603 Nichols Pl · West Monroe, LA 71291

$203,500

3 bd · 2.0 ba · 1,350 sqft · SingleFamily public records · 224 Days on market

Built 2023 $8/mo HOA

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Why this score? — see what drove the D- 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 +11.1/30.0
• ARV discount +7.5/15.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• DSCR +3.2/10.0
• Schools +3.2/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW CONSTRUCTION UNDER $205K!!!! In a newly developed subdivision. This beautiful 3 bedroom, 2 bathroom Magnolia Style Farmhouse comes with an open floor concept with granite countertops throughout. The kitchen is completely equipped with a side by side refrigerator, electric range, microwave, dishwasher and a walk~in pantry. The bonus about Nichols Place Subdivision. .. .you are walking distance to the beauty of Kiroli Park – relax and experience nature's quality of life in this beautiful park~ including several playgrounds, tennis courts, a dog park, conservatory and so much more. Do not miss you opportunity to own this spectacular home!! * * Lease option now available, $1650 \ mo

Key facts

• Built 2023
• Listed 224 days

🏗️ New construction. The $203,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $211,950.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (20.7% below list).
• Recommended offer: $161k (20.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#53 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, commute F, employment F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kiroli Elementary School (math 41% / reading 64%, grade C-, #105 of 646 statewide, top 16%, 509 students, 50% FRL); Good Hope Middle School (math 35% / reading 53%, grade D, #51 of 218 statewide, top 24%, 602 students, 53% FRL); West Monroe High School (math 32% / reading 48%, grade F, #77 of 265 statewide, top 29%, 2,189 students, 58% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 201 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 224 days — a 12% lower offer ($179k) is reasonable based on typical stale-listing flexibility.

Recommended offer $161,423 (20.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.69%
• DSCR: 0.92
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $211,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 Nichols Pl	0.05mi	3/2.0	1,360 (+1%)	10mo	$215,000	$158	88
602 Nichols Pl	0.03mi	3/2.0	1,280 (-5%)	3mo	$212,500	$166	87
101 Nichols Dr	0.25mi	3/1.5	1,377 (+2%)	14mo	$170,000	$123	71
702 Kiroli Rd	0.40mi	3/2.0	1,295 (-4%)	14mo	$218,000	$168	63
1516 Cedar St	0.57mi	2/1.0 (-1)	1,381 (+2%)	1mo	$168,370	$122	60
106 Mauldin Dr	0.68mi	3/2.0	1,424 (+6%)	1mo	$238,000	$167	58
1010 Audubon Ave	0.62mi	3/1.5	1,266 (-6%)	2mo	$188,000	$148	57
147 Northwood Cir	0.45mi	3/2.0	1,485 (+10%)	12mo	$226,500	$153	52
1421 Elizabeth St	0.55mi	3/1.0	1,410 (+4%)	13mo	$170,000	$121	52
128 Tuscany Cir	0.58mi	2/2.0 (-1)	1,288 (-5%)	10mo	$202,000	$157	52
120 Orleans Pl	0.70mi	3/2.0	1,296 (-4%)	13mo	$213,000	$164	50
130 Tuscany Cir	0.59mi	2/2.0 (-1)	1,469 (+9%)	14mo	$222,000	$151	41

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: -14.1%
• Equity multiple: 0.47×
• Total profit: $-31,184
• Equity at exit: $31,602

10-year hold

• IRR: 0.9%
• Equity multiple: 1.08×
• Total profit: $4,646
• Equity at exit: $18,326

Cash invested: $59,346 (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 71291

• Home prices YoY: -30.2%
• Rents YoY: 8.9%
• Active inventory: 201
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,614 medium
• Mortgage (P&I): −$1,111
• Tax from tax record: −$151 /mo · $1,813/yr
• Insurance: −$88
• HOA: −$8
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-84

Break-even live

Break-even rent $1,720

Max offer price $197,170

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-24	+0% $-84	+5% $-144	+10% $-204
Rent	-10% $-211	-5% $-147	+0% $-84	+5% $-20	+10% $44
Rate	-1.0pp $23	-0.5pp $-30	base $-84	+0.5pp $-139	+1.0pp $-194

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: $52,988
• Closing costs: $6,358
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Fairlane Dr Unit 8 West Monroe, LA	2.0	2.0	1050	$1,600	$1.52	23d	1	0.90mi
1114 Otis St West Monroe, LA	3.0	2.0	1304	$1,595	$1.22	46d	1	0.90mi
2417 N 9th St West Monroe, LA	2.0	1.0	900	$2,000	$2.22	46d	1	1.06mi
202 Gross St West Monroe, LA	3.0	1.0	1100	$1,350	$1.23	46d	1	1.18mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: electriclandscaping

Listing history 3 events

1. 2024-02-19
   status Pending
2. 2023-11-08
   price $203,500
3. 2023-07-10
   listed $204,000 Active

ⓘ 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: $1,813 · $151/mo
• Projected year-2 tax: $1,813 · $151/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: $19,371
• − Mortgage interest: −$11,872
• − Property taxes: −$1,813
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − HOA: −$96
• − Depreciation: −$6,166
• Taxable loss: −$4,736
• Est. tax savings @ 24.0%: +$1,137
• After-tax cash flow: $133/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: Ouachita Parish
• NCES district ID: 2201200
• Math proficiency: 31% ▼ -38.00%
• Reading proficiency: 45% ▼ -31.00%
• Median HH income: $43,316
• Composite: 32.14/100
• National rank: #5791
• State rank: #26 of 98 in LA

Livability — West Monroe

• Score: 70/100
• State rank: #53
• US rank: #7498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ouachita Parish · 118,340 people
• City population: 58,204
• Metro: Monroe, LA
• Population (ZIP): 35,269
• Household income: $71,639
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 847.0

Population outlook (Ouachita County) Hauer SSP2

• Today (2025): 163,370 people
• By 2030: 165,520 · +1.3%
• By 2040: 167,652 · +2.6%
• By 2050: 166,699 · +2.0%
• By 2075: 156,348 · -4.3%
• By 2100: 134,102 · -17.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Ouachita

• 2024 margin: Strong R (+27.9) · D 35.5% · R 63.3% · Other 1.2%
• 2008→2024 swing: -2.7pp toward R · 2008: -25.2pp · 2024: -27.9pp
• All cycles: 2024: R+27.9 2020: R+23.6 2016: R+25.4 2012: R+20.9 2008: R+25.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.15%
• Current HPI: 220.1737
• Rent YoY: ▲ 8.93%
• Metro: Monroe, 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

-0.2% since first listed

3 events — show timeline

• 2024-02-19 Pending — NELABOR
• 2023-11-08 Price Changed $203,500 NELABOR
• 2023-07-10 Listed $204,000 NELABOR

Property tax history

+138.8%/yr

Latest (2025): $1,813 · -1.2% YoY. Source: county tax records.