2506 Jay St · Slidell, LA 70458

$115,900

4 bd · 2.0 ba · 1,587 sqft · SingleFamily public records · 6 Days on market

Built 1988 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 +4.3/10.0
• 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

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

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank; Central heating and central air; Window unit heating and cooling available
• Home design: Single-story; Raised foundation; Average condition
• Construction: Vinyl siding; Metal roof; Built on a raised foundation
• Exterior features: Permeable paving; City lot; Rectangular lot; Lot dimensions approximately 50 x 143

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range
• Bedrooms: Total rooms: 10
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fans; Pantry
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Cap rate 12.5% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $115,900

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: 1.56% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.28%
• DSCR: 1.99
• GRM: 5.4

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%)	3mo	$130,000	$89	76
2515 Pelican St	0.10mi	3/2.0 (-1)	1,405 (-12%)	3mo	$235,000	$167	69
2517 Pelican St	0.11mi	3/2.0 (-1)	1,367 (-14%)	1mo	$240,000	$176	66
2523 Robin St	0.09mi	3/2.0 (-1)	1,385 (-13%)	7mo	$198,500	$143	64
185 Lark St	0.30mi	4/2.0	1,453 (-8%)	12mo	$195,000	$134	62
2402 Mallard St	0.19mi	3/2.0 (-1)	1,361 (-14%)	3mo	$125,000	$92	60
173 Lark St	0.31mi	3/2.0 (-1)	1,363 (-14%)	3mo	$186,500	$137	54
2207 Oriole St	0.38mi	3/2.0 (-1)	1,370 (-14%)	5mo	$197,000	$144	51
204 Sarah Ln	0.55mi	3/2.0 (-1)	1,510 (-5%)	14mo	$240,000	$159	50
2216 Pelican St	0.35mi	3/2.0 (-1)	1,350 (-15%)	13mo	$223,000	$165	43
2004 Pelican St	0.67mi	3/2.0 (-1)	1,740 (+10%)	14mo	$110,000	$63	36
2111 Mallard St	0.50mi	3/2.5 (-1)	1,365 (-14%)	16mo	$205,000	$150	33

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: 13.3%
• Equity multiple: 1.52×
• Total profit: $16,895
• Equity at exit: $17,281

10-year hold

• IRR: 20.9%
• Equity multiple: 2.65×
• Total profit: $53,396
• 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 →

ZIP-level market 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,805 medium
• Mortgage (P&I): −$608
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $602

Break-even live

Break-even rent $1,043

Max offer price $115,900

Occupancy floor 62%

Sensitivity live

Price	-10% $668	-5% $635	+0% $602	+5% $570	+10% $537
Rent	-10% $460	-5% $531	+0% $602	+5% $674	+10% $745
Rate	-1.0pp $661	-0.5pp $632	base $602	+0.5pp $572	+1.0pp $542

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
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2402 Pelican St Slidell, LA	3.0	2.0	1400	$1,700	$1.21	24d	1	0.20mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	24d	1	0.21mi
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.24mi
34081 Stanley St Slidell, LA	3.0	2.5	1832	$1,950	$1.06	3d	1	1.43mi

Listing history 40 events

1. 2026-06-18
   days on market $115,900 Active 6 DOM
2. 2026-06-17
   days on market $115,900 Active 5 DOM
3. 2026-06-16
   days on market $115,900 Active 4 DOM
4. 2026-06-15
   days on market $115,900 Active 3 DOM
5. 2026-06-13
   pricedays on marketlisting id $115,900 Active 1 DOM
6. 2026-06-03
   days on market $129,900 Active 65 DOM
7. 2026-06-02
   days on market $129,900 Active 64 DOM
8. 2026-06-01
   days on market $129,900 Active 63 DOM
9. 2026-05-31
   days on market $129,900 Active 62 DOM
10. 2026-03-27
    listed $129,900 Active 220-char remark
11. 2026-03-27
    listed $129,900 Active 220-char remark
12. 2026-01-16
    price $149,900
13. 2026-01-16
    price $149,900
14. 2025-12-18
    price $159,900
15. 2025-12-18
    price $159,900
16. 2025-10-21
    price $171,000
17. 2025-10-21
    price $171,000
18. 2025-10-20
    listed $117,000 Active
19. 2025-08-07
    price $118,900
20. 2025-08-07
    price $118,900
21. 2025-07-03
    price $125,000
22. 2025-07-03
    price $125,000
23. 2025-06-25
    price $131,500
24. 2025-05-28
    price $131,500
25. 2025-04-29
    price $137,900
26. 2025-04-29
    price $137,900
27. 2025-03-28
    listed $144,900 Active
28. 2021-06-22
    soldstatus $145,000
29. 2021-06-21
    soldstatus $145,000 Closed
30. 2021-05-19
    status Pending
31. 2021-05-13
    listed $150,000
32. 2021-05-13
    listed $150,000 Active
33. 2018-07-05
    historical
34. 2018-06-27
    listed $115,000
35. 2018-06-27
    listed $115,000 Active
36. 2015-11-02
    historical
37. 2015-10-12
    listed $124,900 Active
38. 2015-10-12
    listed $124,900
39. 2010-08-24
    listed $124,900
40. 2010-08-24
    listed $124,900

ⓘ 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 · 57% 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: $21,662
• − Mortgage interest: −$6,492
• − Property taxes: −$2,010
• − Insurance: −$580
• − Repairs & maintenance: −$1,733
• − Management: −$1,733
• − Depreciation: −$3,372
• Taxable income: $5,742
• Est. tax owed @ 24.0%: −$1,378
• After-tax cash flow: $5,851/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

• 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

-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.