607 Kelly St

Bossier City, LA 71111

$24,500D+

2 bd · 1.0 ba · 900 sqft · Built 1980 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,047/mo
• Mortgage (P&I): −$128
• Tax + insurance: −$41
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $658/mo
• Annual: $7,891/yr
• Cap rate: 38.50%
• Cash-on-cash: 115.04%
• DSCR: 6.12
• 1% rule: 4.27%
• Cash to close: $6,860

Investor read

• This is a 2-bed/1.0-bath single-family listed at $24k. Condition is rated fair.
• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• It's been on market 52 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $169 of loan paydown is wiped out by about $735 of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#47 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Bossier Parish (urban): math 40% / reading 47% proficiency, ranked #17 of 98 in LA (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 425 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 716 units permitted in Bossier Parish in 2024 (0 in 5+ unit buildings).
• Bossier County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $6k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 38.5% vs local median 4.7% in Bossier City — 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.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen appliances — Older and worn, need replacement
• Major: Bathroom fixtures — Outdated and small, need replacement
• Major: Exterior paint — Weathered and needs repainting
• Major: Exterior siding — Weathered and needs repair
• Major: Landscaping — Needs trimming and planting