3024 Red Hat Rd · Addis, LA 70719

$228,000

3 bd · 2.0 ba · 1,319 sqft · SingleFamily · 84 Days on market

Built 2019 0.56 ac lot $173/sqft · at area comps Est $219k · at est.

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Why this score? — see what drove the D 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 +15.8/30.0
• ARV discount +5.6/15.0
• DSCR +4.9/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room--talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you're looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

Key facts

• Wired with alexa
• Brand new roof
• 0.56 acre lot

Tags

• BRAND NEW ROOF
• MASTER CLOSET LAUNDRY ROOM
• WIRED WITH ALEXA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $194k (14.8% below list).
• Recommended offer: $194k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.6% in Addis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 64/100 on livability (#161 in LA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools F, amenities F, commute F.
• West Baton Rouge Parish (suburban): math 27% / reading 40% proficiency, ranked #35 of 98 in LA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 32 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 144 units permitted in West Baton Rouge Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• West Baton Rouge County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y 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 $182k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $194,357 (14.8% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

• ARV (median comp): $218,606
• List price: $228,000
• Delta: 4.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3322 Red Hat Rd	0.16mi	3/2.0	1,319 (0%)	24mo	$219,000	$166	73
3561 Lukeville Ln	0.67mi	3/2.0	1,319 (0%)	4mo	$155,000	$118	66

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: -13.2%
• Equity multiple: 0.53×
• Total profit: $-30,251
• Equity at exit: $33,996

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-17,890
• Equity at exit: $19,713

Cash invested: $63,840 (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 70719

• Home prices YoY: -31.6%
• Active inventory: 32
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,944 medium
• Mortgage (P&I): −$1,196
• Tax from tax record: −$139 /mo · $1,664/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $106

Break-even live

Break-even rent $1,809

Max offer price $228,000

Occupancy floor 90%

Sensitivity live

Price	-10% $235	-5% $171	+0% $106	+5% $42	+10% $-23
Rent	-10% $-47	-5% $29	+0% $106	+5% $183	+10% $260
Rate	-1.0pp $221	-0.5pp $164	base $106	+0.5pp $47	+1.0pp $-13

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3476 Sweetwater Blvd Addis, LA	1.0–3.0	1.0–2.0	1095	$1,886	$1.72	16d	31	0.60mi
205 River Mill Dr Brusly, LA	3.0	2.0	1393	$2,150	$1.54	16d	1	0.87mi
6795 Belle Vale Dr Addis, LA	1.0–2.0	1.0–2.0	893	$1,488	$1.67	15d	20	0.88mi
4414 Olivia Dr Addis, LA	3.0	2.0	1642	$2,300	$1.40	25d	1	1.39mi

Listing history 26 events

1. 2026-05-11
   price $228,000 817-char remark

   Show marketing remark (828 chars)

   Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room—talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you’re looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

2. 2026-05-11
   price $228,000 828-char remark

   Show marketing remark (828 chars)

   Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room—talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you’re looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

3. 2026-04-06
   price $230,000 817-char remark

   Show marketing remark (828 chars)

   Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room—talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you’re looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

4. 2026-04-06
   price $230,000 828-char remark

   Show marketing remark (828 chars)

   Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room—talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you’re looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

5. 2026-03-02
   listed $235,000 Active 828-char remark

   Show marketing remark (817 chars)

   Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room--talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you're looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

6. 2026-03-02
   listed $235,000 Active 817-char remark

   Show marketing remark (817 chars)

   Imagine waking up in your charming 3-bedroom, 2-bath home nestled on nearly half an acre of serene space. Picture cozy family nights, laughter echoing through the open living spaces, and effortless entertaining with friends. With a brand-new roof from 2023, you can feel secure and ready for any adventure. One of the unique features of this home is the master closet leading right into the laundry room--talk about convenience! No more hauling clothes through the house; simply drop them off as you go about your day. Plus, the entire home is wired with Alexa, making it easy to control your environment with just your voice. Whether you're looking for a place to grow your family or just a cozy retreat to call your own, this home is ready for you. This home has never flooded, and does not require flood insurance.

7. 2024-11-16
   historical
8. 2024-11-13
   status Active
9. 2024-10-14
   status Pending
10. 2024-10-12
    listed $225,000 Active
11. 2024-10-12
    listed $225,000 Active
12. 2021-04-16
    soldstatus $182,000
13. 2021-04-15
    soldstatus Sold
14. 2021-02-10
    status Pending
15. 2021-01-29
    price $182,000
16. 2021-01-24
    price $183,000
17. 2021-01-23
    price $183,500
18. 2021-01-20
    price $183,900
19. 2021-01-08
    listed $184,900 Active
20. 2021-01-08
    listed $182,000
21. 2020-03-13
    soldstatus Sold
22. 2020-01-22
    status Pending
23. 2019-12-13
    status Active
24. 2019-10-15
    status Pending
25. 2019-09-16
    listed $165,900 Active
26. 2019-09-16
    listed $165,900

ⓘ 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: $1,664 · $139/mo
• Projected year-2 tax: $1,664 · $139/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,323
• − Mortgage interest: −$12,772
• − Property taxes: −$1,664
• − Insurance: −$1,140
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − Depreciation: −$6,633
• Taxable loss: −$2,618
• Est. tax savings @ 24.0%: +$628
• After-tax cash flow: $1,901/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: West Baton Rouge Parish
• NCES district ID: 2201920
• Math proficiency: 27% ▼ -39.00%
• Reading proficiency: 40% ▼ -36.00%
• Median HH income: $52,141
• Composite: 29.26/100
• National rank: #6562
• State rank: #35 of 98 in LA

Livability — Addis

• Score: 64/100
• State rank: #161
• US rank: #13783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,252
• Population (ZIP): 4,317

Population outlook (West Baton Rouge County) Hauer SSP2

• Today (2025): 28,932 people
• By 2030: 30,562 · +5.6%
• By 2040: 33,604 · +16.1%
• By 2050: 36,324 · +25.5%
• By 2075: 42,619 · +47.3%
• By 2100: 45,321 · +56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 27% Hispanic / Latino 12% Two or more races 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 10% Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · West Baton Rouge

• 2024 margin: R (+11.7) · D 43.4% · R 55.1% · Other 1.4%
• 2008→2024 swing: +1.9pp toward D · 2008: -13.6pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+10.5 2016: R+12.2 2012: R+9.6 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.35%
• Current HPI: 167.6235
• 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

+37.4% since first listed

26 events — show timeline

• 2026-05-11 Price Changed $228,000 AcadianaMLS
• 2026-05-11 Price Changed $228,000 GBRMLS
• 2026-04-06 Price Changed $230,000 AcadianaMLS
• 2026-04-06 Price Changed $230,000 GBRMLS
• 2026-03-02 Listed $235,000 GBRMLS
• 2026-03-02 Listed $235,000 AcadianaMLS
• 2024-11-16 Delisted — GBRMLS
• 2024-11-13 Relisted — GBRMLS
• 2024-10-14 Pending — GBRMLS
• 2024-10-12 Listed $225,000 GBRMLS
• 2024-10-12 Listed $225,000 AcadianaMLS
• 2021-04-16 Sold (Public Records) $182,000 Public Records
• 2021-04-15 Sold (MLS) — GBRMLS
• 2021-02-10 Pending — GBRMLS
• 2021-01-29 Price Changed $182,000 GBRMLS
• 2021-01-24 Price Changed $183,000 GBRMLS
• 2021-01-23 Price Changed $183,500 GBRMLS
• 2021-01-20 Price Changed $183,900 GBRMLS
• 2021-01-08 Listed $182,000 AcadianaMLS
• 2021-01-08 Listed $184,900 GBRMLS
• 2020-03-13 Sold (MLS) — GBRMLS
• 2020-01-22 Pending — GBRMLS
• 2019-12-13 Relisted — GBRMLS
• 2019-10-15 Pending — GBRMLS
• 2019-09-16 Listed $165,900 AcadianaMLS
• 2019-09-16 Listed $165,900 GBRMLS

Property tax history

+36.9%/yr

Latest (2025): $1,664 · +2.0% YoY. Source: county tax records.