24980 Berry Ridge Ln

Springfield, LA 70462

$224,900D+

4 bd · 2.0 ba · 1,576 sqft · Built 2026 · SingleFamily · Pending · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,881/mo
• Mortgage (P&I): −$1,191
• Tax + insurance: −$379
• HOA: −$47
• Vac / Maint / Mgmt: −$395
• Net cashflow: $-131/mo
• Annual: $-1,574/yr
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• 1% rule: 0.83%
• Cash to close: $63,606

Investor read

• This is a 4-bed/2.0-bath single-family listed at $225k. Condition is rated excellent.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (16.4% below list).
• It's been on market 21 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (16.4% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#218 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: employment C-, health & safety C-, crime F.
• Livingston Parish (suburban): math 40% / reading 52% proficiency, ranked #13 of 98 in LA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 214 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 794 units permitted in Livingston Parish in 2024 (99 in 5+ unit buildings).
• Livingston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 4.4% in Springfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.