3115 Slate St · Baton Rouge, LA 70802

$159,500

3 bd · 2.0 ba · 2,233 sqft · SingleFamily · 79 Days on market

Built 1966 7,405 sqft lot $71/sqft · 34% above area Est $119k · 34% over

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Why this score? — see what drove the D 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 +19.4/30.0
• DSCR +6.1/10.0
• 1% rule +4.8/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

Key facts

• Rich wood flooring
• Custom built-ins
• Updated kitchen

Tags

• RICH WOOD FLOORING
• CUSTOM BUILT-INS
• PAINTED BRICK FIREPLACE
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (2.0% below list).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.2% in Baton Rouge — 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 74/100 on livability (#24 in LA, #4,535 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: amenities D, crime F, employment D-.
• East Baton Rouge Parish (urban): math 22% / reading 34% proficiency, ranked #47 of 98 in LA (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Park Elementary School (math 2% / reading 17%, grade F, #597 of 646 statewide, top 95%, 336 students, 95% FRL); Capitol Middle School (math 4% / reading 10%, grade F, #212 of 218 statewide, top 97%, 580 students, 87% FRL); Liberty High School (math 50% / reading 74%, grade B-, #15 of 265 statewide, top 6%, 1,208 students, 60% FRL) — zoned schools at 81% FRL track the district average.
• Market conditions: Rents rising fast (+6.6%/yr); 202 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• At $1,563/mo this rent would consume 54% of the median local household income ($34k/yr) (locally 1831% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% 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 $149,930 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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?
6. 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?
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: 0.98% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.5

CMA / ARV

• ARV (median comp): $118,642
• List price: $159,500
• Delta: 34.44%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1130 N 38th St	0.34mi	3/2.0	2,200 (-2%)	20mo	$60,000	$27	65
1715 N 26th St	0.40mi	3/2.0	1,977 (-12%)	21mo	$140,000	$71	45
3040 Madison Ave	0.49mi	3/2.5	2,499 (+12%)	14mo	$170,000	$68	43
2458 Washington Ave	0.53mi	4/2.0 (+1)	2,067 (-7%)	21mo	$72,500	$35	40
4042 S Barrow Dr	0.58mi	4/1.5 (+1)	1,918 (-14%)	9mo	$79,900	$42	35

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 · 6.59% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,609
• Equity at exit: $23,782

10-year hold

• IRR: 8.4%
• Equity multiple: 1.74×
• Total profit: $33,001
• Equity at exit: $13,791

Cash invested: $44,660 (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 70802

• Rents YoY: 6.6%
• Active inventory: 202
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$836
• Tax from tax record: −$153 /mo · $1,839/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $179

Break-even live

Break-even rent $1,337

Max offer price $159,500

Occupancy floor 84%

Sensitivity live

Price	-10% $269	-5% $224	+0% $179	+5% $134	+10% $89
Rent	-10% $55	-5% $117	+0% $179	+5% $241	+10% $302
Rate	-1.0pp $259	-0.5pp $219	base $179	+0.5pp $138	+1.0pp $95

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1336 N 29th St Baton Rouge, LA	3.0	2.0	1400	$1,450	$1.04	16d	1	0.17mi
3906 S Barrow Dr Baton Rouge, LA	3.0	2.0	1523	$1,295	$0.85	25d	1	0.52mi
2645 Seneca St Baton Rouge, LA	3.0	2.0	1650	$1,550	$0.94	25d	1	0.84mi
2120 Convention St Baton Rouge, LA	3.0	2.0	2200	$1,675	$0.76	16d	1	0.96mi
239 West Dr Baton Rouge, LA	2.0	1.0	1428	$1,250	$0.88	25d	1	0.96mi
3044 Wilshire Dr Baton Rouge, LA	3.0	2.0	1734	$2,350	$1.36	16d	1	0.97mi
1201 N Foster Dr Baton Rouge, LA	1.0–3.0	1.0–3.0	1300	$1,688	$1.30	16d	31	1.00mi
755 Arlington Ave Baton Rouge, LA	4.0	2.5	1760	$2,250	$1.28	21d	1	1.27mi
5212 Jackson Ave Baton Rouge, LA	4.0	2.0	1500	$1,650	$1.10	25d	1	1.29mi
3725 Winbourne Ave Baton Rouge, LA	4.0	2.0	1900	$1,550	$0.82	45d	1	1.32mi
3725 Winbourne Ave Baton Rouge, LA	4.0	1.5	1800	$1,495	$0.83	21d	1	1.32mi

Listing history 15 events

1. 2026-05-08
   status Pending 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

2. 2026-05-08
   status Pending 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

3. 2026-04-06
   price $159,500 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

4. 2026-04-06
   price $159,500 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

5. 2026-03-17
   price $165,000 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

6. 2026-03-17
   price $165,000 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

7. 2026-02-18
   listed $170,000 Active 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

8. 2026-02-18
   listed $170,000 Active 638-char remark

   Show marketing remark (638 chars)

   Charming home with rich wood flooring, abundant natural light, and a functional layout create a warm and inviting feel. The living area features custom built-ins surrounding a painted brick fireplace, adding character and practical storage. The updated kitchen includes white cabinetry, granite countertops, stainless steel appliances, a farmhouse sink, and recessed lighting, flowing easily into a spacious dining area ideal for everyday living and gatherings. With generous interior space and room to spread this home offers charm, updates, and plenty of opportunity to make it your own. Convenient to mid city and downtown Baton Rouge!

9. 2022-07-12
   soldstatus $158,000
10. 2022-07-12
    soldstatus $158,000
11. 2015-09-04
    soldstatus Sold
12. 2015-08-26
    status Pending
13. 2015-06-03
    listed $69,900 Active
14. 2015-05-12
    listed $69,900
15. 1993-12-10
    soldstatus

ⓘ 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: $1,839 · $153/mo
• Projected year-2 tax: $1,839 · $153/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) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,759
• − Mortgage interest: −$8,934
• − Property taxes: −$1,839
• − Insurance: −$798
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$4,640
• Taxable loss: −$453
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $2,255/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: East Baton Rouge Parish
• NCES district ID: 2200540
• Math proficiency: 22% ▼ -36.00%
• Reading proficiency: 34% ▼ -31.00%
• Median HH income: $46,263
• Composite: 24.14/100
• National rank: #7745
• State rank: #47 of 98 in LA

Livability — Baton Rouge

• Score: 74/100
• State rank: #24
• US rank: #4535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baton Rouge, LA
• County: East Baton Rouge Parish · 399,686 people
• City population: 351,868
• Metro: Baton Rouge, LA
• Population (ZIP): 25,118
• Household income: $34,458
• Rent vs Own: 69.1% rent · 30.9% own
• Severe rent burden: 1831.0

Population outlook (East Baton Rouge County) Hauer SSP2

• Today (2025): 464,810 people
• By 2030: 472,137 · +1.6%
• By 2040: 480,243 · +3.3%
• By 2050: 484,422 · +4.2%
• By 2075: 492,069 · +5.9%
• By 2100: 476,347 · +2.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 20% Two or more races 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 0%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 3% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · East Baton Rouge

• 2024 margin: D (+11.1) · D 54.5% · R 43.4% · Other 2.1%
• 2008→2024 swing: +8.9pp toward D · 2008: 2.2pp · 2024: 11.1pp
• All cycles: 2024: D+11.1 2020: D+13.1 2016: D+9.2 2012: D+5.2 2008: D+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.02%
• Current HPI: 47.7285
• Rent YoY: ▲ 6.59%
• Metro: Baton Rouge, 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

+128.2% since first listed

15 events — show timeline

• 2026-05-08 Pending — GBRMLS
• 2026-05-08 Pending — AcadianaMLS
• 2026-04-06 Price Changed $159,500 AcadianaMLS
• 2026-04-06 Price Changed $159,500 GBRMLS
• 2026-03-17 Price Changed $165,000 AcadianaMLS
• 2026-03-17 Price Changed $165,000 GBRMLS
• 2026-02-18 Listed $170,000 AcadianaMLS
• 2026-02-18 Listed $170,000 GBRMLS
• 2022-07-12 Sold (Public Records) $158,000 Public Records
• 2022-07-12 Sold (Public Records) $158,000 Public Records
• 2015-09-04 Sold (MLS) — GBRMLS
• 2015-08-26 Pending — GBRMLS
• 2015-06-03 Listed $69,900 GBRMLS
• 2015-05-12 Listed $69,900 AcadianaMLS
• 1993-12-10 Sold (Public Records) — Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,839 · +4.7% YoY. Source: county tax records.