Kirkland IV G Plan

Maurice, LA 70555

$202,990D

3 bd · 2.0 ba · 1,192 sqft · Built — · SingleFamily · Active · 947 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,089/mo
• Mortgage (P&I): −$1,187
• Tax + insurance: −$377
• HOA: −$0
• Vac / Maint / Mgmt: −$439
• Net cashflow: $86/mo
• Annual: $1,029/yr
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• 1% rule: 0.92%
• Cash to close: $63,403

Investor read

• This is a 3-bed/2.0-bath single-family listed at $203k. Condition is rated poor.
• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $203k).
• It's been on market 947 days — a 12% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $179k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#15 in LA, #3,333 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Vermilion Parish (town): math 40% / reading 53% proficiency, ranked #15 of 98 in LA (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 248 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 228 units permitted in Vermilion Parish in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent runs 33% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 947 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Signs of significant wear and tear.
• Major: siding — Aging and potential damage.
• Major: landscaping — Sparse and unkempt, needs significant improvement.
• Major: exterior walls — Aging and potential damage to the exterior walls.
• Major: interior walls — No visible condition assessment, but likely in poor condition based on exterior condition.
• Major: paint — No visible condition assessment, but likely in poor condition based on exterior condition.