647 Kirby Pl · Shreveport, LA 71104

$25,950

4 bd · 2.0 ba · 2,822 sqft · MultiFamily public records · 140 Days on market

Built 1970 0.28 ac lot ↓ 35% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Large reduction in list price. Come check and check out this investment opportunity. This property was a duplex house with an address of 647-649 Kirby Place and a detached garage apartment with an address of 651 Kirby Place at one time. The duplex had a large tree fall on it and had to be torn down. This property is now mostly vacant lot but with a free standing 2 car garage that has a 1 bed, 1 bath apartment above it. The tax record still shows the address as 647 Kirby but the apartment has the address of 651 on the outside. The garage apartment is in average condition and could be rented out or lived in while a new house is being built on the lot.

Key facts

• Free standing garage
• 0.28 acre lot
• 2 garage spots

Tags

• DETACHED GARAGE APARTMENT
• FREE STANDING GARAGE

Property features AI

Finance

• Other: Parcel number: 171307035006200
• Financial info: Special listing condition: Real Estate Owned; Listing agreement: Exclusive Right to Sell
• HOA & community: No HOA

Exterior

• Parking: 2 covered parking spaces; 2-car garage
• Utilities: City sewer; City water; Not in a municipal utility district
• Home design: Single family residence; Residential property; Attached property; One level
• Construction: Built in 1970
• Exterior features: Lot under 0.5 acre (approximately 0.279 acres); Subdivision: Curwood Sub; Directions: Kings Hwy to Line Ave going north to Kirby Place on right

Interior

• Kitchen: Electric range
• Bedrooms: 1 bedroom (Primary bedroom on level 1)
• Bathrooms: 1 full bathroom
• Interior features: Cable TV available; One living area; One dining area; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $26k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $26k).
• Recommended offer: $23k (12.0% below list) — sets the bar for market timing.
• Cap rate 68.2% 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.

Location & tenants

• 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 (+3.6%/yr); 146 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 221 units permitted in Caddo Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($57k/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 $180 of loan paydown is wiped out by about $778 of value loss. Plan a longer hold.
• Caddo County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,836 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 7.41% ✓
• Cap rate: 68.21%
• Cash-on-cash: 221.15%
• DSCR: 10.84
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $149,566
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 Robinson	0.15mi	5/3.0 (+1)	2,587 (-8%)	13mo	$75,000	$29	59
561 Forest Ave	0.33mi	5/3.0 (+1)	3,127 (+11%)	8mo	$164,900	$53	51
817 Boulevard St	0.42mi	5/3.0 (+1)	2,553 (-10%)	17mo	$180,000	$71	42
159 College St	0.74mi	4/2.0	3,226 (+14%)	2mo	$14,900	$5	40

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 · 3.56% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.74×
• Total profit: $78,006
• Equity at exit: $3,869

10-year hold

• IRR: —
• Equity multiple: 25.37×
• Total profit: $177,096
• Equity at exit: $2,244

Cash invested: $7,266 (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 71104

• Home prices YoY: -32.2%
• Rents YoY: 3.6%
• Active inventory: 146
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$136
• Tax est. 1.5%: −$32 /mo · $389/yr
• Insurance: −$11
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $1,273

Break-even live

Break-even rent $311

Max offer price $25,950

Occupancy floor 29%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,922
Total (2 units)			$1,922

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: $6,488
• Closing costs: $778
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Stephenson St Shreveport, LA	3.0	2.5	2642	$2,000	$0.76	21d	1	0.62mi
3624 Gilbert Dr Shreveport, LA	3.0	3.0	2088	$1,900	$0.91	43d	1	0.70mi

Listing history 7 events

1. 2026-04-17
   status Pending
2. 2026-04-07
   price $25,950
3. 2026-03-04
   price $29,950
4. 2026-01-27
   price $34,950
5. 2025-11-26
   listed $39,950 Active
6. 2008-07-11
   soldstatus
7. 2005-05-10
   soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,064
• − Mortgage interest: −$1,454
• − Property taxes: −$389
• − Insurance: −$927
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$755
• Taxable income: $15,849
• Est. tax owed @ 24.0%: −$3,804
• After-tax cash flow: $11,467/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: Caddo Parish
• NCES district ID: 2200300
• Math proficiency: 21% ▼ -33.00%
• Reading proficiency: 32% ▼ -30.00%
• Median HH income: $39,227
• Composite: 22.23/100
• National rank: #8148
• State rank: #53 of 98 in LA

Livability — Shreveport

• Score: 59/100
• State rank: #270
• US rank: #19730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shreveport, LA
• County: Caddo Parish · 178,536 people
• City population: 164,123
• Metro: Shreveport-Bossier City, LA
• Population (ZIP): 12,975
• Household income: $56,833
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 759.0

Population outlook (Caddo County) Hauer SSP2

• Today (2025): 243,190 people
• By 2030: 237,231 · -2.5%
• By 2040: 222,502 · -8.5%
• By 2050: 206,516 · -15.1%
• By 2075: 165,706 · -31.9%
• By 2100: 122,262 · -49.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 28% Two or more races 10% Hispanic / Latino 10% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 6% Lithuanian 4% Scottish 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% French/Haitian/Cajun 1% Tagalog/Filipino 1%

Political lean MEDSL · Caddo

• 2024 margin: Toss-up / Even · D 51.6% · R 47.0% · Other 1.4%
• 2008→2024 swing: +1.6pp toward D · 2008: 3.0pp · 2024: 4.6pp
• All cycles: 2024: D+4.6 2020: D+6.8 2016: D+4.2 2012: D+4.9 2008: D+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.61%
• Current HPI: 104.3781
• Rent YoY: ▲ 3.56%
• Metro: Shreveport-Bossier City, 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

-35.0% since first listed

7 events — show timeline

• 2026-04-17 Pending — NTREIS
• 2026-04-07 Price Changed $25,950 NTREIS
• 2026-03-04 Price Changed $29,950 NTREIS
• 2026-01-27 Price Changed $34,950 NTREIS
• 2025-11-26 Listed $39,950 NTREIS
• 2008-07-11 Sold (Public Records) — Public Records
• 2005-05-10 Sold (Public Records) — Public Records

Property tax history

-0.1%/yr

Latest (2025): $2,185 · +0.4% YoY. Source: county tax records.