1726 Brightside Dr

Baton Rouge, LA 70820

$799,900D

None bd · None ba · 9,900 sqft · Built — · MultiFamily · Active · 239 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,225/mo
• Mortgage (P&I): −$4,195
• Tax + insurance: −$1,333
• HOA: −$2,475
• Vac / Maint / Mgmt: −$1,937
• Net cashflow: $-715/mo
• Annual: $-8,582/yr
• Cap rate: 5.22%
• Cash-on-cash: -3.83%
• DSCR: 0.83
• 1% rule: 1.15%
• Cash to close: $223,972

Investor read

• This is a multifamily listed at $800k. Condition is rated good.
• At list price, monthly cash flow is $-715 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $696k (12.9% below list).
• Meets the 1% rule at list price ($9k rent vs $800k).
• It's been on market 239 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $696k (12.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#24 in LA, #4,535 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: amenities D, crime F, employment D-.
• East Baton Rouge Parish (urban): math 22% / reading 34% proficiency, ranked #47 of 98 in LA (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Belfair Montessori School (math 27% / reading 47%, grade F, #251 of 646 statewide, top 41%, 264 students, 69% FRL); Glasgow Middle School (math 29% / reading 40%, grade F, #93 of 218 statewide, top 43%, 550 students, 60% FRL); Liberty High School (math 50% / reading 74%, grade B-, #15 of 265 statewide, top 6%, 1,208 students, 60% FRL).
• Zoned-school proficiency averages 44% at this address vs 28% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the East Baton Rouge Parish average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 27% of rent.
• Market conditions: 394 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 10y 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% vs local median 4.1% in Baton Rouge — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $9,225/mo this rent would consume 233% of the median local household income ($47k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 239 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.