59 Charmingdale Dr Unit 74 charmingdale, 3309 Polk,3401 Polk,3107 Jackson

Richwood, LA 71202

$199,000F

None bd · None ba · — sqft · Built — · Condo · Active · 466 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $725/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$332
• HOA: −$0
• Vac / Maint / Mgmt: −$152
• Net cashflow: $-802/mo
• Annual: $-9,630/yr
• Cap rate: 1.45%
• Cash-on-cash: -17.28%
• DSCR: 0.23
• 1% rule: 0.36%
• Cash to close: $55,720

Investor read

• This is a condo listed at $199k. Condition is rated fair.
• At list price, monthly cash flow is $-802 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (58.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $72k (63.6% below list).
• It's been on market 466 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (63.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#303 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.
• 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.
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; 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 466 days. Have you received any prior offers? Is the seller open to a 64% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of wear and discoloration suggest significant damage.
• Major: siding — Peeling paint and chipping paint indicate severe wear.
• Major: flooring — Visible wear and tear suggest the need for replacement.
• Major: interior walls/paint — Wear and tear suggest the need for repainting or replacement.
• Major: landscaping — Overgrown and low curb appeal suggest the need for landscaping improvements.
• Major: HVAC system — Old and possibly in need of maintenance or replacement.