10 Place Lafitte Rd · Madisonville, LA 70447

$169,000

4 bd · 4.5 ba · 2,791 sqft · SingleFamily public records · 104 Days on market

Built 1984 $61/sqft · 28% below area Est $210k · 19% under $401/mo HOA · 15% of rent ↓ 12% since listing

---

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 +29.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

Key facts

• Private balcony
• Large kitchen
• Walk in closets

Tags

• LARGE KITCHEN
• PRIVATE BALCONY
• WALK IN CLOSETS

What this means for you Summary

Snapshot

• This is a 4-bed/4.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-62 ($-749/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (6.5% below list).
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $154k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.5% in Madisonville — 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 79/100 on livability (#5 in LA, #2,302 nationally) — a middle-class / working-renter tenant base. Strengths: crime 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.
• Zoned schools: Joseph B. Lancaster Elementary School (math 58% / reading 73%, grade B+, #38 of 646 statewide, top 6%, 1,505 students, 21% FRL); Madisonville Junior High School (math 41% / reading 58%, grade C, #28 of 218 statewide, top 13%, 655 students, 21% FRL); Mandeville High School (math 59% / reading 63%, grade C+, #19 of 265 statewide, top 7%, 2,259 students, 22% FRL) — zoned schools average 21% FRL vs 40% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 249 active listings in the ZIP; high-income renter base; 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 $1k of loan paydown is wiped out by about $5k 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 104 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance); severe wind risk, 99% 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 $153,790 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.57% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.38%
• DSCR: 1.68
• GRM: 5.3

CMA / ARV

• ARV (median comp): $209,601
• List price: $169,000
• Delta: -19.37%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-30,713
• Equity at exit: $25,198

10-year hold

• IRR: -9.9%
• Equity multiple: 0.38×
• Total profit: $-29,231
• Equity at exit: $14,612

Cash invested: $47,320 (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 70447

• Home prices YoY: -28.1%
• Active inventory: 249
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,652 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$131 /mo · $1,572/yr
• Insurance: −$70
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$401
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-62

Break-even live

Break-even rent $2,731

Max offer price $157,972

Occupancy floor 97%

Sensitivity live

Price	-10% $33	-5% $-15	+0% $-62	+5% $-110	+10% $-158
Rent	-10% $-272	-5% $-167	+0% $-62	+5% $42	+10% $147
Rate	-1.0pp $23	-0.5pp $-19	base $-62	+0.5pp $-106	+1.0pp $-151

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $401 · $4,812/yr
• Likely covers: water

Listing history 30 events

1. 2026-06-21
   days on market $169,000 Active 104 DOM
2. 2026-06-18
   days on market $169,000 Active 101 DOM
3. 2026-06-17
   price $169,000 Active 100 DOM
4. 2026-06-17
   days on market $190,000 Active 100 DOM
5. 2026-06-16
   days on market $190,000 Active 99 DOM
6. 2026-06-15
   days on market $190,000 Active 98 DOM
7. 2026-06-13
   statusdays on market $190,000 Active 96 DOM
8. 2026-06-10
   days on market $190,000 Active Under Contract 93 DOM
9. 2026-06-09
   days on market $190,000 Active Under Contract 92 DOM
10. 2026-06-08
    days on market $190,000 Active Under Contract 91 DOM
11. 2026-06-07
    days on market $190,000 Active Under Contract 90 DOM
12. 2026-06-03
    days on market $190,000 Active Under Contract 86 DOM
13. 2026-06-02
    days on market $190,000 Active Under Contract 85 DOM
14. 2026-06-01
    days on market $190,000 Active Under Contract 84 DOM
15. 2026-05-31
    days on market $190,000 Active Under Contract 83 DOM
16. 2026-05-15
    status Pending 156-char remark

    Show marketing remark (160 chars)

    This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

17. 2026-05-15
    historical Active Under Contract 160-char remark

    Show marketing remark (160 chars)

    This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

18. 2026-04-10
    price $190,000 156-char remark

    Show marketing remark (160 chars)

    This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

19. 2026-04-10
    price $190,000 160-char remark

    Show marketing remark (160 chars)

    This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

20. 2026-03-07
    listed $199,500 Active 156-char remark

    Show marketing remark (160 chars)

    This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

21. 2026-03-07
    listed $199,500 Active 160-char remark

    Show marketing remark (160 chars)

    This spacious 4 bedroom town home offers stunning water views & a large kitchen. The master suite has a private balcony & two large walk in closets.

22. 2015-11-06
    soldstatus $152,000 Sold
23. 2015-09-29
    status Under Contract
24. 2015-09-12
    listed $158,500 Active
25. 2015-09-10
    listed $158,500
26. 2014-04-08
    listed $209,000
27. 2014-04-08
    listed $209,000
28. 2013-07-10
    listed $239,900
29. 2013-07-10
    listed $239,900
30. 2000-08-18
    soldstatus $215,000

ⓘ 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: $1,572 · $131/mo
• Projected year-2 tax: $1,572 · $131/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 9/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,826
• − Mortgage interest: −$9,467
• − Property taxes: −$1,572
• − Insurance: −$8,873
• − Repairs & maintenance: −$2,546
• − Management: −$2,546
• − HOA: −$4,812
• − Depreciation: −$4,916
• Taxable loss: −$2,906
• Est. tax savings @ 24.0%: +$697
• After-tax cash flow: $-52/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 — Madisonville

• Score: 79/100
• State rank: #5
• US rank: #2302

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: 17,897
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 17,897
• Household income: $122,574
• Rent vs Own: 4.0% rent · 96.0% own
• Severe rent burden: 47.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 19% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -68.07%
• Current HPI: 174.0804
• Rent YoY: —
• 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

-11.6% since first listed

15 events — show timeline

• 2026-05-15 Pending — AcadianaMLS
• 2026-05-15 Contingent — GSREIN
• 2026-04-10 Price Changed $190,000 AcadianaMLS
• 2026-04-10 Price Changed $190,000 GSREIN
• 2026-03-07 Listed $199,500 GSREIN
• 2026-03-07 Listed $199,500 AcadianaMLS
• 2015-11-06 Sold (MLS) $152,000 GSREIN
• 2015-09-29 Pending — GSREIN
• 2015-09-12 Listed $158,500 GSREIN
• 2015-09-10 Listed $158,500 AcadianaMLS
• 2014-04-08 Listed $209,000 GSREIN
• 2014-04-08 Listed $209,000 AcadianaMLS
• 2013-07-10 Listed $239,900 GSREIN
• 2013-07-10 Listed $239,900 AcadianaMLS
• 2000-08-18 Sold (Public Records) $215,000 Public Records

Property tax history

-5.5%/yr

Latest (2025): $1,572 · -2.4% YoY. Source: county tax records.