408 Bistineau Lake Rd

Ringgold, LA 71068

$74,385A-

3 bd · 2.0 ba · 1,600 sqft · Built 2019 · Manufactured · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,139/mo
• Mortgage (P&I): −$390
• Tax + insurance: −$495
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $15/mo
• Annual: $182/yr
• Cap rate: 13.42%
• Cash-on-cash: 25.45%
• DSCR: 2.13
• 1% rule: 1.53%
• Cash to close: $20,828

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $74k.
• At list price, monthly cash flow is $15 ($182/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 100 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($515 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#336 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools D, amenities F, commute F.
• Bienville Parish (rural): math 27% / reading 37% proficiency, ranked #42 of 98 in LA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 10 active listings in the ZIP; 18 units permitted in Bienville Parish in 2024 (0 in 5+ unit buildings).
• Bienville County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 74% 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.

Questions for listing agent

• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.