513 Nichols Dr · West Monroe, LA 71291

$160,000

3 bd · 1.0 ba · 1,149 sqft · SingleFamily public records · 117 Days on market

Built 1965 Est $175k · 8% under

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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 +23.2/30.0
• ARV discount +11.3/15.0
• DSCR +7.5/10.0
• 1% rule +5.1/10.0
• Rent growth +4.7/5.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom house is conveniently located to grocery stores, pharmacies, retail stores, hospital and main thoroughfares. You will find it located directly across the street from Kiroli Elementary and in walking distant to Kiroli Park! Priced to sell and won't last long! Let's put your name on it before it's too late.

Key facts

• Large backyard
• Storage shed
• Garage

Tags

• BUTCHER BLOCK COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE BACKYARD
• STORAGE SHED

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: One garage space; Carport
• Utilities: Public water; Public sewer; Natural gas available and connected
• Home design: Single-family residence (site built); One level; Entry level: 1
• Construction: Brick veneer construction; Asphalt roof; Slab foundation; Built as a residential single family home
• Exterior features: Chain link fencing; Shed(s); Landscaped, cleared yard

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan cooling
• Interior features: Ceiling fans; Window blinds
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.5% in West 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 70/100 on livability (#53 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, commute F, employment F.
• Ouachita Parish (suburban): math 31% / reading 45% proficiency, ranked #26 of 98 in LA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Ridge Middle School (math 52% / reading 65%, grade B, #13 of 218 statewide, top 6%, 635 students, 47% FRL); West Monroe High School (math 32% / reading 48%, grade F, #77 of 265 statewide, top 29%, 2,189 students, 58% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising fast (+8.9%/yr); 199 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask is 10567% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $115k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.77%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $174,648
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Nichols Dr	0.19mi	3/2.0	1,102 (-4%)	6mo	$168,000	$152	75
602 Nichols Pl	0.29mi	3/2.0	1,280 (+11%)	3mo	$212,500	$166	61
702 Kiroli Rd	0.18mi	3/2.0	1,295 (+13%)	14mo	$218,000	$168	55
111 Lisa Ln	0.53mi	3/1.5	1,199 (+4%)	17mo	$155,000	$129	52
405 Good Hope Rd	0.62mi	3/2.0	1,265 (+10%)	12mo	$173,000	$137	40
106 Rogers Rd	0.72mi	2/1.0 (-1)	1,006 (-12%)	11mo	$135,000	$134	32
128 Tuscany Cir	0.72mi	2/2.0 (-1)	1,288 (+12%)	9mo	$202,000	$157	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,008
• Equity at exit: $23,857

10-year hold

• IRR: 14.4%
• Equity multiple: 2.41×
• Total profit: $63,224
• Equity at exit: $13,834

Cash invested: $44,800 (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 71291

• Home prices YoY: -30.2%
• Rents YoY: 8.9%
• Active inventory: 199
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,612 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$78 /mo · $934/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $290

Break-even live

Break-even rent $1,245

Max offer price $160,000

Occupancy floor 77%

Sensitivity live

Price	-10% $381	-5% $335	+0% $290	+5% $245	+10% $199
Rent	-10% $163	-5% $226	+0% $290	+5% $354	+10% $417
Rate	-1.0pp $371	-0.5pp $331	base $290	+0.5pp $248	+1.0pp $206

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 Fairlane Dr Unit 8 West Monroe, LA	2.0	2.0	1050	$1,600	$1.52	22d	1	0.98mi
1114 Otis St West Monroe, LA	3.0	2.0	1304	$1,595	$1.22	44d	1	1.16mi
2417 N 9th St West Monroe, LA	2.0	1.0	900	$2,000	$2.22	44d	1	1.33mi
202 Gross St West Monroe, LA	3.0	1.0	1100	$1,350	$1.23	44d	1	1.37mi

Listing history 34 events

1. 2026-06-19
   days on market $160,000 Active 117 DOM
2. 2026-06-18
   days on market $160,000 Active 116 DOM
3. 2026-06-17
   days on market $160,000 Active 115 DOM
4. 2026-06-16
   days on market $160,000 Active 114 DOM
5. 2026-06-15
   days on market $160,000 Active 113 DOM
6. 2026-06-14
   days on market $160,000 Active 111 DOM
7. 2026-06-13
   days on market $160,000 Active 110 DOM
8. 2026-06-10
   days on market $160,000 Active 108 DOM
9. 2026-06-09
   days on market $160,000 Active 107 DOM
10. 2026-06-08
    days on market $160,000 Active 106 DOM
11. 2026-06-07
    days on market $160,000 Active 105 DOM
12. 2026-06-03
    days on market $160,000 Active 101 DOM
13. 2026-06-02
    days on market $160,000 Active 100 DOM
14. 2026-06-01
    days on market $160,000 Active 99 DOM
15. 2026-05-31
    days on market $160,000 Active 98 DOM
16. 2026-05-30
    days on market $160,000 Active 97 DOM
17. 2026-05-22
    status Active
18. 2026-05-22
    price $160,000
19. 2026-04-29
    listed $1,500
20. 2026-04-28
    historical $1,500
21. 2026-04-23
    listed $1,500
22. 2025-11-28
    price $156,999
23. 2025-10-31
    price $159,000
24. 2025-10-17
    listed $160,000 Active
25. 2024-06-24
    historical $1,400
26. 2024-05-11
    price $1,400
27. 2024-04-23
    listed $1,450
28. 2024-01-14
    historical $1,550
29. 2023-12-19
    listed $1,550
30. 2023-12-01
    soldstatus Closed 323-char remark

    Show marketing remark (323 chars)

    This 3 bedroom house is conveniently located to grocery stores, pharmacies, retail stores, hospital and main thoroughfares. You will find it located directly across the street from Kiroli Elementary and in walking distant to Kiroli Park! Priced to sell and won't last long! Let's put your name on it before it's too late.

31. 2023-12-01
    soldstatus $115,000

    Show marketing remark (323 chars)

    This 3 bedroom house is conveniently located to grocery stores, pharmacies, retail stores, hospital and main thoroughfares. You will find it located directly across the street from Kiroli Elementary and in walking distant to Kiroli Park! Priced to sell and won't last long! Let's put your name on it before it's too late.

32. 2023-10-26
    status Pending 323-char remark

    Show marketing remark (323 chars)

    This 3 bedroom house is conveniently located to grocery stores, pharmacies, retail stores, hospital and main thoroughfares. You will find it located directly across the street from Kiroli Elementary and in walking distant to Kiroli Park! Priced to sell and won't last long! Let's put your name on it before it's too late.

33. 2023-10-26
    price $125,000 323-char remark

    Show marketing remark (323 chars)

    This 3 bedroom house is conveniently located to grocery stores, pharmacies, retail stores, hospital and main thoroughfares. You will find it located directly across the street from Kiroli Elementary and in walking distant to Kiroli Park! Priced to sell and won't last long! Let's put your name on it before it's too late.

34. 2023-09-20
    listed $135,000 Active 323-char remark

    Show marketing remark (323 chars)

    This 3 bedroom house is conveniently located to grocery stores, pharmacies, retail stores, hospital and main thoroughfares. You will find it located directly across the street from Kiroli Elementary and in walking distant to Kiroli Park! Priced to sell and won't last long! Let's put your name on it before it's too late.

ⓘ 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: $934 · $78/mo
• Projected year-2 tax: $934 · $78/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°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: $19,344
• − Mortgage interest: −$8,962
• − Property taxes: −$934
• − Insurance: −$800
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − Depreciation: −$4,655
• Taxable income: $898
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $3,264/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: Ouachita Parish
• NCES district ID: 2201200
• Math proficiency: 31% ▼ -38.00%
• Reading proficiency: 45% ▼ -31.00%
• Median HH income: $43,316
• Composite: 32.14/100
• National rank: #5791
• State rank: #26 of 98 in LA

Livability — West Monroe

• Score: 70/100
• State rank: #53
• US rank: #7498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ouachita Parish · 118,340 people
• City population: 58,204
• Metro: Monroe, LA
• Population (ZIP): 35,269
• Household income: $71,639
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 847.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 13% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▼ -95.15%
• Current HPI: 220.1737
• Rent YoY: ▲ 8.93%
• 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

+18.5% since first listed

18 events — show timeline

• 2026-05-22 Relisted — NELABOR
• 2026-05-22 Price Changed $160,000 NELABOR
• 2026-04-29 Listed for Rent $1,500 TURBOTENANT
• 2026-04-28 Rental Removed $1,500 TURBOTENANT
• 2026-04-23 Listed for Rent $1,500 TURBOTENANT
• 2025-11-28 Price Changed $156,999 NELABOR
• 2025-10-31 Price Changed $159,000 NELABOR
• 2025-10-17 Listed $160,000 NELABOR
• 2024-06-24 Rental Removed $1,400 TURBOTENANT
• 2024-05-11 Price Changed $1,400 TURBOTENANT
• 2024-04-23 Listed for Rent $1,450 TURBOTENANT
• 2024-01-14 Rental Removed $1,550 TURBOTENANT
• 2023-12-19 Listed for Rent $1,550 TURBOTENANT
• 2023-12-01 Sold (Public Records) $115,000 Public Records
• 2023-12-01 Sold (MLS) — NELABOR
• 2023-10-26 Pending — NELABOR
• 2023-10-26 Price Changed $125,000 NELABOR
• 2023-09-20 Listed $135,000 NELABOR

Property tax history

+3.4%/yr

Latest (2025): $934 · -1.2% YoY. Source: county tax records.