2408 S Grand St Unit 2203 S Grand, 2706 Lee, 2709 Lee, 3413 Halsell · Monroe, LA 71202

$229,000

None bd · None ba · — sqft · Condo · 466 Days on market

Poor condition ↓ 20% since listing

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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
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Condition / age +1.0/5.0
• Cash flow +0.6/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Great Deal for Investors!!! 5 properties/7 rental units. Income producing. 2408 S Grand-2203 S grand A-2203 S grand B-2703 lee -2709 Lee A-2709 Lee B-3413 Halsell All measurements are approximate. Properties to be sold "as-is/where-is". For all showings, contact Julie Hansen 318-355-7301. Please do not disturb the tenants. Fully occupied monthly income of $3450. All Property Pictures to be uploaded this week!

Key facts

• Listed 465 days

Property features AI

Exterior

• Parking: Open parking available
• Utilities: Public water (and other); Public sewer (and other)
• Home design: Residential income property; Multi-family (multi-unit) property
• Construction: Frame and brick veneer construction; Asphalt roof; Other roof material; Slab foundation; Pillar/post/pier foundation; Other foundation type
• Exterior features: Covered patio/porch; Patio/porch not present for some units

Interior

• Kitchen: Gas water heater; Electric water heater
• Heating & cooling: Natural gas heating; Electric heating; Other heating; Electric cooling
• Interior features: Other interior features
• Laundry & utility: See remarks for laundry details

What this means for you Summary

Snapshot

• This is a condo listed at $229k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-986 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (62.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $76k (67.0% below list).
• Recommended offer: $76k (67.0% below list) — sets the bar for 1% rule.
• Cap rate 1.1% vs local median 5.7% in Monroe — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 66/100 on livability (#128 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• City Of Monroe School District (urban): math 21% / reading 31% proficiency, ranked #60 of 98 in LA (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 69 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 466 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $75,557 (67.0% 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 466 days. Have you received any prior offers? Is the seller open to a 67% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 0.33% ✗
• Cap rate: 1.13%
• Cash-on-cash: -18.45%
• DSCR: 0.18
• GRM: 25.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -53.6%
• Equity multiple: -0.56×
• Total profit: $-99,874
• Equity at exit: $34,145

10-year hold

• IRR: —
• Equity multiple: -1.62×
• Total profit: $-167,759
• Equity at exit: $19,800

Cash invested: $64,120 (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 71202

• Active inventory: 69
• Price-to-rent: 25.3×

Monthly cashflow live

• Estimated rent: $756 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$159
• Net cashflow: $-986

Break-even live

Break-even rent $2,003

Max offer price $86,372

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Riverbend Dr West Monroe, LA	2.0	1.0	896	$800	$0.89	21d	1	0.74mi
2807 Georgia St Monroe, LA	3.0	1.0	—	$725	—	21d	1	0.79mi
1006 S 2nd St Monroe, LA	3.0	1.0	1200	$625	$0.52	21d	1	0.82mi
1010 S 3rd St Monroe, LA	2.0	1.0	—	$500	—	21d	1	0.88mi
411 Filhiol Ave West Monroe, LA	2.0	1.0	782	$875	$1.12	21d	1	1.19mi
212 Ludwig Ave West Monroe, LA	3.0	2.0	2600	$1,350	$0.52	21d	1	1.38mi
4406 Jackson St Monroe, LA	2.0	1.0	—	$600	—	21d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-19
   days on market $229,000 Active 466 DOM
2. 2026-06-18
   days on market $229,000 Active 465 DOM
3. 2026-06-17
   days on market $229,000 Active 464 DOM
4. 2026-06-16
   days on market $229,000 Active 463 DOM
5. 2026-06-15
   days on market $229,000 Active 462 DOM
6. 2026-06-14
   days on market $229,000 Active 460 DOM
7. 2026-06-13
   days on market $229,000 Active 459 DOM
8. 2026-06-10
   days on market $229,000 Active 457 DOM
9. 2026-06-09
   days on market $229,000 Active 456 DOM
10. 2026-06-08
    days on market $229,000 Active 455 DOM
11. 2026-06-07
    days on market $229,000 Active 454 DOM
12. 2026-06-05
    days on market $229,000 Active 451 DOM
13. 2026-06-02
    days on market $229,000 Active 449 DOM
14. 2026-06-01
    days on market $229,000 Active 448 DOM
15. 2026-05-31
    days on market $229,000 Active 447 DOM
16. 2026-05-30
    days on market $229,000 Active 446 DOM
17. 2025-09-17
    price $229,000
18. 2025-03-10
    listed $285,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $9,067
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$725
• − Management: −$725
• − Depreciation: −$6,662
• Taxable loss: −$16,453
• Est. tax savings @ 24.0%: +$3,949
• After-tax cash flow: $-7,879/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 · 7 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible damage and potential leaks.
• Major exterior siding — The exterior siding is peeling and in need of repainting.
• Major foundation — The foundation appears to be in poor condition, with visible cracks and settling.
• Major flooring — The flooring in the interior appears to be in poor condition, with visible wear and tear.
• Major interior walls — The interior walls appear to be in poor condition, with visible damage and potential water damage.
• Major HVAC units — The HVAC units appear to be old and in need of replacement.
• Major mechanical systems — The mechanical systems appear to be in poor condition.

Value-add opportunities

• Both repair and replace roof — A new roof will improve the overall condition of the property and increase its resale and rental value.
• Both repair and replace exterior siding — Repainting and repairing the exterior siding will improve the curb appeal and increase the property's resale and rental value.
• Both repair foundation and replace HVAC units — Repairing the foundation and replacing the HVAC units will improve the property's condition and increase its resale and rental value.
• Both repair and replace interior walls — Repairing and replacing the interior walls will improve the property's condition and increase its resale and rental value.
• Both repair and replace mechanical systems — Repairing and replacing the mechanical systems will improve the property's condition and increase its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible damage and potential leaks.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in need of repainting.	Major	$15,000–50,000
foundation · The foundation appears to be in poor condition, with visible cracks and settling.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls · The interior walls appear to be in poor condition, with visible damage and potential water damage.	Major	$15,000–50,000
HVAC units · The HVAC units appear to be old and in need of replacement.	Major	$15,000–50,000
mechanical systems · The mechanical systems appear to be in poor condition.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both repair and replace roof — A new roof will improve the overall condition of the property and increase its resale and rental value. ↑
• Both repair and replace exterior siding — Repainting and repairing the exterior siding will improve the curb appeal and increase the property's resale and rental value. ↑
• Both repair foundation and replace HVAC units — Repairing the foundation and replacing the HVAC units will improve the property's condition and increase its resale and rental value. ↑
• Both repair and replace interior walls — Repairing and replacing the interior walls will improve the property's condition and increase its resale and rental value. ↑
• Both repair and replace mechanical systems — Repairing and replacing the mechanical systems will improve the property's condition and increase its resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: City Of Monroe School District
• NCES district ID: 2201080
• Math proficiency: 21% ▼ -36.00%
• Reading proficiency: 31% ▼ -34.00%
• Median HH income: $28,751
• Composite: 20.82/100
• National rank: #8505
• State rank: #60 of 98 in LA

Livability — Monroe

• Score: 66/100
• State rank: #128
• US rank: #11948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, LA
• City population: 60,136
• Population (ZIP): 26,791

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 Black (84%)
• Race & ethnicity: Black 84% White 11% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -66.58%
• Current HPI: 82.9973
• Rent YoY: —
• Metro: —
• 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

-19.6% since first listed

2 events — show timeline

• 2025-09-17 Price Changed $229,000 NELABOR
• 2025-03-10 Listed $285,000 NELABOR