19375 M Thomas Rd

Franklinton, LA 70438

$138,000D-

3 bd · 2.0 ba · 1,167 sqft · Built 2017 · Manufactured · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $922/mo
• Mortgage (P&I): −$724
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$194
• Net cashflow: $-225/mo
• Annual: $-2,705/yr
• Cap rate: 4.33%
• Cash-on-cash: -7.00%
• DSCR: 0.69
• 1% rule: 0.67%
• Cash to close: $38,640

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $138k. Condition is rated average.
• At list price, monthly cash flow is $-225 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (33.2% below list).
• It's been on market 150 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (33.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $954 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#67 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Washington Parish (rural): math 27% / reading 41% proficiency, ranked #38 of 98 in LA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Enon Elementary School (math 52% / reading 62%, grade C+, #79 of 646 statewide, top 13%, 287 students, 37% FRL); Franklinton Junior High School (math 27% / reading 46%, grade F, #82 of 218 statewide, top 38%, 362 students, 59% FRL); Franklinton High School (math 27% / reading 42%, grade F, #106 of 265 statewide, top 43%, 732 students, 56% FRL) — zoned schools average 51% FRL vs 77% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 312 active listings in the ZIP; 10 units permitted in Washington Parish in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.

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 150 days. Have you received any prior offers? Is the seller open to a 33% 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — dated and could be replaced
• Minor: kitchen appliances — could be updated for a more modern look