35602 Grovemont Dr · Watson, LA 70706

$268,000

4 bd · 2.0 ba · 2,087 sqft · SingleFamily · 251 Days on market

Built 2022 Good condition 6,969 sqft lot $128/sqft · 7% below area Est $288k · 7% under $25/mo HOA · 1% of rent ↓ 3% since listing

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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 +17.0/30.0
• ARV discount +10.7/15.0
• DSCR +5.3/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

Key facts

• Open floor plan
• Splash pad
• Covered patio

Tags

• LAKE LOT
• FULLY FENCED BACK YARD
• COMMUNITY PLAY GROUND
• SPLASH PAD
• OPEN FLOOR PLAN
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $268k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (6.7% below list).
• Recommended offer: $236k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.8% in Watson — 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 71/100 on livability (#50 in LA) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Livingston Parish (suburban): math 40% / reading 52% proficiency, ranked #13 of 98 in LA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 342 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 794 units permitted in Livingston Parish in 2024 (99 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Livingston County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $235,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 A-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. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 8.9

CMA / ARV

• ARV (median comp): $288,439
• List price: $268,000
• Delta: -7.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35602 Grovemont Dr	0.00mi	4/2.0	2,087 (0%)	0mo	$268,000	$128	100
13800 Wincrest Dr	0.40mi	4/2.0	2,079 (-0%)	3mo	$275,000	$132	78
35453 Forest Manor Ave	0.52mi	5/3.0 (+1)	2,022 (-3%)	1mo	$290,900	$144	61
35570 Vandora Dr	0.35mi	5/2.0 (+1)	1,856 (-11%)	3mo	$265,900	$143	58
35570 Vandora Dr	0.35mi	5/2.0 (+1)	1,856 (-11%)	3mo	$266,795	$144	58
35576 Vandora Dr	0.35mi	5/2.0 (+1)	1,856 (-11%)	3mo	$270,900	$146	57
35456 Forest Manor Ave	0.52mi	4/2.0	1,825 (-13%)	1mo	$272,900	$150	54
12816 Ruby Lake Dr	0.59mi	4/2.0	1,865 (-11%)	2mo	$299,900	$161	54
35432 Forest Manor Ave	0.52mi	4/2.0	1,825 (-13%)	2mo	$268,900	$147	53
35441 Forest Manor Ave	0.52mi	4/2.0	1,825 (-13%)	2mo	$274,900	$151	53
35414 Forest Manor Ave	0.52mi	5/2.0 (+1)	1,856 (-11%)	2mo	$271,900	$146	50
35387 Forest Manor Ave	0.52mi	5/2.0 (+1)	1,856 (-11%)	3mo	$270,130	$146	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-32,015
• Equity at exit: $39,960

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-13,174
• Equity at exit: $23,172

Cash invested: $75,040 (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 70706

• Active inventory: 342
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,405
• Tax from tax record: −$254 /mo · $3,045/yr
• Insurance: −$112
• HOA: −$25
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $179

Break-even live

Break-even rent $2,273

Max offer price $268,000

Occupancy floor 88%

Sensitivity live

Price	-10% $331	-5% $255	+0% $179	+5% $103	+10% $27
Rent	-10% $-18	-5% $80	+0% $179	+5% $278	+10% $377
Rate	-1.0pp $314	-0.5pp $247	base $179	+0.5pp $110	+1.0pp $39

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35648 Avery Dr Denham Springs, LA	5.0	2.0	2077	$2,500	$1.20	19d	1	0.55mi

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: watergas

Listing history 21 events

1. 2026-06-10
   days on market $268,000 Active 251 DOM
2. 2026-06-08
   days on market $268,000 Active 249 DOM
3. 2026-06-07
   days on market $268,000 Active 248 DOM
4. 2026-06-03
   days on market $268,000 Active 244 DOM
5. 2026-06-02
   days on market $268,000 Active 243 DOM
6. 2026-06-01
   days on market $268,000 Active 242 DOM
7. 2026-05-31
   days on market $268,000 Active 241 DOM
8. 2026-05-31
   days on market $268,000 Active 240 DOM
9. 2026-05-19
   price $269,000 485-char remark

   Show marketing remark (486 chars)

   Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

10. 2026-05-19
    price $269,000 486-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

11. 2026-05-13
    price $270,000 485-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

12. 2026-05-13
    price $270,000 486-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

13. 2026-04-02
    price $275,000 485-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

14. 2026-04-02
    price $275,000 486-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

15. 2026-01-13
    price $281,000 485-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

16. 2026-01-13
    price $281,000 486-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

17. 2025-10-02
    listed $284,000 Active 485-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

18. 2025-10-02
    listed $284,000 Active 486-char remark

    Show marketing remark (486 chars)

    Beautiful and spacious one-story home! Lake Lot with large fully fenced in back yard! Community play ground and splash pad for the kids! Home has modern, open floor plan design. The family room overlooks the covered patio. The kitchen has a large island, pantry, and is open to the breakfast area. The bedroom suite has a large walk-in closet. Modern finishes include 3 cm granite, stainless gas appliances and hard surface flooring. Tank less water heater. Never run out of hot water!

19. 2023-06-01
    soldstatus
20. 2023-03-17
    listed $1,900
21. 2023-03-01
    soldstatus $277,595

ⓘ 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: $3,045 · $254/mo
• Projected year-2 tax: $3,045 · $254/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$15,012
• − Property taxes: −$3,045
• − Insurance: −$1,340
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$300
• − Depreciation: −$7,796
• Taxable loss: −$2,294
• Est. tax savings @ 24.0%: +$551
• After-tax cash flow: $2,700/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 · 9 photos

Good 80/100 Cosmetic rehab

This one-story home is in good condition with modern finishes and a spacious floor plan. It is move-in ready with minor maintenance items to address.

Value-add opportunities

• Resale Paint exterior shutters — Enhances curb appeal and adds a fresh look.
• Rental Clean gutters — Keeps the property in good condition and prevents water damage to the exterior.
• Both Replace carpet in bedrooms — Fresh carpet in bedrooms improves the overall appearance and adds comfort for potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior shutters — Enhances curb appeal and adds a fresh look. ↑
• Rental Clean gutters — Keeps the property in good condition and prevents water damage to the exterior. ↑
• Both Replace carpet in bedrooms — Fresh carpet in bedrooms improves the overall appearance and adds comfort for potential buyers or renters. ↑

ⓘ 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: Livingston Parish
• NCES district ID: 2201020
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 52% ▼ -32.00%
• Median HH income: $56,755
• Composite: 40.07/100
• National rank: #3811
• State rank: #13 of 98 in LA

Livability — Watson

• Score: 71/100
• State rank: #50
• US rank: #7247

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 22,621

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 158,511 people
• By 2030: 168,241 · +6.1%
• By 2040: 186,252 · +17.5%
• By 2050: 201,516 · +27.1%
• By 2075: 231,217 · +45.9%
• By 2100: 241,697 · +52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Lithuanian 15% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada, China

Political lean MEDSL · Livingston

• 2024 margin: Solid R (+68.5) · D 15.1% · R 83.6% · Other 1.3%
• 2008→2024 swing: +3.4pp toward D · 2008: -71.9pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+70.0 2016: R+72.5 2012: R+70.4 2008: R+71.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.82%
• Current HPI: 160.2185
• Rent YoY: —
• Metro: —
• 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

-3.1% since first listed

13 events — show timeline

• 2026-05-19 Price Changed $269,000 AcadianaMLS
• 2026-05-19 Price Changed $269,000 GBRMLS
• 2026-05-13 Price Changed $270,000 AcadianaMLS
• 2026-05-13 Price Changed $270,000 GBRMLS
• 2026-04-02 Price Changed $275,000 AcadianaMLS
• 2026-04-02 Price Changed $275,000 GBRMLS
• 2026-01-13 Price Changed $281,000 AcadianaMLS
• 2026-01-13 Price Changed $281,000 GBRMLS
• 2025-10-02 Listed $284,000 GBRMLS
• 2025-10-02 Listed $284,000 AcadianaMLS
• 2023-06-01 Sold (MLS) — GBRMLS
• 2023-03-17 Listed $1,900 GBRMLS
• 2023-03-01 Sold (Public Records) $277,595 Public Records

Property tax history

+137.0%/yr

Latest (2024): $3,045 · -5.6% YoY. Source: county tax records.