410 Claudine St

Richmond, LA 71282

$59,900B+

4 bd · 2.0 ba · 1,500 sqft · Built — · SingleFamily · Pending · 152 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,433/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$511
• Net cashflow: $1,474/mo
• Annual: $17,692/yr
• Cap rate: 35.83%
• Cash-on-cash: 105.49%
• DSCR: 5.69
• 1% rule: 4.06%
• Cash to close: $16,772

Investor read

• This is a 4-bed/2.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• It's been on market 152 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($414 loan paydown + $1k appreciation (1.9% local appreciation)).
• Location reads 53/100 on livability (#392 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, crime F, amenities F.
• Madison Parish (town): math 3% / reading 10% proficiency, ranked #98 of 98 in LA (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tallulah Elementary School (math 2% / reading 8%, grade F, #633 of 646 statewide, top 99%, 346 students, 90% FRL); Madison Middle School (math 8% / reading 12%, grade F, #202 of 218 statewide, top 93%, 244 students, 88% FRL); Madison High School (math 2% / reading 12%, grade F, #251 of 265 statewide, top 97%, 364 students, 88% FRL) — zoned schools at 88% FRL track the district average.
• Market conditions: 25 active listings in the ZIP; 2 units permitted in Madison Parish in 2024 (0 in 5+ unit buildings).
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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.