30308 Highway 424 Hwy

Franklinton, LA 70438

$180,000D

4 bd · 2.0 ba · 1,536 sqft · Built 1951 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,671/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$351
• Net cashflow: $76/mo
• Annual: $917/yr
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• 1% rule: 0.93%
• Cash to close: $50,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $76 ($917/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 $167k (7.1% below list).
• It's been on market 30 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $167k (7.1% 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 $5k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Franklinton Primary School (math 22% / reading 32%, grade F, #359 of 646 statewide, top 57%, 664 students, 56% FRL); Franklinton Junior High School (math 27% / reading 46%, grade F, #82 of 218 statewide, top 38%, 362 students, 59% FRL); Franklinton High School (math 27% / reading 42%, grade F, #106 of 265 statewide, top 43%, 732 students, 56% FRL) — zoned schools average 57% FRL vs 77% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 245 active listings in the ZIP; 10 units permitted in Washington Parish in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 5.5% in Franklinton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.