304 Nolan Trce · Leesville, LA 71446

$75,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 310 Days on market

Fair condition 0.37 ac lot $62/sqft · 50% below area ↓ 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• 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. Condition is rated fair.

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 5.5% 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); 249 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 93d 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 310 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 310 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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): $150,342
• List price: $75,000
• Delta: -50.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 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%)	13mo	$150,000	$125	78
805 Dennis Ave	0.99mi	3/1.0	1,231 (+3%)	5mo	$91,000	$74	56
1201 John Paul Jones Ave	0.93mi	3/1.0	1,221 (+2%)	8mo	$143,000	$117	55
106 Powell	1.05mi	3/2.0	1,244 (+4%)	2mo	$164,000	$132	53
512 Whittington St	0.98mi	3/1.5	1,208 (+1%)	10mo	$60,000	$50	53
208 N 1st St	0.43mi	4/3.0 (+1)	1,263 (+5%)	8mo	$168,000	$133	51
1007 W Union St	0.51mi	3/1.5	1,353 (+13%)	3mo	$140,000	$103	50
105 Nelda St	1.04mi	3/1.5	1,135 (-5%)	11mo	$135,500	$119	45
800 Marvin Ave	1.07mi	3/2.0	1,100 (-8%)	8mo	$125,000	$114	40
214 Carl	1.06mi	3/2.0	1,348 (+12%)	3mo	$50,000	$37	38
103 Powell Dr	1.05mi	3/1.5	975 (-19%)	10mo	$115,000	$118	29
112 Herring St	0.83mi	3/1.5	1,350 (+12%)	18mo	$134,000	$99	27

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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 14 active · 1 under contract
• Months of supply: 42.0 mo (2%/mo absorbed)
• Median asking: $117,700 ($102/sqft)
• Median days on market: 161 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: +23.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 71446

• Home prices YoY: -32.1%
• Rents YoY: 9.6%
• Active inventory: 249
• 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
• Club membership (one-time): —
• 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	93d	1	0.14mi
306 W Harriet St Apt 6 Leesville, LA	2.0	1.5	840	$650	$0.77	93d	1	0.16mi
207 Belview Rd Leesville, LA	3.0	1.5	1300	$1,200	$0.92	93d	1	0.77mi
10 Katherine Loop Leesville, LA	3.0	2.0	1106	$1,100	$0.99	93d	1	0.89mi
347 Watson Rd Unit 12 Leesville, LA	2.0	1.0	1160	$575	$0.50	93d	1	1.14mi
347 Watson Rd Unit 20 Leesville, LA	3.0	1.0	1160	$595	$0.51	93d	1	1.14mi
1403 Aaron St Leesville, LA	3.0	1.0	926	$1,050	$1.13	93d	1	1.21mi

Listing history 50 events

1. 2026-08-08
   days on market $75,000 Active 310 DOM
2. 2026-08-07
   days on market $75,000 Active 309 DOM
3. 2026-08-06
   days on market $75,000 Active 308 DOM
4. 2026-08-05
   days on market $75,000 Active 307 DOM
5. 2026-08-04
   days on market $75,000 Active 306 DOM
6. 2026-08-03
   days on market $75,000 Active 305 DOM
7. 2026-07-31
   days on market $75,000 Active 302 DOM
8. 2026-07-30
   days on market $75,000 Active 301 DOM
9. 2026-07-29
   days on market $75,000 Active 300 DOM
10. 2026-07-27
    days on market $75,000 Active 298 DOM
11. 2026-07-25
    days on market $75,000 Active 296 DOM
12. 2026-07-24
    days on market $75,000 Active 295 DOM
13. 2026-07-23
    days on market $75,000 Active 294 DOM
14. 2026-07-22
    days on market $75,000 Active 293 DOM
15. 2026-07-21
    days on market $75,000 Active 292 DOM
16. 2026-07-18
    days on market $75,000 Active 289 DOM
17. 2026-07-16
    days on market $75,000 Active 287 DOM
18. 2026-07-15
    days on market $75,000 Active 286 DOM
19. 2026-07-14
    days on market $75,000 Active 285 DOM
20. 2026-07-13
    days on market $75,000 Active 284 DOM
21. 2026-07-12
    days on market $75,000 Active 283 DOM
22. 2026-07-12
    days on market $75,000 Active 282 DOM
23. 2026-07-11
    days on market $75,000 Active 281 DOM
24. 2026-07-09
    days on market $75,000 Active 280 DOM
25. 2026-07-08
    days on market $75,000 Active 279 DOM
26. 2026-07-07
    days on market $75,000 Active 278 DOM
27. 2026-07-06
    days on market $75,000 Active 277 DOM
28. 2026-07-05
    days on market $75,000 Active 276 DOM
29. 2026-07-04
    days on market $75,000 Active 275 DOM
30. 2026-07-03
    days on market $75,000 Active 274 DOM
31. 2026-07-03
    days on market $75,000 Active 273 DOM
32. 2026-07-01
    days on market $75,000 Active 272 DOM
33. 2026-06-30
    days on market $75,000 Active 271 DOM
34. 2026-06-29
    days on market $75,000 Active 270 DOM
35. 2026-06-28
    days on market $75,000 Active 269 DOM
36. 2026-06-27
    days on market $75,000 Active 268 DOM
37. 2026-06-26
    days on market $75,000 Active 266 DOM
38. 2026-06-22
    days on market $75,000 Active 263 DOM
39. 2026-06-19
    days on market $75,000 Active 260 DOM
40. 2026-06-18
    days on market $75,000 Active 259 DOM
41. 2026-06-17
    days on market $75,000 Active 258 DOM
42. 2026-06-16
    days on market $75,000 Active 257 DOM
43. 2026-06-15
    days on market $75,000 Active 256 DOM
44. 2026-06-14
    days on market $75,000 Active 254 DOM
45. 2026-06-12
    days on market $75,000 Active 253 DOM
46. 2026-06-09
    days on market $75,000 Active 250 DOM
47. 2026-06-08
    days on market $75,000 Active 249 DOM
48. 2026-06-07
    days on market $75,000 Active 248 DOM
49. 2026-06-07
    days on market $75,000 Active 247 DOM
50. 2026-06-04
    days on market $75,000 Active 244 DOM

ⓘ 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.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab Est. rehab $30,000–$54,000 screening

This 2-bedroom, 1-bath home requires moderate repairs and maintenance, particularly in the kitchen and bathroom. Painting and cleaning would significantly improve its appearance and value.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $500–$2,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.

Repairs flagged

• Major Kitchen sink — Old-style farm sink
• Minor Bathroom walls — Worn paint

Value-add opportunities

• Both Painting and cleaning — Fresh paint and cleaning would improve curb appeal and interior condition ↑
• Both Landscaping — Well-maintained landscaping would enhance curb appeal and property value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary East Leesville Elementary School Middle Leesville Junior High School F LA #95/218 Nat'l #7,813/14,009 High Leesville High School F LA #66/265 Nat'l #7,439/17,239

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

B Composite livability gradescore 73/100

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 · 45,401 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: 9% of renters

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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%

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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%

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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

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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.