1617 Walker Rd Rd

Carlyss, LA 70665

$389,000C+

3 bd · 3.5 ba · 3,150 sqft · Built 1981 · SingleFamily · Active · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$2,040
• Tax + insurance: −$841
• HOA: −$0
• Vac / Maint / Mgmt: −$945
• Net cashflow: $674/mo
• Annual: $8,093/yr
• Cap rate: 9.69%
• Cash-on-cash: 12.13%
• DSCR: 1.54
• 1% rule: 1.16%
• Cash to close: $108,920

Investor read

• This is a 3-bed/3.5-bath single-family listed at $389k.
• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• It's been on market 107 days — a 9% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $354k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#237 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D-, amenities F, commute F.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cypress Cove Elementary School (math 42% / reading 60%, grade C-, #120 of 646 statewide, top 19%, 512 students, 61% FRL); W. W. Lewis Middle School (math 33% / reading 48%, grade F, #62 of 218 statewide, top 29%, 777 students, 49% FRL); Sulphur High School (math 36% / reading 53%, grade F, #58 of 265 statewide, top 23%, 2,043 students, 47% FRL) — zoned schools at 52% FRL track the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 236 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/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 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• Crime grade is D 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.