7000 Creswell Rd #117

Shreveport, LA 71106

$58,000B

1 bd · 1.0 ba · 995 sqft · Built 1970 · Condo · Active · 114 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,093/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$97
• HOA: −$165
• Vac / Maint / Mgmt: −$230
• Net cashflow: $298/mo
• Annual: $3,576/yr
• Cap rate: 12.46%
• Cash-on-cash: 22.02%
• DSCR: 1.98
• 1% rule: 1.89%
• Cash to close: $16,240

Investor read

• This is a 1-bed/1.0-bath condo listed at $58k. Condition is rated good.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• It's been on market 114 days — a 9% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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: crime F, amenities F, commute 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.
• Zoned schools: Caddo Parish Middle Magnet School (math 79% / reading 93%, grade A+, #1 of 218 statewide, top 0%, 1,003 students, 23% FRL); Captain Shreve High School (math 25% / reading 41%, grade F, #116 of 265 statewide, top 44%, 1,851 students, 49% FRL) — zoned schools average 36% FRL vs 64% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 60% at this address vs 26% district-wide (+33 pts) — the actual schools serving this property are materially stronger than the Caddo Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.5%/yr); 627 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 221 units permitted in Caddo Parish in 2024 (0 in 5+ unit buildings).
• Caddo County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 12.5% vs local median 5.5% 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.
• This rent is only 16% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.
• 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?
• 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?