118 W Cypress St · Bastrop, LA 71220

$200,000

None bd · None ba · 7,654 sqft · Townhouse public records · 47 Days on market

Built 1920

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Why this score? — see what drove the F 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 +7.5/15.0
• Appreciation +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

8 Unit Apartment Complex currently 100% Occupied and generating income. This is investors dream, units rent from $450 to $550 each. Do not disturb tenants.

Key facts

• Listed 46 days

Property features AI

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer; Natural gas not available
• Home design: Residential income property; Apartment building
• Construction: Brick veneer construction
• Exterior features: Flat roof; No patio or porch listed; Paved road access

Interior

• Kitchen: Electric water heater
• Heating & cooling: Electric heating; Multi-unit cooling (central or shared systems); Has cooling
• Interior features: Other interior features; No fireplace
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

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 $4k 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 47 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $120k; list at $200k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,000 (3.0% 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 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.00% ✗
• Cap rate: -1.37%
• Cash-on-cash: -27.38%
• DSCR: -0.22
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -58.2%
• Equity multiple: -0.90×
• Total profit: $-106,256
• Equity at exit: $37,893

10-year hold

• IRR: -73.4%
• Equity multiple: -2.41×
• Total profit: $-190,834
• Equity at exit: $31,483

Cash invested: $56,000 (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

Monthly cashflow live

• Estimated rent: $0 none
• Mortgage (P&I): −$1,049
• Tax from tax record: −$145 /mo · $1,745/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$0
• Net cashflow: $-1,278

Break-even live

Break-even rent $1,617

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,164	-5% $-1,221	+0% $-1,278	+5% $-1,334	+10% $-1,391
Rent	-10% $-1,278	-5% $-1,278	+0% $-1,278	+5% $-1,278	+10% $-1,278
Rate	-1.0pp $-1,177	-0.5pp $-1,227	base $-1,278	+0.5pp $-1,329	+1.0pp $-1,382

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-21
   days on market $200,000 Active 47 DOM
2. 2026-06-19
   days on market $200,000 Active 45 DOM
3. 2026-06-18
   days on market $200,000 Active 44 DOM
4. 2026-06-17
   days on market $200,000 Active 43 DOM
5. 2026-06-16
   days on market $200,000 Active 42 DOM
6. 2026-06-15
   days on market $200,000 Active 41 DOM
7. 2026-06-14
   days on market $200,000 Active 39 DOM
8. 2026-06-13
   days on market $200,000 Active 38 DOM
9. 2026-06-10
   days on market $200,000 Active 36 DOM
10. 2026-06-09
    days on market $200,000 Active 35 DOM
11. 2026-06-08
    days on market $200,000 Active 34 DOM
12. 2026-06-07
    days on market $200,000 Active 33 DOM
13. 2026-06-05
    days on market $200,000 Active 30 DOM
14. 2026-06-03
    days on market $200,000 Active 29 DOM
15. 2026-06-02
    days on market $200,000 Active 28 DOM
16. 2026-06-01
    days on market $200,000 Active 27 DOM
17. 2026-05-31
    days on market $200,000 Active 26 DOM
18. 2026-05-30
    days on market $200,000 Active 25 DOM
19. 2026-05-05
    listed $200,000 Active 155-char remark
20. 2024-09-28
    historical $550
21. 2024-09-12
    listed $550
22. 2024-09-12
    historical $550
23. 2024-08-26
    listed $550
24. 2024-06-27
    soldstatus $120,267
25. 2024-06-26
    soldstatus
26. 2024-04-22
    listed $120,267
27. 2023-03-14
    price $194,999
28. 2023-02-14
    status Active
29. 2022-12-22
    historical
30. 2022-12-13
    price $179,900
31. 2022-10-25
    status Active
32. 2022-10-24
    status Pending
33. 2022-10-12
    price $160,000
34. 2022-10-05
    price $165,000
35. 2022-09-23
    status Active
36. 2022-09-23
    price $170,000
37. 2022-07-14
    status Active
38. 2022-06-24
    status Pending
39. 2022-06-21
    listed $179,900 Active
40. 2021-11-12
    soldstatus $138,000
41. 2021-11-11
    soldstatus
42. 2021-11-11
    listed $138,000
43. 2010-11-03
    soldstatus $136,000

ⓘ 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: $1,745 · $145/mo
• Projected year-2 tax: $1,745 · $145/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 · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $0
• − Mortgage interest: −$11,203
• − Property taxes: −$1,745
• − Insurance: −$1,000
• − Repairs & maintenance: −$0
• − Management: −$0
• − Depreciation: −$5,818
• Taxable loss: −$19,767
• Est. tax savings @ 24.0%: +$4,744
• After-tax cash flow: $-10,587/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

+47.1% since first listed

25 events — show timeline

• 2026-05-05 Listed $200,000 NELABOR
• 2024-09-28 Rental Removed $550 LEASESTAR
• 2024-09-12 Listed for Rent $550 LEASESTAR
• 2024-09-12 Rental Removed $550 LEASESTAR
• 2024-08-26 Listed for Rent $550 LEASESTAR
• 2024-06-27 Sold (Public Records) $120,267 Public Records
• 2024-06-26 Sold (MLS) — NELABOR
• 2024-04-22 Listed $120,267 NELABOR
• 2023-03-14 Price Changed $194,999 NELABOR
• 2023-02-14 Relisted — NELABOR
• 2022-12-22 Delisted — NELABOR
• 2022-12-13 Price Changed $179,900 NELABOR
• 2022-10-25 Relisted — NELABOR
• 2022-10-24 Pending — NELABOR
• 2022-10-12 Price Changed $160,000 NELABOR
• 2022-10-05 Price Changed $165,000 NELABOR
• 2022-09-23 Relisted — NELABOR
• 2022-09-23 Price Changed $170,000 NELABOR
• 2022-07-14 Relisted — NELABOR
• 2022-06-24 Pending — NELABOR
• 2022-06-21 Listed $179,900 NELABOR
• 2021-11-12 Sold (Public Records) $138,000 Public Records
• 2021-11-11 Listed $138,000 NELABOR
• 2021-11-11 Sold (MLS) — NELABOR
• 2010-11-03 Sold (Public Records) $136,000 Public Records

Property tax history

+5.3%/yr

Latest (2024): $1,745 · -2.9% YoY. Source: county tax records.