7000 Creswell Rd #117

Shreveport, LA 71106

$63,000B

1 bd · 1.0 ba · 995 sqft · Built 1970 · Condo · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,300/mo
• Mortgage (P&I): −$330
• Tax + insurance: −$105
• HOA: −$165
• Vac / Maint / Mgmt: −$273
• Net cashflow: $427/mo
• Annual: $5,120/yr
• Cap rate: 14.42%
• Cash-on-cash: 29.02%
• DSCR: 2.29
• 1% rule: 2.06%
• Cash to close: $17,640

Investor read

• This is a 1-bed/1.0-bath condo listed at $63k. Condition is rated good.
• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• It's been on market 16 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $436 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: 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 rising fast (+7.5%/yr); 485 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 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.
• 2 sale attempts since 4y 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.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.4% 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.

Questions for listing agent

• 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?
• 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?
• 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.
• 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.