chute. There’s also a second bedroom located downstairs just across from the large utility room that features plenty of storage. There’s a single-car garage in the basement that also has a spacious bonus room. Outside offers so many amenities! The screened porch and expansive open balcony deck is perfect for gathering with family and friends or simply enjoying your morning coffee. There’s also a covered patio with ceiling fans around one side and the rear of the home. You’ll find several storage buildings on the property, as well as a 26' x 18' workshop. Want more? There’s also a boathouse with electric and water sitting on the lake. Talk about being a stone’s throw from some of the greatest fishing and recreational activities around this area! This home is more than just a house - it’s a lifestyle. Schedule your personal tour today!

16. 2025-09-29
    listed $280,000 Active 1612-char remark

    Show marketing remark (1612 chars)

    LODGE-LIKE LIVING ON LAKE D’ARBONNE! This one-of-a-kind home offers 2 bedrooms, 2 full baths located just 240' from beautiful Lake D’Arbonne and is the perfect place to enjoy the lake life. Situated on two lots with a scenic view of the lake, this open-floor plan home features a spacious living room with a soaring, vaulted wood ceiling; a massive, flagstone wood-burning fireplace; built-in hutch cabinets; two walk-in closets; and easy access to the screened porch or open balcony deck. Just off of the living room is the comfy kitchen with lots of cabinets and a breakfast bar. The huge Master Bedroom Suite is located upstairs and offers two closets, as well as double sinks, tub/shower combo, and a laundry chute. There’s also a second bedroom located downstairs just across from the large utility room that features plenty of storage. There’s a single-car garage in the basement that also has a spacious bonus room. Outside offers so many amenities! The screened porch and expansive open balcony deck is perfect for gathering with family and friends or simply enjoying your morning coffee. There’s also a covered patio with ceiling fans around one side and the rear of the home. You’ll find several storage buildings on the property, as well as a 26' x 18' workshop. Want more? There’s also a boathouse with electric and water sitting on the lake. Talk about being a stone’s throw from some of the greatest fishing and recreational activities around this area! This home is more than just a house - it’s a lifestyle. Schedule your personal tour today!

ⓘ 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: $642 · $54/mo
• Projected year-2 tax: $1,238 · $103/mo
• Expected delta: +$595/yr (+$50/mo · 92.7%)

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

Taxation est. · year 1

• Rental income: $24,577
• − Mortgage interest: −$12,603
• − Property taxes: −$642
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$6,545
• Taxable loss: −$272
• Est. tax savings @ 24.0%: +$65
• After-tax cash flow: $3,554/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

-9.3% since first listed

2 events — show timeline

• 2026-01-13 Price Changed $254,000 NELABOR
• 2025-09-29 Listed $280,000 NELABOR

Property tax history

+1.4%/yr

Latest (2025): $642 · +0.0% YoY. Source: county tax records.