141 Mckay Ln

Center Point, LA 71331

$123,000D

3 bd · 2.0 ba · 1,148 sqft · Built 2006 · Manufactured · Pending · 273 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,043/mo
• Mortgage (P&I): −$645
• Tax + insurance: −$205
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-26/mo
• Annual: $-316/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $34,440

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $123k.
• At list price, monthly cash flow is $-26 ($-316/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (15.2% below list).
• It's been on market 273 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (15.2% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($850 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#344 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• Avoyelles Parish (rural): math 22% / reading 30% proficiency, ranked #56 of 98 in LA (top 57%) — 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: Lafargue Elementary School (math 34% / reading 47%, grade F, #218 of 646 statewide, top 34%, 556 students, 54% FRL); Marksville High School (math 16% / reading 20%, grade F, #196 of 265 statewide, top 74%, 675 students, 59% FRL) — zoned schools average 57% FRL vs 75% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; 15 units permitted in Avoyelles Parish in 2024 (0 in 5+ unit buildings).
• Avoyelles County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $64k; list at $123k implies a 92% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k 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

• 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?
• It's been on market 273 days. Have you received any prior offers? Is the seller open to a 15% 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?
• 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?
• 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.