8764 Thelma St · Baton Rouge, LA 70807

$35,000

2 bd · 1.0 ba · 900 sqft · SingleFamily · 48 Days on market

Built 1975 5,662 sqft lot $39/sqft · 46% below area Est $65k · 46% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Investment opportunity! 2-bedroom, 1-bath home with approximately 900 sq ft. Property needs renovations and offers strong value-add potential. Conveniently located across from Anna T. Jordan Community Park. Measurements are not warranted by owner nor realtor

Key facts

• 5,662 sq ft lot
• Built 1975
• Listed 48 days

Tags

• INVESTMENT OPPORTUNITY
• STRONG VALUE-ADD POTENTIAL

Property features AI

Finance

• Other: Approximately 900 interior square feet
• Financial info: Details not provided
• HOA & community: Details not provided

Exterior

• Parking: Driveway
• Security: Details not provided
• Utilities: Public water; Public sewer
• Home design: Detached single-family residence; Residential property
• Construction: Vinyl siding exterior; Other foundation
• Exterior features: Lot in Jordan Terrace subdivision; Lot dimensions approximately 40 x 120 (0.13 acre)

Interior

• Kitchen: Details not provided
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: No central heating or cooling
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.3% vs local median 4.3% in Baton Rouge — 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.

Location & tenants

• Location reads 74/100 on livability (#24 in LA, #4,535 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: amenities D, crime F, employment D-.
• East Baton Rouge Parish (urban): math 22% / reading 34% proficiency, ranked #47 of 98 in LA (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Progress Elementary School (math 22% / reading 27%, grade F, #384 of 646 statewide, top 62%, 330 students, 93% FRL); Park Forest Middle School (math 3% / reading 12%, grade F, #207 of 218 statewide, top 95%, 582 students, 78% FRL); Liberty High School (math 50% / reading 74%, grade B-, #15 of 265 statewide, top 6%, 1,208 students, 60% FRL) — zoned schools at 77% FRL track the district average.
• Market conditions: 102 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• At $1,058/mo this rent would consume 46% of the median local household income ($28k/yr) (locally 1092% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $242 of loan paydown is wiped out by about $305 of value loss. Plan a longer hold.
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.9% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 59% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 3.02% ✓
• Cap rate: 27.28%
• Cash-on-cash: 74.96%
• DSCR: 4.34
• GRM: 2.8

CMA / ARV

• ARV (median comp): $65,044
• List price: $35,000
• Delta: -46.19%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1677 78th Ave	0.56mi	3/1.5 (+1)	969 (+8%)	4mo	$125,000	$129	50
2834 Andover St	0.70mi	3/2.0 (+1)	1,000 (+11%)	20mo	$95,000	$95	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 76.4%
• Equity multiple: 4.73×
• Total profit: $36,561
• Equity at exit: $8,665

10-year hold

• IRR: 78.7%
• Equity multiple: 9.69×
• Total profit: $85,121
• Equity at exit: $9,285

Cash invested: $9,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70807

• Home prices YoY: -1.1%
• Active inventory: 102
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$184
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $612

Break-even live

Break-even rent $284

Max offer price $35,000

Occupancy floor 37%

Sensitivity live

Price	-10% $632	-5% $622	+0% $612	+5% $602	+10% $592
Rent	-10% $529	-5% $570	+0% $612	+5% $654	+10% $696
Rate	-1.0pp $630	-0.5pp $621	base $612	+0.5pp $603	+1.0pp $594

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1555 Swan Ave Baton Rouge, LA	1.0	1.0	800	$900	$1.12	25d	1	0.25mi
2203 Fairchild St Baton Rouge, LA	2.0	1.0	800	$1,000	$1.25	45d	1	0.41mi
947 Grebe St Unit 4 Baton Rouge, LA	2.0	1.0	650	$1,050	$1.62	20d	1	0.57mi
715 Central Rd Baton Rouge, LA	3.0	1.0	950	$1,200	$1.26	45d	1	0.88mi
2319 Elm Park Dr Baton Rouge, LA	2.0	1.0	800	$750	$0.94	45d	1	0.94mi

Listing history 20 events

1. 2026-06-22
   days on market $35,000 Active 48 DOM
2. 2026-06-18
   days on market $35,000 Active 45 DOM
3. 2026-06-17
   days on market $35,000 Active 44 DOM
4. 2026-06-16
   days on market $35,000 Active 43 DOM
5. 2026-06-15
   days on market $35,000 Active 42 DOM
6. 2026-06-14
   days on market $35,000 Active 40 DOM
7. 2026-06-10
   days on market $35,000 Active 37 DOM
8. 2026-06-09
   days on market $35,000 Active 36 DOM
9. 2026-06-08
   days on market $35,000 Active 35 DOM
10. 2026-06-07
    days on market $35,000 Active 34 DOM
11. 2026-06-05
    days on market $35,000 Active 31 DOM
12. 2026-06-03
    days on market $35,000 Active 30 DOM
13. 2026-06-02
    days on market $35,000 Active 29 DOM
14. 2026-06-01
    days on market $35,000 Active 28 DOM
15. 2026-05-31
    days on market $35,000 Active 27 DOM
16. 2026-05-31
    days on market $35,000 Active 26 DOM
17. 2026-05-05
    price $35,000 258-char remark

    Show marketing remark (258 chars)

    Investment opportunity! 2-bedroom, 1-bath home with approximately 900 sq ft. Property needs renovations and offers strong value-add potential. Conveniently located across from Anna T. Jordan Community Park. Measurements are not warranted by owner nor realtor

18. 2026-05-05
    price $35,000 258-char remark

    Show marketing remark (258 chars)

    Investment opportunity! 2-bedroom, 1-bath home with approximately 900 sq ft. Property needs renovations and offers strong value-add potential. Conveniently located across from Anna T. Jordan Community Park. Measurements are not warranted by owner nor realtor

19. 2026-05-04
    listed $22,000 Active 258-char remark

    Show marketing remark (258 chars)

    Investment opportunity! 2-bedroom, 1-bath home with approximately 900 sq ft. Property needs renovations and offers strong value-add potential. Conveniently located across from Anna T. Jordan Community Park. Measurements are not warranted by owner nor realtor

20. 2026-05-04
    listed $22,000 Active 258-char remark

    Show marketing remark (258 chars)

    Investment opportunity! 2-bedroom, 1-bath home with approximately 900 sq ft. Property needs renovations and offers strong value-add potential. Conveniently located across from Anna T. Jordan Community Park. Measurements are not warranted by owner nor realtor

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $310 · $26/mo
• Projected year-2 tax: $310 · $26/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,701
• − Mortgage interest: −$1,961
• − Property taxes: −$310
• − Insurance: −$175
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,018
• Taxable income: $7,204
• Est. tax owed @ 24.0%: −$1,729
• After-tax cash flow: $5,617/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: East Baton Rouge Parish
• NCES district ID: 2200540
• Math proficiency: 22% ▼ -36.00%
• Reading proficiency: 34% ▼ -31.00%
• Median HH income: $46,263
• Composite: 24.14/100
• National rank: #7745
• State rank: #47 of 98 in LA

Livability — Baton Rouge

• Score: 74/100
• State rank: #24
• US rank: #4535

Category grades

Amenities D Commute A+ Cost of living A+ Crime F Employment D- Housing A Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baton Rouge, LA
• County: East Baton Rouge Parish · 399,686 people
• City population: 351,868
• Metro: Baton Rouge, LA
• Population (ZIP): 15,300
• Household income: $27,534
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 1092.0

Population outlook (East Baton Rouge County) Hauer SSP2

• Today (2025): 464,810 people
• By 2030: 472,137 · +1.6%
• By 2040: 480,243 · +3.3%
• By 2050: 484,422 · +4.2%
• By 2075: 492,069 · +5.9%
• By 2100: 476,347 · +2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (91%)
• Race & ethnicity: Black 91% Two or more races 6% White 3%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · East Baton Rouge

• 2024 margin: D (+11.1) · D 54.5% · R 43.4% · Other 2.1%
• 2008→2024 swing: +8.9pp toward D · 2008: 2.2pp · 2024: 11.1pp
• All cycles: 2024: D+11.1 2020: D+13.1 2016: D+9.2 2012: D+5.2 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.87%
• Current HPI: 78.3629
• Rent YoY: —
• Metro: Baton Rouge, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+59.1% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $35,000 AcadianaMLS
• 2026-05-05 Price Changed $35,000 GBRMLS
• 2026-05-04 Listed $22,000 GBRMLS
• 2026-05-04 Listed $22,000 AcadianaMLS

Property tax history

+2.4%/yr

Latest (2025): $310 · +4.7% YoY. Source: county tax records.