3902 Harrison St · Monroe, LA 71203

$78,000

None bd · None ba · — sqft · MultiFamily · 13 Days on market

Built 1951 Fair condition ↓ 6% since listing

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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
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Great investment opportunity! This residential income property offers strong rental potential and consistent cash flow with both spaces currently occupied (4/1/2026). Well-maintained and ideally suited for both seasoned investors and those looking to expand their portfolio. Property is being sold as part of a package deal—please inquire for full details on included properties.

Key facts

• Built 1951
• Listed 13 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Natural gas available and connected
• Home design: Duplex residential income property
• Construction: Masonite exterior; Slab foundation
• Exterior features: Asphalt roof; On-site storage structure

Interior

• Kitchen: Gas range; Gas water heater
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Other interior features
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a multifamily listed at $78k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $78k).
• Cap rate 29.5% vs local median 5.7% in Monroe — 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 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: 437 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).
• At $2,588/mo this rent would consume 59% of the median local household income ($52k/yr) (locally 2085% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: built in 1951 — 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 $78,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.32% ✓
• Cap rate: 29.45%
• Cash-on-cash: 82.72%
• DSCR: 4.68
• GRM: 2.5

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: 83.0%
• Equity multiple: 4.81×
• Total profit: $83,284
• Equity at exit: $11,630

10-year hold

• IRR: 86.3%
• Equity multiple: 9.98×
• Total profit: $196,148
• Equity at exit: $6,744

Cash invested: $21,840 (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 71203

• Home prices YoY: -32.4%
• Active inventory: 437
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,588 medium
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $1,505

Break-even live

Break-even rent $682

Max offer price $78,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,559	-5% $1,532	+0% $1,505	+5% $1,479	+10% $1,452
Rent	-10% $1,301	-5% $1,403	+0% $1,505	+5% $1,608	+10% $1,710
Rate	-1.0pp $1,545	-0.5pp $1,525	base $1,505	+0.5pp $1,485	+1.0pp $1,465

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,588
Total (2 units)			$2,588

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Bell Ave Monroe, LA	3.0	2.0	1800	$985	$0.55	21d	1	0.38mi
905 N McGuire Ave Monroe, LA	3.0	2.0	1516	$2,100	$1.39	21d	1	0.55mi

Listing history 5 events

1. 2026-05-06
   status Pending
2. 2026-05-05
   status Active
3. 2026-04-14
   status Pending
4. 2026-04-02
   listed $78,000 Active
5. 2012-03-16
   listed $82,900

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $31,056
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − Depreciation: −$2,269
• Taxable income: $17,889
• Est. tax owed @ 24.0%: −$4,293
• After-tax cash flow: $13,772/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and maintenance, including roof replacement, siding repair, HVAC unit replacement, and landscaping improvements. While it has rental potential, the current condition may deter potential tenants. Investing in these updates will significantly increase its value and rental appeal.

Repairs flagged

• Major roof — Signs of water damage and discoloration
• Major siding — Loose and damaged areas
• Major flooring — Cracks and uneven surfaces
• Major HVAC units — Old and possibly inoperable
• Major landscaping — Overgrown and in need of trimming

Value-add opportunities

• Both roof replacement — Fixing the roof will improve the home's appearance and functionality
• Both siding repair/replacement — Updating the siding will enhance the home's curb appeal and durability
• Both HVAC unit replacement — A new HVAC system will improve comfort and energy efficiency
• Both landscaping and yard maintenance — A well-maintained yard will increase the home's appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of water damage and discoloration	Major	$15,000–50,000
siding · Loose and damaged areas	Major	$15,000–50,000
flooring · Cracks and uneven surfaces	Major	$15,000–50,000
HVAC units · Old and possibly inoperable	Major	$15,000–50,000
landscaping · Overgrown and in need of trimming	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both roof replacement — Fixing the roof will improve the home's appearance and functionality ↑
• Both siding repair/replacement — Updating the siding will enhance the home's curb appeal and durability ↑
• Both HVAC unit replacement — A new HVAC system will improve comfort and energy efficiency ↑
• Both landscaping and yard maintenance — A well-maintained yard will increase the home's appeal and value ↑

ⓘ 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): 38,354
• Household income: $52,326
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 2085.0

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 0.57)
• Race & ethnicity: Black 48% White 45% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 3% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 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: ▼ -99.01%
• Current HPI: 206.1948
• 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

-5.9% since first listed

5 events — show timeline

• 2026-05-06 Pending — NELABOR
• 2026-05-05 Relisted — NELABOR
• 2026-04-14 Pending — NELABOR
• 2026-04-02 Listed $78,000 NELABOR
• 2012-03-16 Listed $82,900 NELABOR