1220 W Chimes St · Baton Rouge, LA 70802

$690,000

None bd · None ba · 8,000 sqft · MultiFamily · 322 Days on market

0.30 ac lot $86/sqft · 66% 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime Investment Opportunity!Prime Investment Opportunity - 10-Unit Multifamily Near LSU Located just minutes from LSU's iconic Tiger Stadium and LSU's Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you're a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

Key facts

• On site laundry room
• Near lsu
• 10 unit multifamily

Tags

• 10 UNIT MULTIFAMILY
• NEAR LSU
• ON SITE LAUNDRY ROOM

🏷️ Possibly a rental listed for sale. The $690,000 price doesn't fit this home's estimated sale value (~$2,000,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $230/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $690k).
• Recommended offer: $607k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 4.3% 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.
• Market conditions: Rents rising fast (+6.6%/yr); 188 active listings in the ZIP; lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• At $8,162/mo this rent would consume 284% 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 $5k of loan paydown is wiped out by about $21k 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 $193k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($607k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $180k; list at $690k implies a 283% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $607,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.18% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.29%
• DSCR: 1.64
• GRM: 7.0

CMA / ARV

• ARV (median comp): $2,000,000
• List price: $690,000
• Delta: -65.50%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3202-3230 Iowa St	0.26mi	—/—	8,950 (+12%)	2mo	$2,000,000	$223	66

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: 8.3%
• Equity multiple: 1.34×
• Total profit: $64,984
• Equity at exit: $102,881

10-year hold

• IRR: 20.2%
• Equity multiple: 2.96×
• Total profit: $379,145
• Equity at exit: $59,659

Cash invested: $193,200 (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 70802

• Rents YoY: 6.6%
• Active inventory: 188
• Price-to-rent: 70.4×

Monthly cashflow live

• Estimated rent: $8,162 high
• Mortgage (P&I): −$3,618
• Tax from tax record: −$242 /mo · $2,901/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,714
• Net cashflow: $2,300

Break-even live

Break-even rent $5,250

Max offer price $690,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$8,160
Total (10 units)			$8,162

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: $172,500
• Closing costs: $20,700
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $690,000 Active 322 DOM
2. 2026-06-17
   days on market $690,000 Active 321 DOM
3. 2026-06-16
   days on market $690,000 Active 320 DOM
4. 2026-06-15
   days on market $690,000 Active 319 DOM
5. 2026-06-14
   days on market $690,000 Active 317 DOM
6. 2026-06-10
   days on market $690,000 Active 314 DOM
7. 2026-06-09
   days on market $690,000 Active 313 DOM
8. 2026-06-08
   days on market $690,000 Active 312 DOM
9. 2026-06-07
   days on market $690,000 Active 311 DOM
10. 2026-06-05
    days on market $690,000 Active 308 DOM
11. 2026-06-03
    days on market $690,000 Active 307 DOM
12. 2026-06-02
    days on market $690,000 Active 306 DOM
13. 2026-06-01
    days on market $690,000 Active 305 DOM
14. 2026-05-31
    days on market $690,000 Active 304 DOM
15. 2026-05-31
    days on market $690,000 Active 303 DOM
16. 2025-11-12
    price $690,000 620-char remark

    Show marketing remark (620 chars)

    Prime Investment Opportunity!Prime Investment Opportunity - 10-Unit Multifamily Near LSU Located just minutes from LSU's iconic Tiger Stadium and LSU's Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you're a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

17. 2025-11-11
    price $690,000 644-char remark

    Show marketing remark (644 chars)

    Prime Investment Opportunity!Prime Investment Opportunity – 10-Unit Multifamily Near LSU Located just minutes from LSU’s iconic Tiger Stadium and LSU’s Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you’re a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

18. 2025-09-29
    price $729,999 620-char remark

    Show marketing remark (644 chars)

    Prime Investment Opportunity!Prime Investment Opportunity – 10-Unit Multifamily Near LSU Located just minutes from LSU’s iconic Tiger Stadium and LSU’s Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you’re a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

19. 2025-09-29
    price $729,999 644-char remark

    Show marketing remark (644 chars)

    Prime Investment Opportunity!Prime Investment Opportunity – 10-Unit Multifamily Near LSU Located just minutes from LSU’s iconic Tiger Stadium and LSU’s Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you’re a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

20. 2025-08-04
    price $749,000 620-char remark

    Show marketing remark (644 chars)

    Prime Investment Opportunity!Prime Investment Opportunity – 10-Unit Multifamily Near LSU Located just minutes from LSU’s iconic Tiger Stadium and LSU’s Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you’re a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

21. 2025-08-04
    price $749,000 644-char remark

    Show marketing remark (644 chars)

    Prime Investment Opportunity!Prime Investment Opportunity – 10-Unit Multifamily Near LSU Located just minutes from LSU’s iconic Tiger Stadium and LSU’s Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you’re a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

22. 2025-07-31
    listed $689,000 Active 644-char remark

    Show marketing remark (620 chars)

    Prime Investment Opportunity!Prime Investment Opportunity - 10-Unit Multifamily Near LSU Located just minutes from LSU's iconic Tiger Stadium and LSU's Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you're a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

23. 2025-07-31
    listed $689,000 Active 620-char remark

    Show marketing remark (620 chars)

    Prime Investment Opportunity!Prime Investment Opportunity - 10-Unit Multifamily Near LSU Located just minutes from LSU's iconic Tiger Stadium and LSU's Box baseball field, this 10-unit apartment complex is a strong, income-producing asset in a high-demand rental area. Tenants are responsible for their own utilities, keeping operating costs low for the owner. The roof is less than 5 years old, and the property includes an on-site laundry room for added tenant convenience and extra income potential. Whether you're a seasoned investor or just getting started, this property offers solid cash flow and long-term value.

24. 2019-02-26
    soldstatus $180,000

ⓘ 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: $2,901 · $242/mo
• Projected year-2 tax: $3,795 · $316/mo
• Expected delta: +$894/yr (+$75/mo · 30.8%)

ⓘ 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 · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 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: $97,944
• − Mortgage interest: −$38,651
• − Property taxes: −$2,901
• − Insurance: −$3,450
• − Repairs & maintenance: −$7,836
• − Management: −$7,836
• − Depreciation: −$20,073
• Taxable income: $17,199
• Est. tax owed @ 24.0%: −$4,128
• After-tax cash flow: $23,476/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

+283.3% since first listed

9 events — show timeline

• 2025-11-12 Price Changed $690,000 AcadianaMLS
• 2025-11-11 Price Changed $690,000 GBRMLS
• 2025-09-29 Price Changed $729,999 AcadianaMLS
• 2025-09-29 Price Changed $729,999 GBRMLS
• 2025-08-04 Price Changed $749,000 AcadianaMLS
• 2025-08-04 Price Changed $749,000 GBRMLS
• 2025-07-31 Listed $689,000 GBRMLS
• 2025-07-31 Listed $689,000 AcadianaMLS
• 2019-02-26 Sold (Public Records) $180,000 Public Records

Property tax history

-3.5%/yr

Latest (2025): $2,901 · +4.5% YoY. Source: county tax records.