156 Mack Ln · Spearsville, LA 71277

$115,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 5 Days on market

Manufactured home Built 2002 5.00 ac lot ↓ 4% since listing

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Why this score? — see what drove the D- 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 +10.5/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Schools +1.3/10.0

Listing remarks

Peaceful Country Living on 5 Acres! This well-maintained 2002 manufactured home offers 3 bedrooms, 2 bathrooms, and the privacy you've been searching for in Union Parish. Situated at the end of a long private drive, this property provides a quiet, peaceful setting with plenty of room to enjoy the outdoors while still being eligible for FHA financing. Inside, you'll find a desirable split-floor plan designed for both comfort and functionality. In addition to the spacious living areas, there's a versatile 13 x 14 bonus room that could easily serve as a home office, craft room, playroom, or home gym that isn't included in the hsf. The owner reports the home was ordered with extra insulation fo

Key facts

• Long private drive
• Split-floor plan
• Extra insulation

Tags

• 5 ACRES
• LONG PRIVATE DRIVE
• SPLIT-FLOOR PLAN
• VERSATILE BONUS ROOM
• EXTRA INSULATION
• 3 YEAR OLD ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $-58 ($-701/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $79k (30.9% below list).
• Recommended offer: $79k (30.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 49/100 on livability (#437 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, amenities F, commute F.
• Union Parish (rural): math 12% / reading 20% proficiency, ranked #74 of 98 in LA (top 76%) — 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.
• Zoned schools: Union Parish Elementary School (math 4% / reading 8%, grade F, #630 of 646 statewide, top 98%, 659 students, 58% FRL); Union Parish High School (math 8% / reading 16%, grade F, #235 of 265 statewide, top 90%, 745 students, 52% FRL) — zoned schools average 55% FRL vs 76% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 16 active listings in the ZIP; 2 units permitted in Union Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (2.6% local appreciation)).
• Union County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $79,409 (30.9% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.69% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.57% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.23×
• Total profit: $7,500
• Equity at exit: $48,965

10-year hold

• IRR: 7.5%
• Equity multiple: 2.09×
• Total profit: $35,116
• Equity at exit: $73,394

Cash invested: $32,200 (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 71277

• Home prices YoY: 2.1%
• Active inventory: 16
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $794 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$35 /mo · $417/yr
• Insurance: −$48
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $-58

Break-even live

Break-even rent $868

Max offer price $104,683

Occupancy floor —

Sensitivity live

Price	-10% $7	-5% $-26	+0% $-58	+5% $-91	+10% $-124
Rent	-10% $-121	-5% $-90	+0% $-58	+5% $-27	+10% $4
Rate	-1.0pp $0	-0.5pp $-29	base $-58	+0.5pp $-88	+1.0pp $-119

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-23
   days on market $115,000 Active 5 DOM
2. 2026-06-21
   days on market $115,000 Active 4 DOM
3. 2026-06-19
   days on market $115,000 Active 2 DOM
4. 2026-06-18
   remarks 699-char remark
5. 2026-06-18
   pricedays on marketlisting id $115,000 Active 1 DOM
6. 2026-06-15
   days on market $113,900 Active 103 DOM
7. 2026-06-14
   days on market $113,900 Active 101 DOM
8. 2026-06-13
   days on market $113,900 Active 100 DOM
9. 2026-06-10
   days on market $113,900 Active 98 DOM
10. 2026-06-09
    days on market $113,900 Active 97 DOM
11. 2026-06-08
    days on market $113,900 Active 96 DOM
12. 2026-06-07
    statusdays on market $113,900 Active 95 DOM
13. 2026-04-24
    status Pending
14. 2026-04-14
    price $113,900
15. 2026-01-20
    listed $118,900 Active

ⓘ 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: $417 · $35/mo
• Projected year-2 tax: $632 · $53/mo
• Expected delta: +$216/yr (+$18/mo · 51.7%)

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

Taxation est. · year 1

• Rental income: $9,529
• − Mortgage interest: −$6,442
• − Property taxes: −$417
• − Insurance: −$575
• − Repairs & maintenance: −$762
• − Management: −$762
• − Depreciation: −$3,345
• Taxable loss: −$2,775
• Est. tax savings @ 24.0%: +$666
• After-tax cash flow: $-35/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: Union Parish
• NCES district ID: 2201770
• Math proficiency: 12% ▼ -37.00%
• Reading proficiency: 20% ▼ -34.00%
• Median HH income: $37,279
• Composite: 13.35/100
• National rank: #9537
• State rank: #74 of 98 in LA

Livability — Spearsville

• Score: 49/100
• State rank: #437
• US rank: #25965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,792

Population outlook (Union County) Hauer SSP2

• Today (2025): 21,722 people
• By 2030: 21,226 · -2.3%
• By 2040: 20,026 · -7.8%
• By 2050: 18,682 · -14.0%
• By 2075: 15,725 · -27.6%
• By 2100: 12,509 · -42.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 42% White 37% Hispanic / Latino 20% Two or more races 10%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · Spanish 8% French/Haitian/Cajun 1%

Political lean MEDSL · Union

• 2024 margin: Solid R (+57.0) · D 21.1% · R 78.0%
• 2008→2024 swing: -15.4pp toward R · 2008: -41.5pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+51.4 2016: R+48.5 2012: R+41.7 2008: R+41.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.57%
• Current HPI: 122.4578
• 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

-4.2% since first listed

3 events — show timeline

• 2026-04-24 Pending — NELABOR
• 2026-04-14 Price Changed $113,900 NELABOR
• 2026-01-20 Listed $118,900 NELABOR

Property tax history

+3.2%/yr

Latest (2025): $417 · +0.0% YoY. Source: county tax records.