4204 Spurgeon Dr · Monroe, LA 71203

$120,000

2 bd · 1.0 ba · 1,079 sqft · SingleFamily public records · 9 Days on market

Built 1950

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1.5-bath home located in a desirable neighborhood less than one mile from University of Louisiana Monroe. The spacious backyard offers a great setting for outdoor entertaining, complete with a deck for relaxing and gathering with family and friends. Additional features include a double carport and convenient access to shopping, dining, and the university. Whether you’re a first-time homebuyer, investor, or looking for a rental property opportunity, this home offers excellent potential in a prime location.

Key facts

• Spacious backyard
• Deck for relaxing
• Double carport

Tags

• SPACIOUS BACKYARD
• DECK FOR RELAXING
• DOUBLE CARPORT
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

Property features AI

Finance

• Other: Subdivision: SHERROUSE PARK
• HOA & community: No association amenities

Exterior

• Parking: 2-car garage; Has carport
• Utilities: Public water; Public sewer; Natural gas available and connected
• Home design: Single-family residence (site build); One story; Entry level: 1; New construction; Proposed development status
• Construction: Brick veneer construction; Pillar/post/pier foundation
• Exterior features: No fencing; Lot features: Other

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms; 1 partial bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Refrigerator; Electric water heater; No fireplace
• Laundry & utility: Electric water heater

🏗️ New construction. The $120,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $93,873.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 11.9% vs local median 5.8% in 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 66/100 on livability (#128 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime F, amenities F, commute F.
• City Of Monroe School District (urban): math 21% / reading 31% proficiency, ranked #60 of 98 in LA (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: J.S. Clark Magnet Elementary School (math 41% / reading 52%, grade D-, #159 of 646 statewide, top 25%, 462 students, 66% FRL); Carroll Junior High School (math 4% / reading 18%, grade F, #195 of 218 statewide, top 90%, 335 students, 88% FRL); Carroll High School (math 8% / reading 17%, grade F, #230 of 265 statewide, top 88%, 609 students, 84% FRL) — zoned schools at 79% FRL track the district average.
• Market conditions: 440 active listings in the ZIP; 345 units permitted in Ouachita Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $649 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $120,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.35% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.09%
• DSCR: 1.89
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $93,873
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 N Mcguire Ave	0.50mi	3/2.0 (+1)	1,100 (+2%)	7mo	$120,000	$109	59
502 Darbonne St	0.29mi	3/1.0 (+1)	1,150 (+7%)	16mo	$97,000	$84	57
303 Columbia Ave	0.41mi	3/1.5 (+1)	1,202 (+11%)	2mo	$36,000	$30	54
3404 Grammont St	0.56mi	2/1.0	921 (-15%)	2mo	$80,000	$87	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.49×
• Total profit: $12,774
• Equity at exit: $13,997

10-year hold

• IRR: 21.1%
• Equity multiple: 2.79×
• Total profit: $47,057
• Equity at exit: $8,116

Cash invested: $26,284 (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 71203

• Home prices YoY: -32.4%
• Active inventory: 440
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$492
• Tax from tax record: −$26 /mo · $315/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $440

Break-even live

Break-even rent $706

Max offer price $93,873

Occupancy floor 60%

Sensitivity live

Price	-10% $493	-5% $467	+0% $440	+5% $413	+10% $387
Rent	-10% $340	-5% $390	+0% $440	+5% $490	+10% $540
Rate	-1.0pp $487	-0.5pp $464	base $440	+0.5pp $416	+1.0pp $391

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: $23,468
• Closing costs: $2,816
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $120,000 Active 9 DOM
2. 2026-06-19
   days on market $120,000 Active 7 DOM
3. 2026-06-18
   days on market $120,000 Active 6 DOM
4. 2026-06-17
   days on market $120,000 Active 5 DOM
5. 2026-06-16
   days on market $120,000 Active 4 DOM
6. 2026-06-15
   days on market $120,000 Active 3 DOM
7. 2026-06-13
   remarks 530-char remark
8. 2026-06-13
   listed $120,000 Active 1 DOM

ⓘ 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: $315 · $26/mo
• Projected year-2 tax: $660 · $55/mo
• Expected delta: +$345/yr (+$29/mo · 109.7%)

ⓘ 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 ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $15,153
• − Mortgage interest: −$5,258
• − Property taxes: −$315
• − Insurance: −$469
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$2,731
• Taxable income: $3,956
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $4,330/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: City Of Monroe School District
• NCES district ID: 2201080
• Math proficiency: 21% ▼ -36.00%
• Reading proficiency: 31% ▼ -34.00%
• Median HH income: $28,751
• Composite: 20.82/100
• National rank: #8505
• State rank: #60 of 98 in LA

Livability — Monroe

• Score: 66/100
• State rank: #128
• US rank: #11948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, LA
• County: Ouachita Parish · 118,340 people
• Metro: Monroe, LA
• Population (ZIP): 38,354
• Household income: $52,326
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 2085.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 48% White 45% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 3% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -99.01%
• Current HPI: 206.1948
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-12 Listed $120,000 NELABOR

Property tax history

-0.1%/yr

Latest (2025): $315 · -0.1% YoY. Source: county tax records.