678 Gloria Dr

Baton Rouge, LA 70819

$929,900C

None bd · None ba · 11,914 sqft · Built — · MultiFamily · Active · 202 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,344/mo
• Mortgage (P&I): −$4,876
• Tax + insurance: −$1,550
• HOA: −$0
• Vac / Maint / Mgmt: −$2,172
• Net cashflow: $1,745/mo
• Annual: $20,945/yr
• Cap rate: 8.55%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $260,372

Investor read

• This is a 5 × 2-bed/?-bath units multifamily listed at $930k. Condition is rated good.
• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $349/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $930k).
• It's been on market 202 days — a 12% lower offer ($818k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $818k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#24 in LA, #4,535 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: amenities D, crime F, employment D-.
• East Baton Rouge Parish (urban): math 22% / reading 34% proficiency, ranked #47 of 98 in LA (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Riveroaks Elementary School (math 13% / reading 23%, grade F, #472 of 646 statewide, top 74%, 591 students, 72% FRL); Southeast Middle School (math 7% / reading 18%, grade F, #191 of 218 statewide, top 88%, 994 students, 77% FRL); Liberty High School (math 50% / reading 74%, grade B-, #15 of 265 statewide, top 6%, 1,208 students, 60% FRL).
• Market conditions: 34 active listings in the ZIP; 2,252 units permitted in East Baton Rouge Parish in 2024 (440 in 5+ unit buildings).
• East Baton Rouge County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $199k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 99% 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.
• Cap rate 8.5% vs local median 4.2% in Baton Rouge — 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.

Questions for listing agent

• It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Driveway — Cracks in the concrete driveway need filling.
• Minor: Landscaping — Overgrown areas and some dead grass need trimming and reseeding.