9803 Smitherman Dr · Shreveport, LA 71115

$139,000

3 bd · 2.0 ba · 1,440 sqft · Townhouse public records · 13 Days on market

Built 1970 2,396 sqft lot Est $151k · 8% under $42/mo HOA · 3% of rent

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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 +25.5/30.0
• ARV discount +11.1/15.0
• DSCR +8.4/10.0
• 1% rule +6.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for something easy, low maintenance and move in ready? Then this is the home for you! New carpet and hardwood floors, new double insulated window downstairs, and all new blinds on the windows! Washer, dryer and refrigerator remain with the home. Open concept downstairs with half bath which is perfect for when you are entertaining. Bedrooms located upstairs with Jack and Jill bathroom. Plenty of closet space and nice size bedrooms. This is a must see! Call today and set up your own private showing!

Key facts

• $42 HOA
• 2 parking spots
• Built 1970

Property features AI

Finance

• Other: Property listed as residential townhouse; MLS status: Active; Possession at closing/funding
• Financial info: Loan type: Treat As Clear; No second mortgage information
• HOA & community: Mandatory association managed by Greenbriar; Annual association fee of $500; Association covers grounds and structure maintenance

Exterior

• Parking: Carport (covered) with 2 spaces
• Security: Security details not provided
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Residential townhouse; Attached property; Two-story
• Construction: Built in 1970; Brick construction; Composition roof; Slab foundation
• Exterior features: Lot dimensions approximately 23 x 105; Small lot (about 0.055 acres); Subdivision: Town South Estates

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: 2 bedrooms (both on the 2nd level; primary bedroom with Hollywood bath)
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open floorplan; Walk-in closets; 5 total rooms; One living area; One dining area; Two levels
• Laundry & utility: Laundry and utility details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $139k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 9.1% vs local median 5.7% in Shreveport — 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 59/100 on livability (#270 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Caddo Parish (urban): math 21% / reading 32% proficiency, ranked #53 of 98 in LA (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 105 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 221 units permitted in Caddo Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Caddo County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $118k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Chimney Stone Way	0.54mi	3/2.0	1,490 (+4%)	2mo	$168,500	$113	68
10110 Salinas Dr	0.63mi	3/1.5	1,435 (-0%)	1mo	$150,000	$105	67
10302 Loma Vista Dr	0.65mi	3/2.0	1,464 (+2%)	3mo	$150,000	$102	65
10119 Carlsbad Dr	0.57mi	3/1.5	1,410 (-2%)	4mo	$148,500	$105	64
10323 Monet Dr	0.64mi	3/2.0	1,487 (+3%)	1mo	$143,000	$96	64
311 Stratmore Dr #168	0.42mi	2/2.0 (-1)	1,545 (+7%)	0mo	$189,000	$122	63
10014 Carlsbad Dr	0.50mi	3/2.5	1,335 (-7%)	1mo	$122,000	$91	62
42 Settlers Bnd	0.45mi	3/2.5	1,563 (+8%)	3mo	$199,900	$128	60
10005 Saratoga Dr	0.47mi	3/2.5	1,592 (+11%)	3mo	$178,000	$112	56
9993 Smugglers Cove Ln	0.64mi	2/1.5 (-1)	1,339 (-7%)	1mo	$137,500	$103	51
113 Harts Landing Ln	0.65mi	2/2.5 (-1)	1,320 (-8%)	4mo	$114,900	$87	46
114 Deville Pl	0.72mi	2/1.5 (-1)	1,277 (-11%)	0mo	$139,000	$109	40

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 · 0.07% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-6,559
• Equity at exit: $20,725

10-year hold

• IRR: 1.2%
• Equity multiple: 1.07×
• Total profit: $2,788
• Equity at exit: $12,018

Cash invested: $38,920 (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 71115

• Home prices YoY: -26.5%
• Rents YoY: 0.1%
• Active inventory: 105
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$729
• Tax from tax record: −$145 /mo · $1,738/yr
• Insurance: −$58
• HOA: −$42
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $324

Break-even live

Break-even rent $1,232

Max offer price $139,000

Occupancy floor 75%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9505 Balsa Dr Shreveport, LA	3.0	2.5	1744	$1,900	$1.09	13d	1	0.30mi
409 Persimmon Dr Shreveport, LA	3.0	2.0	1800	$1,900	$1.06	21d	1	0.35mi
236 Settlers Park Dr Shreveport, LA	2.0	1.5	958	$1,300	$1.36	21d	1	0.40mi
10014 Stratmore Cir Unit 10014 Shreveport, LA	3.0	2.5	1824	$1,600	$0.88	13d	1	0.45mi
176 Settlers Bnd Shreveport, LA	2.0	1.5	958	$1,175	$1.23	43d	1	0.46mi
10018 Artesia Dr Shreveport, LA	3.0	2.5	1875	$1,500	$0.80	43d	1	0.52mi
10142 Carlsbad Dr Shreveport, LA	3.0	2.5	1500	$1,400	$0.93	21d	1	0.59mi
10139 Carlsbad Dr Shreveport, LA	3.0	2.0	1464	$1,800	$1.23	43d	1	0.60mi
9990 Smugglers Cove Ln Shreveport, LA	2.0	1.5	1267	$1,550	$1.22	43d	1	0.62mi
10305 Monet Dr Shreveport, LA	3.0	2.5	1533	$1,600	$1.04	21d	1	0.62mi
9993 Smugglers Cove Ln Shreveport, LA	2.0	1.5	1339	$1,500	$1.12	13d	1	0.64mi
10327 Loma Vista Dr Unit 10327 Shreveport, LA	3.0	2.5	1474	$1,590	$1.08	21d	1	0.68mi
9913 Dagger Point Ln Shreveport, LA	2.0	2.5	1296	$1,350	$1.04	43d	1	0.68mi
8525 Chalmette Dr Shreveport, LA	1.0–2.0	1.0–1.5	686	$955	$1.39	13d	8	0.71mi
8700 Millicent Way Shreveport, LA	1.0–2.0	1.0–2.0	802	$1,715	$2.14	13d	6	0.76mi
8501 Millicent Way Shreveport, LA	1.0–2.0	1.0–2.0	766	$1,500	$1.96	13d	9	0.84mi
184 Riverbrooke Dr Shreveport, LA	3.0	2.0	1620	$2,000	$1.23	21d	1	0.87mi
7820 Millicent Way Shreveport, LA	2.0	2.0	974	$1,340	$1.38	13d	3	1.26mi
8117 Captain Mary Miller Dr Shreveport, LA	3.0	2.0	1780	$2,200	$1.24	43d	1	1.36mi
7800 Youree Dr Shreveport, LA	1.0–3.0	1.0–2.0	1031	$1,724	$1.67	13d	41	1.38mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 14 events

1. 2026-06-07
   statusdays on market $139,000 Pending 13 DOM
2. 2026-06-05
   days on market $139,000 Active Contingent 11 DOM
3. 2026-06-03
   days on market $139,000 Active Contingent 10 DOM
4. 2026-06-02
   days on market $139,000 Active Contingent 9 DOM
5. 2026-06-01
   days on market $139,000 Active Contingent 8 DOM
6. 2026-05-31
   days on market $139,000 Active Contingent 7 DOM
7. 2026-05-30
   days on market $139,000 Active Contingent 6 DOM
8. 2026-05-22
   listed $139,000 Active
9. 2021-05-17
   soldstatus $118,000
10. 2021-05-16
    historical 510-char remark

    Show marketing remark (510 chars)

    Looking for something easy, low maintenance and move in ready? Then this is the home for you! New carpet and hardwood floors, new double insulated window downstairs, and all new blinds on the windows! Washer, dryer and refrigerator remain with the home. Open concept downstairs with half bath which is perfect for when you are entertaining. Bedrooms located upstairs with Jack and Jill bathroom. Plenty of closet space and nice size bedrooms. This is a must see! Call today and set up your own private showing!

11. 2021-05-14
    soldstatus Sold 510-char remark

    Show marketing remark (510 chars)

    Looking for something easy, low maintenance and move in ready? Then this is the home for you! New carpet and hardwood floors, new double insulated window downstairs, and all new blinds on the windows! Washer, dryer and refrigerator remain with the home. Open concept downstairs with half bath which is perfect for when you are entertaining. Bedrooms located upstairs with Jack and Jill bathroom. Plenty of closet space and nice size bedrooms. This is a must see! Call today and set up your own private showing!

12. 2021-04-02
    historical 510-char remark

    Show marketing remark (510 chars)

    Looking for something easy, low maintenance and move in ready? Then this is the home for you! New carpet and hardwood floors, new double insulated window downstairs, and all new blinds on the windows! Washer, dryer and refrigerator remain with the home. Open concept downstairs with half bath which is perfect for when you are entertaining. Bedrooms located upstairs with Jack and Jill bathroom. Plenty of closet space and nice size bedrooms. This is a must see! Call today and set up your own private showing!

13. 2019-09-27
    listed $115,000 510-char remark

    Show marketing remark (510 chars)

    Looking for something easy, low maintenance and move in ready? Then this is the home for you! New carpet and hardwood floors, new double insulated window downstairs, and all new blinds on the windows! Washer, dryer and refrigerator remain with the home. Open concept downstairs with half bath which is perfect for when you are entertaining. Bedrooms located upstairs with Jack and Jill bathroom. Plenty of closet space and nice size bedrooms. This is a must see! Call today and set up your own private showing!

14. 2006-04-28
    soldstatus

ⓘ 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: $1,738 · $145/mo
• Projected year-2 tax: $1,738 · $145/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 3/10 Moderate FEMA zone X · 18% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,711
• − Mortgage interest: −$7,786
• − Property taxes: −$1,738
• − Insurance: −$695
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − HOA: −$504
• − Depreciation: −$4,044
• Taxable income: $1,791
• Est. tax owed @ 24.0%: −$430
• After-tax cash flow: $3,458/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: Caddo Parish
• NCES district ID: 2200300
• Math proficiency: 21% ▼ -33.00%
• Reading proficiency: 32% ▼ -30.00%
• Median HH income: $39,227
• Composite: 22.23/100
• National rank: #8148
• State rank: #53 of 98 in LA

Livability — Shreveport

• Score: 59/100
• State rank: #270
• US rank: #19730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shreveport, LA
• County: Caddo Parish · 178,536 people
• City population: 164,123
• Metro: Shreveport-Bossier City, LA
• Population (ZIP): 14,413
• Household income: $65,509
• Rent vs Own: 38.3% rent · 61.7% own
• Severe rent burden: 582.0

Population outlook (Caddo County) Hauer SSP2

• Today (2025): 243,190 people
• By 2030: 237,231 · -2.5%
• By 2040: 222,502 · -8.5%
• By 2050: 206,516 · -15.1%
• By 2075: 165,706 · -31.9%
• By 2100: 122,262 · -49.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 21% Two or more races 5% Asian 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 5% Italian 2% Slovak 1%
• Foreign-born: 6% · China, Canada, Vietnam
• Languages at home: 91% English-only · Spanish 4% Chinese 2% Other Indo-European 2%

Political lean MEDSL · Caddo

• 2024 margin: Toss-up / Even · D 51.6% · R 47.0% · Other 1.4%
• 2008→2024 swing: +1.6pp toward D · 2008: 3.0pp · 2024: 4.6pp
• All cycles: 2024: D+4.6 2020: D+6.8 2016: D+4.2 2012: D+4.9 2008: D+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.95%
• Current HPI: 127.4874
• Rent YoY: ▲ 0.07%
• Metro: Shreveport-Bossier City, 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

+20.9% since first listed

7 events — show timeline

• 2026-05-22 Listed $139,000 NTREIS
• 2021-05-17 Sold (Public Records) $118,000 Public Records
• 2021-05-16 Listing Removed — NTREIS
• 2021-05-14 Sold (MLS) — NTREIS
• 2021-04-02 Listing Removed — NTREIS
• 2019-09-27 Listed $115,000 NTREIS
• 2006-04-28 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,738 · +0.4% YoY. Source: county tax records.