10255 Railroad Dr

Maringouin, LA 70757

$72,400A-

3 bd · 2.0 ba · 1,440 sqft · Built 1995 · Manufactured · Pending · 572 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,194/mo
• Mortgage (P&I): −$380
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $376/mo
• Annual: $4,516/yr
• Cap rate: 13.63%
• Cash-on-cash: 26.21%
• DSCR: 2.17
• 1% rule: 1.65%
• Cash to close: $20,272

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $72k. Condition is rated good.
• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• It's been on market 572 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($501 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#163 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: employment D, crime F, amenities F.
• Iberville Parish (rural): math 23% / reading 34% proficiency, ranked #45 of 98 in LA (top 46%) — 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.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 8 active listings in the ZIP; 117 units permitted in Iberville Parish in 2024 (0 in 5+ unit buildings).
• Iberville County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/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 572 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
• 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.