609 Joe Frazier Rd

Calvin, LA 71483

$55,000B

3 bd · 1.0 ba · 1,377 sqft · Built — · SingleFamily · Active · 143 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,061/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$37
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $513/mo
• Annual: $6,162/yr
• Cap rate: 17.50%
• Cash-on-cash: 40.01%
• DSCR: 2.78
• 1% rule: 1.93%
• Cash to close: $15,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 143 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.2% local appreciation)).
• Location reads 58/100 on livability (#299 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime F, amenities F.
• Winn Parish (rural): math 20% / reading 30% proficiency, ranked #61 of 98 in LA (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Winnfield Primary School (math 17% / reading 27%, grade F, #415 of 646 statewide, top 67%, 454 students, 74% FRL); Winnfield Middle School (math 14% / reading 30%, grade F, #153 of 218 statewide, top 72%, 345 students, 73% FRL); Winnfield High School (math 44% / reading 32%, grade F, #89 of 265 statewide, top 33%, 371 students, 66% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 29 active listings in the ZIP; 1 units permitted in Winn Parish in 2024 (0 in 5+ unit buildings).
• Winn County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 143 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.