2235 Highway 15 · Mangham, LA 71269

$237,500

3 bd · 3.0 ba · 1,935 sqft · SingleFamily · 233 Days on market

0.50 ac lot $123/sqft · 15% below area Est $280k · 15% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.2/30.0
• ARV discount +14.4/15.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in Ready & Full of Charm! This beautifully renovated Alto home is ready to welcome new owners! Located in the sought-after Mangham School District, it features 3 spacious bedrooms, 3 stylishly updated bathrooms, and generous closet space throughout. The kitchen shines with quartz countertops, modern cabinetry, a brand-new stove and dishwasher — perfect for cooking and gathering. Step outside to a covered patio, ideal for relaxing evenings or weekend grilling. Don’t miss this one!

Key facts

• Quartz countertops
• Covered patio
• Renovated alto home

Tags

• RENOVATED ALTO HOME
• QUARTZ COUNTERTOPS
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $238k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/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 $218k (8.3% below list).
• Recommended offer: $209k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#296 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing 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.
• Market conditions: 100 active listings in the ZIP; 27 units permitted in Richland Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Richland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 233 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $74k; list at $238k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $209,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 9.1

CMA / ARV

• ARV (median comp): $280,189
• List price: $237,500
• Delta: -15.24%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2090 Highway 15	0.40mi	3/2.0	1,887 (-2%)	15mo	$280,000	$148	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-19,436
• Equity at exit: $35,412

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $7,318
• Equity at exit: $20,535

Cash invested: $66,500 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 71269

• Home prices YoY: -26.4%
• Active inventory: 100
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,179 medium
• Mortgage (P&I): −$1,245
• Tax from tax record: −$76 /mo · $911/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $301

Break-even live

Break-even rent $1,798

Max offer price $237,500

Occupancy floor 81%

Sensitivity live

Price	-10% $435	-5% $368	+0% $301	+5% $233	+10% $166
Rent	-10% $129	-5% $215	+0% $301	+5% $387	+10% $473
Rate	-1.0pp $420	-0.5pp $361	base $301	+0.5pp $239	+1.0pp $177

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $59,375
• Closing costs: $7,125
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $237,500 Active 233 DOM
2. 2026-06-18
   days on market $237,500 Active 232 DOM
3. 2026-06-17
   days on market $237,500 Active 231 DOM
4. 2026-06-16
   days on market $237,500 Active 230 DOM
5. 2026-06-15
   price $237,500 Active 229 DOM
6. 2026-06-15
   days on market $240,000 Active 229 DOM
7. 2026-06-14
   days on market $240,000 Active 227 DOM
8. 2026-06-13
   days on market $240,000 Active 226 DOM
9. 2026-06-10
   days on market $240,000 Active 224 DOM
10. 2026-06-09
    days on market $240,000 Active 223 DOM
11. 2026-06-08
    days on market $240,000 Active 222 DOM
12. 2026-06-07
    days on market $240,000 Active 221 DOM
13. 2026-06-02
    days on market $240,000 Active 216 DOM
14. 2026-06-01
    days on market $240,000 Active 215 DOM
15. 2026-05-31
    days on market $240,000 Active 214 DOM
16. 2026-05-30
    days on market $240,000 Active 213 DOM
17. 2025-12-10
    status Active 507-char remark

    Show marketing remark (507 chars)

    Move-in Ready & Full of Charm! This beautifully renovated Alto home is ready to welcome new owners! Located in the sought-after Mangham School District, it features 3 spacious bedrooms, 3 stylishly updated bathrooms, and generous closet space throughout. The kitchen shines with quartz countertops, modern cabinetry, a brand-new stove and dishwasher — perfect for cooking and gathering. Step outside to a covered patio, ideal for relaxing evenings or weekend grilling. Don’t miss this one!

18. 2025-11-13
    price $240,000 507-char remark

    Show marketing remark (507 chars)

    Move-in Ready & Full of Charm! This beautifully renovated Alto home is ready to welcome new owners! Located in the sought-after Mangham School District, it features 3 spacious bedrooms, 3 stylishly updated bathrooms, and generous closet space throughout. The kitchen shines with quartz countertops, modern cabinetry, a brand-new stove and dishwasher — perfect for cooking and gathering. Step outside to a covered patio, ideal for relaxing evenings or weekend grilling. Don’t miss this one!

19. 2025-08-14
    status Active 507-char remark

    Show marketing remark (507 chars)

    Move-in Ready & Full of Charm! This beautifully renovated Alto home is ready to welcome new owners! Located in the sought-after Mangham School District, it features 3 spacious bedrooms, 3 stylishly updated bathrooms, and generous closet space throughout. The kitchen shines with quartz countertops, modern cabinetry, a brand-new stove and dishwasher — perfect for cooking and gathering. Step outside to a covered patio, ideal for relaxing evenings or weekend grilling. Don’t miss this one!

20. 2025-07-28
    status Pending 507-char remark

    Show marketing remark (507 chars)

    Move-in Ready & Full of Charm! This beautifully renovated Alto home is ready to welcome new owners! Located in the sought-after Mangham School District, it features 3 spacious bedrooms, 3 stylishly updated bathrooms, and generous closet space throughout. The kitchen shines with quartz countertops, modern cabinetry, a brand-new stove and dishwasher — perfect for cooking and gathering. Step outside to a covered patio, ideal for relaxing evenings or weekend grilling. Don’t miss this one!

21. 2025-06-16
    listed $249,900 Active 507-char remark

    Show marketing remark (507 chars)

    Move-in Ready & Full of Charm! This beautifully renovated Alto home is ready to welcome new owners! Located in the sought-after Mangham School District, it features 3 spacious bedrooms, 3 stylishly updated bathrooms, and generous closet space throughout. The kitchen shines with quartz countertops, modern cabinetry, a brand-new stove and dishwasher — perfect for cooking and gathering. Step outside to a covered patio, ideal for relaxing evenings or weekend grilling. Don’t miss this one!

22. 2010-07-22
    soldstatus $74,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $911 · $76/mo
• Projected year-2 tax: $1,306 · $109/mo
• Expected delta: +$395/yr (+$33/mo · 43.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,142
• − Mortgage interest: −$13,304
• − Property taxes: −$911
• − Insurance: −$1,188
• − Repairs & maintenance: −$2,091
• − Management: −$2,091
• − Depreciation: −$6,909
• Taxable loss: −$352
• Est. tax savings @ 24.0%: +$84
• After-tax cash flow: $3,693/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Richland Parish
• NCES district ID: 2201350
• Math proficiency: 12% ▼ -36.00%
• Reading proficiency: 22% ▼ -31.00%
• Median HH income: $36,097
• Composite: 14.06/100
• National rank: #9464
• State rank: #73 of 98 in LA

Livability — Mangham

• Score: 58/100
• State rank: #296
• US rank: #20964

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,475

Population outlook (Richland County) Hauer SSP2

• Today (2025): 20,283 people
• By 2030: 19,990 · -1.4%
• By 2040: 19,240 · -5.1%
• By 2050: 18,497 · -8.8%
• By 2075: 16,626 · -18.0%
• By 2100: 14,204 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Black 36% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Richland

• 2024 margin: Solid R (+39.4) · D 29.7% · R 69.1% · Other 1.2%
• 2008→2024 swing: -12.8pp toward R · 2008: -26.6pp · 2024: -39.4pp
• All cycles: 2024: R+39.4 2020: R+34.0 2016: R+32.6 2012: R+28.2 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.82%
• Current HPI: 158.2193
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+224.3% since first listed

6 events — show timeline

• 2025-12-10 Relisted — NELABOR
• 2025-11-13 Price Changed $240,000 NELABOR
• 2025-08-14 Relisted — NELABOR
• 2025-07-28 Pending — NELABOR
• 2025-06-16 Listed $249,900 NELABOR
• 2010-07-22 Sold (Public Records) $74,000 Public Records

Property tax history

+6.4%/yr

Latest (2024): $911 · +3.5% YoY. Source: county tax records.