2045 N 3rd St #222 · Baton Rouge, LA 70802

$119,500

2 bd · 2.0 ba · 1,259 sqft · Condo public records · 366 Days on market

Built 2010 $95/sqft · at area comps Est $133k · 10% under $400/mo HOA · 29% of rent

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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).

• ARV discount +12.0/15.0
• Cash flow +7.8/30.0
• 1% rule +6.5/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

**NEW PRICE!** Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

Key facts

• Gated community
• Fitness center
• Spacious pool area

Tags

• GRANITE COUNTERTOPS
• PRIMARY SUITE
• LOFT AREA
• GATED COMMUNITY
• SPACIOUS POOL AREA
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (19.3% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $96k (19.3% 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.
• Zoned schools: Park Elementary School (math 2% / reading 17%, grade F, #597 of 646 statewide, top 95%, 336 students, 95% FRL); Capitol Middle School (math 4% / reading 10%, grade F, #212 of 218 statewide, top 97%, 580 students, 87% FRL); Liberty High School (math 50% / reading 74%, grade B-, #15 of 265 statewide, top 6%, 1,208 students, 60% FRL) — zoned schools at 81% FRL track the district average.
• Market conditions: Rents rising fast (+6.6%/yr); 202 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• At $1,373/mo this rent would consume 48% of the median local household income ($34k/yr) (locally 1831% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $826 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

• It's been on market 366 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask is 7487% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $96,417 (19.3% 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 366 days. Have you received any prior offers? Is the seller open to a 19% 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.15% ✓
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 7.3

CMA / ARV

• ARV (median comp): $132,762
• List price: $119,500
• Delta: -9.99%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.59% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.33×
• Total profit: $-22,290
• Equity at exit: $17,818

10-year hold

• IRR: -2.3%
• Equity multiple: 0.81×
• Total profit: $-6,374
• Equity at exit: $10,332

Cash invested: $33,460 (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 70802

• Rents YoY: 6.6%
• Active inventory: 202
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,373 high
• Mortgage (P&I): −$627
• Tax from tax record: −$139 /mo · $1,663/yr
• Insurance: −$50
• HOA: −$400
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-131

Break-even live

Break-even rent $1,538

Max offer price $96,417

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-97	+0% $-131	+5% $-164	+10% $-198
Rent	-10% $-239	-5% $-185	+0% $-131	+5% $-76	+10% $-22
Rate	-1.0pp $-70	-0.5pp $-100	base $-131	+0.5pp $-162	+1.0pp $-193

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2045 N 3rd St #305 Baton Rouge, LA	2.0	2.0	1290	$1,575	$1.22	23d	1	0.01mi
2045 N 3rd St Baton Rouge, LA	1.0–2.0	1.0–2.0	1025	$1,575	$1.54	16d	6	0.01mi
2045 N 3rd St #308 Baton Rouge, LA	2.0	2.0	1290	$1,395	$1.08	45d	1	0.01mi
2045 N 3rd St #301 Baton Rouge, LA	2.0	2.0	1259	$1,295	$1.03	25d	1	0.01mi
2045 N 3rd St #221 Baton Rouge, LA	2.0	2.0	1400	$1,495	$1.07	23d	1	0.01mi
1925 N 3rd St Baton Rouge, LA	1.0–2.0	1.0–2.0	777	$1,410	$1.81	16d	7	0.09mi
850 N 5th St Unit 208 Baton Rouge, LA	2.0	1.0	1000	$1,225	$1.23	16d	1	0.71mi
999 N 9th St Apt 219 Baton Rouge, LA	3.0	2.0	1050	$1,185	$1.13	16d	1	0.76mi
999 N 9th St Unit 419 Baton Rouge, LA	3.0	2.0	1050	$1,170	$1.11	25d	1	0.76mi
999 N 9th St Apt 319 Baton Rouge, LA	3.0	2.0	1050	$1,085	$1.03	45d	1	0.76mi
759 Spanish Town Rd Baton Rouge, LA	2.0	1.0	1176	$1,650	$1.40	45d	1	0.78mi
1847 N 16th St Baton Rouge, LA	3.0	2.0	909	$1,250	$1.38	16d	1	0.92mi
427 Palm St Port Allen, LA	2.0	1.0	1000	$1,100	$1.10	25d	1	0.95mi
333 Laurel St Baton Rouge, LA	2.0	1.0–2.0	974	$4,378	$4.49	16d	13	0.99mi
625 Convention St Baton Rouge, LA	1.0–2.0	1.0–2.0	883	$1,818	$2.06	16d	9	1.11mi
741 6th St Port Allen, LA	2.0	2.0	950	$1,200	$1.26	45d	1	1.18mi
631 Michigan Ave Port Allen, LA	2.0	1.0	1500	$1,300	$0.87	16d	1	1.19mi
1346 Main St Unit A Baton Rouge, LA	3.0	2.0	1200	$1,600	$1.33	45d	1	1.23mi
549 California Ave Unit 1 Port Allen, LA	2.0	1.0	900	$900	$1.00	45d	1	1.31mi
524 8th St Port Allen, LA	2.0	1.0	1200	$1,300	$1.08	23d	1	1.35mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: watersewerinternetcablepoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-22
   days on market $119,500 Active 366 DOM
2. 2026-06-18
   days on market $119,500 Active 363 DOM
3. 2026-06-17
   days on market $119,500 Active 362 DOM
4. 2026-06-16
   days on market $119,500 Active 361 DOM
5. 2026-06-15
   days on market $119,500 Active 360 DOM
6. 2026-06-14
   days on market $119,500 Active 358 DOM
7. 2026-06-10
   days on market $119,500 Active 355 DOM
8. 2026-06-09
   days on market $119,500 Active 354 DOM
9. 2026-06-08
   days on market $119,500 Active 353 DOM
10. 2026-06-07
    days on market $119,500 Active 352 DOM
11. 2026-06-05
    days on market $119,500 Active 349 DOM
12. 2026-06-03
    days on market $119,500 Active 348 DOM
13. 2026-06-02
    days on market $119,500 Active 347 DOM
14. 2026-06-01
    days on market $119,500 Active 346 DOM
15. 2026-05-31
    days on market $119,500 Active 345 DOM
16. 2026-05-31
    days on market $119,500 Active 344 DOM
17. 2026-04-29
    historical $1,575
18. 2026-03-09
    listed $1,575
19. 2026-03-09
    historical $1,575
20. 2026-03-09
    listed $1,575
21. 2025-12-22
    price $119,500 633-char remark

    Show marketing remark (640 chars)

    * * NEW PRICE! * * Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

22. 2025-12-22
    price $119,500 640-char remark

    Show marketing remark (640 chars)

    * * NEW PRICE! * * Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

23. 2025-09-26
    price $125,000 633-char remark

    Show marketing remark (640 chars)

    * * NEW PRICE! * * Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

24. 2025-09-26
    price $125,000 640-char remark

    Show marketing remark (640 chars)

    * * NEW PRICE! * * Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

25. 2025-06-20
    listed $129,900 Active 640-char remark

    Show marketing remark (633 chars)

    **NEW PRICE!** Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

26. 2025-06-20
    listed $129,900 Active 633-char remark

    Show marketing remark (633 chars)

    **NEW PRICE!** Experience downtown living at its finest with this exceptional 2 bedroom, 2 bath condo. Ideal for investors or those seeking proximity to vibrant entertainment, dining, and nightlife. Inside, enjoy granite countertops in the kitchen, generously sized bedrooms, and a primary suite. The guest bedroom includes a loft area perfect for an office or entertainment space. Located in a gated community, this property boasts outstanding amenities such as a spacious pool area, fitness center, clubhouse, and hassle-free maintenance. HOA fees cover cable, internet, water, sewer, and more. Schedule your viewing with us today!

27. 2023-12-21
    historical $1,300
28. 2023-08-31
    listed $1,300
29. 2016-09-03
    soldstatus
30. 2016-06-29
    listed $1,195
31. 2015-06-09
    listed $1,195
32. 2006-08-31
    soldstatus
33. 2006-08-14
    listed $199,900
34. 2006-08-14
    listed $199,900

ⓘ 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: $1,663 · $139/mo
• Projected year-2 tax: $1,663 · $139/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: $16,472
• − Mortgage interest: −$6,694
• − Property taxes: −$1,663
• − Insurance: −$598
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − HOA: −$4,800
• − Depreciation: −$3,476
• Taxable loss: −$3,395
• Est. tax savings @ 24.0%: +$815
• After-tax cash flow: $-753/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): 25,118
• Household income: $34,458
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1831.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 20% Two or more races 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 0%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 3% Tagalog/Filipino 1% Other Indo-European 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: ▼ -137.02%
• Current HPI: 47.7285
• Rent YoY: ▲ 6.59%
• 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

-99.2% since first listed

18 events — show timeline

• 2026-04-29 Rental Removed $1,575 RAAMLS
• 2026-03-09 Listed for Rent $1,575 RAAMLS
• 2026-03-09 Rental Removed $1,575 GBRMLS
• 2026-03-09 Listed for Rent $1,575 GBRMLS
• 2025-12-22 Price Changed $119,500 AcadianaMLS
• 2025-12-22 Price Changed $119,500 GBRMLS
• 2025-09-26 Price Changed $125,000 AcadianaMLS
• 2025-09-26 Price Changed $125,000 GBRMLS
• 2025-06-20 Listed $129,900 GBRMLS
• 2025-06-20 Listed $129,900 AcadianaMLS
• 2023-12-21 Rental Removed $1,300 APPFOLIO
• 2023-08-31 Listed for Rent $1,300 APPFOLIO
• 2016-09-03 Sold (MLS) — GBRMLS
• 2016-06-29 Listed $1,195 GBRMLS
• 2015-06-09 Listed $1,195 GBRMLS
• 2006-08-31 Sold (MLS) — GBRMLS
• 2006-08-14 Listed $199,900 GBRMLS
• 2006-08-14 Listed $199,900 AcadianaMLS

Property tax history

+2.7%/yr

Latest (2025): $1,663 · +12.8% YoY. Source: county tax records.