608 Vine St

Shreveport, LA 71101

$69,000B-

2 bd · 1.0 ba · 1,768 sqft · Built 1940 · SingleFamily · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $921/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$193
• Net cashflow: $279/mo
• Annual: $3,343/yr
• Cap rate: 11.14%
• Cash-on-cash: 17.30%
• DSCR: 1.77
• 1% rule: 1.34%
• Cash to close: $19,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $69k.
• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($921 rent vs $69k).
• It's been on market 80 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• In year one you build about $269 of equity ($477 loan paydown + $-208 appreciation (-0.3% local appreciation)).
• Location reads 59/100 on livability (#270 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Caddo Parish (urban): math 21% / reading 32% proficiency, ranked #53 of 98 in LA (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: J. S. Clark Elementary School (math 8% / reading 15%, grade F, #577 of 646 statewide, top 90%, 447 students, 91% FRL); Caddo Parish Middle Magnet School (math 79% / reading 93%, grade A+, #1 of 218 statewide, top 0%, 1,003 students, 23% FRL); Booker T. Washington New Technology High School (math 3% / reading 8%, grade F, #259 of 265 statewide, top 98%, 786 students, 83% FRL) — zoned schools at 66% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 62 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 221 units permitted in Caddo Parish in 2024 (0 in 5+ unit buildings).
• Caddo County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $20k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.1% vs local median 5.6% in Shreveport — 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.
• At $921/mo this rent would consume 57% of the median local household income ($19k/yr) (locally 702% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.