3638 Oakland Rd #6

Erwinville, LA 70752

$550,000B

None bd · None ba · 7,200 sqft · Built — · MultiFamily · Active · 1440 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,653/mo
• Mortgage (P&I): −$2,884
• Tax + insurance: −$917
• HOA: −$0
• Vac / Maint / Mgmt: −$1,607
• Net cashflow: $2,245/mo
• Annual: $26,939/yr
• Cap rate: 11.19%
• Cash-on-cash: 17.49%
• DSCR: 1.78
• 1% rule: 1.39%
• Cash to close: $154,000

Investor read

• This is a multifamily listed at $550k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $550k).
• It's been on market 1440 days — a 12% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $484k (12.0% below list) — sets the bar for market timing.
• In year one you build about $20k of equity ($4k loan paydown + $16k appreciation (3.0% local appreciation)).
• Location reads 55/100 on livability (#361 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: housing C-, employment D+, amenities F.
• Pointe Coupee Parish (rural): math 21% / reading 29% proficiency, ranked #56 of 98 in LA (top 57%) — 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: Rougon Elementary School (math 23% / reading 28%, grade F, #378 of 646 statewide, top 59%, 516 students, 67% FRL); Livonia High School (math 20% / reading 34%, grade F, #136 of 265 statewide, top 55%, 1,010 students, 66% FRL).
• Market conditions: 5 active listings in the ZIP; 60 units permitted in Pointe Coupee Parish in 2024 (0 in 5+ unit buildings).
• Pointe Coupee County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $50k (8%) 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 $154k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% 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

• It's been on market 1440 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant peeling and wear on the exterior siding.
• Major: roof — Visible signs of wear and potential need for replacement.
• Major: flooring — Worn and may need replacement.
• Major: HVAC/mechanicals — Outdated and may need replacement.