9747 Grant St

Wilson, LA 70789

$130,000C-

3 bd · 2.0 ba · 1,377 sqft · Built 1968 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,196/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $186/mo
• Annual: $2,226/yr
• Cap rate: 8.01%
• Cash-on-cash: 6.12%
• DSCR: 1.27
• 1% rule: 0.92%
• Cash to close: $36,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $186 ($2k/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 $120k (8.0% below list).
• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (8.0% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 58/100 on livability (#312 in LA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+; Watch: amenities F, commute F, employment F.
• East Feliciana Parish (rural): math 19% / reading 28% proficiency, ranked #62 of 98 in LA (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Feliciana Middle School (math 2% / reading 12%, grade F, #209 of 218 statewide, top 97%, 120 students, 79% FRL) — zoned schools at 79% FRL track the district average.
• Zoned-school proficiency averages 7% at this address vs 24% district-wide (-16 pts) — the specific schools serving this property underperform the East Feliciana Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 5 active listings in the ZIP; 42 units permitted in East Feliciana Parish in 2024 (0 in 5+ unit buildings).
• East Feliciana County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 21y 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 $52k; list at $130k implies a 150% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k 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; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.