11710 Hideaway Rd

Mer Rouge, LA 71261

$61,500B

1 bd · 1.0 ba · 640 sqft · Built 1965 · Other · Pending · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $764/mo
• Mortgage (P&I): −$323
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$160
• Net cashflow: $158/mo
• Annual: $1,901/yr
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• 1% rule: 1.24%
• Cash to close: $17,220

Investor read

• This is a 1-bed/1.0-bath other listed at $62k.
• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($764 rent vs $62k).
• It's been on market 82 days — a 6% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($425 loan paydown + $2k appreciation (2.7% local appreciation)).
• Location reads 57/100 on livability (#325 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety D, crime F, amenities F.
• Morehouse Parish (town): math 10% / reading 19% proficiency, ranked #83 of 98 in LA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Morehouse Elementary School (math 3% / reading 9%, grade F, #630 of 646 statewide, top 98%, 587 students, 6% FRL); Bastrop High School (math 3% / reading 7%, grade F, #260 of 265 statewide, top 100%, 902 students, 6% FRL) — zoned schools average 6% FRL vs 78% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 10 active listings in the ZIP; 11 units permitted in Morehouse Parish in 2024 (0 in 5+ unit buildings).
• Morehouse County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $12k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; major wind risk, 74% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 D-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.