1505 Perry St · Bastrop, LA 71220

$49,000

2 bd · 2.0 ba · 1,196 sqft · SingleFamily public records · 96 Days on market

Built 1956 Est $84k · 41% 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
• Appreciation +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

Investor opportunities!! Rent to Own/ Owner financing Charming little investment property. 3 nice-sized bedrooms and a bath. A nice sized kitchen compliments this home. Nice backyard. Located in the Morehouse school district. This house has lots of possibilities! Pre-approved buyers only. Cash buyers will need proof of funds. (Owner financing Option)

Key facts

• Nice sized kitchen
• Garage
• Listed 96 days

Tags

• NICE SIZED KITCHEN
• BACKYARD WITH PRIVACY
• RICHARDSON SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 50/100 on livability (#425 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D, health & safety D, crime F.
• Morehouse Parish (town): math 10% / reading 19% proficiency, ranked #83 of 98 in LA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP; 11 units permitted in Morehouse Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morehouse County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.1% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 63% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $25k; list at $49k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $44,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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: 2.12% ✓
• Cap rate: 18.77%
• Cash-on-cash: 44.57%
• DSCR: 2.98
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $83,720
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4659 Cedar Dr	0.56mi	3/1.0 (+1)	1,200 (+0%)	24mo	$84,000	$70	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.1% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.9%
• Equity multiple: 2.92×
• Total profit: $26,376
• Equity at exit: $9,284

10-year hold

• IRR: 48.0%
• Equity multiple: 5.84×
• Total profit: $66,404
• Equity at exit: $7,713

Cash invested: $13,720 (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 71220

• Home prices YoY: -1.2%
• Active inventory: 92
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,037 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$33 /mo · $390/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $510

Break-even live

Break-even rent $392

Max offer price $49,000

Occupancy floor 46%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-12
   status Pending
2. 2026-02-13
   price $49,000
3. 2026-02-03
   price $59,000
4. 2025-12-06
   listed $30,000 Active
5. 2025-02-10
   status Pending
6. 2025-01-31
   listed $69,000 Active
7. 1999-10-20
   soldstatus $25,000

ⓘ 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: $390 · $33/mo
• Projected year-2 tax: $390 · $33/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $12,448
• − Mortgage interest: −$2,745
• − Property taxes: −$390
• − Insurance: −$245
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$1,425
• Taxable income: $5,651
• Est. tax owed @ 24.0%: −$1,356
• After-tax cash flow: $4,759/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: Morehouse Parish
• NCES district ID: 2201110
• Math proficiency: 10% ▼ -29.00%
• Reading proficiency: 19% ▼ -29.00%
• Median HH income: $30,482
• Composite: 11.46/100
• National rank: #9704
• State rank: #83 of 98 in LA

Livability — Bastrop

• Score: 50/100
• State rank: #425
• US rank: #25547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bastrop, LA
• Population (ZIP): 20,426

Population outlook (Morehouse County) Hauer SSP2

• Today (2025): 23,631 people
• By 2030: 22,114 · -6.4%
• By 2040: 19,203 · -18.7%
• By 2050: 16,698 · -29.3%
• By 2075: 11,998 · -49.2%
• By 2100: 8,622 · -63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (51%)
• Race & ethnicity: Black 51% White 44% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2%
• Foreign-born: 1% · China

Political lean MEDSL · Morehouse

• 2024 margin: R (+19.4) · D 39.7% · R 59.0% · Other 1.3%
• 2008→2024 swing: -8.3pp toward R · 2008: -11.1pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+13.5 2016: R+11.4 2012: R+5.6 2008: R+11.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.10%
• Current HPI: 171.3272
• Rent YoY: —
• Metro: —
• 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

+96.0% since first listed

7 events — show timeline

• 2026-03-12 Pending — NELABOR
• 2026-02-13 Price Changed $49,000 NELABOR
• 2026-02-03 Price Changed $59,000 NELABOR
• 2025-12-06 Listed $30,000 NELABOR
• 2025-02-10 Pending — NELABOR
• 2025-01-31 Listed $69,000 NELABOR
• 1999-10-20 Sold (Public Records) $25,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $390 · +8.6% YoY. Source: county tax records.