6722 Highway 115

Evergreen, LA 71322

$167,000D

4 bd · 2.0 ba · 1,791 sqft · Built 2019 · Manufactured · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,289/mo
• Mortgage (P&I): −$876
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $-58/mo
• Annual: $-699/yr
• Cap rate: 6.35%
• Cash-on-cash: 0.21%
• DSCR: 1.01
• 1% rule: 0.77%
• Cash to close: $46,760

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $167k.
• At list price, monthly cash flow is $-58 ($-699/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (22.8% below list).
• It's been on market 25 days — a 2% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (22.8% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.9% local appreciation)).
• Location reads 52/100 on livability (#411 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, housing D, crime F.
• Avoyelles Parish (rural): math 22% / reading 30% proficiency, ranked #56 of 98 in LA (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cottonport Elementary (math 8% / reading 17%, grade F, #550 of 646 statewide, top 88%, 318 students, 71% FRL); Bunkie Magnet High School (math 23% / reading 28%, grade F, #149 of 265 statewide, top 56%, 702 students, 52% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 23 active listings in the ZIP; 15 units permitted in Avoyelles Parish in 2024 (0 in 5+ unit buildings).
• Avoyelles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.