47763 Joby Magee Rd · Franklinton, LA 70438

$69,000

3 bd · 2.0 ba · 980 sqft · Manufactured · 44 Days on market

Built 1980 2.00 ac lot Est $69k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.2/15.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Mobile home and 2 acres located on Joby Magee Road in Franklinton, LA. Great find here with a 14X70 older mobile home that has been nicely refreshed on the interior, giving it a southern charm that matches the rural setting the property is situated in. The mobile home has 3 bedrooms and 2 baths, with a nice little back porch that overlooks the rear portion of the yard. Settled in the side yard is a really nice 20x30 slab shop that will fit all your toy storage needs. This all is situated on a beautiful 2.7-acre lot that has been underbrush and manicured well. The land has a nice pond with its own well to keep it full during the hot summer months (well needs a new pump). The site offers anot

Key facts

• Pond
• Well
• 2 acres

Tags

• 2 ACRES
• BACK PORCH
• 20X30 SLAB SHOP
• POND
• WELL

Property features AI

Exterior

• Parking: Circular driveway; No garage
• Utilities: Septic tank; Private well water; Electricity available
• Home design: Mobile home / Modular home; One level; Move-in ready
• Construction: Metal siding; Aluminum roof; Rubber roof
• Exterior features: Porch; Workshop; Level, open lot

Interior

• Kitchen: Electric cooktop; Water heater
• Bedrooms: Living room on the main level (14x15) — total rooms listed: 1
• Bathrooms: 2 bathrooms
• Heating & cooling: Space heater; Wall unit(s) for cooling
• Interior features: Bookcases; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $69k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 5.3% in Franklinton — 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 69/100 on livability (#67 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Washington Parish (rural): math 27% / reading 41% proficiency, ranked #38 of 98 in LA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 246 active listings in the ZIP; 10 units permitted in Washington Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washington County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $45k; list at $69k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.03% ✓
• Cap rate: 18.33%
• Cash-on-cash: 43.00%
• DSCR: 2.91
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $68,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
47763 Joby Magee Rd	0.00mi	3/2.0	980 (0%)	0mo	$69,000	$70	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 39.8%
• Equity multiple: 2.70×
• Total profit: $32,890
• Equity at exit: $10,288

10-year hold

• IRR: 46.1%
• Equity multiple: 5.42×
• Total profit: $85,341
• Equity at exit: $5,966

Cash invested: $19,320 (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 70438

• Home prices YoY: -14.2%
• Active inventory: 246
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,401 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$24 /mo · $287/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $692

Break-even live

Break-even rent $525

Max offer price $69,000

Occupancy floor 46%

Sensitivity live

Price	-10% $731	-5% $712	+0% $692	+5% $673	+10% $653
Rent	-10% $582	-5% $637	+0% $692	+5% $748	+10% $803
Rate	-1.0pp $727	-0.5pp $710	base $692	+0.5pp $674	+1.0pp $656

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-27
   status Pending
2. 2026-04-09
   status Active
3. 2026-03-11
   status Pending
4. 2026-02-12
   listed $69,000 Active
5. 2021-09-13
   soldstatus $45,000
6. 2008-02-25
   soldstatus $28,000
7. 2004-04-30
   soldstatus

ⓘ 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: $287 · $24/mo
• Projected year-2 tax: $380 · $32/mo
• Expected delta: +$93/yr (+$8/mo · 32.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,811
• − Mortgage interest: −$3,865
• − Property taxes: −$287
• − Insurance: −$345
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$2,007
• Taxable income: $7,617
• Est. tax owed @ 24.0%: −$1,828
• After-tax cash flow: $6,479/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: Washington Parish
• NCES district ID: 2201860
• Math proficiency: 27% ▼ -34.00%
• Reading proficiency: 41% ▼ -29.00%
• Median HH income: $34,972
• Composite: 28.03/100
• National rank: #6844
• State rank: #38 of 98 in LA

Livability — Franklinton

• Score: 69/100
• State rank: #67
• US rank: #8352

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment F Housing B Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,935

Population outlook (Washington County) Hauer SSP2

• Today (2025): 44,642 people
• By 2030: 43,302 · -3.0%
• By 2040: 40,345 · -9.6%
• By 2050: 37,434 · -16.1%
• By 2075: 29,954 · -32.9%
• By 2100: 21,579 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 9% Slovak 2% German 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+40.3) · D 29.3% · R 69.6% · Other 1.1%
• 2008→2024 swing: -7.6pp toward R · 2008: -32.7pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+37.6 2016: R+36.8 2012: R+28.3 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.73%
• Current HPI: 191.4762
• 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

+146.4% since first listed

7 events — show timeline

• 2026-04-27 Pending — MLSU
• 2026-04-09 Relisted — MLSU
• 2026-03-11 Pending — MLSU
• 2026-02-12 Listed $69,000 MLSU
• 2021-09-13 Sold (Public Records) $45,000 Public Records
• 2008-02-25 Sold (Public Records) $28,000 Public Records
• 2004-04-30 Sold (Public Records) — Public Records

Property tax history

-1.4%/yr

Latest (2025): $287 · +0.4% YoY. Source: county tax records.