168 Janice · Leesville, LA 71446

$180,000

3 bd · 2.0 ba · 1,693 sqft · SingleFamily · 67 Days on market

Built 1991 0.75 ac lot Est $240k · 25% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.2/30.0
• Rent growth +4.9/5.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ABSOLUTELY STUNNING HOME ON NICE LOT WITH BEAUTIFUL LANDSCAPING, LARGE FENCED IN BACK YARD WITH COVERED PATIO AND A DOUBLE CAR GARAGE, THIS HOME FEATURES A LARGE LIVING ROOM WITH WOOD BURNING FIREPLACE, THAT IS OPEN TO A KITCHEN AND DINING ROOM, 3 GENEROUS SIZE BEDROOMS, 2 FULL BATHS, BATH A NEW ROOF, AND NEW SEWER SYSTEM, PLEASE CALL NELDA AT 239-2626 OR 208-5268 TO SEE

Key facts

• 0.75 acre lot
• Built 1991
• Listed 66 days

Tags

• LARGE FENCED IN BACK YARD
• WOOD BURNING FIREPLACE
• OPEN TO KITCHEN DINING AREA

Property features AI

Exterior

• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Brick construction; Slab foundation
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher, Refrigerator
• Flooring: Wood flooring; Carpet flooring; Ceramic tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: 7 total rooms; Dishwasher, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-35 ($-417/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (21.7% below list).
• Recommended offer: $141k (21.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#30 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Vernon Parish (rural): math 35% / reading 51% proficiency, ranked #18 of 98 in LA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.6%/yr); 210 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 26 units permitted in Vernon Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Vernon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask is 11513% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $147k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,989 (21.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $240,406
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
193 Ramona Dr	0.38mi	3/2.0	1,750 (+3%)	3mo	$225,000	$129	74
291 Veterans Ln	0.47mi	3/2.0	1,764 (+4%)	12mo	$253,000	$143	61
293 Veterans Ln	0.50mi	4/3.0 (+1)	1,782 (+5%)	11mo	$253,000	$142	49

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.52×
• Total profit: $-23,965
• Equity at exit: $26,839

10-year hold

• IRR: 2.3%
• Equity multiple: 1.20×
• Total profit: $10,045
• Equity at exit: $15,563

Cash invested: $50,400 (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 71446

• Home prices YoY: -32.1%
• Rents YoY: 9.6%
• Active inventory: 210
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$130 /mo · $1,555/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-35

Break-even live

Break-even rent $1,454

Max offer price $173,867

Occupancy floor 97%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 sycamore Ln Leesville, LA	2.0	2.0–2.5	1174	$1,018	$0.87	43d	2	0.59mi
411 Eissman Rd Leesville, LA	2.0	1.0–1.5	1000	$818	$0.82	43d	1	1.14mi

Listing history 25 events

1. 2026-06-19
   days on market $180,000 Active 67 DOM
2. 2026-06-18
   days on market $180,000 Active 66 DOM
3. 2026-06-17
   days on market $180,000 Active 65 DOM
4. 2026-06-16
   days on market $180,000 Active 64 DOM
5. 2026-06-15
   days on market $180,000 Active 63 DOM
6. 2026-06-14
   days on market $180,000 Active 61 DOM
7. 2026-06-12
   days on market $180,000 Active 60 DOM
8. 2026-06-09
   days on market $180,000 Active 57 DOM
9. 2026-06-08
   days on market $180,000 Active 56 DOM
10. 2026-06-07
    days on market $180,000 Active 55 DOM
11. 2026-06-07
    days on market $180,000 Active 54 DOM
12. 2026-06-04
    days on market $180,000 Active 51 DOM
13. 2026-06-02
    days on market $180,000 Active 50 DOM
14. 2026-06-01
    days on market $180,000 Active 49 DOM
15. 2026-05-31
    days on market $180,000 Active 48 DOM
16. 2026-05-31
    days on market $180,000 Active 47 DOM
17. 2026-05-15
    historical Active Under Contract
18. 2026-03-27
    historical $1,550
19. 2026-03-23
    historical
20. 2026-02-28
    listed $1,550
21. 2026-02-20
    listed $180,000 Active
22. 2009-08-06
    soldstatus 374-char remark

    Show marketing remark (374 chars)

    ABSOLUTELY STUNNING HOME ON NICE LOT WITH BEAUTIFUL LANDSCAPING, LARGE FENCED IN BACK YARD WITH COVERED PATIO AND A DOUBLE CAR GARAGE, THIS HOME FEATURES A LARGE LIVING ROOM WITH WOOD BURNING FIREPLACE, THAT IS OPEN TO A KITCHEN AND DINING ROOM, 3 GENEROUS SIZE BEDROOMS, 2 FULL BATHS, BATH A NEW ROOF, AND NEW SEWER SYSTEM, PLEASE CALL NELDA AT 239-2626 OR 208-5268 TO SEE

23. 2009-08-06
    soldstatus $147,000

    Show marketing remark (374 chars)

    ABSOLUTELY STUNNING HOME ON NICE LOT WITH BEAUTIFUL LANDSCAPING, LARGE FENCED IN BACK YARD WITH COVERED PATIO AND A DOUBLE CAR GARAGE, THIS HOME FEATURES A LARGE LIVING ROOM WITH WOOD BURNING FIREPLACE, THAT IS OPEN TO A KITCHEN AND DINING ROOM, 3 GENEROUS SIZE BEDROOMS, 2 FULL BATHS, BATH A NEW ROOF, AND NEW SEWER SYSTEM, PLEASE CALL NELDA AT 239-2626 OR 208-5268 TO SEE

24. 2009-06-17
    listed $165,000 374-char remark

    Show marketing remark (374 chars)

    ABSOLUTELY STUNNING HOME ON NICE LOT WITH BEAUTIFUL LANDSCAPING, LARGE FENCED IN BACK YARD WITH COVERED PATIO AND A DOUBLE CAR GARAGE, THIS HOME FEATURES A LARGE LIVING ROOM WITH WOOD BURNING FIREPLACE, THAT IS OPEN TO A KITCHEN AND DINING ROOM, 3 GENEROUS SIZE BEDROOMS, 2 FULL BATHS, BATH A NEW ROOF, AND NEW SEWER SYSTEM, PLEASE CALL NELDA AT 239-2626 OR 208-5268 TO SEE

25. 2006-05-30
    soldstatus 194-char remark

    Show marketing remark (194 chars)

    This home is located on a large lot with 3 bedrooms, 2 full baths, a large utility room, a wood burning fireplace, a fenced in back yard with a 2 car garage. Please call Nelda at 239-2626 to see

ⓘ 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: $1,555 · $130/mo
• Projected year-2 tax: $1,555 · $130/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,919
• − Mortgage interest: −$10,083
• − Property taxes: −$1,555
• − Insurance: −$900
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$5,236
• Taxable loss: −$3,563
• Est. tax savings @ 24.0%: +$855
• After-tax cash flow: $438/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: Vernon Parish
• NCES district ID: 2201830
• Math proficiency: 35% ▼ -42.00%
• Reading proficiency: 51% ▼ -32.00%
• Median HH income: $44,822
• Composite: 36.42/100
• National rank: #4674
• State rank: #18 of 98 in LA

Livability — Leesville

• Score: 73/100
• State rank: #30
• US rank: #5046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Vernon Parish · 21,275 people
• City population: 21,275
• Metro: Fort Polk South, LA
• Population (ZIP): 21,275
• Household income: $55,925
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 659.0

Population outlook (Vernon County) Hauer SSP2

• Today (2025): 45,401 people
• By 2030: 43,015 · -5.3%
• By 2040: 38,171 · -15.9%
• By 2050: 34,087 · -24.9%
• By 2075: 28,267 · -37.7%
• By 2100: 25,486 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 6% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada, South Korea, Vietnam
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Vernon

• 2024 margin: Solid R (+67.9) · D 15.6% · R 83.4% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -53.4pp · 2024: -67.9pp
• All cycles: 2024: R+67.9 2020: R+64.9 2016: R+65.0 2012: R+57.5 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.06%
• Current HPI: 128.8849
• Rent YoY: ▲ 9.60%
• Metro: Fort Polk South, 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

-99.1% since first listed

9 events — show timeline

• 2026-05-15 Contingent — GFPAR
• 2026-03-27 Rental Removed $1,550 APPFOLIO
• 2026-03-23 Delisted — GFPAR
• 2026-02-28 Listed for Rent $1,550 APPFOLIO
• 2026-02-20 Listed $180,000 GFPAR
• 2009-08-06 Sold (Public Records) $147,000 Public Records
• 2009-08-06 Sold (MLS) — GFPAR
• 2009-06-17 Listed $165,000 GFPAR
• 2006-05-30 Sold (MLS) — GFPAR

Property tax history

+1.1%/yr

Latest (2025): $1,555 · -5.9% YoY. Source: county tax records.