304 Nolan Trce · Leesville, LA 71446

$75,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 260 Days on market

0.37 ac lot $62/sqft · 50% below area Est $150k · 50% under ↓ 24% since listing

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Why this score? — see what drove the B+ 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Rent growth +4.9/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A charming blend of original character and functional living, this 2-bedroom, 1-bath home sits in a convenient Leesville location and offers warm, inviting spaces with classic features that are hard to find A large central living area welcomes you inside, offering plenty of room for comfortable seating, entertainment, and everyday gathering. Beautiful French doors open into an oversized dining room that can easily serve as a third bedroom, home office, or flex space depending on your needs. The kitchen features an old-style farm sink, adding vintage appeal and functionality. Authentic hardwood flooring runs throughout the home, adding warmth, character, and timeless style in every room. A spacious covered porch provides the perfect spot for morning coffee or evening entertaining.

Key facts

• 0.49-acre lot
• Minutes from schools
• 0.37 acre lot

Tags

• 0.49-ACRE LOT
• ORIGINAL HARDWOOD FLOORS
• MINUTES FROM SCHOOLS
• MINUTES FROM SHOPPING
• MINUTES FROM FORT JOHNSON

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 7.3% in Leesville — 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 73/100 on livability (#30 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Vernon Parish (rural): math 35% / reading 51% proficiency, ranked #18 of 98 in LA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosepine Elementary School (math 25% / reading 50%, grade F, #247 of 646 statewide, top 39%, 830 students, 55% FRL); Vernon Middle School (math 30% / reading 41%, grade F, #91 of 218 statewide, top 42%, 477 students, 60% FRL); Leesville High School (math 32% / reading 54%, grade F, #66 of 265 statewide, top 25%, 884 students, 47% FRL).
• Market conditions: Rents rising fast (+9.6%/yr); 210 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 26 units permitted in Vernon Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Vernon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 12.41%
• Cash-on-cash: 21.85%
• DSCR: 1.97
• GRM: 5.9

CMA / ARV

• ARV (median comp): $149,577
• List price: $75,000
• Delta: -49.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 W Harriet St	0.19mi	3/1.5	1,200 (0%)	11mo	$150,000	$125	80
208 N 1st St	0.43mi	4/3.0 (+1)	1,263 (+5%)	7mo	$168,000	$133	53
1007 W Union St	0.51mi	3/1.5	1,353 (+13%)	2mo	$140,000	$103	52
125 Carver Dr	0.73mi	3/1.0	1,285 (+7%)	22mo	$150,000	$117	36

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.85×
• Total profit: $17,817
• Equity at exit: $11,183

10-year hold

• IRR: 31.0%
• Equity multiple: 4.45×
• Total profit: $72,436
• Equity at exit: $6,485

Cash invested: $21,000 (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 71446

• Home prices YoY: -32.1%
• Rents YoY: 9.6%
• Active inventory: 210
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,066 high
• Mortgage (P&I): −$393
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $382

Break-even live

Break-even rent $582

Max offer price $75,000

Occupancy floor 59%

Sensitivity live

Price	-10% $425	-5% $404	+0% $382	+5% $361	+10% $340
Rent	-10% $298	-5% $340	+0% $382	+5% $425	+10% $467
Rate	-1.0pp $420	-0.5pp $401	base $382	+0.5pp $363	+1.0pp $343

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 W Maggie St Apt 3 Leesville, LA	2.0	1.5	840	$600	$0.71	45d	1	0.14mi
306 W Harriet St Apt 6 Leesville, LA	2.0	1.5	840	$650	$0.77	45d	1	0.16mi
207 Belview Rd Leesville, LA	3.0	1.5	1300	$1,200	$0.92	45d	1	0.77mi
10 Katherine Loop Leesville, LA	3.0	2.0	1106	$1,100	$0.99	45d	1	0.89mi
347 Watson Rd Unit 12 Leesville, LA	2.0	1.0	1160	$575	$0.50	45d	1	1.14mi
347 Watson Rd Unit 20 Leesville, LA	3.0	1.0	1160	$595	$0.51	45d	1	1.14mi
1403 Aaron St Leesville, LA	3.0	1.0	926	$1,050	$1.13	45d	1	1.21mi

Listing history 18 events

1. 2026-06-19
   days on market $75,000 Active 260 DOM
2. 2026-06-18
   days on market $75,000 Active 259 DOM
3. 2026-06-17
   days on market $75,000 Active 258 DOM
4. 2026-06-16
   days on market $75,000 Active 257 DOM
5. 2026-06-15
   days on market $75,000 Active 256 DOM
6. 2026-06-14
   days on market $75,000 Active 254 DOM
7. 2026-06-12
   days on market $75,000 Active 253 DOM
8. 2026-06-09
   days on market $75,000 Active 250 DOM
9. 2026-06-08
   days on market $75,000 Active 249 DOM
10. 2026-06-07
    days on market $75,000 Active 248 DOM
11. 2026-06-07
    days on market $75,000 Active 247 DOM
12. 2026-06-04
    days on market $75,000 Active 244 DOM
13. 2026-06-02
    days on market $75,000 Active 243 DOM
14. 2026-06-01
    days on market $75,000 Active 242 DOM
15. 2026-05-31
    days on market $75,000 Active 241 DOM
16. 2026-05-31
    days on market $75,000 Active 240 DOM
17. 2026-01-17
    price $75,000 790-char remark

    Show marketing remark (790 chars)

    A charming blend of original character and functional living, this 2-bedroom, 1-bath home sits in a convenient Leesville location and offers warm, inviting spaces with classic features that are hard to find A large central living area welcomes you inside, offering plenty of room for comfortable seating, entertainment, and everyday gathering. Beautiful French doors open into an oversized dining room that can easily serve as a third bedroom, home office, or flex space depending on your needs. The kitchen features an old-style farm sink, adding vintage appeal and functionality. Authentic hardwood flooring runs throughout the home, adding warmth, character, and timeless style in every room. A spacious covered porch provides the perfect spot for morning coffee or evening entertaining.

18. 2025-10-02
    listed $99,200 Active 790-char remark

    Show marketing remark (790 chars)

    A charming blend of original character and functional living, this 2-bedroom, 1-bath home sits in a convenient Leesville location and offers warm, inviting spaces with classic features that are hard to find A large central living area welcomes you inside, offering plenty of room for comfortable seating, entertainment, and everyday gathering. Beautiful French doors open into an oversized dining room that can easily serve as a third bedroom, home office, or flex space depending on your needs. The kitchen features an old-style farm sink, adding vintage appeal and functionality. Authentic hardwood flooring runs throughout the home, adding warmth, character, and timeless style in every room. A spacious covered porch provides the perfect spot for morning coffee or evening entertaining.

ⓘ 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: $422 · $35/mo
• Projected year-2 tax: $422 · $35/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 8/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $12,792
• − Mortgage interest: −$4,201
• − Property taxes: −$422
• − Insurance: −$375
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$2,182
• Taxable income: $3,565
• Est. tax owed @ 24.0%: −$856
• After-tax cash flow: $3,733/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: Vernon Parish
• NCES district ID: 2201830
• Math proficiency: 35% ▼ -42.00%
• Reading proficiency: 51% ▼ -32.00%
• Median HH income: $44,822
• Composite: 36.42/100
• National rank: #4674
• State rank: #18 of 98 in LA

Livability — Leesville

• Score: 73/100
• State rank: #30
• US rank: #5046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesville, LA
• County: Vernon Parish · 21,275 people
• City population: 21,275
• Metro: Fort Polk South, LA
• Population (ZIP): 21,275
• Household income: $55,925
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 659.0

Population outlook (Vernon County) Hauer SSP2

• Today (2025): 45,401 people
• By 2030: 43,015 · -5.3%
• By 2040: 38,171 · -15.9%
• By 2050: 34,087 · -24.9%
• By 2075: 28,267 · -37.7%
• By 2100: 25,486 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 6% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada, South Korea, Vietnam
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Vernon

• 2024 margin: Solid R (+67.9) · D 15.6% · R 83.4% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -53.4pp · 2024: -67.9pp
• All cycles: 2024: R+67.9 2020: R+64.9 2016: R+65.0 2012: R+57.5 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.06%
• Current HPI: 128.8849
• Rent YoY: ▲ 9.60%
• Metro: Fort Polk South, 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

-24.4% since first listed

2 events — show timeline

• 2026-01-17 Price Changed $75,000 GFPAR
• 2025-10-02 Listed $99,200 GFPAR

Property tax history

+0.7%/yr

Latest (2025): $422 · -0.8% YoY. Source: county tax records.