2720 Third St · Alexandria, LA 71302

$290,000

None bd · None ba · 10,400 sqft · MultiFamily · 74 Days on market

Poor condition

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Why this score? — see what drove the C- 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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

13-UNIT DUPLEX, AND FOURPLEX, LOWER 3RD. STREET. EVERY UNIT IS A 2-BEDROOM 1 BATH. WASHER AND DRYER HOOKUPS, CENTRAL A/C & HEAT. TENANTS ON 6 UNITS. A FEW LONG-TERM TENANTS. 7 UNITS READY TO BE UPDATED. GREAT INVESTMENT PROPERTY TO ADD TO YOUR PORTFOLIO, OR A CHANCE TO START YOUR MULTIUNIT BUSINESS. SHORT DRIVE TO DOWNTOWN.

Key facts

• Listed 73 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $290k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive. Per door: $239/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.9% in Alexandria — 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 64/100 on livability (#160 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Rapides Parish (urban): math 29% / reading 44% proficiency, ranked #31 of 98 in LA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 51 active listings in the ZIP; 239 units permitted in Rapides 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 $9k of value loss. Plan a longer hold.
• Rapides County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
9. 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.
10. 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: 1.08% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 7.7

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-16,548
• Equity at exit: $43,240

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $24,924
• Equity at exit: $25,074

Cash invested: $81,200 (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 71302

• Home prices YoY: -12.7%
• Active inventory: 51
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,141 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $477

Break-even live

Break-even rent $2,537

Max offer price $290,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$3,140
Total (2 units)			$3,141

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $290,000 Active 74 DOM
2. 2026-06-18
   days on market $290,000 Active 73 DOM
3. 2026-06-17
   days on market $290,000 Active 72 DOM
4. 2026-06-16
   days on market $290,000 Active 71 DOM
5. 2026-06-15
   days on market $290,000 Active 70 DOM
6. 2026-06-14
   days on market $290,000 Active 68 DOM
7. 2026-06-13
   days on market $290,000 Active 67 DOM
8. 2026-06-10
   days on market $290,000 Active 65 DOM
9. 2026-06-09
   days on market $290,000 Active 64 DOM
10. 2026-06-08
    days on market $290,000 Active 63 DOM
11. 2026-06-07
    days on market $290,000 Active 62 DOM
12. 2026-06-03
    days on market $290,000 Active 58 DOM
13. 2026-06-02
    days on market $290,000 Active 57 DOM
14. 2026-06-01
    days on market $290,000 Active 56 DOM
15. 2026-05-31
    days on market $290,000 Active 55 DOM
16. 2026-05-30
    days on market $290,000 Active 54 DOM
17. 2026-04-06
    listed $290,000 Active 329-char remark

    Show marketing remark (329 chars)

    13-UNIT DUPLEX, AND FOURPLEX, LOWER 3RD. STREET. EVERY UNIT IS A 2-BEDROOM 1 BATH. WASHER AND DRYER HOOKUPS, CENTRAL A/C & HEAT. TENANTS ON 6 UNITS. A FEW LONG-TERM TENANTS. 7 UNITS READY TO BE UPDATED. GREAT INVESTMENT PROPERTY TO ADD TO YOUR PORTFOLIO, OR A CHANCE TO START YOUR MULTIUNIT BUSINESS. SHORT DRIVE TO DOWNTOWN.

18. 2021-10-13
    listed $399,000
19. 2021-03-24
    listed $395,000
20. 2020-05-18
    listed $425,500
21. 2007-02-12
    listed $228,000

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $37,692
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$3,015
• − Management: −$3,015
• − Depreciation: −$8,436
• Taxable income: $1,180
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $5,444/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 · 6 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance, including roof replacement, siding repair, driveway repair, and landscaping. Immediate action is needed to improve the property's condition and value.

Repairs flagged

• Major Siding — Damaged and peeling
• Major Roof — Signs of wear and tear
• Major Driveway — Concrete driveway in poor condition
• Major Landscaping — Overgrown grass and general disrepair

Value-add opportunities

• Both Landscaping and exterior repairs — Improving curb appeal and property value
• Both Roof replacement — Critical to the structural integrity and safety of the property
• Both Siding repair/replacement — Enhances the property's appearance and value
• Both Driveway repair — Improves the property's curb appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · Damaged and peeling	Major	$15,000–50,000
Roof · Signs of wear and tear	Major	$15,000–50,000
Driveway · Concrete driveway in poor condition	Major	$15,000–50,000
Landscaping · Overgrown grass and general disrepair	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Landscaping and exterior repairs — Improving curb appeal and property value ↑
• Both Roof replacement — Critical to the structural integrity and safety of the property ↑
• Both Siding repair/replacement — Enhances the property's appearance and value ↑
• Both Driveway repair — Improves the property's curb appeal and functionality ↑

ⓘ 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: Rapides Parish
• NCES district ID: 2201290
• Math proficiency: 29% ▼ -34.00%
• Reading proficiency: 44% ▼ -29.00%
• Median HH income: $41,057
• Composite: 30.68/100
• National rank: #6179
• State rank: #31 of 98 in LA

Livability — Alexandria

• Score: 64/100
• State rank: #160
• US rank: #13698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alexandria, LA
• City population: 25,138
• Population (ZIP): 14,128

Population outlook (Rapides County) Hauer SSP2

• Today (2025): 133,047 people
• By 2030: 132,333 · -0.5%
• By 2040: 129,355 · -2.8%
• By 2050: 124,535 · -6.4%
• By 2075: 110,338 · -17.1%
• By 2100: 88,641 · -33.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (83%)
• Race & ethnicity: Black 83% White 14% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Rapides

• 2024 margin: Solid R (+36.8) · D 31.0% · R 67.7% · Other 1.3%
• 2008→2024 swing: -8.1pp toward R · 2008: -28.7pp · 2024: -36.8pp
• All cycles: 2024: R+36.8 2020: R+32.1 2016: R+32.5 2012: R+29.6 2008: R+28.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.36%
• Current HPI: 195.3699
• 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

+27.2% since first listed

5 events — show timeline

• 2026-04-06 Listed $290,000 AcadianaMLS
• 2021-10-13 Listed $399,000 AcadianaMLS
• 2021-03-24 Listed $395,000 AcadianaMLS
• 2020-05-18 Listed $425,500 AcadianaMLS
• 2007-02-12 Listed $228,000 AcadianaMLS