19129 Lee Rd · Franklinton, LA 70438

$178,500

4 bd · 2.0 ba · 2,350 sqft · SingleFamily · 129 Days on market

Built 2004 1.56 ac lot $76/sqft · 27% below area Est $243k · 27% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated 4-bedroom, 2-bath manufactured home situated on approximately 1.5 acres in a peaceful country setting. This spacious 2004 manufactured home was installed on site on a slab foundation and offers over 2,300 living square feet. Recent improvements include a new metal roof, fresh interior paint, and brand-new flooring throughout, giving the home a modern, move-in ready feel. The property features a concrete driveway along with walkways leading to both the front and side entrances for added convenience. A storage shed is included, providing extra space for tools, equipment, or outdoor storage needs. Enjoy the privacy and tranquility of rural living with plenty of room to spread out, while still being just a short drive to town and local amenities.

Key facts

• 1.56 acre lot
• Parking
• Built 2004

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (0.9% below list).
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.3% in Franklinton — 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.

Location & tenants

• Location reads 69/100 on livability (#67 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Washington Parish (rural): math 27% / reading 41% proficiency, ranked #38 of 98 in LA (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 246 active listings in the ZIP; 10 units permitted in Washington Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Washington County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago 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.
• Current owner paid $77k; list at $178k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 8.4

CMA / ARV

• ARV (median comp): $243,324
• List price: $178,500
• Delta: -26.64%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50573 Victoria Dr	0.13mi	3/2.0 (-1)	2,283 (-3%)	1mo	$227,000	$99	83

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-7,554
• Equity at exit: $26,615

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $20,721
• Equity at exit: $15,433

Cash invested: $49,980 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70438

• Home prices YoY: -14.2%
• Active inventory: 246
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,770 medium
• Mortgage (P&I): −$936
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $337

Break-even live

Break-even rent $1,343

Max offer price $178,500

Occupancy floor 76%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $44,625
• Closing costs: $5,355
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $178,500 Active 129 DOM
2. 2026-06-17
   days on market $178,500 Active 128 DOM
3. 2026-06-16
   days on market $178,500 Active 127 DOM
4. 2026-06-15
   days on market $178,500 Active 126 DOM
5. 2026-06-13
   days on market $178,500 Active 124 DOM
6. 2026-06-10
   days on market $178,500 Active 121 DOM
7. 2026-06-09
   days on market $178,500 Active 120 DOM
8. 2026-06-08
   days on market $178,500 Active 119 DOM
9. 2026-06-07
   days on market $178,500 Active 118 DOM
10. 2026-06-03
    days on market $178,500 Active 114 DOM
11. 2026-06-02
    days on market $178,500 Active 113 DOM
12. 2026-06-01
    days on market $178,500 Active 112 DOM
13. 2026-05-31
    days on market $178,500 Active 111 DOM
14. 2026-05-01
    price $178,500 772-char remark

    Show marketing remark (772 chars)

    Beautifully updated 4-bedroom, 2-bath manufactured home situated on approximately 1.5 acres in a peaceful country setting. This spacious 2004 manufactured home was installed on site on a slab foundation and offers over 2,300 living square feet. Recent improvements include a new metal roof, fresh interior paint, and brand-new flooring throughout, giving the home a modern, move-in ready feel. The property features a concrete driveway along with walkways leading to both the front and side entrances for added convenience. A storage shed is included, providing extra space for tools, equipment, or outdoor storage needs. Enjoy the privacy and tranquility of rural living with plenty of room to spread out, while still being just a short drive to town and local amenities.

15. 2026-05-01
    price $178,500 772-char remark

    Show marketing remark (772 chars)

    Beautifully updated 4-bedroom, 2-bath manufactured home situated on approximately 1.5 acres in a peaceful country setting. This spacious 2004 manufactured home was installed on site on a slab foundation and offers over 2,300 living square feet. Recent improvements include a new metal roof, fresh interior paint, and brand-new flooring throughout, giving the home a modern, move-in ready feel. The property features a concrete driveway along with walkways leading to both the front and side entrances for added convenience. A storage shed is included, providing extra space for tools, equipment, or outdoor storage needs. Enjoy the privacy and tranquility of rural living with plenty of room to spread out, while still being just a short drive to town and local amenities.

16. 2026-02-07
    listed $185,000 Active 772-char remark

    Show marketing remark (772 chars)

    Beautifully updated 4-bedroom, 2-bath manufactured home situated on approximately 1.5 acres in a peaceful country setting. This spacious 2004 manufactured home was installed on site on a slab foundation and offers over 2,300 living square feet. Recent improvements include a new metal roof, fresh interior paint, and brand-new flooring throughout, giving the home a modern, move-in ready feel. The property features a concrete driveway along with walkways leading to both the front and side entrances for added convenience. A storage shed is included, providing extra space for tools, equipment, or outdoor storage needs. Enjoy the privacy and tranquility of rural living with plenty of room to spread out, while still being just a short drive to town and local amenities.

17. 2026-02-07
    listed $185,000 Active 772-char remark

    Show marketing remark (772 chars)

    Beautifully updated 4-bedroom, 2-bath manufactured home situated on approximately 1.5 acres in a peaceful country setting. This spacious 2004 manufactured home was installed on site on a slab foundation and offers over 2,300 living square feet. Recent improvements include a new metal roof, fresh interior paint, and brand-new flooring throughout, giving the home a modern, move-in ready feel. The property features a concrete driveway along with walkways leading to both the front and side entrances for added convenience. A storage shed is included, providing extra space for tools, equipment, or outdoor storage needs. Enjoy the privacy and tranquility of rural living with plenty of room to spread out, while still being just a short drive to town and local amenities.

18. 2014-06-20
    soldstatus $77,000
19. 2014-06-20
    soldstatus $77,000
20. 2013-10-02
    soldstatus $146,000
21. 2013-08-01
    listed $90,000
22. 2013-08-01
    listed $90,000
23. 2009-04-08
    listed $165,000
24. 2009-04-08
    listed $165,000
25. 2005-11-08
    soldstatus $171,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $611 · $51/mo
• Projected year-2 tax: $982 · $82/mo
• Expected delta: +$371/yr (+$31/mo · 60.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,237
• − Mortgage interest: −$9,999
• − Property taxes: −$611
• − Insurance: −$892
• − Repairs & maintenance: −$1,699
• − Management: −$1,699
• − Depreciation: −$5,193
• Taxable income: $1,145
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $3,767/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Washington Parish
• NCES district ID: 2201860
• Math proficiency: 27% ▼ -34.00%
• Reading proficiency: 41% ▼ -29.00%
• Median HH income: $34,972
• Composite: 28.03/100
• National rank: #6844
• State rank: #38 of 98 in LA

Livability — Franklinton

• Score: 69/100
• State rank: #67
• US rank: #8352

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment F Housing B Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 19,935

Population outlook (Washington County) Hauer SSP2

• Today (2025): 44,642 people
• By 2030: 43,302 · -3.0%
• By 2040: 40,345 · -9.6%
• By 2050: 37,434 · -16.1%
• By 2075: 29,954 · -32.9%
• By 2100: 21,579 · -51.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 9% Slovak 2% German 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+40.3) · D 29.3% · R 69.6% · Other 1.1%
• 2008→2024 swing: -7.6pp toward R · 2008: -32.7pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+37.6 2016: R+36.8 2012: R+28.3 2008: R+32.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.73%
• Current HPI: 191.4762
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+4.4% since first listed

12 events — show timeline

• 2026-05-01 Price Changed $178,500 AcadianaMLS
• 2026-05-01 Price Changed $178,500 GSREIN
• 2026-02-07 Listed $185,000 GSREIN
• 2026-02-07 Listed $185,000 AcadianaMLS
• 2014-06-20 Sold (Public Records) $77,000 Public Records
• 2014-06-20 Sold (MLS) $77,000 GSREIN
• 2013-10-02 Sold (Public Records) $146,000 Public Records
• 2013-08-01 Listed $90,000 AcadianaMLS
• 2013-08-01 Listed $90,000 GSREIN
• 2009-04-08 Listed $165,000 GSREIN
• 2009-04-08 Listed $165,000 AcadianaMLS
• 2005-11-08 Sold (Public Records) $171,000 Public Records

Property tax history

-3.1%/yr

Latest (2025): $611 · -20.2% YoY. Source: county tax records.