407 Miller Ave · Leesville, LA 71446

$115,000

4 bd · 2.0 ba · 2,285 sqft · SingleFamily · 23 Days on market

0.75 ac lot ↓ 23% 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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This single-family home offers great potential for investors or buyers looking to add their personal touch. Featuring 4 bedrooms and 2 bathrooms, this spacious property includes a pantry, a large utility room, and a partially fenced backyard--perfect for future improvements or outdoor enjoyment. With a little TLC, this home could be transformed into a fantastic rental or primary residence. Conveniently situated within walking distance to Leesville High School, it provides easy access to local amenities, schools, and daily needs. Don't miss this value-packed opportunity to invest in Leesville!

Key facts

• Pantry
• Large utility room
• 0.75 acre lot

Tags

• PANTRY
• LARGE UTILITY ROOM
• PARTIALLY FENCED BACKYARD
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Composition roof; Located on a corner lot; Zoned residential

Interior

• Bathrooms: 2 full bathrooms
• Interior features: 10 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 7.3% in Leesville — 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 73/100 on livability (#30 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Vernon Parish (rural): math 35% / reading 51% proficiency, ranked #18 of 98 in LA (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.6%/yr); 210 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 26 units permitted in Vernon Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Vernon County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
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: 1.44% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.55%
• DSCR: 2.00
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $274,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 S 7th St	0.64mi	4/3.0	2,370 (+4%)	1mo	$283,900	$120	59
102 E Lee St	0.48mi	3/2.0 (-1)	2,244 (-2%)	18mo	$265,000	$118	55

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.89×
• Total profit: $28,636
• Equity at exit: $17,147

10-year hold

• IRR: 31.8%
• Equity multiple: 4.55×
• Total profit: $114,300
• Equity at exit: $9,943

Cash invested: $32,200 (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 71446

• Home prices YoY: -32.1%
• Rents YoY: 9.6%
• Active inventory: 210
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $605

Break-even live

Break-even rent $891

Max offer price $115,000

Occupancy floor 58%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1219 Port Arthur Ter Leesville, LA	3.0	2.0	1800	$1,400	$0.78	43d	1	1.20mi

Listing history 21 events

1. 2026-06-19
   days on market $115,000 Active 23 DOM
2. 2026-06-18
   days on market $115,000 Active 22 DOM
3. 2026-06-17
   days on market $115,000 Active 21 DOM
4. 2026-06-16
   days on market $115,000 Active 20 DOM
5. 2026-06-15
   days on market $115,000 Active 19 DOM
6. 2026-06-14
   days on market $115,000 Active 17 DOM
7. 2026-06-12
   days on market $115,000 Active 16 DOM
8. 2026-06-09
   days on market $115,000 Active 13 DOM
9. 2026-06-08
   days on market $115,000 Active 12 DOM
10. 2026-06-07
    days on market $115,000 Active 11 DOM
11. 2026-06-07
    days on market $115,000 Active 10 DOM
12. 2026-06-04
    days on market $115,000 Active 7 DOM
13. 2026-06-02
    days on market $115,000 Active 6 DOM
14. 2026-06-01
    days on market $115,000 Active 5 DOM
15. 2026-05-31
    days on market $115,000 Active 4 DOM
16. 2026-05-31
    days on market $115,000 Active 3 DOM
17. 2026-05-27
    listed $115,000 Active
18. 2025-12-04
    price $120,000
19. 2025-11-10
    price $129,000
20. 2025-10-06
    price $150,000
21. 2007-12-11
    soldstatus

ⓘ 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: $635 · $53/mo
• Projected year-2 tax: $635 · $53/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: $19,885
• − Mortgage interest: −$6,442
• − Property taxes: −$635
• − Insurance: −$575
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$3,345
• Taxable income: $5,706
• Est. tax owed @ 24.0%: −$1,369
• After-tax cash flow: $5,893/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: Vernon Parish
• NCES district ID: 2201830
• Math proficiency: 35% ▼ -42.00%
• Reading proficiency: 51% ▼ -32.00%
• Median HH income: $44,822
• Composite: 36.42/100
• National rank: #4674
• State rank: #18 of 98 in LA

Livability — Leesville

• Score: 73/100
• State rank: #30
• US rank: #5046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesville, LA
• County: Vernon Parish · 21,275 people
• City population: 21,275
• Metro: Fort Polk South, LA
• Population (ZIP): 21,275
• Household income: $55,925
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 659.0

Population outlook (Vernon County) Hauer SSP2

• Today (2025): 45,401 people
• By 2030: 43,015 · -5.3%
• By 2040: 38,171 · -15.9%
• By 2050: 34,087 · -24.9%
• By 2075: 28,267 · -37.7%
• By 2100: 25,486 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 6% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 3% · Canada, South Korea, Vietnam
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1%

Political lean MEDSL · Vernon

• 2024 margin: Solid R (+67.9) · D 15.6% · R 83.4% · Other 1.0%
• 2008→2024 swing: -14.5pp toward R · 2008: -53.4pp · 2024: -67.9pp
• All cycles: 2024: R+67.9 2020: R+64.9 2016: R+65.0 2012: R+57.5 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.06%
• Current HPI: 128.8849
• Rent YoY: ▲ 9.60%
• Metro: Fort Polk South, 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

5 events — show timeline

• 2026-05-27 Listed $115,000 GFPAR
• 2025-12-04 Price Changed $120,000 GFPAR
• 2025-11-10 Price Changed $129,000 GFPAR
• 2025-10-06 Price Changed $150,000 GFPAR
• 2007-12-11 Sold (Public Records) — Public Records

Property tax history

+0.9%/yr

Latest (2025): $635 · -0.8% YoY. Source: county tax records.