507 & 509 S 23rd St Unit A-G · Monroe, LA 71201

$99,000

None bd · None ba · — sqft · Condo · 70 Days on market

Built 1952 Poor condition

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss your opportunity to own this investment property at an incredible price point! 9 units for under 100k! With a little TLC, these units could be occupied and producing income in no time! Schedule your showing today!

Key facts

• Built 1952
• Listed 69 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family)
• Construction: Vinyl siding; Asphalt roof
• Exterior features: No patio or porch; Paved road access

Interior

• Basement: Crawl space
• Heating & cooling: Has heating (type: Other); No cooling
• Interior features: Other interior features
• Laundry & utility: No laundry hookups inside

What this means for you Summary

Snapshot

• This is a condo listed at $99k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $47 ($560/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 $93k (6.6% below list).
• Recommended offer: $93k (6.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#128 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• City Of Monroe School District (urban): math 21% / reading 31% proficiency, ranked #60 of 98 in LA (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $92,515 (6.6% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-13,054
• Equity at exit: $14,761

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-7,480
• Equity at exit: $8,560

Cash invested: $27,720 (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 71201

• Home prices YoY: -31.9%
• Active inventory: 142
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $925 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $47

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 90%

Sensitivity live

Price	-10% $115	-5% $81	+0% $47	+5% $12	+10% $-22
Rent	-10% $-26	-5% $10	+0% $47	+5% $83	+10% $120
Rate	-1.0pp $97	-0.5pp $72	base $47	+0.5pp $21	+1.0pp $-5

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 S 23rd St Unit C Monroe, LA	2.0	1.0	—	$500	—	22d	1	0.34mi
320 Bell Ave Monroe, LA	3.0	2.0	1800	$985	$0.55	22d	1	1.10mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $99,000 Active 70 DOM
2. 2026-06-18
   days on market $99,000 Active 69 DOM
3. 2026-06-17
   days on market $99,000 Active 68 DOM
4. 2026-06-16
   days on market $99,000 Active 67 DOM
5. 2026-06-15
   days on market $99,000 Active 66 DOM
6. 2026-06-14
   days on market $99,000 Active 64 DOM
7. 2026-06-13
   days on market $99,000 Active 63 DOM
8. 2026-06-10
   days on market $99,000 Active 61 DOM
9. 2026-06-09
   days on market $99,000 Active 60 DOM
10. 2026-06-08
    days on market $99,000 Active 59 DOM
11. 2026-06-07
    days on market $99,000 Active 58 DOM
12. 2026-06-05
    days on market $99,000 Active 55 DOM
13. 2026-06-02
    days on market $99,000 Active 53 DOM
14. 2026-06-01
    days on market $99,000 Active 52 DOM
15. 2026-05-31
    days on market $99,000 Active 51 DOM
16. 2026-05-30
    days on market $99,000 Active 50 DOM
17. 2026-04-10
    listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $11,102
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$2,880
• Taxable loss: −$1,080
• Est. tax savings @ 24.0%: +$259
• After-tax cash flow: $820/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.

Condition & rehab AI · 4 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and maintenance to improve its condition and curb appeal. Addressing these issues will significantly increase its resale and rental value.

Repairs flagged

• Major landscaping — Overgrown vegetation needs trimming and landscaping to improve curb appeal.
• Major exterior maintenance — The property needs exterior maintenance to address overgrown vegetation and improve curb appeal.
• Major interior maintenance — The property needs interior maintenance to address potential issues with walls, paint, and other interior elements.
• Major HVAC/mechanical maintenance — The property needs HVAC and mechanical maintenance to ensure proper functioning and energy efficiency.
• Major roof inspection — The roof condition is unknown and needs inspection to determine if there are any issues that need addressing.
• Major foundation inspection — The foundation condition is unknown and needs inspection to determine if there are any issues that need addressing.
• Major exterior siding inspection — The exterior siding condition is unknown and needs inspection to determine if there are any issues that need addressing.
• Major window inspection — The window condition is unknown and needs inspection to determine if there are any issues that need addressing.
• Major landscaping — The property needs landscaping to improve curb appeal and maintain a well-maintained appearance.

Value-add opportunities

• Both landscaping and curb appeal improvements — Improving the landscaping and curb appeal will enhance the property's visual appeal and attract potential buyers or tenants.
• Both exterior and interior maintenance — Addressing exterior and interior maintenance issues will improve the property's overall condition and make it more attractive to potential buyers or tenants.
• Both HVAC and mechanical upgrades — Upgrading the HVAC and mechanical systems will improve energy efficiency and comfort for potential buyers or tenants.
• Both roof and foundation inspections — Inspecting the roof and foundation will ensure the property's structural integrity and address any potential issues that could affect its value.
• Both exterior siding and window inspections — Inspecting the exterior siding and windows will ensure the property's exterior condition and address any potential issues that could affect its value.
• Both exterior and interior maintenance — Addressing exterior and interior maintenance issues will improve the property's overall condition and make it more attractive to potential buyers or tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
landscaping · Overgrown vegetation needs trimming and landscaping to improve curb appeal.	Major	$15,000–50,000
exterior maintenance · The property needs exterior maintenance to address overgrown vegetation and improve curb appeal.	Major	$15,000–50,000
interior maintenance · The property needs interior maintenance to address potential issues with walls, paint, and other interior elements.	Major	$15,000–50,000
HVAC/mechanical maintenance · The property needs HVAC and mechanical maintenance to ensure proper functioning and energy efficiency.	Major	$15,000–50,000
roof inspection · The roof condition is unknown and needs inspection to determine if there are any issues that need addressing.	Major	$15,000–50,000
foundation inspection · The foundation condition is unknown and needs inspection to determine if there are any issues that need addressing.	Major	$15,000–50,000
exterior siding inspection · The exterior siding condition is unknown and needs inspection to determine if there are any issues that need addressing.	Major	$15,000–50,000
window inspection · The window condition is unknown and needs inspection to determine if there are any issues that need addressing.	Major	$15,000–50,000
landscaping · The property needs landscaping to improve curb appeal and maintain a well-maintained appearance.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both landscaping and curb appeal improvements — Improving the landscaping and curb appeal will enhance the property's visual appeal and attract potential buyers or tenants. ↑
• Both exterior and interior maintenance — Addressing exterior and interior maintenance issues will improve the property's overall condition and make it more attractive to potential buyers or tenants. ↑
• Both HVAC and mechanical upgrades — Upgrading the HVAC and mechanical systems will improve energy efficiency and comfort for potential buyers or tenants. ↑
• Both roof and foundation inspections — Inspecting the roof and foundation will ensure the property's structural integrity and address any potential issues that could affect its value. ↑
• Both exterior siding and window inspections — Inspecting the exterior siding and windows will ensure the property's exterior condition and address any potential issues that could affect its value. ↑
• Both exterior and interior maintenance — Addressing exterior and interior maintenance issues will improve the property's overall condition and make it more attractive to potential buyers or tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: City Of Monroe School District
• NCES district ID: 2201080
• Math proficiency: 21% ▼ -36.00%
• Reading proficiency: 31% ▼ -34.00%
• Median HH income: $28,751
• Composite: 20.82/100
• National rank: #8505
• State rank: #60 of 98 in LA

Livability — Monroe

• Score: 66/100
• State rank: #128
• US rank: #11948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, LA
• County: Ouachita Parish · 118,340 people
• City population: 60,136
• Metro: Monroe, LA
• Population (ZIP): 21,782
• Household income: $65,446
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 1466.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 57% Black 35% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 1%
• Foreign-born: 3% · Vietnam
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Arabic 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: ▼ -92.35%
• Current HPI: 196.7468
• Rent YoY: —
• 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

1 event — show timeline

• 2026-04-10 Listed $99,000 NELABOR