300 Ferriday Dr

Ridgecrest, LA 71334

$120,000C-

3 bd · 1.5 ba · 1,200 sqft · Built 1954 · SingleFamily · Pending · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,011/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$212
• Net cashflow: $91/mo
• Annual: $1,093/yr
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• 1% rule: 0.84%
• Cash to close: $33,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $120k.
• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (15.7% below list).
• It's been on market 59 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (15.7% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($830 loan paydown + $7k appreciation (5.8% local appreciation)).
• Location reads 47/100 on livability (#443 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, housing D+, schools F.
• Concordia Parish (town): math 19% / reading 27% proficiency, ranked #65 of 98 in LA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 27 units permitted in Concordia Parish in 2024 (0 in 5+ unit buildings).
• Concordia County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 92% chance of damaging wind over 30y; extreme-heat days projected 7→19/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 59 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.