409 & 407 Walnut St Unit 1-4

Bunkie, LA 71322

$75,000D+

4 bd · 4.0 ba · 2,529 sqft · Built — · MultiFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,213/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$675
• Net cashflow: $2,020/mo
• Annual: $24,240/yr
• Cap rate: 38.61%
• Cash-on-cash: 115.43%
• DSCR: 6.14
• 1% rule: 4.28%
• Cash to close: $21,000

Investor read

• This is a 4-bed/4.0-bath multifamily listed at $75k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $75k).
• It's been on market 68 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($519 loan paydown + $1k appreciation (1.9% local appreciation)).
• Location reads 59/100 on livability (#267 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, amenities F, commute F.
• Avoyelles Parish (rural): math 22% / reading 30% proficiency, ranked #56 of 98 in LA (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bunkie Elementary School (math 22% / reading 27%, grade F, #384 of 646 statewide, top 62%, 356 students, 77% FRL); Bunkie Magnet High School (math 23% / reading 28%, grade F, #149 of 265 statewide, top 56%, 702 students, 52% FRL).
• Market conditions: 23 active listings in the ZIP; 15 units permitted in Avoyelles Parish in 2024 (0 in 5+ unit buildings).
• Avoyelles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding appears to be in fair condition, with some discoloration and wear.
• Major: flooring — The flooring in the interior appears to be in fair condition, with some wear and tear.
• Major: interior walls/paint — The interior walls and paint appear to be in fair condition, with some discoloration and wear.
• Major: HVAC and mechanical systems — The HVAC and mechanical systems appear to be in fair condition, with some wear and tear.