178 Leo Ave · Shreveport, LA 71105

$149,900

3 bd · 2.0 ba · 1,525 sqft · SingleFamily public records · 66 Days on market

Built 1940 0.31 ac lot $98/sqft · 24% below area Est $198k · 24% under ↓ 9% since listing

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Why this score? — see what drove the C+ 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.0/10.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 178 Leo Avenue in Shreveport! This solid 3-bedroom, 2-bath home offers great bones and plenty of opportunity for a buyer ready to add personal touches and make it their own. Enjoy relaxing on the covered side porch and the convenience of a detached garage for parking or extra storage. Inside, the home features a functional layout with a kitchen equipped with a cooktop, stove, and refrigerator. The primary bedroom includes a full ensuite bath with a shower, providing privacy and comfort. Two additional bedrooms and a second full bath offer flexibility for family, guests, or a home office. This is a bank-owned property being sold as-is, presenting a great chance for an anyone who wants to build equity with thoughtful improvements rather than paying a premium for someone else’s renovations. With some vision and light updating, this home can truly shine. Don’t miss the opportunity to turn this house into your home—schedule your showing today!

Key facts

• Functional layout
• Second full bath
• Full ensuite bath

Tags

• COVERED SIDE PORCH
• DETACHED GARAGE
• FUNCTIONAL LAYOUT
• KITCHEN EQUIPPED WITH COOKTOP
• FULL ENSUITE BATH
• SECOND FULL BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.7% in Shreveport — 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 59/100 on livability (#270 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Caddo Parish (urban): math 21% / reading 32% proficiency, ranked #53 of 98 in LA (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.9%/yr); 149 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 221 units permitted in Caddo Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Caddo County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1940 — 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 D-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. 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: 1.10% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 7.5

CMA / ARV

• ARV (median comp): $197,726
• List price: $149,900
• Delta: -24.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
174 Lynn Ave	0.35mi	3/2.0	1,550 (+2%)	1mo	$199,000	$128	80
155 Richard Ave	0.31mi	3/2.0	1,552 (+2%)	3mo	$199,900	$129	80
137 Lynn Ave	0.39mi	3/2.0	1,550 (+2%)	3mo	$130,000	$84	76
172 Fremont St	0.26mi	2/1.0 (-1)	1,535 (+1%)	2mo	$74,900	$49	76
258 Carrollton Ave	0.39mi	3/2.0	1,592 (+4%)	1mo	$229,000	$144	74
814 Sweetbriar St	0.58mi	3/2.0	1,510 (-1%)	2mo	$189,000	$125	70
271 Ockley Dr	0.47mi	3/2.0	1,669 (+9%)	0mo	$229,900	$138	62
180 Charles Ave	0.52mi	3/1.0	1,606 (+5%)	2mo	$179,995	$112	61
166 Albert Ave #1	0.56mi	2/2.0 (-1)	1,391 (-9%)	0mo	$173,000	$124	54
279 Carrollton Ave	0.52mi	2/2.0 (-1)	1,711 (+12%)	2mo	$234,900	$137	49
251 Roma Dr	0.67mi	2/2.0 (-1)	1,724 (+13%)	2mo	$175,000	$102	40
326 Albany Ave	0.65mi	2/1.0 (-1)	1,355 (-11%)	2mo	$189,000	$139	40

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 · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-3,675
• Equity at exit: $22,351

10-year hold

• IRR: 8.4%
• Equity multiple: 1.66×
• Total profit: $27,893
• Equity at exit: $12,961

Cash invested: $41,972 (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 71105

• Rents YoY: 3.9%
• Active inventory: 149
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,656 high
• Mortgage (P&I): −$786
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $299

Break-even live

Break-even rent $1,277

Max offer price $149,900

Occupancy floor 77%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Leo Ave Shreveport, LA	4.0	2.0	1846	$2,000	$1.08	13d	1	0.06mi
216 Pennsylvania Ave Shreveport, LA	3.0	1.0	1199	$1,250	$1.04	20d	1	0.18mi
243 Justin Ave Shreveport, LA	3.0	1.0	1236	$1,400	$1.13	43d	1	0.46mi
186 Charles Ave Shreveport, LA	3.0	1.0	1320	$1,675	$1.27	20d	1	0.50mi
119 Charles Ave Shreveport, LA	3.0	2.0	1518	$1,800	$1.19	43d	1	0.56mi
2011 Audubon Pl Shreveport, LA	3.0	2.0	1932	$1,800	$0.93	43d	1	0.62mi
154 Southfield Rd Shreveport, LA	3.0	1.0	1258	$1,395	$1.11	43d	1	0.63mi
4024 Reily Ln Shreveport, LA	3.0	1.0	1220	$1,275	$1.05	20d	1	0.71mi
2033 Horton Ave Shreveport, LA	3.0	2.0	1681	$1,750	$1.04	20d	1	0.78mi
715 Camilla Dr Shreveport, LA	3.0	1.0	1654	$1,350	$0.82	43d	1	1.10mi
6122 Burgundy Dr Shreveport, LA	4.0	2.0	2222	$2,500	$1.13	43d	1	1.29mi
3516 Alexander Ave Shreveport, LA	2.0	1.0	1355	$1,250	$0.92	13d	1	1.31mi
818 E Washington St Shreveport, LA	3.0	1.0	1100	$1,300	$1.18	20d	1	1.34mi
3501 Champion Lake Blvd Shreveport, LA	1.0–2.0	1.0–2.0	845	$1,415	$1.67	13d	20	1.37mi
3131 Knight St Shreveport, LA	1.0–2.0	1.0–2.0	866	$985	$1.14	13d	11	1.39mi
2615 Judith Pl Shreveport, LA	3.0	2.0	1450	$1,600	$1.10	13d	1	1.44mi
1105 Island Park Blvd Shreveport, LA	2.0–3.0	2.0	1280	$1,781	$1.39	13d	9	1.44mi
1000 Riverwalk Blvd Shreveport, LA	1.0–3.0	1.0–2.0	928	$2,071	$2.23	13d	11	1.46mi

Listing history 21 events

1. 2026-06-18
   days on market $149,900 Active 66 DOM
2. 2026-06-17
   days on market $149,900 Active 65 DOM
3. 2026-06-16
   days on market $149,900 Active 64 DOM
4. 2026-06-15
   days on market $149,900 Active 63 DOM
5. 2026-06-14
   days on market $149,900 Active 61 DOM
6. 2026-06-13
   days on market $149,900 Active 60 DOM
7. 2026-06-10
   days on market $149,900 Active 58 DOM
8. 2026-06-09
   days on market $149,900 Active 57 DOM
9. 2026-06-08
   days on market $149,900 Active 56 DOM
10. 2026-06-07
    days on market $149,900 Active 55 DOM
11. 2026-06-05
    days on market $149,900 Active 52 DOM
12. 2026-06-03
    days on market $149,900 Active 51 DOM
13. 2026-06-02
    days on market $149,900 Active 50 DOM
14. 2026-06-01
    days on market $149,900 Active 49 DOM
15. 2026-05-31
    days on market $149,900 Active 48 DOM
16. 2026-05-30
    days on market $149,900 Active 47 DOM
17. 2026-04-13
    listed $149,900 Active

    Show marketing remark (981 chars)

    Welcome to 178 Leo Avenue in Shreveport! This solid 3-bedroom, 2-bath home offers great bones and plenty of opportunity for a buyer ready to add personal touches and make it their own. Enjoy relaxing on the covered side porch and the convenience of a detached garage for parking or extra storage. Inside, the home features a functional layout with a kitchen equipped with a cooktop, stove, and refrigerator. The primary bedroom includes a full ensuite bath with a shower, providing privacy and comfort. Two additional bedrooms and a second full bath offer flexibility for family, guests, or a home office. This is a bank-owned property being sold as-is, presenting a great chance for an anyone who wants to build equity with thoughtful improvements rather than paying a premium for someone else’s renovations. With some vision and light updating, this home can truly shine. Don’t miss the opportunity to turn this house into your home—schedule your showing today!

18. 2026-04-13
    listed $149,900 Active 981-char remark

    Show marketing remark (981 chars)

    Welcome to 178 Leo Avenue in Shreveport! This solid 3-bedroom, 2-bath home offers great bones and plenty of opportunity for a buyer ready to add personal touches and make it their own. Enjoy relaxing on the covered side porch and the convenience of a detached garage for parking or extra storage. Inside, the home features a functional layout with a kitchen equipped with a cooktop, stove, and refrigerator. The primary bedroom includes a full ensuite bath with a shower, providing privacy and comfort. Two additional bedrooms and a second full bath offer flexibility for family, guests, or a home office. This is a bank-owned property being sold as-is, presenting a great chance for an anyone who wants to build equity with thoughtful improvements rather than paying a premium for someone else’s renovations. With some vision and light updating, this home can truly shine. Don’t miss the opportunity to turn this house into your home—schedule your showing today!

19. 2026-04-08
    historical
20. 2026-01-15
    listed $165,000 Active
21. 1996-11-06
    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: $1,924 · $160/mo
• Projected year-2 tax: $1,924 · $160/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $19,866
• − Mortgage interest: −$8,397
• − Property taxes: −$1,924
• − Insurance: −$750
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$4,361
• Taxable income: $1,257
• Est. tax owed @ 24.0%: −$302
• After-tax cash flow: $3,286/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: Caddo Parish
• NCES district ID: 2200300
• Math proficiency: 21% ▼ -33.00%
• Reading proficiency: 32% ▼ -30.00%
• Median HH income: $39,227
• Composite: 22.23/100
• National rank: #8148
• State rank: #53 of 98 in LA

Livability — Shreveport

• Score: 59/100
• State rank: #270
• US rank: #19730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shreveport, LA
• County: Caddo Parish · 178,536 people
• City population: 164,123
• Metro: Shreveport-Bossier City, LA
• Population (ZIP): 20,179
• Household income: $67,968
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1007.0

Population outlook (Caddo County) Hauer SSP2

• Today (2025): 243,190 people
• By 2030: 237,231 · -2.5%
• By 2040: 222,502 · -8.5%
• By 2050: 206,516 · -15.1%
• By 2075: 165,706 · -31.9%
• By 2100: 122,262 · -49.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Two or more races 7% Hispanic / Latino 5% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 3% Serbian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Caddo

• 2024 margin: Toss-up / Even · D 51.6% · R 47.0% · Other 1.4%
• 2008→2024 swing: +1.6pp toward D · 2008: 3.0pp · 2024: 4.6pp
• All cycles: 2024: D+4.6 2020: D+6.8 2016: D+4.2 2012: D+4.9 2008: D+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.75%
• Current HPI: 129.572
• Rent YoY: ▲ 3.93%
• 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

-9.2% since first listed

5 events — show timeline

• 2026-04-13 Listed $149,900 NTREIS
• 2026-04-13 Listed $149,900 NTREIS
• 2026-04-08 Listing Removed — NTREIS
• 2026-01-15 Listed $165,000 NTREIS
• 1996-11-06 Sold (Public Records) — Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,924 · +0.4% YoY. Source: county tax records.