110 Pinkie St

Richmond, LA 71282

$98,500B

3 bd · 1.5 ba · 1,256 sqft · Built — · SingleFamily · Pending · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,511/mo
• Mortgage (P&I): −$517
• Tax + insurance: −$130
• HOA: −$0
• Vac / Maint / Mgmt: −$527
• Net cashflow: $1,337/mo
• Annual: $16,047/yr
• Cap rate: 22.58%
• Cash-on-cash: 58.18%
• DSCR: 3.59
• 1% rule: 2.55%
• Cash to close: $27,580

Investor read

• This is a 3-bed/1.5-bath single-family listed at $98k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $98k).
• It's been on market 113 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($681 loan paydown + $2k appreciation (1.9% local appreciation)).
• Location reads 53/100 on livability (#392 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, crime F, amenities F.
• Madison Parish (town): math 3% / reading 10% proficiency, ranked #98 of 98 in LA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tallulah Elementary School (math 2% / reading 8%, grade F, #633 of 646 statewide, top 99%, 346 students, 90% FRL); Madison Middle School (math 8% / reading 12%, grade F, #202 of 218 statewide, top 93%, 244 students, 88% FRL); Madison High School (math 2% / reading 12%, grade F, #251 of 265 statewide, top 97%, 364 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 25 active listings in the ZIP; 2 units permitted in Madison Parish in 2024 (0 in 5+ unit buildings).
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $60k; list at $98k implies a 64% gain — meaningful room to come down on a strong offer.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.