3405 Felias Rd · Erath, LA 70533

$43,000

5 bd · 3.0 ba · 2,315 sqft · Manufactured · 35 Days on market

0.32 ac lot $19/sqft · 71% below area

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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 +7.5/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae Homepath Property. This 5 bedroom 3 bath manufactured home features large kitchen and living room with fireplace. Spacious bedrooms. Large backyard. Situated on large lot. A must see. First-timebuyers, complete the HomePath Ready Buyer homeownership course on HomePath.com. Attach the certificate to the offer for up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

Key facts

• Large backyard
• Large lot
• Large kitchen

Tags

• LARGE KITCHEN
• LIVING ROOM WITH FIREPLACE
• LARGE BACKYARD
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath manufactured listed at $43k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $42k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#35 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Vermilion Parish (town): math 40% / reading 53% proficiency, ranked #15 of 98 in LA (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 228 units permitted in Vermilion Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $297 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Vermilion County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 3.49% ✓
• Cap rate: 30.25%
• Cash-on-cash: 85.55%
• DSCR: 4.81
• GRM: 2.4

CMA / ARV

• ARV (median comp): $148,430
• List price: $43,000
• Delta: -71.03%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3405 Felias Rd	0.00mi	5/3.0	2,315 (0%)	0mo	$41,000	$18	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: 40.2%
• Equity multiple: 2.73×
• Total profit: $20,834
• Equity at exit: $6,411

10-year hold

• IRR: 46.7%
• Equity multiple: 5.55×
• Total profit: $54,780
• Equity at exit: $3,718

Cash invested: $12,040 (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 70533

• Active inventory: 35
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$18
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $432

Break-even live

Break-even rent $953

Max offer price $43,000

Occupancy floor 66%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-14
   price $43,000 425-char remark

   Show marketing remark (425 chars)

   This is a Fannie Mae Homepath Property. This 5 bedroom 3 bath manufactured home features large kitchen and living room with fireplace. Spacious bedrooms. Large backyard. Situated on large lot. A must see. First-timebuyers, complete the HomePath Ready Buyer homeownership course on HomePath.com. Attach the certificate to the offer for up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

2. 2026-04-17
   listed $45,000 Active 425-char remark

   Show marketing remark (425 chars)

   This is a Fannie Mae Homepath Property. This 5 bedroom 3 bath manufactured home features large kitchen and living room with fireplace. Spacious bedrooms. Large backyard. Situated on large lot. A must see. First-timebuyers, complete the HomePath Ready Buyer homeownership course on HomePath.com. Attach the certificate to the offer for up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

3. 2025-03-21
   listed $156,000 Active
4. 2021-03-15
   soldstatus $98,000
5. 2020-04-24
   listed $98,500
6. 2018-11-13
   listed $150,000

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $991 · $83/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $17,989
• − Mortgage interest: −$2,409
• − Property taxes: −$991
• − Insurance: −$5,334
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$1,251
• Taxable income: $5,127
• Est. tax owed @ 24.0%: −$1,230
• After-tax cash flow: $3,951/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: Vermilion Parish
• NCES district ID: 2201800
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 53% ▼ -32.00%
• Median HH income: $45,115
• Composite: 39.37/100
• National rank: #3974
• State rank: #15 of 98 in LA

Livability — Erath

• Score: 73/100
• State rank: #35
• US rank: #5499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,793

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 64,095 people
• By 2030: 65,915 · +2.8%
• By 2040: 68,985 · +7.6%
• By 2050: 70,804 · +10.5%
• By 2075: 73,897 · +15.3%
• By 2100: 71,793 · +12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 4% Black 4%
• Common ancestry: Lithuanian 13% Romanian 1% Serbian 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 92% English-only · French/Haitian/Cajun 7%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+63.8) · D 17.6% · R 81.4% · Other 1.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -47.5pp · 2024: -63.8pp
• All cycles: 2024: R+63.8 2020: R+61.9 2016: R+59.6 2012: R+52.8 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.05%
• Current HPI: 94.708
• 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

-71.3% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $43,000 AcadianaMLS
• 2026-04-17 Listed $45,000 AcadianaMLS
• 2025-03-21 Listed $156,000 AcadianaMLS
• 2021-03-15 Sold (MLS) $98,000 AcadianaMLS
• 2020-04-24 Listed $98,500 AcadianaMLS
• 2018-11-13 Listed $150,000 AcadianaMLS

Property tax history

+1.9%/yr

Latest (2025): $991 · -0.1% YoY. Source: county tax records.