615 Montgomery St

Bossier City, LA 71111

$23,900C-

1 bd · 1.0 ba · 516 sqft · Built 1932 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,061/mo
• Mortgage (P&I): −$125
• Tax + insurance: −$40
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $673/mo
• Annual: $8,076/yr
• Cap rate: 40.08%
• Cash-on-cash: 120.68%
• DSCR: 6.37
• 1% rule: 4.44%
• Cash to close: $6,692

Investor read

• This is a 1-bed/1.0-bath single-family listed at $24k. Condition is rated fair.
• At list price, monthly cash flow is $673 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• It's been on market 157 days — a 12% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $21k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $165 of loan paydown is wiped out by about $717 of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#47 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Bossier Parish (urban): math 40% / reading 47% proficiency, ranked #17 of 98 in LA (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bossier Elementary School (math 8% / reading 17%, grade F, #550 of 646 statewide, top 88%, 222 students, 93% FRL); Greenacres Middle School (math 24% / reading 33%, grade F, #119 of 218 statewide, top 57%, 611 students, 75% FRL); Airline High School (math 49% / reading 56%, grade C-, #30 of 265 statewide, top 12%, 2,021 students, 56% FRL) — zoned schools average 75% FRL vs 41% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 44% district-wide (-12 pts) — the specific schools serving this property underperform the Bossier Parish average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.6%/yr); 661 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 716 units permitted in Bossier Parish in 2024 (0 in 5+ unit buildings).
• Bossier County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 40.1% vs local median 5.1% in Bossier City — 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.

Questions for listing agent

• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen countertops — The countertops are visibly worn and need replacement.
• Major: Bathroom fixtures — The fixtures are outdated and need to be replaced.
• Moderate: Exterior siding — The siding shows signs of wear and tear, indicating a need for repair or replacement.
• Major: Flooring — The flooring in the kitchen and bathrooms is in poor condition and needs replacement.