1 Cox Rd

Start, LA 71269

$199,900C

3 bd · 1.5 ba · 1,259 sqft · Built — · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,191/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$177
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $506/mo
• Annual: $6,070/yr
• Cap rate: 9.33%
• Cash-on-cash: 10.84%
• DSCR: 1.48
• 1% rule: 1.10%
• Cash to close: $55,972

Investor read

• This is a 3-bed/1.5-bath single-family listed at $200k.
• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 (#279 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, crime F, amenities F.
• Richland Parish (rural): math 12% / reading 22% proficiency, ranked #73 of 98 in LA (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Start Elementary School (math 12% / reading 17%, grade F, #516 of 646 statewide, top 82%, 318 students, 56% FRL); Mangham Junior High School (math 19% / reading 35%, grade F, #132 of 218 statewide, top 61%, 211 students, 52% FRL); Rayville High School (math 8% / reading 17%, grade F, #230 of 265 statewide, top 88%, 385 students, 73% FRL) — zoned schools average 60% FRL vs 76% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 100 active listings in the ZIP; 27 units permitted in Richland Parish in 2024 (0 in 5+ unit buildings).
• Richland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 14y ago 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.
• Current owner paid $156k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.