106 Splane Cir · West Monroe, LA 71291

$194,500

3 bd · 2.0 ba · 1,410 sqft · MultiFamily public records · 35 Days on market

Built 1984 2,613 sqft lot $138/sqft · 17% above area Est $165k · 18% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

This adorable 3-bedroom, 2-bath townhouse is the definition of move-in ready and waiting for its next owner to fall in love. From the moment you walk in, you’ll notice the fresh, clean feel with new paint throughout and brand-new carpet on the stairs and in the spacious primary bedroom—giving it that like-new touch without the wait. The kitchen has been updated with a new dishwasher and stove. Step outside to your private back patio with a brand-new fence—ideal for relaxing, entertaining, or simply enjoying a little extra privacy. Location? It doesn’t get much better. Nestled in the heart of West Monroe, you’ll enjoy quick and easy access to I-20, along with be

Key facts

• 2,613 sq ft lot
• Garage
• Built 1984

Property features AI

Finance

• Other: Subdivision: Splane Place
• HOA & community: No association amenities

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; No natural gas available; Electric service (electric water heater and range)
• Home design: Residential condo/townhouse; One and one-half levels; Entry level: 1; Brick veneer construction
• Construction: Composition roof; Slab foundation
• Exterior features: Wood fencing; Landscaped yard; Located on a cul-de-sac; Paved road access

Interior

• Kitchen: Dishwasher; Range hood; Electric range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans; Wall/window AC unit(s)
• Interior features: Ceiling fans; Walk-in closets; Blinds on windows; Smoke and carbon monoxide detectors
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $194k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $194k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.5% in West 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 70/100 on livability (#53 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, commute F, employment F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+8.9%/yr); 199 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).
• At $3,051/mo this rent would consume 51% of the median local household income ($72k/yr) (locally 847% 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $54k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $194k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 72% 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 $188,665 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.57% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.65%
• DSCR: 2.19
• GRM: 5.3

CMA / ARV

• ARV (median comp): $165,371
• List price: $194,500
• Delta: 17.61%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 2.13×
• Total profit: $61,609
• Equity at exit: $29,001

10-year hold

• IRR: 36.2%
• Equity multiple: 5.15×
• Total profit: $226,070
• Equity at exit: $16,817

Cash invested: $54,460 (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 71291

• Home prices YoY: -30.2%
• Rents YoY: 8.9%
• Active inventory: 199
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,051 medium
• Mortgage (P&I): −$1,020
• Tax from tax record: −$100 /mo · $1,195/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$641
• Net cashflow: $1,210

Break-even live

Break-even rent $1,520

Max offer price $194,500

Occupancy floor 55%

Sensitivity live

Price	-10% $1,320	-5% $1,265	+0% $1,210	+5% $1,155	+10% $1,100
Rent	-10% $969	-5% $1,089	+0% $1,210	+5% $1,330	+10% $1,451
Rate	-1.0pp $1,308	-0.5pp $1,259	base $1,210	+0.5pp $1,159	+1.0pp $1,108

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,052
Total (2 units)			$3,051

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2417 N 9th St West Monroe, LA	2.0	1.0	900	$2,000	$2.22	44d	1	0.15mi
1114 Otis St West Monroe, LA	3.0	2.0	1304	$1,595	$1.22	44d	1	0.24mi
202 Gross St West Monroe, LA	3.0	1.0	1100	$1,350	$1.23	44d	1	0.67mi
112 Fairlane Dr Unit 8 West Monroe, LA	2.0	2.0	1050	$1,600	$1.52	22d	1	1.08mi
220 Drew Ave West Monroe, LA	3.0	1.0	900	$1,525	$1.69	22d	1	1.44mi
403 K St Monroe, LA	3.0	2.0	1561	$1,100	$0.70	22d	1	1.45mi
1707 N 5th St Monroe, LA	3.0	2.0	1694	$3,500	$2.07	22d	1	1.49mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $194,500 Pending 35 DOM
2. 2026-06-10
   days on market $194,500 Active 34 DOM
3. 2026-06-09
   days on market $194,500 Active 33 DOM
4. 2026-06-08
   days on market $194,500 Active 32 DOM
5. 2026-06-07
   days on market $194,500 Active 31 DOM
6. 2026-06-03
   days on market $194,500 Active 27 DOM
7. 2026-06-02
   days on market $194,500 Active 26 DOM
8. 2026-06-01
   days on market $194,500 Active 25 DOM
9. 2026-05-31
   days on market $194,500 Active 24 DOM
10. 2026-05-30
    days on market $194,500 Active 23 DOM
11. 2026-05-07
    listed $199,500 Active 1007-char remark
12. 2013-10-04
    soldstatus $95,000

ⓘ 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: $1,195 · $100/mo
• Projected year-2 tax: $1,195 · $100/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 (unshaded) · 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 6/10 Major 72% 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: $36,612
• − Mortgage interest: −$10,895
• − Property taxes: −$1,195
• − Insurance: −$972
• − Repairs & maintenance: −$2,929
• − Management: −$2,929
• − Depreciation: −$5,658
• Taxable income: $12,033
• Est. tax owed @ 24.0%: −$2,888
• After-tax cash flow: $11,628/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: Ouachita Parish
• NCES district ID: 2201200
• Math proficiency: 31% ▼ -38.00%
• Reading proficiency: 45% ▼ -31.00%
• Median HH income: $43,316
• Composite: 32.14/100
• National rank: #5791
• State rank: #26 of 98 in LA

Livability — West Monroe

• Score: 70/100
• State rank: #53
• US rank: #7498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Monroe, LA
• County: Ouachita Parish · 118,340 people
• City population: 58,204
• Metro: Monroe, LA
• Population (ZIP): 35,269
• Household income: $71,639
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 847.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -95.15%
• Current HPI: 220.1737
• Rent YoY: ▲ 8.93%
• 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

+104.7% since first listed

4 events — show timeline

• 2026-06-11 Pending — NELABOR
• 2026-05-26 Price Changed $194,500 NELABOR
• 2026-05-07 Listed $199,500 NELABOR
• 2013-10-04 Sold (Public Records) $95,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,195 · +5.8% YoY. Source: county tax records.