722 Highway 578

Winnsboro, LA 71295

$198,500C-

3 bd · 2.0 ba · 1,280 sqft · Built — · Manufactured · Active · 147 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,115/mo
• Mortgage (P&I): −$1,041
• Tax + insurance: −$331
• HOA: −$0
• Vac / Maint / Mgmt: −$444
• Net cashflow: $299/mo
• Annual: $3,588/yr
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $55,580

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $198k. Condition is rated excellent.
• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• It's been on market 147 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (12.0% 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 $6k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#278 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, schools F, crime D-.
• Franklin Parish (rural): math 14% / reading 22% proficiency, ranked #71 of 98 in LA (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 44 active listings in the ZIP; 17 units permitted in Franklin Parish in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 80% 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

• It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% 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 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 D 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?
• 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.