184 Main St · Grambling, LA 71245

$160,000

4 bd · 2.0 ba · 1,780 sqft · MultiFamily public records · 88 Days on market

Built 1958 0.65 ac lot

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Why this score? — see what drove the C+ 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• 1% rule +5.6/10.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

184/186 Main Street, Duplex located near Grambling University. Both units are 2 bedroom, 1 bath. Great investment opportunity.

Key facts

• 0.65 acre lot
• Built 1958
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive. Per door: $171/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#159 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Lincoln Parish (town): math 35% / reading 45% proficiency, ranked #24 of 98 in LA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 33 active listings in the ZIP; 171 units permitted in Lincoln Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (2.8% local appreciation)).
• Lincoln County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 18724% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.14%
• DSCR: 1.41
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 1.88×
• Total profit: $39,336
• Equity at exit: $70,208

10-year hold

• IRR: 17.3%
• Equity multiple: 3.49×
• Total profit: $111,592
• Equity at exit: $106,869

Cash invested: $44,800 (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 71245

• Home prices YoY: 2.6%
• Active inventory: 33
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $1,700 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $341

Break-even live

Break-even rent $1,268

Max offer price $160,000

Occupancy floor 75%

Sensitivity live

Price	-10% $432	-5% $386	+0% $341	+5% $296	+10% $251
Rent	-10% $207	-5% $274	+0% $341	+5% $408	+10% $475
Rate	-1.0pp $422	-0.5pp $382	base $341	+0.5pp $300	+1.0pp $258

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,700
Total (2 units)			$1,700

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-15
   status Pending 126-char remark

   Show marketing remark (126 chars)

   184/186 Main Street, Duplex located near Grambling University. Both units are 2 bedroom, 1 bath. Great investment opportunity.

2. 2026-05-15
   historical $850

   Show marketing remark (126 chars)

   184/186 Main Street, Duplex located near Grambling University. Both units are 2 bedroom, 1 bath. Great investment opportunity.

3. 2026-05-07
   listed $850
4. 2026-04-28
   status Active 126-char remark

   Show marketing remark (126 chars)

   184/186 Main Street, Duplex located near Grambling University. Both units are 2 bedroom, 1 bath. Great investment opportunity.

5. 2026-04-17
   status Pending 126-char remark

   Show marketing remark (126 chars)

   184/186 Main Street, Duplex located near Grambling University. Both units are 2 bedroom, 1 bath. Great investment opportunity.

6. 2026-02-05
   listed $160,000 Active 126-char remark

   Show marketing remark (126 chars)

   184/186 Main Street, Duplex located near Grambling University. Both units are 2 bedroom, 1 bath. Great investment opportunity.

7. 2023-07-10
   soldstatus $1,900,000
8. 2014-07-07
   soldstatus $87,500
9. 2004-11-09
   soldstatus $41,500

ⓘ 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: $1,153 · $96/mo
• Projected year-2 tax: $1,153 · $96/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,400
• − Mortgage interest: −$8,962
• − Property taxes: −$1,153
• − Insurance: −$800
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$4,655
• Taxable income: $1,566
• Est. tax owed @ 24.0%: −$376
• After-tax cash flow: $3,718/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: Lincoln Parish
• NCES district ID: 2200990
• Math proficiency: 35% ▼ -32.00%
• Reading proficiency: 45% ▼ -27.00%
• Median HH income: $33,901
• Composite: 32.92/100
• National rank: #5599
• State rank: #24 of 98 in LA

Livability — Grambling

• Score: 64/100
• State rank: #159
• US rank: #13644

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grambling, LA
• City population: 4,176
• Population (ZIP): 4,176

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 49,595 people
• By 2030: 50,954 · +2.7%
• By 2040: 53,601 · +8.1%
• By 2050: 57,178 · +15.3%
• By 2075: 69,580 · +40.3%
• By 2100: 79,862 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (85%)
• Race & ethnicity: Black 85% White 9% Two or more races 5%
• Common ancestry: Lithuanian 2%
• Foreign-born: 2% · Canada

Political lean MEDSL · Lincoln

• 2024 margin: Strong R (+25.4) · D 36.5% · R 62.0% · Other 1.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -12.5pp · 2024: -25.4pp
• All cycles: 2024: R+25.4 2020: R+19.5 2016: R+19.6 2012: R+14.7 2008: R+12.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.81%
• Current HPI: 110.5684
• Rent YoY: —
• Metro: —
• 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

+285.5% since first listed

9 events — show timeline

• 2026-05-15 Pending — NELABOR
• 2026-05-15 Rental Removed $850 BUILDIUM
• 2026-05-07 Listed for Rent $850 BUILDIUM
• 2026-04-28 Relisted — NELABOR
• 2026-04-17 Pending — NELABOR
• 2026-02-05 Listed $160,000 NELABOR
• 2023-07-10 Sold (Public Records) $1,900,000 Public Records
• 2014-07-07 Sold (Public Records) $87,500 Public Records
• 2004-11-09 Sold (Public Records) $41,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,153 · +0.0% YoY. Source: county tax records.