6209 Southern Ave, Shreveport, LA 71106

Property Description

Tenant-occupied, income-producing Shreveport rental offered at $60,000. This 2-bedroom, 1-bath home is currently rented for $800 per month, producing gross rental income of $9,600 annually. Owner-reported property taxes and insurance total approximately $1,415 annually. Including a pro forma $75 monthly management allowance, estimated recurring expenses are $2,315 annually, producing estimated NOI of $7,285 and a 12.14% cap rate at the asking price, before vacancy, repairs, capital expenditures and reserves. The long-term tenant has reportedly occupied the property for at least three years, and the current tenancy includes documented housing-assistance support. Continued program participation and payments are subject to program approval and buyer compliance. Built in 1985, the property contains approximately 1,218 square feet. Seller reports the home was completely remodeled before tenant placement, with improvements including electrical, plumbing, water heater and roof, which may reduce near-term deferred-maintenance risk. Please do not disturb the tenant. Showings must be scheduled through the listing agent. Financial information is provided by the owner and should be independently verified by the buyer