819 Mignon St

Minden, LA 71055

$24,900B+

2 bd · 1.0 ba · 900 sqft · Built 1960 · SingleFamily · Pending · 194 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $930/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$27
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $578/mo
• Annual: $6,934/yr
• Cap rate: 34.14%
• Cash-on-cash: 99.45%
• DSCR: 5.43
• 1% rule: 3.74%
• Cash to close: $6,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $25k.
• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($930 rent vs $25k).
• It's been on market 194 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#92 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D, crime F, commute F.
• Webster Parish (town): math 17% / reading 26% proficiency, ranked #67 of 98 in LA (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: J. L. Jones Elementary School (math 12% / reading 12%, grade F, #568 of 646 statewide, top 89%, 334 students, 53% FRL); Webster Junior High School (math 13% / reading 21%, grade F, #174 of 218 statewide, top 81%, 519 students, 50% FRL); Minden High School (math 27% / reading 27%, grade F, #136 of 265 statewide, top 55%, 807 students, 44% FRL).
• Market conditions: 136 active listings in the ZIP; 36 units permitted in Webster Parish in 2024 (0 in 5+ unit buildings).
• Webster County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $15k; list at $25k implies a 66% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 64% 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.
• Cap rate 34.1% vs local median 5.0% in Minden — 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.

Questions for listing agent

• It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.