2245 Thomas H Delpit Dr · Baton Rouge, LA 70802

$68,000

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 69 Days on market

Built 1970 3,920 sqft lot $45/sqft · 27% below area Est $94k · 27% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

Attention investors and renovators! This unique opportunity just 1 minute from LSU offers incredible upside with two homes and one vacant lot included in the sale. Whether you're looking to renovate, rebuild, or develop, this property is loaded with potential in a highly desirable location.

Key facts

• One vacant lot
• Two homes
• 3,920 sq ft lot

Tags

• TWO HOMES
• ONE VACANT LOT
• HIGHLY DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $64k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• At $1,380/mo this rent would consume 48% 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 $470 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $63,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 2.03% ✓
• Cap rate: 18.39%
• Cash-on-cash: 43.21%
• DSCR: 2.92
• GRM: 4.1

CMA / ARV

• ARV (median comp): $93,529
• List price: $68,000
• Delta: -27.30%
• 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
2163 Colorado St	0.16mi	3/2.5	1,413 (-6%)	9mo	$175,000	$124	73
474 W Grant St	0.40mi	3/2.0	1,586 (+6%)	1mo	$85,000	$54	71
1915 Tennessee St	0.25mi	4/2.0 (+1)	1,600 (+7%)	8mo	$160,000	$100	66
676 W Grant St	0.50mi	4/2.0 (+1)	1,580 (+5%)	4mo	$59,900	$38	60
2002 Thomas H Delpit Dr	0.19mi	3/1.0	1,313 (-12%)	9mo	$98,000	$75	59
1555 Utah St	0.51mi	3/2.0	1,468 (-2%)	20mo	$60,000	$41	56
1940 Nebraska St	0.30mi	3/2.0	1,300 (-13%)	14mo	$34,900	$27	52
2651 June St	0.45mi	2/2.0 (-1)	1,658 (+10%)	9mo	$509,900	$308	49
647 Cotton St	0.62mi	3/2.0	1,350 (-10%)	9mo	$125,000	$93	47
806 Violet St	0.69mi	3/2.0	1,419 (-5%)	17mo	$169,900	$120	45
1555 Fig St	0.51mi	3/2.0	1,308 (-13%)	18mo	$215,000	$164	40
1343 Eddie Robinson Sr Dr	0.67mi	3/2.0	1,658 (+10%)	15mo	$67,000	$40	38

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: 13.4%
• Equity multiple: 1.57×
• Total profit: $10,886
• Equity at exit: $10,139

10-year hold

• IRR: 26.0%
• Equity multiple: 3.86×
• Total profit: $54,524
• Equity at exit: $5,879

Cash invested: $19,040 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,380 high
• Mortgage (P&I): −$357
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$28
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $259

Break-even live

Break-even rent $1,052

Max offer price $68,000

Occupancy floor 76%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
470 E McKinley St Baton Rouge, LA	3.0	1.0	1200	$1,185	$0.99	23d	1	0.16mi
1104 E Harrison St Unit A Baton Rouge, LA	2.0	2.0	1100	$975	$0.89	43d	1	0.29mi
2273 Carolina St Baton Rouge, LA	3.0	2.0	1244	$1,050	$0.84	43d	1	0.34mi
634 W Grant St Baton Rouge, LA	3.0	2.0	1467	$1,850	$1.26	43d	1	0.45mi
417 E State St Baton Rouge, LA	3.0	1.0–2.0	849	$1,350	$1.59	14d	26	0.50mi
1538 Fig St Baton Rouge, LA	3.0	1.0	1100	$1,100	$1.00	23d	1	0.52mi
408 E State St Unit B Baton Rouge, LA	2.0	2.0	1258	$1,100	$0.87	43d	1	0.53mi
1430 S 17th St Baton Rouge, LA	3.0	2.0	1136	$3,499	$3.08	43d	1	0.73mi
1702 Terrace Ave Baton Rouge, LA	4.0	2.0	1117	$1,400	$1.25	23d	1	0.80mi
1133 Maximillian St Baton Rouge, LA	3.0	2.0	1240	$1,100	$0.89	43d	1	0.82mi
101 Baton Rouge, LA	1.0–2.0	1.0–2.0	803	$1,696	$2.11	14d	28	0.86mi
2225 Broussard St Baton Rouge, LA	4.0	2.0	2000	$2,400	$1.20	23d	1	1.02mi
2539 Fiero St Baton Rouge, LA	2.0	2.0	1752	$2,600	$1.48	43d	1	1.02mi
802 S 18th St Baton Rouge, LA	3.0	2.0	1293	$1,690	$1.31	23d	1	1.09mi
718 Park Blvd Unit 1 Baton Rouge, LA	2.0	1.0	1189	$1,500	$1.26	23d	1	1.17mi
710 Park Blvd #6 Baton Rouge, LA	2.0	1.0	1111	$1,800	$1.62	14d	1	1.19mi
636 Napoleon St Baton Rouge, LA	2.0	1.0	1065	$1,650	$1.55	14d	1	1.20mi
1035 Rittiner Dr Baton Rouge, LA	3.0	1.0	1145	$1,200	$1.05	14d	1	1.31mi
925 Rittiner Dr Unit 927 Baton Rouge, LA	3.0	1.0	1147	$1,250	$1.09	43d	1	1.36mi
303 S 21st St Baton Rouge, LA	3.0	1.0	1070	$825	$0.77	43d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $68,000 Active 69 DOM
2. 2026-06-17
   days on market $68,000 Active 68 DOM
3. 2026-06-16
   days on market $68,000 Active 67 DOM
4. 2026-06-15
   days on market $68,000 Active 66 DOM
5. 2026-06-14
   days on market $68,000 Active 64 DOM
6. 2026-06-10
   days on market $68,000 Active 61 DOM
7. 2026-06-09
   days on market $68,000 Active 60 DOM
8. 2026-06-08
   days on market $68,000 Active 59 DOM
9. 2026-06-07
   days on market $68,000 Active 58 DOM
10. 2026-06-05
    days on market $68,000 Active 55 DOM
11. 2026-06-03
    days on market $68,000 Active 54 DOM
12. 2026-06-02
    days on market $68,000 Active 53 DOM
13. 2026-06-01
    days on market $68,000 Active 52 DOM
14. 2026-05-31
    days on market $68,000 Active 51 DOM
15. 2026-05-31
    days on market $68,000 Active 50 DOM
16. 2016-04-10
    listed $68,000 Active 291-char remark

    Show marketing remark (291 chars)

    Attention investors and renovators! This unique opportunity just 1 minute from LSU offers incredible upside with two homes and one vacant lot included in the sale. Whether you're looking to renovate, rebuild, or develop, this property is loaded with potential in a highly desirable location.

17. 2016-04-10
    listed $68,000 Active 291-char remark

    Show marketing remark (291 chars)

    Attention investors and renovators! This unique opportunity just 1 minute from LSU offers incredible upside with two homes and one vacant lot included in the sale. Whether you're looking to renovate, rebuild, or develop, this property is loaded with potential in a highly desirable location.

18. 1984-07-30
    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: $233 · $19/mo
• Projected year-2 tax: $374 · $31/mo
• Expected delta: +$141/yr (+$12/mo · 60.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 74% 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: $16,556
• − Mortgage interest: −$3,809
• − Property taxes: −$233
• − Insurance: −$5,458
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$1,978
• Taxable income: $2,428
• Est. tax owed @ 24.0%: −$583
• After-tax cash flow: $2,526/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

+0.0% since first listed

3 events — show timeline

• 2016-04-10 Listed $68,000 AcadianaMLS
• 2016-04-10 Listed $68,000 GBRMLS
• 1984-07-30 Sold (Public Records) — Public Records

Property tax history

+20.5%/yr

Latest (2025): $233 · +4.7% YoY. Source: county tax records.