308 Woodale Dr #2

Monroe, LA 71203

$350,000C-

20 bd · None ba · 3,200 sqft · Built 2018 · MultiFamily · Active · 818 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,146/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$1,010
• HOA: −$0
• Vac / Maint / Mgmt: −$871
• Net cashflow: $430/mo
• Annual: $5,160/yr
• Cap rate: 9.23%
• Cash-on-cash: 10.49%
• DSCR: 1.47
• 1% rule: 1.18%
• Cash to close: $98,000

Investor read

• This is a 3×2bd/1.5ba + 1×1bd/1.5ba units multifamily listed at $350k. Condition is rated good.
• At list price, monthly cash flow is $430 ($5k/yr) — positive. Per door: $108/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• It's been on market 818 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#128 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute 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.
• Zoned schools: Jack Hayes Elementary School (math 20% / reading 30%, grade F, #381 of 646 statewide, top 59%, 587 students, 83% FRL); Ouachita Junior High School (math 12% / reading 25%, grade F, #169 of 218 statewide, top 78%, 422 students, 80% FRL); Ouachita Parish High School (math 23% / reading 31%, grade F, #136 of 265 statewide, top 55%, 1,191 students, 66% FRL) — zoned schools average 76% FRL vs 52% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Ouachita Parish average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 440 active listings in the ZIP; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 74% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.2% vs local median 5.8% in 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.
• At $4,146/mo this rent would consume 95% of the median local household income ($52k/yr) (locally 2085% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 818 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.