309 Conella St · West Monroe, LA 71291

$99,900

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 82 Days on market

Built 1964 $102/sqft · 6% below area Est $109k · 9% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated 3-bedroom, 1-bath home in West Monroe! This charming property has been recently remodeled and offers a fresh, modern feel throughout. Step inside to find durable laminate flooring flowing seamlessly through the living spaces, creating both style and easy maintenance. The updated interior provides a comfortable and inviting layout, perfect for everyday living or entertaining. Conveniently located, this home is zoned for Good Hope Middle School and West Monroe High School.

Key facts

• Updated interior
• Garage
• Listed 82 days

Tags

• UPDATED INTERIOR
• DURABLE LAMINATE FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 5.5% in West Monroe — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.76% ✓
• Cap rate: 15.53%
• Cash-on-cash: 33.01%
• DSCR: 2.47
• GRM: 4.7

CMA / ARV

• ARV (median comp): $109,314
• List price: $99,900
• Delta: -8.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Conella St	0.11mi	2/1.0 (-1)	832 (-15%)	2mo	$68,500	$82	64
212 Moreland St	0.29mi	2/1.0 (-1)	862 (-12%)	2mo	$72,000	$84	61
309 Pelican Dr	0.18mi	2/1.0 (-1)	912 (-6%)	20mo	$84,500	$93	59
319 Oaklawn Dr	0.30mi	3/1.0	1,065 (+9%)	17mo	$100,000	$94	56
2500 N 10th St	0.71mi	2/1.0 (-1)	1,033 (+6%)	20mo	$115,000	$111	35

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: 33.5%
• Equity multiple: 2.50×
• Total profit: $42,096
• Equity at exit: $14,895

10-year hold

• IRR: 42.9%
• Equity multiple: 6.08×
• Total profit: $142,010
• Equity at exit: $8,638

Cash invested: $27,972 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,760 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$55 /mo · $662/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $769

Break-even live

Break-even rent $786

Max offer price $99,900

Occupancy floor 51%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2417 N 9th St West Monroe, LA	2.0	1.0	900	$2,000	$2.22	43d	1	0.67mi
220 Drew Ave West Monroe, LA	3.0	1.0	900	$1,525	$1.69	20d	1	0.89mi
202 Gross St West Monroe, LA	3.0	1.0	1100	$1,350	$1.23	43d	1	1.36mi
110 Pine St Unit 12 West Monroe, LA	2.0	2.0	1000	$2,400	$2.40	43d	1	1.41mi

Listing history 21 events

1. 2026-06-17
   status $99,900 Pending 82 DOM
2. 2026-06-17
   days on market $99,900 Active 82 DOM
3. 2026-06-16
   days on market $99,900 Active 81 DOM
4. 2026-06-15
   days on market $99,900 Active 80 DOM
5. 2026-06-14
   days on market $99,900 Active 78 DOM
6. 2026-06-13
   days on market $99,900 Active 77 DOM
7. 2026-06-10
   days on market $99,900 Active 75 DOM
8. 2026-06-09
   days on market $99,900 Active 74 DOM
9. 2026-06-08
   days on market $99,900 Active 73 DOM
10. 2026-06-07
    days on market $99,900 Active 72 DOM
11. 2026-06-03
    days on market $99,900 Active 68 DOM
12. 2026-06-02
    days on market $99,900 Active 67 DOM
13. 2026-06-01
    days on market $99,900 Active 66 DOM
14. 2026-05-31
    days on market $99,900 Active 65 DOM
15. 2026-05-30
    days on market $99,900 Active 64 DOM
16. 2026-05-13
    price $99,900 511-char remark

    Show marketing remark (511 chars)

    Welcome to this beautifully updated 3-bedroom, 1-bath home in West Monroe! This charming property has been recently remodeled and offers a fresh, modern feel throughout. Step inside to find durable laminate flooring flowing seamlessly through the living spaces, creating both style and easy maintenance. The updated interior provides a comfortable and inviting layout, perfect for everyday living or entertaining. Conveniently located, this home is zoned for Good Hope Middle School and West Monroe High School.

17. 2026-04-17
    price $115,000 511-char remark

    Show marketing remark (511 chars)

    Welcome to this beautifully updated 3-bedroom, 1-bath home in West Monroe! This charming property has been recently remodeled and offers a fresh, modern feel throughout. Step inside to find durable laminate flooring flowing seamlessly through the living spaces, creating both style and easy maintenance. The updated interior provides a comfortable and inviting layout, perfect for everyday living or entertaining. Conveniently located, this home is zoned for Good Hope Middle School and West Monroe High School.

18. 2026-03-23
    listed $125,000 Active 511-char remark

    Show marketing remark (511 chars)

    Welcome to this beautifully updated 3-bedroom, 1-bath home in West Monroe! This charming property has been recently remodeled and offers a fresh, modern feel throughout. Step inside to find durable laminate flooring flowing seamlessly through the living spaces, creating both style and easy maintenance. The updated interior provides a comfortable and inviting layout, perfect for everyday living or entertaining. Conveniently located, this home is zoned for Good Hope Middle School and West Monroe High School.

19. 2022-09-09
    soldstatus Closed 216-char remark

    Show marketing remark (216 chars)

    This 3 bedroom, 1 bath brick home is perfect for a starter home or investment property! It has nice sized rooms, single attached carport and a large fenced back yard! Conveniently located in the heart of West Monroe!

20. 2022-06-28
    status Pending 216-char remark

    Show marketing remark (216 chars)

    This 3 bedroom, 1 bath brick home is perfect for a starter home or investment property! It has nice sized rooms, single attached carport and a large fenced back yard! Conveniently located in the heart of West Monroe!

21. 2022-06-22
    listed $86,000 Active 216-char remark

    Show marketing remark (216 chars)

    This 3 bedroom, 1 bath brick home is perfect for a starter home or investment property! It has nice sized rooms, single attached carport and a large fenced back yard! Conveniently located in the heart of West Monroe!

ⓘ 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: $662 · $55/mo
• Projected year-2 tax: $662 · $55/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 7/10 Severe 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 76% 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: $21,114
• − Mortgage interest: −$5,596
• − Property taxes: −$662
• − Insurance: −$500
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − Depreciation: −$2,906
• Taxable income: $8,073
• Est. tax owed @ 24.0%: −$1,937
• After-tax cash flow: $7,295/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

• Census place: West Monroe, LA
• 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

+16.2% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $99,900 NELABOR
• 2026-04-17 Price Changed $115,000 NELABOR
• 2026-03-23 Listed $125,000 NELABOR
• 2022-09-09 Sold (MLS) — NELABOR
• 2022-06-28 Pending — NELABOR
• 2022-06-22 Listed $86,000 NELABOR

Property tax history

+6.9%/yr

Latest (2025): $662 · +5.7% YoY. Source: county tax records.