2506 Jay St · Slidell, LA 70458

$115,900

4 bd · 2.0 ba · 1,587 sqft · SingleFamily public records · 52 Days on market

Built 1988 Fair condition 6,969 sqft lot $73/sqft · 46% below area Est $215k · 46% under ↓ 7% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for 1st time buyers or investors in Slidell's Ozone Woods subdivision. This 4-bedroom, 2-bath home sits on a 50' x 143' lot, features a recently added 15.1' x 12.7' sunroom, and is priced to sell As-Is.

Key facts

• 6,969 sq ft lot
• Parking
• Built 1988

Tags

• OZONE WOODS SUBDIVISION
• RECENTLY ADDED SUNROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $116k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 6.0% 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.
• Zoned schools: Henry Mayfield Elementary School (math 35% / reading 45%, grade F, #221 of 646 statewide, top 34%, 832 students, 60% FRL); Slidell Junior High School (math 25% / reading 47%, grade F, #84 of 218 statewide, top 41%, 823 students, 60% FRL); Slidell High School (math 34% / reading 41%, grade F, #93 of 265 statewide, top 36%, 1,883 students, 52% FRL) — zoned schools average 58% FRL vs 40% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 580 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $801 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.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 13 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,423 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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. 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: 1.56% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.43%
• DSCR: 2.00
• GRM: 5.3

CMA / ARV

• ARV (median comp): $215,085
• List price: $115,900
• Delta: -39.61%
• 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
2521 Robin St	0.08mi	3/2.0 (-1)	1,468 (-8%)	5mo	$130,000	$89	75
2515 Pelican St	0.10mi	3/2.0 (-1)	1,405 (-12%)	4mo	$235,000	$167	68
2517 Pelican St	0.11mi	3/2.0 (-1)	1,367 (-14%)	3mo	$240,000	$176	64
2523 Robin St	0.09mi	3/2.0 (-1)	1,385 (-13%)	9mo	$198,500	$143	62
185 Lark St	0.30mi	4/2.0	1,453 (-8%)	13mo	$195,000	$134	61
2402 Mallard St	0.19mi	3/2.0 (-1)	1,361 (-14%)	4mo	$125,000	$92	59
173 Lark St	0.31mi	3/2.0 (-1)	1,363 (-14%)	5mo	$186,500	$137	53
2207 Oriole St	0.38mi	3/2.0 (-1)	1,370 (-14%)	6mo	$197,000	$144	49
204 Sarah Ln	0.55mi	3/2.0 (-1)	1,510 (-5%)	16mo	$240,000	$159	48
2034 Swan St	0.60mi	3/2.0 (-1)	1,413 (-11%)	1mo	$80,000	$57	48
2216 Pelican St	0.35mi	3/2.0 (-1)	1,350 (-15%)	14mo	$223,000	$165	42
2004 Pelican St	0.67mi	3/2.0 (-1)	1,740 (+10%)	15mo	$110,000	$63	35

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: 13.5%
• Equity multiple: 1.53×
• Total profit: $17,150
• Equity at exit: $17,281

10-year hold

• IRR: 21.1%
• Equity multiple: 2.66×
• Total profit: $53,926
• Equity at exit: $10,021

Cash invested: $32,452 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 14 active · 11 under contract
• Months of supply: 4.2 mo (24%/mo absorbed)
• Median asking: $198,950 ($145/sqft)
• Median days on market: 53 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: -6.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70458

• Rents YoY: 1.5%
• Active inventory: 580
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,810 high
• Mortgage (P&I): −$608
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $607

Break-even live

Break-even rent $1,043

Max offer price $115,900

Occupancy floor 61%

Sensitivity live

Price	-10% $672	-5% $639	+0% $607	+5% $574	+10% $541
Rent	-10% $464	-5% $535	+0% $607	+5% $678	+10% $750
Rate	-1.0pp $665	-0.5pp $636	base $607	+0.5pp $577	+1.0pp $546

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: $28,975
• Closing costs: $3,477
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2402 Pelican St Slidell, LA	3.0	2.0	1400	$1,700	$1.21	72d	1	0.20mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	72d	1	0.21mi
2316 Robin St Slidell, LA	4.0	2.0	1750	$1,700	$0.97	20d	1	0.23mi
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	93d	1	0.24mi
34081 Stanley St Slidell, LA	3.0	2.5	1832	$1,850	$1.01	30d	1	1.43mi

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public waterSeptic tankCentral heating and central airWindow unit heating and cooling available
• Home design: Single-storyRaised foundationAverage condition
• Construction: Vinyl sidingMetal roofBuilt on a raised foundation
• Exterior features: Permeable pavingCity lotRectangular lotLot dimensions approximately 50 x 143

Interior

• Kitchen: DishwasherMicrowaveOvenRange
• Bedrooms: Total rooms: 10
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fansPantry
• Laundry & utility: Washer hookupDryer hookup

Listing history 50 events

1. 2026-08-03
   days on market $115,900 Active 52 DOM
2. 2026-07-31
   days on market $115,900 Active 49 DOM
3. 2026-07-30
   days on market $115,900 Active 48 DOM
4. 2026-07-30
   days on market $115,900 Active 47 DOM
5. 2026-07-28
   days on market $115,900 Active 46 DOM
6. 2026-07-26
   days on market $115,900 Active 44 DOM
7. 2026-07-24
   days on market $115,900 Active 42 DOM
8. 2026-07-23
   days on market $115,900 Active 41 DOM
9. 2026-07-22
   days on market $115,900 Active 40 DOM
10. 2026-07-21
    days on market $115,900 Active 39 DOM
11. 2026-07-20
    days on market $115,900 Active 38 DOM
12. 2026-07-18
    days on market $115,900 Active 36 DOM
13. 2026-07-18
    days on market $115,900 Active 35 DOM
14. 2026-07-16
    days on market $115,900 Active 34 DOM
15. 2026-07-15
    days on market $115,900 Active 33 DOM
16. 2026-07-14
    days on market $115,900 Active 32 DOM
17. 2026-07-13
    days on market $115,900 Active 31 DOM
18. 2026-07-13
    days on market $115,900 Active 30 DOM
19. 2026-07-11
    days on market $115,900 Active 29 DOM
20. 2026-07-10
    days on market $115,900 Active 28 DOM
21. 2026-07-09
    days on market $115,900 Active 27 DOM
22. 2026-07-07
    days on market $115,900 Active 25 DOM
23. 2026-07-06
    days on market $115,900 Active 24 DOM
24. 2026-07-05
    days on market $115,900 Active 23 DOM
25. 2026-07-03
    days on market $115,900 Active 21 DOM
26. 2026-07-02
    days on market $115,900 Active 20 DOM
27. 2026-07-01
    days on market $115,900 Active 19 DOM
28. 2026-06-30
    days on market $115,900 Active 18 DOM
29. 2026-06-29
    days on market $115,900 Active 17 DOM
30. 2026-06-28
    days on market $115,900 Active 16 DOM
31. 2026-06-27
    days on market $115,900 Active 15 DOM
32. 2026-06-27
    days on market $115,900 Active 14 DOM
33. 2026-06-25
    days on market $115,900 Active 12 DOM
34. 2026-06-22
    days on market $115,900 Active 10 DOM
35. 2026-06-21
    days on market $115,900 Active 9 DOM
36. 2026-06-18
    days on market $115,900 Active 6 DOM
37. 2026-06-17
    days on market $115,900 Active 5 DOM
38. 2026-06-16
    days on market $115,900 Active 4 DOM
39. 2026-06-15
    days on market $115,900 Active 3 DOM
40. 2026-06-13
    pricedays on marketlisting id $115,900 Active 1 DOM
41. 2026-06-03
    days on market $129,900 Active 65 DOM
42. 2026-06-02
    days on market $129,900 Active 64 DOM
43. 2026-06-01
    days on market $129,900 Active 63 DOM
44. 2026-05-31
    days on market $129,900 Active 62 DOM
45. 2026-03-27
    listed $129,900 Active 220-char remark
46. 2026-03-27
    listed $129,900 Active 220-char remark
47. 2026-01-16
    price $149,900
48. 2026-01-16
    price $149,900
49. 2025-12-18
    price $159,900
50. 2025-12-18
    price $159,900

ⓘ 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: $2,010 · $168/mo
• Projected year-2 tax: $2,010 · $168/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 6/10 Major FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,725
• − Mortgage interest: −$6,492
• − Property taxes: −$2,010
• − Insurance: −$580
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − Depreciation: −$3,372
• Taxable income: $5,795
• Est. tax owed @ 24.0%: −$1,391
• After-tax cash flow: $5,888/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 · 10 photos

Fair 45/100 Moderate rehab Est. rehab $39,675–$71,415 screening

This home requires moderate renovations, including kitchen and bathroom updates, to improve its condition and value. The property has a good roof and a decent lot, but the interior and exterior need significant attention.

Components & finishes AI

Roof metal · good

Deferred maintenance Est. $10,500–$32,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Major Windows (windows) — Windows appear to be old and possibly not sealed properly, indicating potential air leakage and energy inefficiency.

Repairs flagged

• Major Kitchen cabinets — Cabinets are visibly worn and need replacement or repair.
• Major Kitchen countertops — Countertops are outdated and need replacement.
• Major Kitchen appliances — Appliances appear old and need replacement.
• Major Bathroom fixtures — Fixtures are dated and need replacement.
• Minor Exterior siding — Some discoloration and minor damage present.
• Minor Landscaping — Overgrown and needs trimming.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Both Replace kitchen cabinets — New cabinets will improve the kitchen's functionality and aesthetics, benefiting both resale and rental. ↑
• Both Replace kitchen countertops — Modern countertops will enhance the kitchen's functionality and appeal, benefiting both resale and rental. ↑
• Both Replace kitchen appliances — Up-to-date appliances will make the kitchen more functional and attractive, benefiting both resale and rental. ↑
• Both Replace bathroom fixtures — Modern fixtures will improve the bathroom's functionality and aesthetics, benefiting both resale and rental. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Mathews Elementary School C- GA #219/1,228 Nat'l #11,114/41,679 Middle Slidell Junior High School F LA #84/218 Nat'l #7,206/14,009 High Slidell High School F LA #93/265 Nat'l #8,937/17,239

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

B Composite livability gradescore 70/100

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

• County: Saint Tammany Parish · 286,725 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: 13% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public waterSeptic tankCentral heating and central airWindow unit heating and cooling available
• Home design: Single-storyRaised foundationAverage condition
• Construction: Vinyl sidingMetal roofBuilt on a raised foundation
• Exterior features: Permeable pavingCity lotRectangular lotLot dimensions approximately 50 x 143

Interior

• Kitchen: DishwasherMicrowaveOvenRange
• Bedrooms: Total rooms: 10
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fansPantry
• Laundry & utility: Washer hookupDryer hookup

Price history

-7.2% since first listed

32 events — show timeline

• 2026-06-12 Listed $115,900 AcadianaMLS
• 2026-06-12 Listed $115,900 GSREIN
• 2026-03-27 Listed $129,900 AcadianaMLS
• 2026-01-16 Price Changed $149,900 AcadianaMLS
• 2026-01-16 Price Changed $149,900 GSREIN
• 2025-12-18 Price Changed $159,900 AcadianaMLS
• 2025-12-18 Price Changed $159,900 GSREIN
• 2025-10-21 Price Changed $171,000 AcadianaMLS
• 2025-10-21 Price Changed $171,000 GSREIN
• 2025-10-20 Listed $117,000 AcadianaMLS
• 2025-08-07 Price Changed $118,900 AcadianaMLS
• 2025-08-07 Price Changed $118,900 GSREIN
• 2025-07-03 Price Changed $125,000 AcadianaMLS
• 2025-07-03 Price Changed $125,000 GSREIN
• 2025-06-25 Price Changed $131,500 AcadianaMLS
• 2025-05-28 Price Changed $131,500 GSREIN
• 2025-04-29 Price Changed $137,900 AcadianaMLS
• 2025-04-29 Price Changed $137,900 GSREIN
• 2025-03-28 Listed $144,900 AcadianaMLS
• 2021-06-22 Sold (Public Records) $145,000 Public Records
• 2021-06-21 Sold (MLS) $145,000 GSREIN
• 2021-05-19 Pending — GSREIN
• 2021-05-13 Listed $150,000 AcadianaMLS
• 2021-05-13 Listed $150,000 GSREIN
• 2018-07-05 Listing Removed — GSREIN
• 2018-06-27 Listed $115,000 GSREIN
• 2018-06-27 Listed $115,000 AcadianaMLS
• 2015-11-02 Listing Removed — GSREIN
• 2015-10-12 Listed $124,900 GSREIN
• 2015-10-12 Listed $124,900 AcadianaMLS
• 2010-08-24 Listed $124,900 GSREIN
• 2010-08-24 Listed $124,900 AcadianaMLS

Property tax history

+1.4%/yr

Latest (2025): $2,010 · -3.9% YoY. Source: county tax records.