56073 Mill Rd · Franklinton, LA 70438

$210,000

3 bd · 2.0 ba · 2,152 sqft · SingleFamily · 153 Days on market

Built 1977 3.60 ac lot $98/sqft · at area comps Est $208k · at est. ↓ 8% since listing

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Why this score? — see what drove the D 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 +14.8/30.0
• ARV discount +7.1/15.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility--whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

Key facts

• Thriving garden
• Over 3 acres of land
• Spacious bonus room

Tags

• SPACIOUS BONUS ROOM
• OVER 3 ACRES OF LAND
• THRIVING GARDEN
• TRANQUIL POND

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $59 ($711/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 (20.6% below list).
• Recommended offer: $167k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.3% in Franklinton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $166,740 (20.6% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (median comp): $208,141
• List price: $210,000
• Delta: 0.89%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-30,348
• Equity at exit: $31,312

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-21,947
• Equity at exit: $18,157

Cash invested: $58,800 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,667 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $59

Break-even live

Break-even rent $1,592

Max offer price $210,000

Occupancy floor 91%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $210,000 Active 153 DOM
2. 2026-06-17
   days on market $210,000 Active 152 DOM
3. 2026-06-16
   days on market $210,000 Active 151 DOM
4. 2026-06-15
   days on market $210,000 Active 150 DOM
5. 2026-06-13
   days on market $210,000 Active 148 DOM
6. 2026-06-10
   days on market $210,000 Active 145 DOM
7. 2026-06-09
   days on market $210,000 Active 144 DOM
8. 2026-06-08
   days on market $210,000 Active 143 DOM
9. 2026-06-07
   days on market $210,000 Active 142 DOM
10. 2026-06-03
    days on market $210,000 Active 138 DOM
11. 2026-06-02
    days on market $210,000 Active 137 DOM
12. 2026-06-01
    days on market $210,000 Active 136 DOM
13. 2026-05-31
    days on market $210,000 Active 135 DOM
14. 2026-03-10
    price $210,000 486-char remark

    Show marketing remark (491 chars)

    Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility—whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

15. 2026-03-10
    price $210,000 491-char remark

    Show marketing remark (491 chars)

    Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility—whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

16. 2026-02-16
    price $215,000 486-char remark

    Show marketing remark (491 chars)

    Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility—whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

17. 2026-02-16
    price $215,000 491-char remark

    Show marketing remark (491 chars)

    Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility—whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

18. 2026-01-16
    listed $229,000 Active 486-char remark

    Show marketing remark (491 chars)

    Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility—whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

19. 2026-01-16
    listed $229,000 Active 491-char remark

    Show marketing remark (491 chars)

    Welcome to this inviting residence featuring three well-appointed bedrooms, two full bathrooms, and a spacious bonus room ideal for a home office, media space, or playroom. Set on over 3 acres of land, the property offers exceptional versatility—whether you envision a thriving garden, a tranquil pond, or the charm of keeping livestock such as cows and chickens. With ample space and endless possibilities, this home combines comfort with the freedom to create your perfect lifestyle.

20. 2004-09-01
    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: $831 · $69/mo
• Projected year-2 tax: $1,155 · $96/mo
• Expected delta: +$324/yr (+$27/mo · 39.0%)

ⓘ 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 5/10 Major
• 🌡 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: $20,009
• − Mortgage interest: −$11,763
• − Property taxes: −$831
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$6,109
• Taxable loss: −$2,946
• Est. tax savings @ 24.0%: +$707
• After-tax cash flow: $1,418/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

-8.3% since first listed

7 events — show timeline

• 2026-03-10 Price Changed $210,000 AcadianaMLS
• 2026-03-10 Price Changed $210,000 GSREIN
• 2026-02-16 Price Changed $215,000 AcadianaMLS
• 2026-02-16 Price Changed $215,000 GSREIN
• 2026-01-16 Listed $229,000 GSREIN
• 2026-01-16 Listed $229,000 AcadianaMLS
• 2004-09-01 Sold (Public Records) — Public Records

Property tax history

-1.2%/yr

Latest (2025): $831 · +0.2% YoY. Source: county tax records.