1115 Heyman Ln · Alexandria, LA 71303

$165,000

4 bd · 3.0 ba · 4,078 sqft · SingleFamily public records

Built 1972 0.71 ac lot ↓ 23% 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL!! Although this home needs some attention, once brought back to life, it will be one of a kind. 4 bedrooms, 3.5 bathrooms, with 4,400 HSF, 2 staircases, 4 large walk-in closets, large bedrooms, 2 private rooms. Upstairs has a split floorplan with plenty of privacy. There is income potential with the separate apartment across the courtyard with its own private yard and large kitchen. HOME WILL NOT QUALIFY FOR FHA OR VA LOAN.

Key facts

• 0.71 acre lot
• Parking
• Built 1972

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.9% vs local median 4.9% in Alexandria — 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 64/100 on livability (#160 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Rapides Parish (urban): math 29% / reading 44% proficiency, ranked #31 of 98 in LA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 174 active listings in the ZIP; 239 units permitted in Rapides Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rapides County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 13y ago; this cycle's ask has dropped $110k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $379,254
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Hartwood Dr	0.30mi	5/3.0 (+1)	3,935 (-4%)	3mo	$366,200	$93	73
4210 Wellington Blvd	0.38mi	4/3.5	4,228 (+4%)	3mo	$300,000	$71	72
4402 Wellington Blvd	0.46mi	5/4.5 (+1)	4,179 (+2%)	3mo	$426,000	$102	60

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,090
• Equity at exit: $24,602

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $25,737
• Equity at exit: $14,266

Cash invested: $46,200 (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 71303

• Home prices YoY: -29.8%
• Active inventory: 174
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,934 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$239 /mo · $2,871/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $355

Break-even live

Break-even rent $1,485

Max offer price $165,000

Occupancy floor 77%

Sensitivity live

Price	-10% $448	-5% $402	+0% $355	+5% $308	+10% $261
Rent	-10% $202	-5% $278	+0% $355	+5% $431	+10% $508
Rate	-1.0pp $438	-0.5pp $397	base $355	+0.5pp $312	+1.0pp $269

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2025-02-24
   soldstatus $230,000
2. 2025-01-07
   listed $275,000 Active
3. 2024-12-16
   soldstatus $165,000
4. 2024-10-14
   listed $165,000
5. 2022-12-12
   listed $375,000
6. 2020-02-06
   listed $250,000
7. 2019-07-02
   listed $240,000
8. 2019-01-09
   listed $320,000
9. 2013-05-30
   listed $299,900

ⓘ 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: $2,871 · $239/mo
• Projected year-2 tax: $2,871 · $239/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $23,212
• − Mortgage interest: −$9,243
• − Property taxes: −$2,871
• − Insurance: −$825
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$4,800
• Taxable income: $1,759
• Est. tax owed @ 24.0%: −$422
• After-tax cash flow: $3,835/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: Rapides Parish
• NCES district ID: 2201290
• Math proficiency: 29% ▼ -34.00%
• Reading proficiency: 44% ▼ -29.00%
• Median HH income: $41,057
• Composite: 30.68/100
• National rank: #6179
• State rank: #31 of 98 in LA

Livability — Alexandria

• Score: 64/100
• State rank: #160
• US rank: #13698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alexandria, LA
• County: Rapides Parish · 59,791 people
• City population: 25,138
• Metro: Alexandria, LA
• Population (ZIP): 25,138
• Household income: $67,156
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1098.0

Population outlook (Rapides County) Hauer SSP2

• Today (2025): 133,047 people
• By 2030: 132,333 · -0.5%
• By 2040: 129,355 · -2.8%
• By 2050: 124,535 · -6.4%
• By 2075: 110,338 · -17.1%
• By 2100: 88,641 · -33.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 57% Black 36% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Lithuanian 6% Italian 1% Serbian 1%
• Foreign-born: 4% · China, Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Rapides

• 2024 margin: Solid R (+36.8) · D 31.0% · R 67.7% · Other 1.3%
• 2008→2024 swing: -8.1pp toward R · 2008: -28.7pp · 2024: -36.8pp
• All cycles: 2024: R+36.8 2020: R+32.1 2016: R+32.5 2012: R+29.6 2008: R+28.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.84%
• Current HPI: 183.4342
• Rent YoY: —
• Metro: Alexandria, 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

-23.3% since first listed

9 events — show timeline

• 2025-02-24 Sold (Public Records) $230,000 Public Records
• 2025-01-07 Listed $275,000 AcadianaMLS
• 2024-12-16 Sold (Public Records) $165,000 Public Records
• 2024-10-14 Listed $165,000 AcadianaMLS
• 2022-12-12 Listed $375,000 AcadianaMLS
• 2020-02-06 Listed $250,000 AcadianaMLS
• 2019-07-02 Listed $240,000 AcadianaMLS
• 2019-01-09 Listed $320,000 AcadianaMLS
• 2013-05-30 Listed $299,900 AcadianaMLS

Property tax history

-2.1%/yr

Latest (2025): $2,871 · -26.0% YoY. Source: county tax records.