1415 Martin Luther King Jr Dr · Slidell, LA 70458

$115,000

2 bd · 1.0 ba · 986 sqft · SingleFamily public records · 22 Days on market

Built 2007 5,645 sqft lot Est $137k · 16% under

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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 +27.2/30.0
• ARV discount +14.7/15.0
• DSCR +9.4/10.0
• 1% rule +6.6/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bedroom, 1 bathroom home situated on a shaded lot. A spacious front deck offers the perfect spot to relax, while the large living room provides plenty of space for entertaining guests. Conveniently located just minutes from all of Slidell's shopping, dining, and amenities, with easy access for commuting. With a little TLC, this property would make a great first home, downsizing option, or investment opportunity. Schedule your showing today!

Key facts

• Shaded lot
• Spacious front deck
• Large living room

Tags

• SHADED LOT
• SPACIOUS FRONT DECK
• LARGE LIVING ROOM
• EASY ACCESS FOR COMMUTING

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Vinyl siding; Shingle roof; Average condition
• Construction: Built with vinyl siding; Shingle roof; Raised foundation
• Exterior features: Front porch; City lot; Rectangular lot; Lot dimensions approximately 60 x 100

Interior

• Kitchen: Oven; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Pantry
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.9% in Slidell — 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 (#57 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety 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 (+1.5%/yr); 489 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $795 of loan paydown is wiped out by about $3k 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 22 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $113,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.20%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $137,054
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3113 Terrace Ave	0.18mi	2/1.0	914 (-7%)	9mo	$127,500	$139	72
784 Pinetree St	0.38mi	3/1.0 (+1)	935 (-5%)	2mo	$145,000	$155	67
3281 Rama St	0.69mi	2/1.0	974 (-1%)	2mo	$163,300	$168	64
727 Stanley St	0.45mi	3/1.0 (+1)	1,026 (+4%)	4mo	$45,000	$44	64
3222 Duncan St	0.56mi	3/2.0 (+1)	1,100 (+12%)	4mo	$66,200	$60	43

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $178
• Equity at exit: $17,147

10-year hold

• IRR: 8.3%
• Equity multiple: 1.59×
• Total profit: $18,887
• Equity at exit: $9,943

Cash invested: $32,200 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,330 high
• Mortgage (P&I): −$603
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $327

Break-even live

Break-even rent $915

Max offer price $115,000

Occupancy floor 70%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Old Spanish Trl Slidell, LA	2.0	1.5	1070	$1,120	$1.05	12d	1	0.47mi
1303 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	990	$1,588	$1.60	2d	31	0.50mi
3159 Dee St Slidell, LA	3.0	1.0	898	$1,400	$1.56	44d	1	0.50mi
2864 Slidell Ave Slidell, LA	3.0	1.0	963	$1,395	$1.45	3d	1	0.54mi
1112 Cousin St Slidell, LA	2.0	1.0	782	$1,100	$1.41	3d	1	0.66mi
1640 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	959	$1,635	$1.71	2d	46	0.80mi
2004 5th St Unit A Slidell, LA	2.0	1.0	900	$1,250	$1.39	24d	1	0.82mi
2594 Front St Unit 3 Slidell, LA	1.0	1.0	800	$1,250	$1.56	44d	1	0.96mi
221 Bella Sera Ln Slidell, LA	3.0	2.0	1028	$1,525	$1.48	12d	1	0.98mi
400 Voters Rd Slidell, LA	1.0	1.0	550	$925	$1.68	24d	1	1.04mi
400 Voters Rd Slidell, LA	1.0	1.0	550	$925	$1.68	44d	1	1.04mi
57376 Beech Ave Slidell, LA	2.0	1.5	1000	$1,350	$1.35	17d	1	1.07mi
57376 Beech Ave Slidell, LA	2.0	1.5	1004	$1,350	$1.34	14d	1	1.07mi
57389 Brookter Rd Slidell, LA	2.0	1.0	971	$1,200	$1.24	20d	1	1.29mi
756 Gause Blvd Unit 38 Slidell, LA	2.0	2.0	814	$1,000	$1.23	3d	1	1.40mi
756 Gause Blvd Unit 38 Slidell, LA	2.0	2.0	814	$1,000	$1.23	44d	1	1.40mi

Listing history 16 events

1. 2026-06-18
   days on market $115,000 Active 22 DOM
2. 2026-06-17
   days on market $115,000 Active 21 DOM
3. 2026-06-16
   days on market $115,000 Active 20 DOM
4. 2026-06-15
   days on market $115,000 Active 19 DOM
5. 2026-06-13
   days on market $115,000 Active 17 DOM
6. 2026-06-10
   days on market $115,000 Active 14 DOM
7. 2026-06-09
   days on market $115,000 Active 13 DOM
8. 2026-06-08
   days on market $115,000 Active 12 DOM
9. 2026-06-07
   days on market $115,000 Active 11 DOM
10. 2026-06-03
    days on market $115,000 Active 7 DOM
11. 2026-06-02
    days on market $115,000 Active 6 DOM
12. 2026-06-01
    days on market $115,000 Active 5 DOM
13. 2026-05-31
    days on market $115,000 Active 4 DOM
14. 2026-05-27
    listed $115,000 Active

    Show marketing remark (455 chars)

    Charming 2 bedroom, 1 bathroom home situated on a shaded lot. A spacious front deck offers the perfect spot to relax, while the large living room provides plenty of space for entertaining guests. Conveniently located just minutes from all of Slidell's shopping, dining, and amenities, with easy access for commuting. With a little TLC, this property would make a great first home, downsizing option, or investment opportunity. Schedule your showing today!

15. 2026-05-27
    listed $115,000 Active 455-char remark

    Show marketing remark (455 chars)

    Charming 2 bedroom, 1 bathroom home situated on a shaded lot. A spacious front deck offers the perfect spot to relax, while the large living room provides plenty of space for entertaining guests. Conveniently located just minutes from all of Slidell's shopping, dining, and amenities, with easy access for commuting. With a little TLC, this property would make a great first home, downsizing option, or investment opportunity. Schedule your showing today!

16. 2010-09-20
    listed $92,000

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $863 · $72/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $15,955
• − Mortgage interest: −$6,442
• − Property taxes: −$863
• − Insurance: −$575
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$3,345
• Taxable income: $2,176
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $3,407/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 — Slidell

• Score: 70/100
• State rank: #57
• US rank: #7673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Vietnamese 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

+25.0% since first listed

3 events — show timeline

• 2026-05-27 Listed $115,000 AcadianaMLS
• 2026-05-27 Listed $115,000 GSREIN
• 2010-09-20 Listed $92,000 AcadianaMLS

Property tax history

-7.4%/yr

Latest (2025): $863 · -8.4% YoY. Source: county tax records.