191 Landon Ln

Sunset, LA 70584

$95,000B

3 bd · 2.0 ba · 1,216 sqft · Built — · Manufactured · Active · 216 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $395/mo
• Annual: $4,744/yr
• Cap rate: 11.29%
• Cash-on-cash: 17.83%
• DSCR: 1.79
• 1% rule: 1.29%
• Cash to close: $26,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $95k.
• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 216 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#90 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: employment D+, amenities F, commute F.
• St. Landry Parish (town): math 20% / reading 33% proficiency, ranked #54 of 98 in LA (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cankton Elementary School (math 22% / reading 32%, grade F, #359 of 646 statewide, top 57%, 569 students, 73% FRL); Sunset Middle School (math 16% / reading 30%, grade F, #145 of 218 statewide, top 69%, 407 students, 74% FRL); Beau Chene High School (math 22% / reading 29%, grade F, #149 of 265 statewide, top 56%, 891 students, 58% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: 103 active listings in the ZIP; 142 units permitted in St. Landry Parish in 2024 (0 in 5+ unit buildings).
• St. Landry County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $19k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.3% vs local median 1.9% in Sunset — 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.

Questions for listing agent

• It's been on market 216 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.
• 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.