202 Kelly St · Bossier City, LA 71111

$40,000

3 bd · 1.0 ba · 1,274 sqft · SingleFamily public records · 119 Days on market

Built 1952 5,009 sqft lot $31/sqft · 41% below area Est $68k · 41% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rental income opportunity!! This property is currently vacant but has a potential rental rate of $850 per month. Contact the listing agent via text to inquire further. Bring all offers!!

Key facts

• 5,009 sq ft lot
• Built 1952
• Listed 118 days

🏷️ Possibly a rental listed for sale. The $40,000 price doesn't fit this home's estimated sale value (~$67,594) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $835 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 31.4% vs local median 4.7% 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.

Location & tenants

• 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.
• Market conditions: Rents rising fast (+6.6%/yr); 421 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 716 units permitted in Bossier Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $40k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 63% 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 $36,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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 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?
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. 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.
8. 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.
9. 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: 3.51% ✓
• Cap rate: 31.35%
• Cash-on-cash: 89.51%
• DSCR: 4.98
• GRM: 2.4

CMA / ARV

• ARV (median comp): $67,594
• List price: $40,000
• Delta: -40.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Montgomery St	0.06mi	4/1.0 (+1)	1,172 (-8%)	19mo	$49,900	$43	63
642 Joannes St	0.41mi	3/1.0	1,232 (-3%)	20mo	$90,000	$73	58
329 Berry St	0.22mi	3/1.5	1,154 (-9%)	21mo	$50,000	$43	54
321 Wyche St	0.25mi	2/1.0 (-1)	1,128 (-12%)	16mo	$85,955	$76	50
518 Thompson St	0.28mi	4/2.0 (+1)	1,456 (+14%)	11mo	$102,900	$71	45
423 Adair St	0.34mi	4/1.5 (+1)	1,400 (+10%)	21mo	$39,000	$28	43

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 · 6.56% rent growth · sell at horizon

5-year hold

• IRR: 94.2%
• Equity multiple: 5.64×
• Total profit: $51,961
• Equity at exit: $5,964

10-year hold

• IRR: 97.7%
• Equity multiple: 13.22×
• Total profit: $136,870
• Equity at exit: $3,458

Cash invested: $11,200 (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 71111

• Home prices YoY: -34.8%
• Rents YoY: 6.6%
• Active inventory: 421
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$210
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $835

Break-even live

Break-even rent $348

Max offer price $40,000

Occupancy floor 36%

Sensitivity live

Price	-10% $858	-5% $847	+0% $835	+5% $824	+10% $813
Rent	-10% $724	-5% $780	+0% $835	+5% $891	+10% $946
Rate	-1.0pp $856	-0.5pp $846	base $835	+0.5pp $825	+1.0pp $814

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Edwards St Bossier City, LA	2.0	1.0	900	$1,175	$1.31	21d	1	0.15mi
413 Montgomery St Bossier City, LA	3.0	1.0	1152	$1,000	$0.87	14d	1	0.15mi
1735 Green St Bossier City, LA	4.0	2.0	1488	$1,775	$1.19	44d	1	0.70mi
1225 Delhi St Bossier City, LA	3.0	1.0	1092	$800	$0.73	21d	1	1.11mi
719 Edwards St Shreveport, LA	1.0–2.0	1.0	810	$1,275	$1.57	21d	7	1.17mi
624 Texas St Shreveport, LA	2.0	1.5	953	$2,358	$2.47	14d	2	1.31mi
2400 Broadway Dr Bossier City, LA	3.0	1.0	1295	$1,450	$1.12	14d	1	1.32mi
1005 Clarence St Bossier City, LA	3.0	2.0	1203	$1,300	$1.08	44d	1	1.46mi
1518 Viosca St Bossier City, LA	3.0	2.0	1434	$1,200	$0.84	21d	1	1.47mi

Listing history 28 events

1. 2026-06-17
   days on market $40,000 Active 119 DOM
2. 2026-06-16
   days on market $40,000 Active 118 DOM
3. 2026-06-15
   days on market $40,000 Active 117 DOM
4. 2026-06-14
   days on market $40,000 Active 115 DOM
5. 2026-06-13
   days on market $40,000 Active 114 DOM
6. 2026-06-10
   days on market $40,000 Active 112 DOM
7. 2026-06-09
   days on market $40,000 Active 111 DOM
8. 2026-06-08
   days on market $40,000 Active 110 DOM
9. 2026-06-07
   days on market $40,000 Active 109 DOM
10. 2026-06-02
    days on market $40,000 Active 104 DOM
11. 2026-06-01
    days on market $40,000 Active 103 DOM
12. 2026-05-31
    days on market $40,000 Active 102 DOM
13. 2026-05-30
    days on market $40,000 Active 101 DOM
14. 2026-04-10
    price $40,000 188-char remark

    Show marketing remark (188 chars)

    Rental income opportunity!! This property is currently vacant but has a potential rental rate of $850 per month. Contact the listing agent via text to inquire further. Bring all offers!!

15. 2026-02-18
    listed $49,999 Active 188-char remark

    Show marketing remark (188 chars)

    Rental income opportunity!! This property is currently vacant but has a potential rental rate of $850 per month. Contact the listing agent via text to inquire further. Bring all offers!!

16. 2025-12-31
    historical
17. 2025-06-20
    listed $60,000 Active
18. 2024-05-19
    historical
19. 2024-03-14
    historical
20. 2024-01-18
    listed
21. 2023-12-18
    listed $47,900 Active
22. 2023-08-14
    historical
23. 2023-07-30
    listed
24. 2021-09-29
    historical
25. 2021-09-05
    listed $45,000 Active
26. 2012-09-14
    soldstatus $16,667
27. 2006-09-29
    soldstatus $52,000
28. 2002-11-20
    soldstatus $13,000

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $585 · $49/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 6/10 Major FEMA zone X (unshaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,869
• − Mortgage interest: −$2,241
• − Property taxes: −$585
• − Insurance: −$200
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$1,164
• Taxable income: $9,981
• Est. tax owed @ 24.0%: −$2,395
• After-tax cash flow: $7,629/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: Bossier Parish
• NCES district ID: 2200270
• Math proficiency: 40% ▼ -32.00%
• Reading proficiency: 47% ▼ -28.00%
• Median HH income: $51,326
• Composite: 37.5/100
• National rank: #4402
• State rank: #17 of 98 in LA

Livability — Bossier City

• Score: 71/100
• State rank: #47
• US rank: #7044

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bossier City, LA
• County: Bossier Parish · 98,704 people
• City population: 91,925
• Metro: Shreveport-Bossier City, LA
• Population (ZIP): 43,925
• Household income: $65,292
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1942.0

Population outlook (Bossier County) Hauer SSP2

• Today (2025): 143,247 people
• By 2030: 151,802 · +6.0%
• By 2040: 168,194 · +17.4%
• By 2050: 183,533 · +28.1%
• By 2075: 217,009 · +51.5%
• By 2100: 230,091 · +60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Black 29% Hispanic / Latino 9% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Iranian 1% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 7% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Bossier

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.3%
• 2008→2024 swing: +0.3pp no change · 2008: -43.7pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.0 2016: R+45.8 2012: R+45.4 2008: R+43.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.78%
• Current HPI: 149.4336
• Rent YoY: ▲ 6.56%
• Metro: Shreveport-Bossier City, 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

+207.7% since first listed

15 events — show timeline

• 2026-04-10 Price Changed $40,000 NTREIS
• 2026-02-18 Listed $49,999 NTREIS
• 2025-12-31 Listing Removed — NTREIS
• 2025-06-20 Listed $60,000 NTREIS
• 2024-05-19 Listing Removed — NTREIS
• 2024-03-14 Rental Removed — APPFOLIO
• 2024-01-18 Listed for Rent — APPFOLIO
• 2023-12-18 Listed $47,900 NTREIS
• 2023-08-14 Rental Removed — APPFOLIO
• 2023-07-30 Listed for Rent — APPFOLIO
• 2021-09-29 Listing Removed — NTREIS
• 2021-09-05 Listed $45,000 NTREIS
• 2012-09-14 Sold (Public Records) $16,667 Public Records
• 2006-09-29 Sold (Public Records) $52,000 Public Records
• 2002-11-20 Sold (Public Records) $13,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $585 · -1.3% YoY. Source: county tax records.