272 Hwy 40 Hwy E · Independence, LA 70443

$115,000

3 bd · 2.0 ba · 1,561 sqft · SingleFamily public records · 17 Days on market

Built 1959 7,405 sqft lot Est $167k · 31% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

There lots of Potential in this 3 Bdr/ 2 Bath home located in the City Limits of Independence. FEATURES: Detached Carport/Storage, covered 16' x 11' Patio, Central A/H, Fenced (Chain link) Backyard, and 7.5' x 17.5 Front Porch. Located a short distance to I-55.

Key facts

• Detached carport
• Front porch
• Covered patio

Tags

• DETACHED CARPORT
• COVERED PATIO
• FENCED BACKYARD
• FRONT PORCH

Property features AI

Exterior

• Parking: Detached carport (one space)
• Utilities: Public water; Public sewer
• Home design: Single-story home; Very good condition; Slab foundation
• Construction: Asphalt shingle roof
• Exterior features: Fenced yard; Concrete covered patio/porch; Shed(s)

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 7 rooms (bedroom count not specified separately)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cable TV
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.0% in Independence — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 56/100 on livability (#351 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Tangipahoa Parish (rural): math 18% / reading 29% proficiency, ranked #63 of 98 in LA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 108 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.35% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.99%
• DSCR: 1.84
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $167,027
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51173 River Bend Dr	0.34mi	3/2.0	1,525 (-2%)	1mo	$216,000	$142	80
51201 River Bend Dr	0.34mi	4/2.0 (+1)	1,535 (-2%)	1mo	$216,000	$141	76
178 Tulane Ave	0.46mi	3/2.0	1,551 (-1%)	5mo	$33,250	$21	74
250 Tiger Ave	0.15mi	3/2.0	1,617 (+4%)	22mo	$175,000	$108	69
424 Cypress St	0.44mi	3/2.0	1,627 (+4%)	21mo	$174,900	$107	55
351 Pine St	0.52mi	3/1.5	1,489 (-5%)	16mo	$68,000	$46	52
541 W Third St	0.61mi	4/2.5 (+1)	1,656 (+6%)	12mo	$158,000	$95	44

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: 10.8%
• Equity multiple: 1.43×
• Total profit: $13,789
• Equity at exit: $17,147

10-year hold

• IRR: 19.9%
• Equity multiple: 2.67×
• Total profit: $53,687
• Equity at exit: $9,943

Cash invested: $32,200 (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 70443

• Active inventory: 108
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $509

Break-even live

Break-even rent $905

Max offer price $115,000

Occupancy floor 62%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52520 Highway 1065 Independence, LA	3.0	2.0	1423	$1,550	$1.09	43d	1	1.29mi

Listing history 14 events

1. 2026-06-19
   days on market $115,000 Active 17 DOM
2. 2026-06-18
   days on market $115,000 Active 16 DOM
3. 2026-06-17
   days on market $115,000 Active 15 DOM
4. 2026-06-16
   days on market $115,000 Active 14 DOM
5. 2026-06-15
   days on market $115,000 Active 13 DOM
6. 2026-06-14
   days on market $115,000 Active 11 DOM
7. 2026-06-13
   days on market $115,000 Active 10 DOM
8. 2026-06-10
   days on market $115,000 Active 8 DOM
9. 2026-06-09
   days on market $115,000 Active 7 DOM
10. 2026-06-08
    days on market $115,000 Active 6 DOM
11. 2026-06-07
    days on market $115,000 Active 5 DOM
12. 2026-06-05
    days on market $115,000 Active 2 DOM
13. 2026-06-03
    remarks 261-char remark
14. 2026-06-03
    listed $115,000 Active 1 DOM

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $768 · $64/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$6,442
• − Property taxes: −$768
• − Insurance: −$575
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$3,345
• Taxable income: $4,493
• Est. tax owed @ 24.0%: −$1,078
• After-tax cash flow: $5,035/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: Tangipahoa Parish
• NCES district ID: 2201680
• Math proficiency: 18% ▼ -32.00%
• Reading proficiency: 29% ▼ -31.00%
• Median HH income: $41,283
• Composite: 19.94/100
• National rank: #8676
• State rank: #63 of 98 in LA

Livability — Independence

• Score: 56/100
• State rank: #351
• US rank: #23010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, LA
• Population (ZIP): 8,359

Population outlook (Tangipahoa County) Hauer SSP2

• Today (2025): 144,204 people
• By 2030: 151,413 · +5.0%
• By 2040: 164,374 · +14.0%
• By 2050: 175,427 · +21.7%
• By 2075: 195,165 · +35.3%
• By 2100: 201,641 · +39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 53% Black 28% Hispanic / Latino 16% Two or more races 12%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 7% Slovak 2% Portuguese 1%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Tangipahoa

• 2024 margin: Solid R (+37.4) · D 30.6% · R 68.0% · Other 1.3%
• 2008→2024 swing: -6.5pp toward R · 2008: -30.9pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+32.8 2016: R+32.6 2012: R+27.7 2008: R+30.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.69%
• Current HPI: 101.0489
• 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

+310.7% since first listed

5 events — show timeline

• 2026-06-01 Listed $115,000 AcadianaMLS
• 2026-06-01 Listed $115,000 GSREIN
• 2021-05-03 Sold (Public Records) $135,900 Public Records
• 2020-12-12 Listed $135,900 AcadianaMLS
• 1993-01-28 Sold (Public Records) $28,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $768 · +0.6% YoY. Source: county tax records.