1014 N Polk St

Rayne, LA 70578

$164,900C+

4 bd · 2.0 ba · 1,826 sqft · Built — · SingleFamily · Active · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,709/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$159
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $326/mo
• Annual: $3,912/yr
• Cap rate: 8.67%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• 1% rule: 1.04%
• Cash to close: $46,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 74 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• 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 75/100 on livability (#18 in LA, #3,895 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Acadia Parish (rural): math 32% / reading 44% proficiency, ranked #28 of 98 in LA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South Rayne Elementary School (math 30% / reading 30%, grade F, #328 of 646 statewide, top 51%, 201 students, 80% FRL); Armstrong Middle School (math 15% / reading 38%, grade F, #135 of 218 statewide, top 62%, 340 students, 79% FRL); Rayne High School (math 30% / reading 47%, grade F, #88 of 265 statewide, top 33%, 640 students, 63% FRL).
• Market conditions: 95 active listings in the ZIP; 137 units permitted in Acadia Parish in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 7y 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 $120k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.7% vs local median 5.4% in Rayne — 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.

Questions for listing agent

• It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.