3359 N 38th St · Baton Rouge, LA 70805

$75,000

2 bd · 1.0 ba · 1,286 sqft · SingleFamily · 217 Days on market

Built 1984 8,712 sqft lot $58/sqft · 33% above area Est $56k · 33% over

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

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cottage-style home offers a flexible layout and is located just minutes from the interstate and downtown Baton Rouge! The spacious kitchen is attached to a dining room, perfect for entertaining. The flex space features a fireplace and can be used as a bonus room, extra bedroom, or additional living space. Outside you'll find an open patio and garage with additional storage for all of your tools and holiday decorations. This is the perfect space for anyone looking to be close to the action!

Key facts

• Open patio
• Flexible layout
• Spacious kitchen

Tags

• FLEXIBLE LAYOUT
• SPACIOUS KITCHEN
• DINING ROOM
• FIREPLACE
• BONUS ROOM
• OPEN PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• 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 $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 4.3% in Baton Rouge — 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.

Location & tenants

• 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.
• Market conditions: Rents soft (-1.2%/yr); 155 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• At $1,115/mo this rent would consume 53% of the median local household income ($25k/yr) (locally 1980% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.49% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.37%
• DSCR: 2.08
• GRM: 5.6

CMA / ARV

• ARV (median comp): $56,302
• List price: $75,000
• Delta: 33.21%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3335 N 38th St	0.02mi	3/1.0 (+1)	1,275 (-1%)	6mo	$55,000	$43	87
3430 Oswego St	0.15mi	2/1.0	1,180 (-8%)	1mo	$95,900	$81	79
3017 Winbourne Ave	0.39mi	3/2.0 (+1)	1,307 (+2%)	9mo	$19,900	$15	63
3815 Webb Dr	0.40mi	3/1.0 (+1)	1,190 (-8%)	4mo	$10,000	$8	61
3536 Beechwood Dr	0.66mi	3/1.5 (+1)	1,288 (+0%)	2mo	$77,500	$60	60
3235 Alliquippa St	0.57mi	2/1.0	1,200 (-7%)	5mo	$80,000	$67	58
3238 Eaton St	0.45mi	3/2.0 (+1)	1,300 (+1%)	15mo	$85,000	$65	56
3008 Seneca St	0.64mi	3/1.0 (+1)	1,350 (+5%)	9mo	$64,900	$48	50
3805 Pocasset St	0.69mi	3/2.0 (+1)	1,330 (+3%)	9mo	$32,000	$24	46
3135 Monroe Ave	0.71mi	2/1.0	1,205 (-6%)	13mo	$70,000	$58	45
4236 Delaware St	0.67mi	3/2.0 (+1)	1,200 (-7%)	9mo	$79,500	$66	41
3083 Mission Dr	0.51mi	2/1.0	1,104 (-14%)	14mo	$31,200	$28	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.56×
• Total profit: $11,724
• Equity at exit: $11,183

10-year hold

• IRR: 21.0%
• Equity multiple: 2.55×
• Total profit: $32,472
• Equity at exit: $6,485

Cash invested: $21,000 (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 70805

• Rents YoY: -1.2%
• Active inventory: 155
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,115 high
• Mortgage (P&I): −$393
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $427

Break-even live

Break-even rent $575

Max offer price $75,000

Occupancy floor 57%

Sensitivity live

Price	-10% $469	-5% $448	+0% $427	+5% $405	+10% $384
Rent	-10% $338	-5% $383	+0% $427	+5% $471	+10% $515
Rate	-1.0pp $464	-0.5pp $446	base $427	+0.5pp $407	+1.0pp $387

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3567 Charles St Baton Rouge, LA	3.0	1.0	1400	$1,250	$0.89	44d	1	0.20mi
3888 Charles St Baton Rouge, LA	3.0	2.0	1600	$1,500	$0.94	20d	1	0.21mi
3888 Charles St Baton Rouge, LA	3.0	2.0	1650	$1,425	$0.86	24d	1	0.21mi
3160 Wyandotte St Baton Rouge, LA	2.0	1.0	1100	$800	$0.73	44d	1	0.36mi
3936 Dalton St Baton Rouge, LA	2.0	1.0	900	$750	$0.83	20d	1	0.38mi
3647 Mission Dr Baton Rouge, LA	3.0	1.0	900	$895	$0.99	24d	1	0.50mi
4380 Mohican-Prescott Crossover Baton Rouge, LA	2.0	2.0	910	$1,055	$1.16	44d	1	0.67mi
4236 Delaware St Baton Rouge, LA	3.0	2.0	1600	$1,500	$0.94	24d	1	0.68mi
2645 Seneca St Baton Rouge, LA	3.0	2.0	1650	$1,550	$0.94	24d	1	0.72mi
2347 Rhodes Ave Baton Rouge, LA	2.0	1.0	1250	$950	$0.76	20d	1	0.73mi
2606 Weller Ave Baton Rouge, LA	2.0	1.0	1000	$650	$0.65	44d	1	0.75mi
3540 N Foster Dr Baton Rouge, LA	2.0	1.0	1000	$1,000	$1.00	24d	1	0.76mi
2852 Dayton St Baton Rouge, LA	2.0	1.0	1020	$850	$0.83	24d	1	0.78mi
3906 S Barrow Dr Baton Rouge, LA	3.0	2.0	1523	$1,295	$0.85	24d	1	0.93mi
4809 Longfellow Dr Baton Rouge, LA	3.0	2.0	1786	$1,900	$1.06	15d	1	1.08mi
4912 Breckenridge Ave Baton Rouge, LA	3.0	2.0	1800	$1,075	$0.60	15d	1	1.20mi
1409 N 35th St Baton Rouge, LA	3.0	2.0	912	$750	$0.82	24d	1	1.23mi
1348 N 37th St Baton Rouge, LA	3.0	1.0	1100	$1,200	$1.09	44d	1	1.24mi
1404 N 29th St Baton Rouge, LA	3.0	2.0	1120	$1,100	$0.98	44d	1	1.26mi
5350 Clayton Dr Baton Rouge, LA	3.0	1.0	1050	$850	$0.81	44d	1	1.29mi
1305 N 30th St Baton Rouge, LA	2.0	1.0	1000	$900	$0.90	24d	1	1.30mi
1336 N 29th St Baton Rouge, LA	3.0	2.0	1400	$1,450	$1.04	15d	1	1.30mi
1217 N 44th St Baton Rouge, LA	3.0	2.0	1028	$950	$0.92	24d	1	1.41mi

Listing history 22 events

1. 2026-06-18
   days on market $75,000 Active 217 DOM
2. 2026-06-17
   days on market $75,000 Active 216 DOM
3. 2026-06-16
   days on market $75,000 Active 215 DOM
4. 2026-06-15
   days on market $75,000 Active 214 DOM
5. 2026-06-14
   days on market $75,000 Active 212 DOM
6. 2026-06-10
   days on market $75,000 Active 209 DOM
7. 2026-06-09
   days on market $75,000 Active 208 DOM
8. 2026-06-08
   days on market $75,000 Active 207 DOM
9. 2026-06-07
   days on market $75,000 Active 206 DOM
10. 2026-06-05
    days on market $75,000 Active 203 DOM
11. 2026-06-03
    days on market $75,000 Active 202 DOM
12. 2026-06-02
    days on market $75,000 Active 201 DOM
13. 2026-06-01
    days on market $75,000 Active 200 DOM
14. 2026-05-31
    days on market $75,000 Active 199 DOM
15. 2026-05-31
    days on market $75,000 Active 198 DOM
16. 2025-12-23
    price $75,000 499-char remark

    Show marketing remark (499 chars)

    This cottage-style home offers a flexible layout and is located just minutes from the interstate and downtown Baton Rouge! The spacious kitchen is attached to a dining room, perfect for entertaining. The flex space features a fireplace and can be used as a bonus room, extra bedroom, or additional living space. Outside you'll find an open patio and garage with additional storage for all of your tools and holiday decorations. This is the perfect space for anyone looking to be close to the action!

17. 2025-12-23
    price $75,000 499-char remark

    Show marketing remark (499 chars)

    This cottage-style home offers a flexible layout and is located just minutes from the interstate and downtown Baton Rouge! The spacious kitchen is attached to a dining room, perfect for entertaining. The flex space features a fireplace and can be used as a bonus room, extra bedroom, or additional living space. Outside you'll find an open patio and garage with additional storage for all of your tools and holiday decorations. This is the perfect space for anyone looking to be close to the action!

18. 2025-11-13
    listed $79,900 Active 499-char remark

    Show marketing remark (499 chars)

    This cottage-style home offers a flexible layout and is located just minutes from the interstate and downtown Baton Rouge! The spacious kitchen is attached to a dining room, perfect for entertaining. The flex space features a fireplace and can be used as a bonus room, extra bedroom, or additional living space. Outside you'll find an open patio and garage with additional storage for all of your tools and holiday decorations. This is the perfect space for anyone looking to be close to the action!

19. 2025-11-13
    listed $79,900 Active 499-char remark

    Show marketing remark (499 chars)

    This cottage-style home offers a flexible layout and is located just minutes from the interstate and downtown Baton Rouge! The spacious kitchen is attached to a dining room, perfect for entertaining. The flex space features a fireplace and can be used as a bonus room, extra bedroom, or additional living space. Outside you'll find an open patio and garage with additional storage for all of your tools and holiday decorations. This is the perfect space for anyone looking to be close to the action!

20. 2004-05-28
    soldstatus
21. 2004-03-30
    listed $24,900
22. 2004-03-30
    listed $24,900

ⓘ 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: $356 · $30/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$57/yr (+$5/mo · 16.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,378
• − Mortgage interest: −$4,201
• − Property taxes: −$356
• − Insurance: −$375
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$2,182
• Taxable income: $4,124
• Est. tax owed @ 24.0%: −$990
• After-tax cash flow: $4,129/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: East Baton Rouge Parish
• NCES district ID: 2200540
• Math proficiency: 22% ▼ -36.00%
• Reading proficiency: 34% ▼ -31.00%
• Median HH income: $46,263
• Composite: 24.14/100
• National rank: #7745
• State rank: #47 of 98 in LA

Livability — Baton Rouge

• Score: 74/100
• State rank: #24
• US rank: #4535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baton Rouge, LA
• County: East Baton Rouge Parish · 399,686 people
• City population: 351,868
• Metro: Baton Rouge, LA
• Population (ZIP): 23,288
• Household income: $25,397
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 1980.0

Population outlook (East Baton Rouge County) Hauer SSP2

• Today (2025): 464,810 people
• By 2030: 472,137 · +1.6%
• By 2040: 480,243 · +3.3%
• By 2050: 484,422 · +4.2%
• By 2075: 492,069 · +5.9%
• By 2100: 476,347 · +2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (95%)
• Race & ethnicity: Black 95% Hispanic / Latino 2% White 2% Two or more races 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · East Baton Rouge

• 2024 margin: D (+11.1) · D 54.5% · R 43.4% · Other 2.1%
• 2008→2024 swing: +8.9pp toward D · 2008: 2.2pp · 2024: 11.1pp
• All cycles: 2024: D+11.1 2020: D+13.1 2016: D+9.2 2012: D+5.2 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.79%
• Current HPI: 75.7121
• Rent YoY: ▼ -1.21%
• Metro: Baton Rouge, 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

+201.2% since first listed

7 events — show timeline

• 2025-12-23 Price Changed $75,000 AcadianaMLS
• 2025-12-23 Price Changed $75,000 GBRMLS
• 2025-11-13 Listed $79,900 GBRMLS
• 2025-11-13 Listed $79,900 AcadianaMLS
• 2004-05-28 Sold (MLS) — GBRMLS
• 2004-03-30 Listed $24,900 GBRMLS
• 2004-03-30 Listed $24,900 AcadianaMLS

Property tax history

+2.4%/yr

Latest (2025): $356 · +4.7% YoY. Source: county tax records.