605 W 4th St · Homer, LA 71040

$64,900

2 bd · 2.0 ba · 1,250 sqft · SingleFamily · 39 Days on market

Built 1965 9,757 sqft lot $52/sqft · 16% above area Est $56k · 16% over ↓ 6% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 2 bath ranch home in center of small rural town.

Key facts

• 9,757 sq ft lot
• Parking
• Built 1965

Property features AI

Finance

• Other: County: Claiborne; Country: United States; Geocode confidence: High
• Financial info: Treat as clear loan type; No second mortgage; Special listing condition: Real Estate Owned
• HOA & community: No association

Exterior

• Parking: Attached carport; 1 carport space (covered)
• Utilities: Asphalt utilities; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1965; Entry level: One
• Construction: Year built 1965; Preowned
• Exterior features: Lot less than 0.5 acre (approximately 0.224 acres); Subdivision: Rural

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: One-level layout; Living area of 1250
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#149 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Claiborne Parish (rural): math 13% / reading 19% proficiency, ranked #77 of 98 in LA (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 34 active listings in the ZIP; 3 units permitted in Claiborne Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Claiborne County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% 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 $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.28%
• DSCR: 2.12
• GRM: 5.3

CMA / ARV

• ARV (median comp): $55,720
• List price: $64,900
• Delta: 16.48%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 W 4th St	0.02mi	3/2.0 (+1)	1,200 (-4%)	10mo	$83,000	$69	79
522 Torbet Dr	0.54mi	3/2.0 (+1)	1,222 (-2%)	13mo	$49,900	$41	55
134 Willow St	0.62mi	3/2.0 (+1)	1,186 (-5%)	8mo	$65,000	$55	51
105 Wall St	0.49mi	3/1.5 (+1)	1,289 (+3%)	17mo	$109,500	$85	50
116 Willow St	0.59mi	2/1.0	1,245 (-0%)	22mo	$75,000	$60	50
242 Bolling Dr	0.63mi	2/1.0	1,123 (-10%)	11mo	$59,900	$53	40
229 Bolling Dr	0.69mi	3/2.0 (+1)	1,400 (+12%)	20mo	$109,500	$78	26

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: 18.8%
• Equity multiple: 1.76×
• Total profit: $13,864
• Equity at exit: $9,677

10-year hold

• IRR: 27.2%
• Equity multiple: 3.39×
• Total profit: $43,466
• Equity at exit: $5,611

Cash invested: $18,172 (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 71040

• Active inventory: 34
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$55 /mo · $665/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $383

Break-even live

Break-even rent $535

Max offer price $64,900

Occupancy floor 57%

Sensitivity live

Price	-10% $420	-5% $401	+0% $383	+5% $364	+10% $346
Rent	-10% $302	-5% $343	+0% $383	+5% $423	+10% $463
Rate	-1.0pp $415	-0.5pp $399	base $383	+0.5pp $366	+1.0pp $349

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $64,900 Active 39 DOM
2. 2026-06-21
   days on market $64,900 Active 38 DOM
3. 2026-06-18
   days on market $64,900 Active 36 DOM
4. 2026-06-17
   days on market $64,900 Active 35 DOM
5. 2026-06-16
   days on market $64,900 Active 34 DOM
6. 2026-06-15
   days on market $64,900 Active 33 DOM
7. 2026-06-13
   days on market $64,900 Active 31 DOM
8. 2026-06-12
   pricedays on market $64,900 Active 30 DOM
9. 2026-06-09
   days on market $74,900 Active 27 DOM
10. 2026-06-08
    days on market $74,900 Active 26 DOM
11. 2026-06-07
    days on market $74,900 Active 25 DOM
12. 2026-06-07
    days on market $74,900 Active 24 DOM
13. 2026-06-04
    days on market $74,900 Active 21 DOM
14. 2026-06-02
    days on market $74,900 Active 20 DOM
15. 2026-06-01
    days on market $74,900 Active 19 DOM
16. 2026-05-31
    days on market $74,900 Active 18 DOM
17. 2026-05-31
    days on market $74,900 Active 17 DOM
18. 2026-05-12
    listed $74,900 Active 175-char remark
19. 2024-01-05
    soldstatus Closed 58-char remark

    Show marketing remark (58 chars)

    3 bedroom 2 bath ranch home in center of small rural town.

20. 2023-12-06
    status Pending 58-char remark

    Show marketing remark (58 chars)

    3 bedroom 2 bath ranch home in center of small rural town.

21. 2023-11-13
    listed $84,900 Active 58-char remark

    Show marketing remark (58 chars)

    3 bedroom 2 bath ranch home in center of small rural town.

22. 2006-03-20
    soldstatus $69,000

ⓘ 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: $665 · $55/mo
• Projected year-2 tax: $665 · $55/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 ≥112°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $12,237
• − Mortgage interest: −$3,635
• − Property taxes: −$665
• − Insurance: −$324
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$1,888
• Taxable income: $3,766
• Est. tax owed @ 24.0%: −$904
• After-tax cash flow: $3,690/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: Claiborne Parish
• NCES district ID: 2200450
• Math proficiency: 13% ▼ -28.00%
• Reading proficiency: 19% ▼ -33.00%
• Median HH income: $30,278
• Composite: 12.69/100
• National rank: #9605
• State rank: #77 of 98 in LA

Livability — Homer

• Score: 65/100
• State rank: #149
• US rank: #12849

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homer, LA
• Population (ZIP): 7,705

Population outlook (Claiborne County) Hauer SSP2

• Today (2025): 14,937 people
• By 2030: 14,189 · -5.0%
• By 2040: 12,747 · -14.7%
• By 2050: 11,524 · -22.8%
• By 2075: 9,198 · -38.4%
• By 2100: 7,310 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (52%)
• Race & ethnicity: Black 52% White 43% Two or more races 4%
• Common ancestry: British 2% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Claiborne

• 2024 margin: Strong R (+22.1) · D 38.5% · R 60.6%
• 2008→2024 swing: -11.5pp toward R · 2008: -10.6pp · 2024: -22.1pp
• All cycles: 2024: R+22.1 2020: R+15.8 2016: R+13.5 2012: R+9.4 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.83%
• Current HPI: 44.1535
• 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

-5.9% since first listed

6 events — show timeline

• 2026-06-10 Price Changed $64,900 NTREIS
• 2026-05-12 Listed $74,900 NTREIS
• 2024-01-05 Sold (MLS) — NELABOR
• 2023-12-06 Pending — NELABOR
• 2023-11-13 Listed $84,900 NELABOR
• 2006-03-20 Sold (Public Records) $69,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $665 · +0.5% YoY. Source: county tax records.