526 N 24th St

Baton Rouge, LA 70802

$80,000B+

3 bd · 1.0 ba · 1,281 sqft · Built 1984 · SingleFamily · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,346/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$283
• Net cashflow: $555/mo
• Annual: $6,663/yr
• Cap rate: 14.62%
• Cash-on-cash: 29.74%
• DSCR: 2.32
• 1% rule: 1.68%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 109 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Park Elementary School (math 2% / reading 17%, grade F, #597 of 646 statewide, top 95%, 336 students, 95% FRL); Capitol Middle School (math 4% / reading 10%, grade F, #212 of 218 statewide, top 97%, 580 students, 87% FRL); Liberty High School (math 50% / reading 74%, grade B-, #15 of 265 statewide, top 6%, 1,208 students, 60% FRL) — zoned schools at 81% FRL track the district average.
• Market conditions: Rents rising fast (+6.6%/yr); 239 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 11 sale attempts since 25y ago; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• 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.
• Cap rate 14.6% vs local median 4.1% 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.
• At $1,346/mo this rent would consume 47% of the median local household income ($34k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets are functional but dated and could be refreshed with new hardware or paint.
• Minor: Bathroom cleaning — The bathroom is cluttered and needs cleaning and organization.
• Moderate: Exterior painting/staining — The exterior siding is weathered and could benefit from repainting or staining to improve curb appeal.
• Minor: Landscaping trimming — The landscaping appears overgrown and could be trimmed to improve curb appeal.