604 Belle Grove Cir · Minorca, LA 71373

$27,500

3 bd · 1.0 ba · 1,180 sqft · SingleFamily · 146 Days on market

Built 1960 0.25 ac lot $23/sqft · 64% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.5/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Looking for your next remodel project? This 3 bed 1.5 bath home in Vidali, LA offers endless potential. Whether you're a first time homebuyer ready to make it your own or an investor looking to expand your real estate portfolio, this property is a fantastic opportunity. This is a Fannie Mae Homepath property.

Key facts

• 0.25 acre lot
• 2 parking spots
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $24k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#221 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• Concordia Parish (town): math 19% / reading 27% proficiency, ranked #65 of 98 in LA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 40 active listings in the ZIP; 27 units permitted in Concordia Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($190 loan paydown + $2k appreciation (7.0% local appreciation)).
• Concordia County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 91% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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 F-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. 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.
7. 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.
8. 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: 4.01% ✓
• Cap rate: 36.19%
• Cash-on-cash: 106.79%
• DSCR: 5.75
• GRM: 2.1

CMA / ARV

• ARV (median comp): $75,447
• List price: $27,500
• Delta: -63.55%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 Belle Grove Cir	0.00mi	3/1.0	1,180 (0%)	0mo	$27,500	$23	100

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

Projected returns pro-forma

6.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.91×
• Total profit: $53,213
• Equity at exit: $19,008

10-year hold

• IRR: —
• Equity multiple: 16.85×
• Total profit: $122,051
• Equity at exit: $36,063

Cash invested: $7,700 (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 71373

• Home prices YoY: 6.3%
• Active inventory: 40
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$144
• Tax from tax record: −$30 /mo · $361/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $685

Break-even live

Break-even rent $235

Max offer price $27,500

Occupancy floor 33%

Sensitivity live

Price	-10% $701	-5% $693	+0% $685	+5% $677	+10% $670
Rent	-10% $598	-5% $642	+0% $685	+5% $729	+10% $772
Rate	-1.0pp $699	-0.5pp $692	base $685	+0.5pp $678	+1.0pp $671

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: $6,875
• Closing costs: $825
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-06
   status Pending 310-char remark

   Show marketing remark (310 chars)

   Looking for your next remodel project? This 3 bed 1.5 bath home in Vidali, LA offers endless potential. Whether you're a first time homebuyer ready to make it your own or an investor looking to expand your real estate portfolio, this property is a fantastic opportunity. This is a Fannie Mae Homepath property.

2. 2026-02-06
   price $27,500 310-char remark

   Show marketing remark (310 chars)

   Looking for your next remodel project? This 3 bed 1.5 bath home in Vidali, LA offers endless potential. Whether you're a first time homebuyer ready to make it your own or an investor looking to expand your real estate portfolio, this property is a fantastic opportunity. This is a Fannie Mae Homepath property.

3. 2026-01-08
   price $32,500 310-char remark

   Show marketing remark (310 chars)

   Looking for your next remodel project? This 3 bed 1.5 bath home in Vidali, LA offers endless potential. Whether you're a first time homebuyer ready to make it your own or an investor looking to expand your real estate portfolio, this property is a fantastic opportunity. This is a Fannie Mae Homepath property.

4. 2025-12-09
   listed $37,500 Active 310-char remark

   Show marketing remark (310 chars)

   Looking for your next remodel project? This 3 bed 1.5 bath home in Vidali, LA offers endless potential. Whether you're a first time homebuyer ready to make it your own or an investor looking to expand your real estate portfolio, this property is a fantastic opportunity. This is a Fannie Mae Homepath property.

5. 2025-03-27
   soldstatus $20,500

ⓘ 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: $361 · $30/mo
• Projected year-2 tax: $361 · $30/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 4/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 91% 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: $13,230
• − Mortgage interest: −$1,540
• − Property taxes: −$361
• − Insurance: −$138
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$800
• Taxable income: $8,274
• Est. tax owed @ 24.0%: −$1,986
• After-tax cash flow: $6,237/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: Concordia Parish
• NCES district ID: 2200480
• Math proficiency: 19% ▼ -39.00%
• Reading proficiency: 27% ▼ -34.00%
• Median HH income: $29,931
• Composite: 18.45/100
• National rank: #8929
• State rank: #65 of 98 in LA

Livability — Minorca

• Score: 62/100
• State rank: #221
• US rank: #16991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minorca, LA
• Population (ZIP): 5,754

Population outlook (Concordia County) Hauer SSP2

• Today (2025): 18,933 people
• By 2030: 18,157 · -4.1%
• By 2040: 16,559 · -12.5%
• By 2050: 15,067 · -20.4%
• By 2075: 11,770 · -37.8%
• By 2100: 8,541 · -54.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 24% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Concordia

• 2024 margin: Strong R (+29.4) · D 34.8% · R 64.1% · Other 1.1%
• 2008→2024 swing: -9.4pp toward R · 2008: -20.0pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+26.9 2016: R+24.8 2012: R+17.2 2008: R+20.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.97%
• Current HPI: 117.3895
• 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

+34.1% since first listed

5 events — show timeline

• 2026-05-06 Pending — MLSU
• 2026-02-06 Price Changed $27,500 MLSU
• 2026-01-08 Price Changed $32,500 MLSU
• 2025-12-09 Listed $37,500 MLSU
• 2025-03-27 Sold (Public Records) $20,500 Public Records

Property tax history

+0.2%/yr

Latest (2025): $361 · +0.5% YoY. Source: county tax records.