613 Nichols Pl · West Monroe, LA 71291

$209,900

3 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 583 Days on market

Built 2022 6,098 sqft lot $8/mo HOA ↓ 4% since listing

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Why this score? — see what drove the D 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 +12.8/30.0
• ARV discount +7.5/15.0
• Rent growth +4.7/5.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICE IMPROVEMENT!! OWN this beautiful brand new construction for only $209,900! Nichols Place is a small newly established intimate subdivision, located just off the beaten path surrounded by lush woods - only a few short minutes away from Kiroli Park - 150 acres of trails, playgrounds, dog parks and so much more. This 3 bed/2bath home by Rhodes Properties & Development features a spacious open floor plan with luxury vinyl plank flooring and granite countertops throughout. The kitchen is complete with a side by side refrigerator, electric range, microwave and dishwasher.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 2022

🏗️ New construction. The $209,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $199,320.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-19 ($-233/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (23.2% below list).
• Recommended offer: $161k (23.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#53 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, commute F, employment F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Good Hope Middle School (math 35% / reading 53%, grade D, #51 of 218 statewide, top 24%, 602 students, 53% FRL); West Ouachita High School (math 36% / reading 47%, grade F, #71 of 265 statewide, top 27%, 1,080 students, 54% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 199 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 583 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $161,246 (23.2% 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. It's been on market 583 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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 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: 0.81% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $199,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Nichols Pl	0.06mi	3/2.0	1,280 (-3%)	3mo	$212,500	$166	89
615 Nichols Pl	0.03mi	3/2.0	1,360 (+3%)	10mo	$215,000	$158	85
101 Nichols Dr	0.22mi	3/1.5	1,377 (+4%)	14mo	$170,000	$123	69
1010 Audubon Ave	0.66mi	3/1.5	1,266 (-4%)	2mo	$188,000	$148	59
128 Tuscany Cir	0.56mi	2/2.0 (-1)	1,288 (-2%)	9mo	$202,000	$157	57
111 Lisa Ln	0.31mi	3/1.5	1,199 (-9%)	17mo	$155,000	$129	54
120 Orleans Pl	0.68mi	3/2.0	1,296 (-2%)	13mo	$213,000	$164	54
147 Northwood Cir	0.39mi	3/2.0	1,485 (+12%)	12mo	$226,500	$153	51
1421 Elizabeth St	0.56mi	3/1.0	1,410 (+7%)	13mo	$170,000	$121	48
130 Tuscany Cir	0.57mi	2/2.0 (-1)	1,469 (+11%)	14mo	$222,000	$151	38
134 Fairlane Dr	0.73mi	3/1.0	1,124 (-15%)	14mo	$108,500	$97	25
1525 Willis St	0.74mi	2/1.0 (-1)	1,509 (+14%)	20mo	$96,000	$64	16

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: -11.9%
• Equity multiple: 0.55×
• Total profit: $-25,042
• Equity at exit: $29,719

10-year hold

• IRR: 3.1%
• Equity multiple: 1.27×
• Total profit: $15,273
• Equity at exit: $17,234

Cash invested: $55,810 (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 71291

• Home prices YoY: -30.2%
• Rents YoY: 8.9%
• Active inventory: 199
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,612 medium
• Mortgage (P&I): −$1,045
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$83
• HOA: −$8
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-19

Break-even live

Break-even rent $1,637

Max offer price $195,886

Occupancy floor 96%

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: $49,830
• Closing costs: $5,980
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Fairlane Dr Unit 8 West Monroe, LA	2.0	2.0	1050	$1,600	$1.52	20d	1	0.86mi
1114 Otis St West Monroe, LA	3.0	2.0	1304	$1,595	$1.22	43d	1	0.93mi
2417 N 9th St West Monroe, LA	2.0	1.0	900	$2,000	$2.22	43d	1	1.09mi
202 Gross St West Monroe, LA	3.0	1.0	1100	$1,350	$1.23	43d	1	1.17mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: electriclandscaping

Listing history 6 events

1. 2024-04-26
   status Pending
2. 2023-10-22
   price $209,900
3. 2023-09-05
   status Active
4. 2023-08-22
   historical
5. 2023-07-18
   price $214,900
6. 2022-09-06
   listed $219,000 Active

ⓘ 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: $1,884 · $157/mo
• Projected year-2 tax: $1,884 · $157/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $19,350
• − Mortgage interest: −$11,165
• − Property taxes: −$1,884
• − Insurance: −$997
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − HOA: −$96
• − Depreciation: −$5,798
• Taxable loss: −$3,686
• Est. tax savings @ 24.0%: +$885
• After-tax cash flow: $651/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: Ouachita Parish
• NCES district ID: 2201200
• Math proficiency: 31% ▼ -38.00%
• Reading proficiency: 45% ▼ -31.00%
• Median HH income: $43,316
• Composite: 32.14/100
• National rank: #5791
• State rank: #26 of 98 in LA

Livability — West Monroe

• Score: 70/100
• State rank: #53
• US rank: #7498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ouachita Parish · 118,340 people
• City population: 58,204
• Metro: Monroe, LA
• Population (ZIP): 35,269
• Household income: $71,639
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 847.0

Population outlook (Ouachita County) Hauer SSP2

• Today (2025): 163,370 people
• By 2030: 165,520 · +1.3%
• By 2040: 167,652 · +2.6%
• By 2050: 166,699 · +2.0%
• By 2075: 156,348 · -4.3%
• By 2100: 134,102 · -17.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Ouachita

• 2024 margin: Strong R (+27.9) · D 35.5% · R 63.3% · Other 1.2%
• 2008→2024 swing: -2.7pp toward R · 2008: -25.2pp · 2024: -27.9pp
• All cycles: 2024: R+27.9 2020: R+23.6 2016: R+25.4 2012: R+20.9 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.15%
• Current HPI: 220.1737
• Rent YoY: ▲ 8.93%
• Metro: Monroe, 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

-4.2% since first listed

6 events — show timeline

• 2024-04-26 Pending — NELABOR
• 2023-10-22 Price Changed $209,900 NELABOR
• 2023-09-05 Relisted — NELABOR
• 2023-08-22 Delisted — NELABOR
• 2023-07-18 Price Changed $214,900 NELABOR
• 2022-09-06 Listed $219,000 NELABOR

Property tax history

+141.9%/yr

Latest (2025): $1,884 · -1.2% YoY. Source: county tax records.