10632 Azalea Dr · Bastrop, LA 71220

$89,500

3 bd · 2.0 ba · 1,282 sqft · SingleFamily public records · 100 Days on market

Built 1956 $70/sqft · 10% below area Est $95k · 5% 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
• DSCR +10.0/10.0
• ARV discount +9.9/15.0
• 1% rule +7.7/10.0
• Appreciation +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Charming 3 bedroom 1 bathroom in Morehouse. Seller has done some of the work for you! Warm colors mixed with rustic modern accents throughout the home, open floor plan, tile floors for durability, kitchen bar for afternoon snacks and so much more! Outside you will find mature trees and an open patio for entertaining family and friends. With your own personal touch you can make this house your home! Call you real estate professional for a showing!

Key facts

• Open floor plan
• Kitchen bar
• Tile floors

Tags

• OPEN FLOOR PLAN
• TILE FLOORS
• KITCHEN BAR
• MATURE TREES
• OPEN PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 50/100 on livability (#425 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D, health & safety D, crime F.
• Morehouse Parish (town): math 10% / reading 19% proficiency, ranked #83 of 98 in LA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP; 11 units permitted in Morehouse Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $619 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Morehouse County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $90k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $81,445 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.27% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.41%
• DSCR: 1.73
• GRM: 6.5

CMA / ARV

• ARV (median comp): $94,626
• List price: $89,500
• Delta: -5.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-2.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.43×
• Total profit: $10,705
• Equity at exit: $16,957

10-year hold

• IRR: 17.9%
• Equity multiple: 2.61×
• Total profit: $40,364
• Equity at exit: $14,089

Cash invested: $25,060 (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 71220

• Home prices YoY: -1.2%
• Active inventory: 92
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $343

Break-even live

Break-even rent $705

Max offer price $89,500

Occupancy floor 65%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $89,500 Active 100 DOM
2. 2026-06-18
   days on market $89,500 Active 99 DOM
3. 2026-06-18
   price $89,500 Active 98 DOM
4. 2026-06-17
   days on market $90,000 Active 98 DOM
5. 2026-06-16
   days on market $90,000 Active 97 DOM
6. 2026-06-15
   days on market $90,000 Active 96 DOM
7. 2026-06-14
   days on market $90,000 Active 94 DOM
8. 2026-06-13
   days on market $90,000 Active 93 DOM
9. 2026-06-10
   days on market $90,000 Active 91 DOM
10. 2026-06-09
    days on market $90,000 Active 90 DOM
11. 2026-06-08
    days on market $90,000 Active 89 DOM
12. 2026-06-07
    days on market $90,000 Active 88 DOM
13. 2026-06-05
    days on market $90,000 Active 85 DOM
14. 2026-06-03
    days on market $90,000 Active 84 DOM
15. 2026-06-02
    days on market $90,000 Active 83 DOM
16. 2026-06-01
    days on market $90,000 Active 82 DOM
17. 2026-05-31
    days on market $90,000 Active 81 DOM
18. 2026-05-30
    days on market $90,000 Active 80 DOM
19. 2026-05-12
    price $90,000 450-char remark

    Show marketing remark (450 chars)

    Charming 3 bedroom 1 bathroom in Morehouse. Seller has done some of the work for you! Warm colors mixed with rustic modern accents throughout the home, open floor plan, tile floors for durability, kitchen bar for afternoon snacks and so much more! Outside you will find mature trees and an open patio for entertaining family and friends. With your own personal touch you can make this house your home! Call you real estate professional for a showing!

20. 2026-04-15
    price $95,900 450-char remark

    Show marketing remark (450 chars)

    Charming 3 bedroom 1 bathroom in Morehouse. Seller has done some of the work for you! Warm colors mixed with rustic modern accents throughout the home, open floor plan, tile floors for durability, kitchen bar for afternoon snacks and so much more! Outside you will find mature trees and an open patio for entertaining family and friends. With your own personal touch you can make this house your home! Call you real estate professional for a showing!

21. 2026-03-11
    listed $98,000 Active 450-char remark

    Show marketing remark (450 chars)

    Charming 3 bedroom 1 bathroom in Morehouse. Seller has done some of the work for you! Warm colors mixed with rustic modern accents throughout the home, open floor plan, tile floors for durability, kitchen bar for afternoon snacks and so much more! Outside you will find mature trees and an open patio for entertaining family and friends. With your own personal touch you can make this house your home! Call you real estate professional for a showing!

22. 2026-01-13
    price $98,000
23. 2025-10-25
    price $100,000
24. 2025-09-26
    listed $105,000 Active
25. 2025-05-20
    price $120,000
26. 2025-02-04
    listed $125,000 Active
27. 2023-01-05
    soldstatus $51,475
28. 2022-08-29
    soldstatus $50,000
29. 2022-08-26
    soldstatus Closed
30. 2022-08-12
    status Pending
31. 2022-07-29
    status Active
32. 2022-04-26
    listed $59,900 Active
33. 2014-11-26
    soldstatus $65,000
34. 2009-01-29
    soldstatus $71,600

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $606 · $50/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $13,669
• − Mortgage interest: −$5,013
• − Property taxes: −$606
• − Insurance: −$448
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$2,604
• Taxable income: $2,812
• Est. tax owed @ 24.0%: −$675
• After-tax cash flow: $3,439/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: Morehouse Parish
• NCES district ID: 2201110
• Math proficiency: 10% ▼ -29.00%
• Reading proficiency: 19% ▼ -29.00%
• Median HH income: $30,482
• Composite: 11.46/100
• National rank: #9704
• State rank: #83 of 98 in LA

Livability — Bastrop

• Score: 50/100
• State rank: #425
• US rank: #25547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,426

Population outlook (Morehouse County) Hauer SSP2

• Today (2025): 23,631 people
• By 2030: 22,114 · -6.4%
• By 2040: 19,203 · -18.7%
• By 2050: 16,698 · -29.3%
• By 2075: 11,998 · -49.2%
• By 2100: 8,622 · -63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (51%)
• Race & ethnicity: Black 51% White 44% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2%
• Foreign-born: 1% · China

Political lean MEDSL · Morehouse

• 2024 margin: R (+19.4) · D 39.7% · R 59.0% · Other 1.3%
• 2008→2024 swing: -8.3pp toward R · 2008: -11.1pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+13.5 2016: R+11.4 2012: R+5.6 2008: R+11.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.10%
• Current HPI: 171.3272
• 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

+25.7% since first listed

16 events — show timeline

• 2026-05-12 Price Changed $90,000 NELABOR
• 2026-04-15 Price Changed $95,900 NELABOR
• 2026-03-11 Listed $98,000 NELABOR
• 2026-01-13 Price Changed $98,000 NELABOR
• 2025-10-25 Price Changed $100,000 NELABOR
• 2025-09-26 Listed $105,000 NELABOR
• 2025-05-20 Price Changed $120,000 NELABOR
• 2025-02-04 Listed $125,000 NELABOR
• 2023-01-05 Sold (Public Records) $51,475 Public Records
• 2022-08-29 Sold (Public Records) $50,000 Public Records
• 2022-08-26 Sold (MLS) — NELABOR
• 2022-08-12 Pending — NELABOR
• 2022-07-29 Relisted — NELABOR
• 2022-04-26 Listed $59,900 NELABOR
• 2014-11-26 Sold (Public Records) $65,000 Public Records
• 2009-01-29 Sold (Public Records) $71,600 Public Records

Property tax history

+0.1%/yr

Latest (2024): $606 · -7.9% YoY. Source: county tax records.