2024 Gemini Dr · Bastrop, LA 71220

$144,900

3 bd · 2.0 ba · 2,113 sqft · SingleFamily public records · 331 Days on market

Built 1970 0.33 ac lot $69/sqft · 33% below area Est $210k · 31% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Appreciation +3.9/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

Key facts

• Semi-open floor plan
• Ample cabinet space
• Separate family room

Tags

• TRADITIONAL BRICK HOME
• SEMI-OPEN FLOOR PLAN
• SPACIOUS LIVING ROOM
• SEPARATE FAMILY ROOM
• GENEROUS LAUNDRY ROOM
• AMPLE CABINET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $23 ($276/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (15.0% below list).
• Recommended offer: $123k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 50/100 on livability (#425 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D, health & safety D, crime F.
• Morehouse Parish (town): math 10% / reading 19% proficiency, ranked #83 of 98 in LA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP; 11 units permitted in Morehouse Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Morehouse County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 331 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,236 (15.0% below list)

Questions for the listing agent

1. It's been on market 331 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (median comp): $210,092
• List price: $144,900
• Delta: -31.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 Neptune Dr	0.38mi	3/2.5	2,327 (+10%)	22mo	$247,000	$106	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.59×
• Total profit: $-16,529
• Equity at exit: $27,454

10-year hold

• IRR: -2.4%
• Equity multiple: 0.81×
• Total profit: $-7,680
• Equity at exit: $22,809

Cash invested: $40,572 (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 71220

• Home prices YoY: -1.2%
• Active inventory: 92
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $23

Break-even live

Break-even rent $1,203

Max offer price $144,900

Occupancy floor 93%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-13
   status Pending 916-char remark

   Show marketing remark (916 chars)

   Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

2. 2025-11-10
   price $144,900 916-char remark

   Show marketing remark (916 chars)

   Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

3. 2025-09-04
   price $150,000 916-char remark

   Show marketing remark (916 chars)

   Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

4. 2025-08-01
   price $157,800 916-char remark

   Show marketing remark (916 chars)

   Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

5. 2025-07-08
   price $160,000 916-char remark

   Show marketing remark (916 chars)

   Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

6. 2025-06-16
   listed $169,900 Active 916-char remark

   Show marketing remark (916 chars)

   Discover comfort and space in this well-maintained traditional brick home nestled in the desirable Space Estates Subdivision. Featuring approximately 2,056 heated square feet, this 3-bedroom, 2-bathroom residence offers a semi-open floor plan ideal for everyday living and entertaining. Inside, you'll find a spacious living room and a separate family room, providing flexible living areas to fit your lifestyle. The generous laundry room, ample cabinet space, and multiple closets throughout the home offer plenty of storage. The kitchen opens into the living areas, promoting a welcoming flow throughout the space. Step outside to enjoy the screened-in patio, perfect for relaxing or hosting guests. The property also includes an outdoor storage building and sits on . 33 acres, providing just the right amount of yard space without overwhelming upkeep. Don't miss the opportunity to make this charming home yours!

7. 2014-06-23
   soldstatus $120,000

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $1,564 · $130/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,788
• − Mortgage interest: −$8,117
• − Property taxes: −$1,564
• − Insurance: −$724
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$4,215
• Taxable loss: −$2,198
• Est. tax savings @ 24.0%: +$527
• After-tax cash flow: $804/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: Morehouse Parish
• NCES district ID: 2201110
• Math proficiency: 10% ▼ -29.00%
• Reading proficiency: 19% ▼ -29.00%
• Median HH income: $30,482
• Composite: 11.46/100
• National rank: #9704
• State rank: #83 of 98 in LA

Livability — Bastrop

• Score: 50/100
• State rank: #425
• US rank: #25547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bastrop, LA
• Population (ZIP): 20,426

Population outlook (Morehouse County) Hauer SSP2

• Today (2025): 23,631 people
• By 2030: 22,114 · -6.4%
• By 2040: 19,203 · -18.7%
• By 2050: 16,698 · -29.3%
• By 2075: 11,998 · -49.2%
• By 2100: 8,622 · -63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (51%)
• Race & ethnicity: Black 51% White 44% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2%
• Foreign-born: 1% · China

Political lean MEDSL · Morehouse

• 2024 margin: R (+19.4) · D 39.7% · R 59.0% · Other 1.3%
• 2008→2024 swing: -8.3pp toward R · 2008: -11.1pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+13.5 2016: R+11.4 2012: R+5.6 2008: R+11.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.10%
• Current HPI: 171.3272
• Rent YoY: —
• Metro: —
• 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

+20.8% since first listed

7 events — show timeline

• 2026-05-13 Pending — NELABOR
• 2025-11-10 Price Changed $144,900 NELABOR
• 2025-09-04 Price Changed $150,000 NELABOR
• 2025-08-01 Price Changed $157,800 NELABOR
• 2025-07-08 Price Changed $160,000 NELABOR
• 2025-06-16 Listed $169,900 NELABOR
• 2014-06-23 Sold (Public Records) $120,000 Public Records

Property tax history

+10.0%/yr

Latest (2024): $1,564 · -2.9% YoY. Source: county tax records.