302 Princeton Rd

Eastwood, LA 71067

$198,000D

3 bd · 2.0 ba · 2,232 sqft · Built 1955 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,188/mo
• Mortgage (P&I): −$1,038
• Tax + insurance: −$215
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $-315/mo
• Annual: $-3,780/yr
• Cap rate: 4.38%
• Cash-on-cash: -6.82%
• DSCR: 0.70
• 1% rule: 0.60%
• Cash to close: $55,440

Investor read

• This is a 3-bed/2.0-bath single-family listed at $198k.
• At list price, monthly cash flow is $-315 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (28.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (40.0% below list).
• It's been on market 157 days — a 12% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (40.0% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $7k appreciation (3.7% local appreciation)).
• Location reads 61/100 on livability (#241 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A, crime A-, housing A-; Watch: schools D+, employment D, amenities F.
• Bossier Parish (urban): math 40% / reading 47% proficiency, ranked #17 of 98 in LA (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 101 active listings in the ZIP; 716 units permitted in Bossier Parish in 2024 (0 in 5+ unit buildings).
• Bossier County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.4% vs local median 2.4% in Eastwood — 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

• 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?
• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.