4503 Heyman Ln · Alexandria, LA 71303

$185,000

2 bd · 1.0 ba · 1,149 sqft · Condo public records · 39 Days on market

Built 1982 Good condition

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

For Sale: 4503 Heyman Lane, Unit 136, Alexandria, LA 71303 Price: $185,000 THE BEST VALUE IN PARLIAMENT SQUARE RARE 4-BEDROOM FLOORPLAN This is the opportunity you& apos; ve been waiting for. Unit 136 offers a massive 4-bedroom, 2.5-bathroom layout a rare and highly sought-after configuration in the peaceful Parliament Square community. Priced aggressively for a quick sale, this home combines the space of a single-family residence with the low-maintenance lifestyle of a premier condominium. The Standout Highlight: Unbeatable Space & amp; Top-Tier Schools: This is one of the few 4-bedroom units in the complex, providing the square footage needed for a growing family, a hobby room, or

Key facts

• Built 1982
• Listed 38 days

Tags

• PRIVATE PET FRIENDLY PATIO
• ACCESS TO COMMUNITY POOLS
• ZONED FOR TOP TIER SCHOOLS
• CLOSE TO MEDICAL HUBS

Property features AI

Exterior

• Home design: Built in 1982
• Exterior features: Located at 4503 Heyman Ln, Alexandria, LA 71303

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-204 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (19.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (35.0% below list).
• Recommended offer: $120k (35.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#160 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Rapides Parish (urban): math 29% / reading 44% proficiency, ranked #31 of 98 in LA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 174 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 239 units permitted in Rapides Parish in 2024 (0 in 5+ unit buildings).

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.
• Rapides County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($179k) 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.
• Current owner paid $90k; list at $185k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,182 (35.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.65% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.72%
• DSCR: 0.79
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -24.4%
• Equity multiple: 0.17×
• Total profit: $-43,024
• Equity at exit: $27,584

10-year hold

• IRR: -19.9%
• Equity multiple: -0.05×
• Total profit: $-54,427
• Equity at exit: $15,995

Cash invested: $51,800 (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 71303

• Home prices YoY: -29.8%
• Active inventory: 174
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,202 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$106 /mo · $1,273/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-204

Break-even live

Break-even rent $1,460

Max offer price $148,978

Occupancy floor —

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5440 Downing St Alexandria, LA	2.0–3.0	1.5–2.0	1090	$845	$0.77	43d	4	0.71mi
381 Windermere Blvd Alexandria, LA	2.0	2.0	1391	$1,350	$0.97	43d	1	0.77mi
5445 Provine Pl Alexandria, LA	1.0–3.0	1.0–2.0	928	$1,638	$1.77	43d	17	1.31mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-19
   days on market $185,000 Active 39 DOM
2. 2026-06-18
   days on market $185,000 Active 38 DOM
3. 2026-06-17
   days on market $185,000 Active 37 DOM
4. 2026-06-16
   days on market $185,000 Active 36 DOM
5. 2026-06-15
   days on market $185,000 Active 35 DOM
6. 2026-06-14
   days on market $185,000 Active 33 DOM
7. 2026-06-13
   days on market $185,000 Active 32 DOM
8. 2026-06-10
   days on market $185,000 Active 30 DOM
9. 2026-06-09
   days on market $185,000 Active 29 DOM
10. 2026-06-08
    days on market $185,000 Active 28 DOM
11. 2026-06-07
    days on market $185,000 Active 27 DOM
12. 2026-06-03
    days on market $185,000 Active 23 DOM
13. 2026-06-02
    days on market $185,000 Active 22 DOM
14. 2026-06-01
    days on market $185,000 Active 21 DOM
15. 2026-05-31
    days on market $185,000 Active 20 DOM
16. 2026-05-30
    days on market $185,000 Active 19 DOM
17. 2026-05-12
    listed $185,000 Active 2140-char remark
18. 2016-09-29
    listed $134,000
19. 2013-07-01
    soldstatus $90,000

ⓘ 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: $1,273 · $106/mo
• Projected year-2 tax: $1,273 · $106/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% 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: $14,422
• − Mortgage interest: −$10,363
• − Property taxes: −$1,273
• − Insurance: −$925
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − Depreciation: −$5,382
• Taxable loss: −$5,829
• Est. tax savings @ 24.0%: +$1,399
• After-tax cash flow: $-1,048/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.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This condo is in good condition with a good exterior and well-maintained landscaping. Painting and landscaping improvements can further enhance its value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rapides Parish
• NCES district ID: 2201290
• Math proficiency: 29% ▼ -34.00%
• Reading proficiency: 44% ▼ -29.00%
• Median HH income: $41,057
• Composite: 30.68/100
• National rank: #6179
• State rank: #31 of 98 in LA

Livability — Alexandria

• Score: 64/100
• State rank: #160
• US rank: #13698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alexandria, LA
• County: Rapides Parish · 59,791 people
• City population: 25,138
• Metro: Alexandria, LA
• Population (ZIP): 25,138
• Household income: $67,156
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1098.0

Population outlook (Rapides County) Hauer SSP2

• Today (2025): 133,047 people
• By 2030: 132,333 · -0.5%
• By 2040: 129,355 · -2.8%
• By 2050: 124,535 · -6.4%
• By 2075: 110,338 · -17.1%
• By 2100: 88,641 · -33.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 57% Black 36% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Lithuanian 6% Italian 1% Serbian 1%
• Foreign-born: 4% · China, Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Rapides

• 2024 margin: Solid R (+36.8) · D 31.0% · R 67.7% · Other 1.3%
• 2008→2024 swing: -8.1pp toward R · 2008: -28.7pp · 2024: -36.8pp
• All cycles: 2024: R+36.8 2020: R+32.1 2016: R+32.5 2012: R+29.6 2008: R+28.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.84%
• Current HPI: 183.4342
• Rent YoY: —
• Metro: Alexandria, 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

+105.6% since first listed

3 events — show timeline

• 2026-05-12 Listed $185,000 FSBO.com
• 2016-09-29 Listed $134,000 AcadianaMLS
• 2013-07-01 Sold (Public Records) $90,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,273 · -1.0% YoY. Source: county tax records.