1111 Florida St

Delhi, LA 71232

$89,000B-

3 bd · 1.0 ba · 1,200 sqft · Built — · SingleFamily · Pending · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,014/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $244/mo
• Annual: $2,924/yr
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• 1% rule: 1.14%
• Cash to close: $24,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $89k.
• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 80 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($615 loan paydown + $4k appreciation (4.3% local appreciation)).
• Location reads 60/100 on livability (#261 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+, crime B; Watch: schools D, health & safety D, 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: 45 active listings in the ZIP; 27 units permitted in Richland Parish in 2024 (0 in 5+ unit buildings).
• Richland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→21/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 80 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
• 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.