123 Wham Dr

Swartz, LA 71203

$210,000D-

4 bd · 2.0 ba · 2,040 sqft · Built 2021 · Manufactured · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,703/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$279
• HOA: −$0
• Vac / Maint / Mgmt: −$358
• Net cashflow: $-35/mo
• Annual: $-416/yr
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• 1% rule: 0.81%
• Cash to close: $58,800

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $210k. Condition is rated good.
• At list price, monthly cash flow is $-35 ($-416/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (18.9% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $170k (18.9% 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 64/100 on livability (#184 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, amenities 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.
• Zoned schools: Swartz Lower Elementary School (392 students, 67% FRL); East Ouachita Middle School (math 21% / reading 43%, grade F, #107 of 218 statewide, top 49%, 540 students, 69% FRL); Ouachita Parish High School (math 23% / reading 31%, grade F, #136 of 265 statewide, top 55%, 1,191 students, 66% FRL) — zoned schools average 67% FRL vs 52% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 440 active listings in the ZIP; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 5y 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.
• Current owner paid $25k; list at $210k implies a 740% gain — meaningful room to come down on a strong offer.
• This rent runs 39% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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.