203 E California Ave · Ruston, LA 71270

$122,500

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 151 Days on market

Built 1927 Est $165k · 26% under

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.5/10.0
• Rent growth +4.2/5.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated, turnkey opportunity. After a prior listing, the owner removed the home from the market and completed key improvements, including new flooring, fresh interior paint, and a remodeled kitchen. The property is currently operating as a successful short-term rental, offering immediate usability for an investor. Its location and layout also support long-term rental, student housing, or resale as a primary residence, providing multiple exit strategies. Positioned near downtown Ruston, Louisiana Tech, and everyday conveniences, this property offers strong demand drivers in a proven rental area. A versatile asset suitable for both experienced investors and those entering the rental market.

Key facts

• Proven rental area
• New flooring
• Remodeled kitchen

Tags

• NEW FLOORING
• FRESH INTERIOR PAINT
• REMODELED KITCHEN
• PROVEN RENTAL AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (5.1% below list).
• Recommended offer: $108k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.2% in Ruston — 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 68/100 on livability (#86 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Lincoln Parish (town): math 35% / reading 45% proficiency, ranked #24 of 98 in LA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 277 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 171 units permitted in Lincoln Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $847 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lincoln County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.
• Current owner paid $30k; list at $122k implies a 308% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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 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?
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: 0.95% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.8

CMA / ARV

• ARV (median comp): $165,389
• List price: $122,500
• Delta: -25.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904 E California Ave	0.69mi	3/2.0 (+1)	1,156 (+6%)	10mo	$49,900	$43	40
311 Standifer Ave	0.70mi	3/2.0 (+1)	1,206 (+11%)	1mo	$198,500	$165	40
504 E Texas St	0.32mi	3/2.0 (+1)	1,232 (+13%)	23mo	$124,000	$101	34

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 · 6.6% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,900
• Equity at exit: $18,265

10-year hold

• IRR: 10.1%
• Equity multiple: 1.89×
• Total profit: $30,672
• Equity at exit: $10,592

Cash invested: $34,300 (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 71270

• Home prices YoY: -16.1%
• Rents YoY: 6.6%
• Active inventory: 277
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$642
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $183

Break-even live

Break-even rent $932

Max offer price $122,500

Occupancy floor 79%

Sensitivity live

Price	-10% $252	-5% $217	+0% $183	+5% $148	+10% $113
Rent	-10% $91	-5% $137	+0% $183	+5% $229	+10% $275
Rate	-1.0pp $244	-0.5pp $214	base $183	+0.5pp $151	+1.0pp $119

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 S Monroe St Ruston, LA	2.0	1.0	1237	$1,200	$0.97	45d	1	0.29mi
107 N Homer St Unit 1 Ruston, LA	2.0	2.0	1150	$2,750	$2.39	45d	1	0.61mi
107 N Homer St Unit 10 Ruston, LA	2.0	2.0	1190	$1,450	$1.22	45d	1	0.61mi
102 E Charlotte Ave Ruston, LA	2.0	1.0	1065	$750	$0.70	45d	1	0.84mi
705 Tech Dr Ruston, LA	3.0	1.0	1192	$1,200	$1.01	45d	1	0.94mi

Listing history 28 events

1. 2026-06-16
   days on market $122,500 Active 151 DOM
2. 2026-06-15
   days on market $122,500 Active 150 DOM
3. 2026-06-14
   days on market $122,500 Active 148 DOM
4. 2026-06-12
   remarks 697-char remark
5. 2026-06-12
   days on marketlisting id $122,500 Active 147 DOM
6. 2026-06-09
   days on market $122,500 Active 144 DOM
7. 2026-06-08
   days on market $122,500 Active 143 DOM
8. 2026-06-07
   days on market $122,500 Active 142 DOM
9. 2026-06-05
   days on market $122,500 Active 139 DOM
10. 2026-06-03
    days on market $122,500 Active 138 DOM
11. 2026-06-02
    days on market $122,500 Active 137 DOM
12. 2026-06-01
    days on market $122,500 Active 136 DOM
13. 2026-05-31
    days on market $122,500 Active 135 DOM
14. 2026-05-30
    days on market $122,500 Active 134 DOM
15. 2026-03-11
    price $122,500 697-char remark

    Show marketing remark (623 chars)

    203 East California Ave in Ruston — a thoughtfully refreshed home offering versatility and modern appeal. Previously listed, the owner has since taken the home off the market to complete updates, including new flooring, fresh interior paint, and a remodeled kitchen, creating a move-in-ready space. Currently operating as a successful short-term rental, this property offers excellent potential as a primary residence, student housing, or long-term investment. Conveniently located near downtown Ruston and local amenities, this home combines comfort, function, and flexibility. Call Today! this one is worth a look.

16. 2026-03-11
    price $122,500 623-char remark

    Show marketing remark (623 chars)

    203 East California Ave in Ruston — a thoughtfully refreshed home offering versatility and modern appeal. Previously listed, the owner has since taken the home off the market to complete updates, including new flooring, fresh interior paint, and a remodeled kitchen, creating a move-in-ready space. Currently operating as a successful short-term rental, this property offers excellent potential as a primary residence, student housing, or long-term investment. Conveniently located near downtown Ruston and local amenities, this home combines comfort, function, and flexibility. Call Today! this one is worth a look.

17. 2026-01-16
    listed $125,000 Active 623-char remark

    Show marketing remark (697 chars)

    Updated, turnkey opportunity. After a prior listing, the owner removed the home from the market and completed key improvements, including new flooring, fresh interior paint, and a remodeled kitchen. The property is currently operating as a successful short-term rental, offering immediate usability for an investor. Its location and layout also support long-term rental, student housing, or resale as a primary residence, providing multiple exit strategies. Positioned near downtown Ruston, Louisiana Tech, and everyday conveniences, this property offers strong demand drivers in a proven rental area. A versatile asset suitable for both experienced investors and those entering the rental market.

18. 2026-01-16
    listed $125,000 Active 697-char remark

    Show marketing remark (697 chars)

    Updated, turnkey opportunity. After a prior listing, the owner removed the home from the market and completed key improvements, including new flooring, fresh interior paint, and a remodeled kitchen. The property is currently operating as a successful short-term rental, offering immediate usability for an investor. Its location and layout also support long-term rental, student housing, or resale as a primary residence, providing multiple exit strategies. Positioned near downtown Ruston, Louisiana Tech, and everyday conveniences, this property offers strong demand drivers in a proven rental area. A versatile asset suitable for both experienced investors and those entering the rental market.

19. 2025-04-23
    status Active
20. 2025-04-02
    status Pending
21. 2025-04-02
    price $125,000
22. 2025-03-25
    listed $79,000 Active
23. 2024-12-13
    historical $695
24. 2024-11-30
    price $695
25. 2024-09-20
    price $795
26. 2024-07-12
    price $895
27. 2024-07-10
    listed $695
28. 2005-09-22
    soldstatus $30,000

ⓘ 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: $511 · $43/mo
• Projected year-2 tax: $674 · $56/mo
• Expected delta: +$162/yr (+$14/mo · 31.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $13,956
• − Mortgage interest: −$6,862
• − Property taxes: −$511
• − Insurance: −$612
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$3,564
• Taxable income: $173
• Est. tax owed @ 24.0%: −$42
• After-tax cash flow: $2,151/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: Lincoln Parish
• NCES district ID: 2200990
• Math proficiency: 35% ▼ -32.00%
• Reading proficiency: 45% ▼ -27.00%
• Median HH income: $33,901
• Composite: 32.92/100
• National rank: #5599
• State rank: #24 of 98 in LA

Livability — Ruston

• Score: 68/100
• State rank: #86
• US rank: #9522

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ruston, LA
• County: Lincoln Parish · 32,885 people
• City population: 32,885
• Metro: Ruston, LA
• Population (ZIP): 32,885
• Household income: $36,791
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 2476.0

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 49,595 people
• By 2030: 50,954 · +2.7%
• By 2040: 53,601 · +8.1%
• By 2050: 57,178 · +15.3%
• By 2075: 69,580 · +40.3%
• By 2100: 79,862 · +61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 51% Black 38% Two or more races 6% Hispanic / Latino 4% Asian 2% Native American 1%
• Common ancestry: Lithuanian 4% Slovak 2% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Lincoln

• 2024 margin: Strong R (+25.4) · D 36.5% · R 62.0% · Other 1.6%
• 2008→2024 swing: -13.0pp toward R · 2008: -12.5pp · 2024: -25.4pp
• All cycles: 2024: R+25.4 2020: R+19.5 2016: R+19.6 2012: R+14.7 2008: R+12.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.69%
• Current HPI: 212.8211
• Rent YoY: ▲ 6.60%
• Metro: Ruston, 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

+308.3% since first listed

14 events — show timeline

• 2026-03-11 Price Changed $122,500 NELABOR
• 2026-03-11 Price Changed $122,500 NELABOR
• 2026-01-16 Listed $125,000 NELABOR
• 2026-01-16 Listed $125,000 NELABOR
• 2025-04-23 Relisted — NELABOR
• 2025-04-02 Pending — NELABOR
• 2025-04-02 Price Changed $125,000 NELABOR
• 2025-03-25 Listed $79,000 NELABOR
• 2024-12-13 Rental Removed $695 BUILDIUM
• 2024-11-30 Price Changed $695 BUILDIUM
• 2024-09-20 Price Changed $795 BUILDIUM
• 2024-07-12 Price Changed $895 BUILDIUM
• 2024-07-10 Listed for Rent $695 BUILDIUM
• 2005-09-22 Sold (Public Records) $30,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $511 · +0.0% YoY. Source: county tax records.