2445 Rue Weller St · Mandeville, LA 70448

$224,900

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 64 Days on market

Built 1986 8,642 sqft lot $178/sqft · 18% below area Est $280k · 20% 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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Roof is on the way! Vacant - please schedule through showing time & go & show. Well maintained 3/2. Updated kitchen and paint. New counter tops. newer appliances. Septic is 2 years old. No carpet. Nice deck off kitchen/dining area. Wood burning fireplace.

Key facts

• New counter tops
• Nice deck
• Newer appliances

Tags

• UPDATED KITCHEN
• NEW COUNTER TOPS
• NEWER APPLIANCES
• NICE DECK
• WOOD BURNING FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/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 $198k (11.9% below list).
• Recommended offer: $198k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% in Mandeville — 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 77/100 on livability (#13 in LA, #3,224 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, commute F.
• St. Tammany Parish (suburban): math 43% / reading 55% proficiency, ranked #11 of 98 in LA (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 260 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,064 units permitted in St. Tammany 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.
• St. Tammany County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $162k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $198,060 (11.9% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 12% 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 A-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. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

• ARV (median comp): $279,806
• List price: $224,900
• Delta: -19.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2415 Biron St	0.19mi	3/2.0	1,340 (+6%)	6mo	$224,900	$168	76
2407 Mcdonald St	0.30mi	3/2.0	1,285 (+2%)	12mo	$225,000	$175	73
625 Nancy St	0.37mi	3/2.0	1,229 (-2%)	7mo	$238,000	$194	72
2098 Dupre St	0.61mi	3/2.0	1,276 (+1%)	5mo	$245,000	$192	65
739 Chevreuil St	0.48mi	3/2.0	1,301 (+3%)	10mo	$232,500	$179	64
820 Joans St	0.66mi	3/2.0	1,282 (+2%)	2mo	$250,000	$195	64
653 Beaulieux St	0.42mi	3/2.0	1,331 (+6%)	11mo	$239,500	$180	62
895 Joans St	0.71mi	3/2.0	1,227 (-3%)	2mo	$172,000	$140	61
2201 Mcdonald St	0.32mi	3/2.0	1,371 (+9%)	12mo	$203,000	$148	60
2141 Dupre St	0.56mi	3/2.0	1,358 (+8%)	8mo	$197,500	$145	54
821 Fay St	0.59mi	3/2.0	1,370 (+9%)	14mo	$265,000	$193	46
825 Fay St	0.60mi	3/2.0	1,371 (+9%)	14mo	$237,500	$173	45

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-26,016
• Equity at exit: $33,533

10-year hold

• IRR: -5.2%
• Equity multiple: 0.69×
• Total profit: $-19,595
• Equity at exit: $19,445

Cash invested: $62,972 (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 70448

• Rents YoY: 1.1%
• Active inventory: 260
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,981 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$67 /mo · $800/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $225

Break-even live

Break-even rent $1,696

Max offer price $224,900

Occupancy floor 84%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2630 Rue Weller Mandeville, LA	3.0	2.0	1288	$2,000	$1.55	23d	1	0.20mi
2440 Biron St Mandeville, LA	3.0	2.0	1250	$1,750	$1.40	3d	1	0.23mi
735 Nancy St Mandeville, LA	3.0	2.0	1250	$1,650	$1.32	43d	1	0.53mi
909 Chevreuil St Mandeville, LA	3.0	2.0	1561	$2,300	$1.47	14d	1	0.68mi
805 Norval St Mandeville, LA	3.0	2.0	1600	$2,000	$1.25	3d	1	0.70mi
817 Norval St Mandeville, LA	3.0	2.0	1518	$1,950	$1.28	43d	1	0.73mi
1010 Elmer St Mandeville, LA	3.0	2.0	1219	$1,600	$1.31	43d	1	1.09mi
22475 Louisiana 1088 Mandeville, LA	3.0	2.0	1120	$1,300	$1.16	43d	1	1.10mi

Listing history 24 events

1. 2026-06-18
   days on market $224,900 Active 64 DOM
2. 2026-06-17
   days on market $224,900 Active 63 DOM
3. 2026-06-16
   days on market $224,900 Active 62 DOM
4. 2026-06-15
   days on market $224,900 Active 61 DOM
5. 2026-06-13
   pricedays on market $224,900 Active 59 DOM
6. 2026-06-10
   days on market $228,000 Active 56 DOM
7. 2026-06-09
   days on market $228,000 Active 55 DOM
8. 2026-06-08
   days on market $228,000 Active 54 DOM
9. 2026-06-07
   days on market $228,000 Active 53 DOM
10. 2026-06-03
    days on market $228,000 Active 49 DOM
11. 2026-06-02
    days on market $228,000 Active 48 DOM
12. 2026-06-01
    days on market $228,000 Active 47 DOM
13. 2026-05-31
    days on market $228,000 Active 46 DOM
14. 2026-05-05
    price $228,000 267-char remark

    Show marketing remark (267 chars)

    New Roof is on the way! Vacant - please schedule through showing time & go & show. Well maintained 3/2. Updated kitchen and paint. New counter tops. newer appliances. Septic is 2 years old. No carpet. Nice deck off kitchen/dining area. Wood burning fireplace.

15. 2026-04-15
    listed $229,000 Active 267-char remark

    Show marketing remark (267 chars)

    New Roof is on the way! Vacant - please schedule through showing time & go & show. Well maintained 3/2. Updated kitchen and paint. New counter tops. newer appliances. Septic is 2 years old. No carpet. Nice deck off kitchen/dining area. Wood burning fireplace.

16. 2020-07-15
    soldstatus $161,715
17. 2020-07-13
    soldstatus $161,715 Closed 99-char remark

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

18. 2020-06-08
    status Pending 99-char remark

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

19. 2020-05-20
    status Active 99-char remark

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

20. 2020-05-11
    status Pending 99-char remark

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

21. 2020-03-16
    price $159,500 99-char remark

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

22. 2020-02-17
    listed $169,500 Active 99-char remark

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

23. 2020-02-17
    listed $159,500

    Show marketing remark (99 chars)

    NEW STOVE, FRESH PAINT, MOVE IN CONDITION. LARGE FENCED YARD, DEN WITH TILE FLOORS AND A FIREPLACE.

24. 2020-01-11
    listed $169,500

ⓘ 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: $800 · $67/mo
• Projected year-2 tax: $1,237 · $103/mo
• Expected delta: +$437/yr (+$36/mo · 54.6%)

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

Taxation est. · year 1

• Rental income: $23,767
• − Mortgage interest: −$12,598
• − Property taxes: −$800
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − Depreciation: −$6,543
• Taxable loss: −$1,101
• Est. tax savings @ 24.0%: +$264
• After-tax cash flow: $2,963/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: St. Tammany Parish
• NCES district ID: 2201650
• Math proficiency: 43% ▼ -32.00%
• Reading proficiency: 55% ▼ -26.00%
• Median HH income: $61,752
• Composite: 43.04/100
• National rank: #3098
• State rank: #11 of 98 in LA

Livability — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Tammany Parish · 228,296 people
• City population: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 26,338
• Household income: $95,682
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 320.0

Population outlook (St. Tammany County) Hauer SSP2

• Today (2025): 286,725 people
• By 2030: 304,175 · +6.1%
• By 2040: 336,203 · +17.3%
• By 2050: 364,590 · +27.2%
• By 2075: 433,362 · +51.1%
• By 2100: 470,333 · +64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 16% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · St. Tammany

• 2024 margin: Solid R (+43.8) · D 27.3% · R 71.1% · Other 1.6%
• 2008→2024 swing: +9.6pp toward D · 2008: -53.4pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+44.2 2016: R+50.8 2012: R+52.2 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.97%
• Current HPI: 179.9084
• Rent YoY: ▲ 1.06%
• Metro: New Orleans-Metairie, 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

+34.5% since first listed

11 events — show timeline

• 2026-05-05 Price Changed $228,000 AcadianaMLS
• 2026-04-15 Listed $229,000 AcadianaMLS
• 2020-07-15 Sold (Public Records) $161,715 Public Records
• 2020-07-13 Sold (MLS) $161,715 GSREIN
• 2020-06-08 Pending — GSREIN
• 2020-05-20 Relisted — GSREIN
• 2020-05-11 Pending — GSREIN
• 2020-03-16 Price Changed $159,500 GSREIN
• 2020-02-17 Listed $159,500 AcadianaMLS
• 2020-02-17 Listed $169,500 GSREIN
• 2020-01-11 Listed $169,500 AcadianaMLS

Property tax history

-5.5%/yr

Latest (2025): $800 · -3.5% YoY. Source: county tax records.