4964 Frey St · Baton Rouge, LA 70805

$47,500

2 bd · 1.0 ba · 900 sqft · SingleFamily · 105 Days on market

Built 1950 10,454 sqft lot $53/sqft · 50% below area Est $95k · 50% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey rental now available, currently rented at $750/month through 4/2026. The quaint cottage has 2 bedrooms and 1 full bathroom. The corner lot offers plenty of grass, a separate storage room, and an attached carport. The metal roof was put on in 2021. Don't wait to inquire about this great investment!

Key facts

• Metal roof
• Attached carport
• Corner lot

Tags

• CORNER LOT
• SEPARATE STORAGE ROOM
• ATTACHED CARPORT
• METAL ROOF

🏷️ Possibly a rental listed for sale. The $47,500 price doesn't fit this home's estimated sale value (~$94,629) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $48k).
• Recommended offer: $43k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 4.3% in Baton Rouge — 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 74/100 on livability (#24 in LA, #4,535 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: amenities D, crime F, employment D-.
• East Baton Rouge Parish (urban): math 22% / reading 34% proficiency, ranked #47 of 98 in LA (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.2%/yr); 155 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• This rent runs 43% of the median local income ($25k/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 $328 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $43,225 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.89% ✓
• Cap rate: 16.55%
• Cash-on-cash: 36.63%
• DSCR: 2.63
• GRM: 4.4

CMA / ARV

• ARV (median comp): $94,629
• List price: $47,500
• Delta: -49.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5122 Bradley St	0.19mi	2/1.0	900 (0%)	17mo	$49,900	$55	77
3122 N Foster Dr	0.14mi	2/2.0	907 (+1%)	15mo	$125,000	$138	76
5131 Fairfields Ave	0.54mi	2/1.0	900 (0%)	2mo	$44,000	$49	73
2975 Blackwell Dr	0.36mi	2/1.0	900 (0%)	20mo	$95,000	$106	66
4014 Dalton St	0.52mi	2/1.0	890 (-1%)	10mo	$27,200	$31	66
3780 Conrad Dr	0.59mi	2/1.0	928 (+3%)	3mo	$16,000	$17	65
3350 Conrad Dr	0.30mi	2/1.0	1,018 (+13%)	10mo	$90,000	$88	56
5617 Fairfields Ave	0.68mi	3/1.0 (+1)	880 (-2%)	8mo	$49,900	$57	53
3969 Chippewa St	0.56mi	2/1.0	964 (+7%)	11mo	$35,000	$36	53
5080 Jackson St	0.62mi	2/1.0	823 (-9%)	14mo	$49,900	$61	45
4852 Adams Ave	0.44mi	2/1.0	1,034 (+15%)	16mo	$39,000	$38	41
3911 Dalton St	0.62mi	3/1.0 (+1)	1,033 (+15%)	2mo	$29,000	$28	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.17×
• Total profit: $15,522
• Equity at exit: $7,082

10-year hold

• IRR: 34.7%
• Equity multiple: 3.75×
• Total profit: $36,619
• Equity at exit: $4,107

Cash invested: $13,300 (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 70805

• Rents YoY: -1.2%
• Active inventory: 155
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $900 high
• Mortgage (P&I): −$249
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $406

Break-even live

Break-even rent $386

Max offer price $47,500

Occupancy floor 50%

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3540 N Foster Dr Baton Rouge, LA	2.0	1.0	1000	$1,000	$1.00	23d	1	0.36mi
3258 Blackwell Dr Baton Rouge, LA	1.0	1.0	562	$750	$1.33	23d	1	0.43mi
3577 Mission Dr Baton Rouge, LA	2.0	1.0	755	$950	$1.26	19d	1	0.46mi
3647 Mission Dr Baton Rouge, LA	3.0	1.0	900	$895	$0.99	23d	1	0.50mi
3936 Dalton St Baton Rouge, LA	2.0	1.0	900	$750	$0.83	19d	1	0.59mi
3859 Brady St Baton Rouge, LA	2.0	1.0	800	$775	$0.97	44d	1	0.63mi
4380 Mohican-Prescott Crossover Baton Rouge, LA	2.0	2.0	910	$1,055	$1.16	44d	1	0.77mi
3942 W Brookstown Dr Baton Rouge, LA	1.0	1.0	650	$675	$1.04	44d	3	0.87mi
5617 Prescott Rd Baton Rouge, LA	1.0–2.0	1.0	687	$900	$1.31	23d	26	0.96mi
4189 W Brookstown Dr Baton Rouge, LA	1.0–2.0	1.0	695	$825	$1.19	14d	20	0.98mi
5350 Clayton Dr Baton Rouge, LA	3.0	1.0	1050	$850	$0.81	44d	1	1.08mi
3160 Wyandotte St Baton Rouge, LA	2.0	1.0	1100	$800	$0.73	44d	1	1.10mi
1201 N Foster Dr Baton Rouge, LA	1.0–3.0	1.0–3.0	1300	$1,240	$0.95	14d	31	1.15mi
1217 N 44th St Baton Rouge, LA	3.0	2.0	1028	$950	$0.92	23d	1	1.16mi
2121 Lobdell Blvd Unit H54 Baton Rouge, LA	3.0	2.0	950	$1,194	$1.26	14d	1	1.18mi
1348 N 37th St Baton Rouge, LA	3.0	1.0	1100	$1,200	$1.09	44d	1	1.25mi
1251 N Ardenwood Dr Baton Rouge, LA	1.0–3.0	1.0–2.0	923	$899	$0.97	44d	1	1.30mi
1409 N 35th St Baton Rouge, LA	3.0	2.0	912	$750	$0.82	23d	1	1.31mi
3225 Victoria Dr Baton Rouge, LA	1.0–3.0	1.0–3.0	1062	$1,019	$0.96	14d	18	1.34mi
787 N 47th St Baton Rouge, LA	3.0	2.0	1000	$800	$0.80	23d	1	1.41mi
2933 Dayton St Unit A Baton Rouge, LA	1.0	1.0	800	$540	$0.68	14d	1	1.44mi
2852 Dayton St Baton Rouge, LA	2.0	1.0	1020	$850	$0.83	23d	1	1.46mi
2136 Lobdell Blvd Baton Rouge, LA	1.0–2.0	1.0–2.0	860	$1,066	$1.24	14d	24	1.47mi
2606 Weller Ave Baton Rouge, LA	2.0	1.0	1000	$650	$0.65	44d	1	1.48mi
1404 N 29th St Baton Rouge, LA	3.0	2.0	1120	$1,100	$0.98	44d	1	1.48mi
1305 N 30th St Baton Rouge, LA	2.0	1.0	1000	$900	$0.90	23d	1	1.50mi

Listing history 18 events

1. 2026-06-18
   days on market $47,500 Active 105 DOM
2. 2026-06-17
   days on market $47,500 Active 104 DOM
3. 2026-06-16
   days on market $47,500 Active 103 DOM
4. 2026-06-15
   days on market $47,500 Active 102 DOM
5. 2026-06-14
   days on market $47,500 Active 100 DOM
6. 2026-06-10
   days on market $47,500 Active 97 DOM
7. 2026-06-09
   days on market $47,500 Active 96 DOM
8. 2026-06-08
   days on market $47,500 Active 95 DOM
9. 2026-06-07
   days on market $47,500 Active 94 DOM
10. 2026-06-05
    days on market $47,500 Active 91 DOM
11. 2026-06-03
    days on market $47,500 Active 90 DOM
12. 2026-06-02
    days on market $47,500 Active 89 DOM
13. 2026-06-01
    days on market $47,500 Active 88 DOM
14. 2026-05-31
    days on market $47,500 Active 87 DOM
15. 2026-05-31
    days on market $47,500 Active 86 DOM
16. 2026-03-05
    listed $54,500 Active 306-char remark

    Show marketing remark (306 chars)

    Turnkey rental now available, currently rented at $750/month through 4/2026. The quaint cottage has 2 bedrooms and 1 full bathroom. The corner lot offers plenty of grass, a separate storage room, and an attached carport. The metal roof was put on in 2021. Don't wait to inquire about this great investment!

17. 2026-03-05
    listed $54,500 Active 306-char remark

    Show marketing remark (306 chars)

    Turnkey rental now available, currently rented at $750/month through 4/2026. The quaint cottage has 2 bedrooms and 1 full bathroom. The corner lot offers plenty of grass, a separate storage room, and an attached carport. The metal roof was put on in 2021. Don't wait to inquire about this great investment!

18. 1983-08-02
    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: $429 · $36/mo
• Projected year-2 tax: $429 · $36/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,794
• − Mortgage interest: −$2,661
• − Property taxes: −$429
• − Insurance: −$238
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$1,382
• Taxable income: $4,358
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $3,826/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: East Baton Rouge Parish
• NCES district ID: 2200540
• Math proficiency: 22% ▼ -36.00%
• Reading proficiency: 34% ▼ -31.00%
• Median HH income: $46,263
• Composite: 24.14/100
• National rank: #7745
• State rank: #47 of 98 in LA

Livability — Baton Rouge

• Score: 74/100
• State rank: #24
• US rank: #4535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baton Rouge, LA
• County: East Baton Rouge Parish · 399,686 people
• City population: 351,868
• Metro: Baton Rouge, LA
• Population (ZIP): 23,288
• Household income: $25,397
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 1980.0

Population outlook (East Baton Rouge County) Hauer SSP2

• Today (2025): 464,810 people
• By 2030: 472,137 · +1.6%
• By 2040: 480,243 · +3.3%
• By 2050: 484,422 · +4.2%
• By 2075: 492,069 · +5.9%
• By 2100: 476,347 · +2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (95%)
• Race & ethnicity: Black 95% Hispanic / Latino 2% White 2% Two or more races 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · East Baton Rouge

• 2024 margin: D (+11.1) · D 54.5% · R 43.4% · Other 2.1%
• 2008→2024 swing: +8.9pp toward D · 2008: 2.2pp · 2024: 11.1pp
• All cycles: 2024: D+11.1 2020: D+13.1 2016: D+9.2 2012: D+5.2 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.79%
• Current HPI: 75.7121
• Rent YoY: ▼ -1.21%
• Metro: Baton Rouge, 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

+0.0% since first listed

3 events — show timeline

• 2026-03-05 Listed $54,500 AcadianaMLS
• 2026-03-05 Listed $54,500 GBRMLS
• 1983-08-02 Sold (Public Records) — Public Records

Property tax history

-0.2%/yr

Latest (2025): $429 · +4.7% YoY. Source: county tax records.