5113 Nicholson Dr Unit A-46 · Baton Rouge, LA 70820

$127,500

2 bd · 2.0 ba · 980 sqft · Condo public records · 10 Days on market

Built 1985 $363/mo HOA · 29% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• 1% rule +4.9/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location. Convenience. Opportunity. Welcome to this 2 bedroom, 2 bathroom condo just minutes from Louisiana State University--only 1 mile away and perfectly positioned on the LSU bus route for easy access to campus. This move-in ready condo is an ideal fit for students, game-day buyers, or savvy investors looking for a high-demand rental property in Baton Rouge. Inside, you'll find a spacious living area anchored by a cozy fireplace, creating the perfect space to relax or entertain. Step outside onto your private balcony--ideal for morning coffee or unwinding after a long day. Enjoy the ease of no carpet throughout, offering both low maintenance and a clean, modern feel. The layout features a spacious primary suite, providing a comfortable retreat, along with a second generously sized bedroom and full bath--perfect for roommates or guests. Additional highlights include in-unit laundry for everyday convenience and a new HVAC system installed in July 2024, giving peace of mind and energy efficiency. Located in a well-maintained community with strong rental appeal, this property offers both lifestyle and investment upside in one of Baton Rouge's most sought-after locations. Spacious balconies/patios (2), perfect for relaxing or entertaining. You & your guests can cool off on warm Louisiana days in the sparkling community swimming pool. Whether you're a student, professional, or investor, this condo is a must-see in one of Baton Rouge's most desirable communities.Opportunities like this--this close to LSU--don't last long. Schedule your private showing today.

Key facts

• $363 HOA
• Built 1985
• Listed 10 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $128k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (0.7% below list).
• Recommended offer: $94k (26.4% below list) — sets the bar for cash-flow.

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.
• Market conditions: Rents rising (+2.8%/yr); 315 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• This rent runs 32% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $106k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% 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 $93,870 (26.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
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 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: 0.99% ✗
• Cap rate: 4.50%
• Cash-on-cash: -6.40%
• DSCR: 0.72
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.79% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.08×
• Total profit: $-32,843
• Equity at exit: $19,011

10-year hold

• IRR: -25.8%
• Equity multiple: -0.25×
• Total profit: $-44,453
• Equity at exit: $11,024

Cash invested: $35,700 (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 70820

• Home prices YoY: -29.9%
• Rents YoY: 2.8%
• Active inventory: 315
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,266 high
• Mortgage (P&I): −$669
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$53
• HOA: −$363
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-190

Break-even live

Break-even rent $1,507

Max offer price $93,870

Occupancy floor —

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5107 Nicholson Dr Unit A31 Baton Rouge, LA	1.0	1.0	741	$1,050	$1.42	44d	1	0.06mi
1714 Brightside Dr Unit A Baton Rouge, LA	2.0	1.5	1050	$1,025	$0.98	44d	1	0.38mi
1724 Brightside Dr Apt A Baton Rouge, LA	2.0	1.5	1050	$1,025	$0.98	23d	1	0.38mi
1704 Brightside Dr Unit C Baton Rouge, LA	2.0	2.0	1088	$1,175	$1.08	21d	1	0.40mi
1645 Brightside Dr Baton Rouge, LA	1.0	1.0	650	$905	$1.39	44d	2	0.44mi
1855 Brightside Dr Unit 3BR 15 BA Baton Rouge, LA	3.0	1.5	820	$1,095	$1.34	44d	1	0.51mi
1855 Brightside Dr Baton Rouge, LA	2.0	1.0	820	$995	$1.21	44d	1	0.53mi
4609 Earl Gros Ave Unit 18 Baton Rouge, LA	1.0	1.0	600	$550	$0.92	14d	1	0.54mi
4445 Alvin Dark Ave Baton Rouge, LA	1.0–3.0	1.0–3.0	869	$1,003	$1.15	14d	14	0.59mi
2000 Brightside Dr Baton Rouge, LA	1.0–3.0	1.0–2.0	792	$1,252	$1.58	14d	1	0.59mi
4547 Alvin Dark Ave Apt 2 Baton Rouge, LA	1.0	1.0	550	$1,000	$1.82	44d	1	0.61mi
4547 Alvin Dark Ave Apt 1 Baton Rouge, LA	1.0	1.0	550	$795	$1.45	14d	1	0.61mi
5116 Highland Rd Baton Rouge, LA	2.0	1.0–2.0	771	$1,021	$1.32	14d	39	0.63mi
1222 Jim Taylor Dr Baton Rouge, LA	1.0	1.0	650	$725	$1.12	14d	2	0.64mi
4618 Alvin Dark Ave Baton Rouge, LA	1.0	1.0	675	$750	$1.11	44d	1	0.66mi
4618 Alvin Dark Ave Baton Rouge, LA	1.0	1.0	675	$750	$1.11	23d	1	0.66mi
5124 Brightside View Dr #3 Baton Rouge, LA	2.0	1.5	1000	$875	$0.88	44d	1	0.66mi
5124 Brightside View Dr #4 Baton Rouge, LA	2.0	1.0	1000	$875	$0.88	44d	1	0.66mi
5124 Brightside View Dr #4 Baton Rouge, LA	2.0	1.5	1000	$999	$1.00	23d	1	0.66mi
2073 Brightside Dr Baton Rouge, LA	2.0	2.0	1100	$1,200	$1.09	23d	1	0.66mi
4554 Y A Tittle Ave Unit B Baton Rouge, LA	2.0	1.0	800	$850	$1.06	44d	1	0.68mi
1983 S Brightside View Dr Unit C Baton Rouge, LA	2.0	2.5	1124	$1,195	$1.06	44d	1	0.68mi
4554 Y A Tittle Ave #2 Baton Rouge, LA	2.0	1.0	900	$825	$0.92	14d	1	0.68mi
4554 Y A Tittle Ave Baton Rouge, LA	2.0	1.0	800	$800	$1.00	44d	1	0.68mi
837 E Boyd Dr Unit A Baton Rouge, LA	2.0	1.5	1080	$1,300	$1.20	19d	1	0.68mi
839 E Boyd Dr Unit C Baton Rouge, LA	2.0	1.5	1080	$1,400	$1.30	19d	1	0.68mi
1221 Bob Pettit Blvd Baton Rouge, LA	1.0	1.0	585	$738	$1.26	19d	2	0.70mi
4639 Tigerland Ave Unit A11 Baton Rouge, LA	2.0	1.0	695	$750	$1.08	44d	1	0.72mi
4606 Y a Tittle Ave Baton Rouge, LA	2.0	1.0	770	$975	$1.27	14d	1	0.73mi
1413 Jim Taylor Dr Unit 216 Baton Rouge, LA	1.0	1.0	600	$550	$0.92	44d	1	0.73mi
1302 Bob Pettit Blvd Baton Rouge, LA	1.0	1.0	540	$750	$1.39	19d	2	0.74mi
5151 Highland Rd Baton Rouge, LA	4.0	1.0–4.0	1129	$1,256	$1.11	14d	150	0.75mi
436 Jennifer Jean Dr Baton Rouge, LA	3.0	2.0	1100	$1,950	$1.77	14d	1	0.77mi
436 Jennifer Jean Dr Baton Rouge, LA	3.0	2.0	1100	$1,950	$1.77	23d	1	0.77mi
235 Burgin Ave Baton Rouge, LA	3.0	1.0	850	$1,350	$1.59	14d	1	0.82mi
448 W Parker Blvd Baton Rouge, LA	1.0	1.0	525	$820	$1.56	44d	1	0.98mi
4264 Oxford Ave Unit 3 Baton Rouge, LA	2.0	1.0	1000	$1,350	$1.35	44d	1	1.00mi
4264 Oxford Ave Unit 4 Baton Rouge, LA	2.0	1.0	1000	$1,295	$1.29	23d	1	1.00mi
550 Lee Dr Unit 006 Baton Rouge, LA	2.0	2.0	936	$1,175	$1.26	44d	1	1.13mi
550 Lee Dr Unit 003-UWD FU Baton Rouge, LA	2.0	2.0	936	$1,175	$1.26	23d	1	1.13mi

HOA detail condo

• Monthly dues: $363 · $4,356/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-04-17
   status Pending 1585-char remark

   Show marketing remark (1585 chars)

   Location. Convenience. Opportunity. Welcome to this 2 bedroom, 2 bathroom condo just minutes from Louisiana State University--only 1 mile away and perfectly positioned on the LSU bus route for easy access to campus. This move-in ready condo is an ideal fit for students, game-day buyers, or savvy investors looking for a high-demand rental property in Baton Rouge. Inside, you'll find a spacious living area anchored by a cozy fireplace, creating the perfect space to relax or entertain. Step outside onto your private balcony--ideal for morning coffee or unwinding after a long day. Enjoy the ease of no carpet throughout, offering both low maintenance and a clean, modern feel. The layout features a spacious primary suite, providing a comfortable retreat, along with a second generously sized bedroom and full bath--perfect for roommates or guests. Additional highlights include in-unit laundry for everyday convenience and a new HVAC system installed in July 2024, giving peace of mind and energy efficiency. Located in a well-maintained community with strong rental appeal, this property offers both lifestyle and investment upside in one of Baton Rouge's most sought-after locations. Spacious balconies/patios (2), perfect for relaxing or entertaining. You & your guests can cool off on warm Louisiana days in the sparkling community swimming pool. Whether you're a student, professional, or investor, this condo is a must-see in one of Baton Rouge's most desirable communities.Opportunities like this--this close to LSU--don't last long. Schedule your private showing today.

2. 2026-04-17
   status Pending

   Show marketing remark (1585 chars)

   Location. Convenience. Opportunity. Welcome to this 2 bedroom, 2 bathroom condo just minutes from Louisiana State University--only 1 mile away and perfectly positioned on the LSU bus route for easy access to campus. This move-in ready condo is an ideal fit for students, game-day buyers, or savvy investors looking for a high-demand rental property in Baton Rouge. Inside, you'll find a spacious living area anchored by a cozy fireplace, creating the perfect space to relax or entertain. Step outside onto your private balcony--ideal for morning coffee or unwinding after a long day. Enjoy the ease of no carpet throughout, offering both low maintenance and a clean, modern feel. The layout features a spacious primary suite, providing a comfortable retreat, along with a second generously sized bedroom and full bath--perfect for roommates or guests. Additional highlights include in-unit laundry for everyday convenience and a new HVAC system installed in July 2024, giving peace of mind and energy efficiency. Located in a well-maintained community with strong rental appeal, this property offers both lifestyle and investment upside in one of Baton Rouge's most sought-after locations. Spacious balconies/patios (2), perfect for relaxing or entertaining. You & your guests can cool off on warm Louisiana days in the sparkling community swimming pool. Whether you're a student, professional, or investor, this condo is a must-see in one of Baton Rouge's most desirable communities.Opportunities like this--this close to LSU--don't last long. Schedule your private showing today.

3. 2026-04-06
   listed $127,500 Active

   Show marketing remark (1585 chars)

   Location. Convenience. Opportunity. Welcome to this 2 bedroom, 2 bathroom condo just minutes from Louisiana State University--only 1 mile away and perfectly positioned on the LSU bus route for easy access to campus. This move-in ready condo is an ideal fit for students, game-day buyers, or savvy investors looking for a high-demand rental property in Baton Rouge. Inside, you'll find a spacious living area anchored by a cozy fireplace, creating the perfect space to relax or entertain. Step outside onto your private balcony--ideal for morning coffee or unwinding after a long day. Enjoy the ease of no carpet throughout, offering both low maintenance and a clean, modern feel. The layout features a spacious primary suite, providing a comfortable retreat, along with a second generously sized bedroom and full bath--perfect for roommates or guests. Additional highlights include in-unit laundry for everyday convenience and a new HVAC system installed in July 2024, giving peace of mind and energy efficiency. Located in a well-maintained community with strong rental appeal, this property offers both lifestyle and investment upside in one of Baton Rouge's most sought-after locations. Spacious balconies/patios (2), perfect for relaxing or entertaining. You & your guests can cool off on warm Louisiana days in the sparkling community swimming pool. Whether you're a student, professional, or investor, this condo is a must-see in one of Baton Rouge's most desirable communities.Opportunities like this--this close to LSU--don't last long. Schedule your private showing today.

4. 2026-04-06
   listed $127,500 Active 1585-char remark

   Show marketing remark (1585 chars)

   Location. Convenience. Opportunity. Welcome to this 2 bedroom, 2 bathroom condo just minutes from Louisiana State University--only 1 mile away and perfectly positioned on the LSU bus route for easy access to campus. This move-in ready condo is an ideal fit for students, game-day buyers, or savvy investors looking for a high-demand rental property in Baton Rouge. Inside, you'll find a spacious living area anchored by a cozy fireplace, creating the perfect space to relax or entertain. Step outside onto your private balcony--ideal for morning coffee or unwinding after a long day. Enjoy the ease of no carpet throughout, offering both low maintenance and a clean, modern feel. The layout features a spacious primary suite, providing a comfortable retreat, along with a second generously sized bedroom and full bath--perfect for roommates or guests. Additional highlights include in-unit laundry for everyday convenience and a new HVAC system installed in July 2024, giving peace of mind and energy efficiency. Located in a well-maintained community with strong rental appeal, this property offers both lifestyle and investment upside in one of Baton Rouge's most sought-after locations. Spacious balconies/patios (2), perfect for relaxing or entertaining. You & your guests can cool off on warm Louisiana days in the sparkling community swimming pool. Whether you're a student, professional, or investor, this condo is a must-see in one of Baton Rouge's most desirable communities.Opportunities like this--this close to LSU--don't last long. Schedule your private showing today.

5. 2023-03-31
   soldstatus $106,000
6. 2014-05-30
   soldstatus $92,500
7. 2014-05-29
   soldstatus
8. 2014-03-20
   listed $104,900
9. 2014-03-20
   listed $104,900
10. 2002-07-03
    soldstatus
11. 2002-05-14
    listed $86,900
12. 2002-05-14
    listed $86,900

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $1,270 · $106/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 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: $15,193
• − Mortgage interest: −$7,142
• − Property taxes: −$1,270
• − Insurance: −$638
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − HOA: −$4,356
• − Depreciation: −$3,709
• Taxable loss: −$4,352
• Est. tax savings @ 24.0%: +$1,045
• After-tax cash flow: $-1,240/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): 23,377
• Household income: $47,429
• Rent vs Own: 66.0% rent · 34.0% own
• Severe rent burden: 1879.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Black 21% Hispanic / Latino 13% Asian 7% Two or more races 5% Native American 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 7% Italian 2% Scotch-Irish 1%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 3% Chinese 1%

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: ▼ -56.10%
• Current HPI: 131.5382
• Rent YoY: ▲ 2.79%
• 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

+46.7% since first listed

12 events — show timeline

• 2026-04-17 Pending — AcadianaMLS
• 2026-04-17 Pending — GBRMLS
• 2026-04-06 Listed $127,500 GBRMLS
• 2026-04-06 Listed $127,500 AcadianaMLS
• 2023-03-31 Sold (Public Records) $106,000 Public Records
• 2014-05-30 Sold (Public Records) $92,500 Public Records
• 2014-05-29 Sold (MLS) — GBRMLS
• 2014-03-20 Listed $104,900 GBRMLS
• 2014-03-20 Listed $104,900 AcadianaMLS
• 2002-07-03 Sold (MLS) — GBRMLS
• 2002-05-14 Listed $86,900 GBRMLS
• 2002-05-14 Listed $86,900 AcadianaMLS

Property tax history

+0.7%/yr

Latest (2025): $1,270 · +4.5% YoY. Source: county tax records.