613 Nichols Pl

West Monroe, LA 71291

$209,900D

3 bd · 2.0 ba · 1,320 sqft · Built 2022 · SingleFamily · Pending · 583 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,612/mo
• Mortgage (P&I): −$1,045
• Tax + insurance: −$240
• HOA: −$8
• Vac / Maint / Mgmt: −$339
• Net cashflow: $-19/mo
• Annual: $-233/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• 1% rule: 0.81%
• Cash to close: $55,810

Investor read

• This is a 3-bed/2.0-bath single-family listed at $210k.
• 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).
• It's been on market 583 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (23.2% below list) — sets the bar for 1% rule.
• 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.
• 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).
• 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.

Questions for listing agent

• 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?
• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?