4111 Pines Rd #46

Shreveport, LA 71119

$115,000F

2 bd · 1.5 ba · 1,196 sqft · Built 1980 · MultiFamily · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $975/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$164
• HOA: −$75
• Vac / Maint / Mgmt: −$205
• Net cashflow: $-72/mo
• Annual: $-862/yr
• Cap rate: 5.54%
• Cash-on-cash: -2.68%
• DSCR: 0.88
• 1% rule: 0.85%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.5-bath multifamily listed at $115k.
• At list price, monthly cash flow is $-72 ($-862/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (15.2% below list).
• It's been on market 103 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (15.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: crime F, amenities F, commute 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.
• Zoned schools: Turner Elementary Middle School (math 8% / reading 16%, grade F, #568 of 646 statewide, top 89%, 1,371 students, 81% FRL); Caddo Parish Middle Magnet School (math 79% / reading 93%, grade A+, #1 of 218 statewide, top 0%, 1,003 students, 23% FRL); Huntington High School (math 6% / reading 34%, grade F, #183 of 265 statewide, top 70%, 1,228 students, 72% FRL).
• Zoned-school proficiency averages 39% at this address vs 26% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Caddo Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 221 units permitted in Caddo Parish in 2024 (0 in 5+ unit buildings).
• Caddo County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 67% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?