605 Kelly St · Bossier City, LA 71111

$30,000

2 bd · 1.0 ba · 900 sqft · MultiFamily · 49 Days on market

Built 1980 Fair condition 4,000 sqft lot $33/sqft · 56% below area

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Why this score? — see what drove the B 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
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• 4,000 sq ft lot
• Built 1980
• Listed 49 days

Property features AI

Finance

• Other: Listing is active and for sale; Located in Bossier County, United States
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: On-street parking
• Utilities: City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1980; Not attached to another unit
• Construction: Year built 1980
• Exterior features: Lot in the Cumberland subdivision; Approximately 4,000 sq ft lot

Interior

• Kitchen: Electric cooktop
• Bedrooms: 2 bedrooms (primary bedroom on level 1)
• Bathrooms: 1 full bathroom
• Interior features: Eat-in kitchen; One level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $30k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 31.1% vs local median 4.7% in Bossier City — 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 71/100 on livability (#47 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Bossier Parish (urban): math 40% / reading 47% proficiency, ranked #17 of 98 in LA (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 421 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 716 units permitted in Bossier Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Bossier County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.49% ✓
• Cap rate: 31.08%
• Cash-on-cash: 88.52%
• DSCR: 4.94
• GRM: 2.4

CMA / ARV

• ARV (median comp): $68,830
• List price: $30,000
• Delta: -56.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Wyche St	0.27mi	2/1.0	837 (-7%)	13mo	$93,000	$111	65

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 · 6.56% rent growth · sell at horizon

5-year hold

• IRR: 93.1%
• Equity multiple: 5.58×
• Total profit: $38,501
• Equity at exit: $4,473

10-year hold

• IRR: 96.7%
• Equity multiple: 13.09×
• Total profit: $101,552
• Equity at exit: $2,594

Cash invested: $8,400 (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 71111

• Home prices YoY: -34.8%
• Rents YoY: 6.6%
• Active inventory: 421
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,047 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $620

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 36%

Sensitivity live

Price	-10% $640	-5% $630	+0% $620	+5% $609	+10% $599
Rent	-10% $537	-5% $578	+0% $620	+5% $661	+10% $702
Rate	-1.0pp $635	-0.5pp $627	base $620	+0.5pp $612	+1.0pp $604

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Edwards St Bossier City, LA	2.0	1.0	676	$750	$1.11	44d	1	0.28mi
213 Kelly St Bossier City, LA	2.0	1.0	598	$1,300	$2.17	14d	1	0.29mi
309 Edwards St Bossier City, LA	3.0	1.0	804	$815	$1.01	21d	1	0.30mi
301 Edwards St Bossier City, LA	2.0	1.0	900	$1,175	$1.31	21d	1	0.31mi
420 Wyche St Bossier City, LA	1.0	1.0	800	$500	$0.62	44d	1	0.31mi
1820 E Texas St Bossier City, LA	2.0	1.0	750	$850	$1.13	44d	1	0.44mi
1225 Delhi St Bossier City, LA	3.0	1.0	1092	$800	$0.73	21d	1	1.00mi
1525 Debra St Bossier City, LA	3.0	1.0	1033	$975	$0.94	21d	1	1.26mi
100 Crossroads Blvd Bossier City, LA	1.0–2.0	1.0–2.0	858	$1,299	$1.51	44d	1	1.37mi
719 Edwards St Shreveport, LA	1.0–2.0	1.0	810	$1,275	$1.57	21d	7	1.37mi
400 Preston Blvd Bossier City, LA	1.0	1.0	706	$870	$1.23	44d	1	1.40mi

Listing history 24 events

1. 2026-06-18
   days on market $30,000 Active 49 DOM
2. 2026-06-17
   days on market $30,000 Active 48 DOM
3. 2026-06-16
   days on market $30,000 Active 47 DOM
4. 2026-06-15
   days on market $30,000 Active 46 DOM
5. 2026-06-14
   days on market $30,000 Active 44 DOM
6. 2026-06-13
   days on market $30,000 Active 43 DOM
7. 2026-06-10
   days on market $30,000 Active 41 DOM
8. 2026-06-09
   days on market $30,000 Active 40 DOM
9. 2026-06-08
   days on market $30,000 Active 39 DOM
10. 2026-06-07
    days on market $30,000 Active 38 DOM
11. 2026-06-02
    days on market $30,000 Active 33 DOM
12. 2026-06-01
    days on market $30,000 Active 32 DOM
13. 2026-05-31
    days on market $30,000 Active 31 DOM
14. 2026-05-30
    days on market $30,000 Active 30 DOM
15. 2026-04-30
    listed $30,000 Active 763-char remark
16. 2025-10-06
    historical $750
17. 2025-10-04
    listed $750
18. 2024-07-18
    historical $750
19. 2024-06-30
    listed $750
20. 2023-12-08
    historical $650
21. 2023-11-18
    price $650
22. 2023-10-11
    price $750
23. 2023-09-18
    price $825
24. 2023-09-07
    listed $850

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,561
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$873
• Taxable income: $7,398
• Est. tax owed @ 24.0%: −$1,776
• After-tax cash flow: $5,660/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.

Condition & rehab AI · 5 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to bring it up to a fair condition, with a focus on completing the kitchen and bathroom installations. Landscaping and fencing repairs are also needed to enhance curb appeal and safety.

Repairs flagged

• Minor Kitchen cabinets — Appliances not fully installed
• Major Bathroom fixtures — Bathtub and shower installed but not fully functional
• Major Exterior fencing — Structurally compromised and overgrown

Value-add opportunities

• Both Complete kitchen setup — Fully functional kitchen boosts both resale and rental value
• Both Complete bathroom fixtures — Fully functional bathroom boosts both resale and rental value
• Both Landscaping and fencing repair — Improved curb appeal and safety boosts both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Appliances not fully installed	Minor	$500–3,000
Bathroom fixtures · Bathtub and shower installed but not fully functional	Major	$15,000–50,000
Exterior fencing · Structurally compromised and overgrown	Major	$15,000–50,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Complete kitchen setup — Fully functional kitchen boosts both resale and rental value ↑
• Both Complete bathroom fixtures — Fully functional bathroom boosts both resale and rental value ↑
• Both Landscaping and fencing repair — Improved curb appeal and safety boosts both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bossier Parish
• NCES district ID: 2200270
• Math proficiency: 40% ▼ -32.00%
• Reading proficiency: 47% ▼ -28.00%
• Median HH income: $51,326
• Composite: 37.5/100
• National rank: #4402
• State rank: #17 of 98 in LA

Livability — Bossier City

• Score: 71/100
• State rank: #47
• US rank: #7044

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bossier City, LA
• County: Bossier Parish · 98,704 people
• City population: 91,925
• Metro: Shreveport-Bossier City, LA
• Population (ZIP): 43,925
• Household income: $65,292
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1942.0

Population outlook (Bossier County) Hauer SSP2

• Today (2025): 143,247 people
• By 2030: 151,802 · +6.0%
• By 2040: 168,194 · +17.4%
• By 2050: 183,533 · +28.1%
• By 2075: 217,009 · +51.5%
• By 2100: 230,091 · +60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Black 29% Hispanic / Latino 9% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Iranian 1% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 7% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Bossier

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.3%
• 2008→2024 swing: +0.3pp no change · 2008: -43.7pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.0 2016: R+45.8 2012: R+45.4 2008: R+43.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.78%
• Current HPI: 149.4336
• Rent YoY: ▲ 6.56%
• Metro: Shreveport-Bossier City, 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

10 events — show timeline

• 2026-04-30 Listed $30,000 NTREIS
• 2025-10-06 Rental Removed $750 APPFOLIO
• 2025-10-04 Listed for Rent $750 APPFOLIO
• 2024-07-18 Rental Removed $750 APPFOLIO
• 2024-06-30 Listed for Rent $750 APPFOLIO
• 2023-12-08 Rental Removed $650 APPFOLIO
• 2023-11-18 Price Changed $650 APPFOLIO
• 2023-10-11 Price Changed $750 APPFOLIO
• 2023-09-18 Price Changed $825 APPFOLIO
• 2023-09-07 Listed for Rent $850 APPFOLIO