61 W Elmwood Dr · Monroe, LA 71203

$170,000

6 bd · 4.5 ba · — sqft · MultiFamily · 98 Days on market

Built 1980 Fair condition 0.33 ac lot ↓ 6% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Income-producing triplex located at 61 W Elmwood Dr in Monroe! This property features three rental units with a strong rental history and approximately $2,000 in monthly gross income. Unit A offers 2 bedrooms and 1 bath currently rented for $650/month with lease in place through 4/30/2026 . Unit B includes 2 bedrooms and 1.5 baths rented for $650/month (month-to-month). Unit C offers 2 bedrooms and 2 baths, has been recently updated and rented for $700/month (month-to-month). Property is serviced by public utilities and offers a great opportunity for investors looking to expand their rental portfolio or add steady cash flow. All information deemed reliable but not guaranteed. Buyer’s agent to verify.

Key facts

• 0.33 acre lot
• Built 1980
• Listed 97 days

🏷️ Possibly a rental listed for sale. The $170,000 price doesn't fit this home's estimated sale value (~$606,609) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2×2.0bd/1.5ba + 1×2.0bd/2.0ba units multifamily listed at $170k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $428/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $170k).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 5.7% in Monroe — 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 66/100 on livability (#128 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 437 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• At $3,652/mo this rent would consume 84% of the median local household income ($52k/yr) (locally 2085% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 74% 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 $154,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 2.15% ✓
• Cap rate: 18.37%
• Cash-on-cash: 43.12%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

• ARV (median comp): $606,609
• List price: $170,000
• Delta: -71.98%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 2.15×
• Total profit: $54,530
• Equity at exit: $25,348

10-year hold

• IRR: 35.1%
• Equity multiple: 4.24×
• Total profit: $154,051
• Equity at exit: $14,698

Cash invested: $47,600 (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 71203

• Home prices YoY: -32.4%
• Active inventory: 437
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $3,652 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$767
• Net cashflow: $1,284

Break-even live

Break-even rent $2,027

Max offer price $170,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1.5	$2,434
1× unit	2.0	2	$1,217
Total (3 units)			$3,652

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Pecan Bayou Dr Monroe, LA	5.0	3.0	3160	$3,400	$1.08	43d	1	1.06mi

Listing history 18 events

1. 2026-06-19
   days on market $170,000 Active 98 DOM
2. 2026-06-18
   days on market $170,000 Active 97 DOM
3. 2026-06-17
   days on market $170,000 Active 96 DOM
4. 2026-06-16
   days on market $170,000 Active 95 DOM
5. 2026-06-15
   days on market $170,000 Active 94 DOM
6. 2026-06-14
   days on market $170,000 Active 92 DOM
7. 2026-06-13
   days on market $170,000 Active 91 DOM
8. 2026-06-10
   days on market $170,000 Active 89 DOM
9. 2026-06-09
   days on market $170,000 Active 88 DOM
10. 2026-06-08
    days on market $170,000 Active 87 DOM
11. 2026-06-07
    days on market $170,000 Active 86 DOM
12. 2026-06-03
    days on market $170,000 Active 82 DOM
13. 2026-06-02
    days on market $170,000 Active 81 DOM
14. 2026-06-01
    days on market $170,000 Active 80 DOM
15. 2026-05-31
    days on market $170,000 Active 79 DOM
16. 2026-05-30
    days on market $170,000 Active 78 DOM
17. 2026-05-04
    price $170,000 715-char remark

    Show marketing remark (715 chars)

    Income-producing triplex located at 61 W Elmwood Dr in Monroe! This property features three rental units with a strong rental history and approximately $2,000 in monthly gross income. Unit A offers 2 bedrooms and 1 bath currently rented for $650/month with lease in place through 4/30/2026 . Unit B includes 2 bedrooms and 1.5 baths rented for $650/month (month-to-month). Unit C offers 2 bedrooms and 2 baths, has been recently updated and rented for $700/month (month-to-month). Property is serviced by public utilities and offers a great opportunity for investors looking to expand their rental portfolio or add steady cash flow. All information deemed reliable but not guaranteed. Buyer’s agent to verify.

18. 2026-03-13
    listed $180,000 Active 715-char remark

    Show marketing remark (715 chars)

    Income-producing triplex located at 61 W Elmwood Dr in Monroe! This property features three rental units with a strong rental history and approximately $2,000 in monthly gross income. Unit A offers 2 bedrooms and 1 bath currently rented for $650/month with lease in place through 4/30/2026 . Unit B includes 2 bedrooms and 1.5 baths rented for $650/month (month-to-month). Unit C offers 2 bedrooms and 2 baths, has been recently updated and rented for $700/month (month-to-month). Property is serviced by public utilities and offers a great opportunity for investors looking to expand their rental portfolio or add steady cash flow. All information deemed reliable but not guaranteed. Buyer’s agent to verify.

ⓘ 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 6/10 Major FEMA zone AE · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $43,824
• − Mortgage interest: −$9,523
• − Property taxes: −$2,550
• − Insurance: −$5,968
• − Repairs & maintenance: −$3,506
• − Management: −$3,506
• − Depreciation: −$4,945
• Taxable income: $13,826
• Est. tax owed @ 24.0%: −$3,318
• After-tax cash flow: $12,086/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This triplex requires moderate renovations, including landscaping and organization, to improve its curb appeal and overall condition.

Repairs flagged

• Minor Kitchen countertops — Cluttered and items on countertops.
• Minor Bathroom countertops — Cluttered and items on countertops.
• Major Yard — Overgrown grass and debris need removal and landscaping

Value-add opportunities

• Both Landscaping and curb appeal — Improved appearance attracts more tenants and buyers.
• Both Kitchen and bathroom organization — Clutter detracts from the home's appeal and can be easily addressed with organization and storage solutions.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Cluttered and items on countertops.	Minor	$500–3,000
Bathroom countertops · Cluttered and items on countertops.	Minor	$500–3,000
Yard · Overgrown grass and debris need removal and landscaping	Major	$15,000–50,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Both Landscaping and curb appeal — Improved appearance attracts more tenants and buyers. ↑
• Both Kitchen and bathroom organization — Clutter detracts from the home's appeal and can be easily addressed with organization and storage solutions. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ouachita Parish
• NCES district ID: 2201200
• Math proficiency: 31% ▼ -38.00%
• Reading proficiency: 45% ▼ -31.00%
• Median HH income: $43,316
• Composite: 32.14/100
• National rank: #5791
• State rank: #26 of 98 in LA

Livability — Monroe

• Score: 66/100
• State rank: #128
• US rank: #11948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ouachita Parish · 118,340 people
• Metro: Monroe, LA
• Population (ZIP): 38,354
• Household income: $52,326
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 2085.0

Population outlook (Ouachita County) Hauer SSP2

• Today (2025): 163,370 people
• By 2030: 165,520 · +1.3%
• By 2040: 167,652 · +2.6%
• By 2050: 166,699 · +2.0%
• By 2075: 156,348 · -4.3%
• By 2100: 134,102 · -17.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 48% White 45% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 3% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Ouachita

• 2024 margin: Strong R (+27.9) · D 35.5% · R 63.3% · Other 1.2%
• 2008→2024 swing: -2.7pp toward R · 2008: -25.2pp · 2024: -27.9pp
• All cycles: 2024: R+27.9 2020: R+23.6 2016: R+25.4 2012: R+20.9 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.01%
• Current HPI: 206.1948
• Rent YoY: —
• Metro: Monroe, 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

-5.6% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $170,000 NELABOR
• 2026-03-13 Listed $180,000 NELABOR