72352 Nursery St · Covington, LA 70435

$165,000

3 bd · 1.5 ba · 1,120 sqft · SingleFamily public records · 28 Days on market

Built 2013 6,250 sqft lot Est $187k · 12% 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 +28.4/30.0
• ARV discount +12.8/15.0
• DSCR +10.0/10.0
• 1% rule +6.6/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable Covington Cottage with charm, convenience, and room to make it your own! This PRECIOUS 3BD/1.5BTH Covington charmer is located just 2 minutes from Abita Springs with easy access to the Trace, restaurants, shopping, playgrounds, farmer's market, and the Abita Trailhead, plus quick access to Hwy 190 and Hwy 59 for an easy commute. Relax on the wide covered front porch overlooking the spacious front yard, or enjoy the functional open-concept layout inside featuring connected living, dining, and kitchen spaces perfect for everyday living. The kitchen offers ample cabinet space along with a large pantry for extra storage. Laminate and tile flooring throughout means no carpet! The spacious primary bedroom features TWO oversized walk-in closets and a private half bath. Generous guest bedrooms also offer large closets and plenty of natural light. Centrally located full bathroom with adjoining laundry area adds convenience. Enjoy the covered rear patio complete with attached storage closet for tools, hobbies, or outdoor gear. Located in Flood Zone C - no flood insurance required. This home offers an incredible opportunity for first-time buyers, downsizers, or investors looking for affordability in St. Tammany Parish. Zoned for Covington schools. A MUST SEE! Make it yours today!

Key facts

• Covered front porch
• Ample cabinet space
• Large pantry

Tags

• COVERED FRONT PORCH
• OPEN-CONCEPT LAYOUT
• AMPLE CABINET SPACE
• LARGE PANTRY
• LAMINATE AND TILE FLOORING
• OVERSIZED WALK-IN CLOSETS

Property features AI

Exterior

• Parking: Driveway with two parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-story home; Vinyl siding; Slab foundation; Shingle roof; Excellent condition; Rectangular lot; Outside city limits; Lot dimensions approximately 50 x 125
• Construction: Built with vinyl siding; Shingle roof; Slab foundation
• Exterior features: Front porch; Yard shed

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Pantry; Cable TV
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.9% in Covington — 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 75/100 on livability (#17 in LA, #3,876 nationally) — a middle-class / working-renter tenant base. Strengths: employment 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: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% FRL); Pine View Middle School (math 20% / reading 37%, grade F, #119 of 218 statewide, top 57%, 635 students, 62% FRL); Covington High School (math 32% / reading 44%, grade F, #90 of 265 statewide, top 34%, 1,660 students, 46% FRL) — zoned schools average 57% FRL vs 40% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 365 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: 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 $162,525 (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: 10.19%
• Cash-on-cash: 13.91%
• DSCR: 1.62
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $187,040
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72351 Rose St	0.05mi	3/1.5	1,120 (0%)	0mo	$163,000	$146	97
21101 Saint Ann St	0.32mi	3/2.0	1,161 (+4%)	6mo	$235,000	$202	72
72475 Jasmine St	0.30mi	4/2.0 (+1)	1,200 (+7%)	5mo	$80,500	$67	62
72343 Manor St	0.55mi	3/2.0	1,171 (+5%)	6mo	$195,000	$167	60
21105 Saint Ann St	0.32mi	3/2.0	1,190 (+6%)	17mo	$205,000	$172	59
72345 Homestead St	0.40mi	3/2.0	1,167 (+4%)	19mo	$230,000	$197	57
72452 Plantation St	0.47mi	3/2.5	1,212 (+8%)	12mo	$174,500	$144	50
72342 Kustenmacher Rd	0.44mi	3/2.0	1,050 (-6%)	23mo	$214,900	$205	48
72268 Kustenmacher Rd	0.46mi	2/2.0 (-1)	1,229 (+10%)	12mo	$230,000	$187	46
72369 Dahlia St	0.27mi	4/2.0 (+1)	1,282 (+14%)	13mo	$115,000	$90	46
21221 Fern St	0.28mi	4/2.0 (+1)	1,282 (+14%)	12mo	$100,000	$78	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $7,289
• Equity at exit: $24,602

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $49,955
• Equity at exit: $14,266

Cash invested: $46,200 (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 70435

• Home prices YoY: -27.3%
• Active inventory: 365
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,908 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$38 /mo · $459/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $535

Break-even live

Break-even rent $1,231

Max offer price $165,000

Occupancy floor 67%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
72475 Jasmine St Covington, LA	4.0	2.0	1200	$1,595	$1.33	43d	1	0.30mi
21482 Pearl St Unit 2 Abita Springs, LA	2.0	1.0	930	$1,400	$1.51	43d	1	0.89mi
71187 Sanders St Abita Springs, LA	3.0	2.0	1130	$2,200	$1.95	43d	1	1.42mi
2093 Dundee Loop N Abita Springs, LA	3.0	2.5	1449	$1,750	$1.21	43d	1	1.49mi

Listing history 15 events

1. 2026-06-18
   days on market $165,000 Active 28 DOM
2. 2026-06-17
   statusdays on market $165,000 Active 27 DOM
3. 2026-06-16
   days on market $165,000 Active Under Contract 26 DOM
4. 2026-06-15
   days on market $165,000 Active Under Contract 25 DOM
5. 2026-06-13
   days on market $165,000 Active Under Contract 23 DOM
6. 2026-06-10
   days on market $165,000 Active Under Contract 20 DOM
7. 2026-06-09
   days on market $165,000 Active Under Contract 19 DOM
8. 2026-06-08
   days on market $165,000 Active Under Contract 18 DOM
9. 2026-06-07
   days on market $165,000 Active Under Contract 17 DOM
10. 2026-06-03
    days on market $165,000 Active Under Contract 13 DOM
11. 2026-06-02
    days on market $165,000 Active Under Contract 12 DOM
12. 2026-06-01
    days on market $165,000 Active Under Contract 11 DOM
13. 2026-05-31
    days on market $165,000 Active Under Contract 10 DOM
14. 2026-05-21
    listed $165,000 Active

    Show marketing remark (1300 chars)

    Affordable Covington Cottage with charm, convenience, and room to make it your own! This PRECIOUS 3BD/1.5BTH Covington charmer is located just 2 minutes from Abita Springs with easy access to the Trace, restaurants, shopping, playgrounds, farmer's market, and the Abita Trailhead, plus quick access to Hwy 190 and Hwy 59 for an easy commute. Relax on the wide covered front porch overlooking the spacious front yard, or enjoy the functional open-concept layout inside featuring connected living, dining, and kitchen spaces perfect for everyday living. The kitchen offers ample cabinet space along with a large pantry for extra storage. Laminate and tile flooring throughout means no carpet! The spacious primary bedroom features TWO oversized walk-in closets and a private half bath. Generous guest bedrooms also offer large closets and plenty of natural light. Centrally located full bathroom with adjoining laundry area adds convenience. Enjoy the covered rear patio complete with attached storage closet for tools, hobbies, or outdoor gear. Located in Flood Zone C - no flood insurance required. This home offers an incredible opportunity for first-time buyers, downsizers, or investors looking for affordability in St. Tammany Parish. Zoned for Covington schools. A MUST SEE! Make it yours today!

15. 2026-05-21
    listed $165,000 Active 1300-char remark

    Show marketing remark (1300 chars)

    Affordable Covington Cottage with charm, convenience, and room to make it your own! This PRECIOUS 3BD/1.5BTH Covington charmer is located just 2 minutes from Abita Springs with easy access to the Trace, restaurants, shopping, playgrounds, farmer's market, and the Abita Trailhead, plus quick access to Hwy 190 and Hwy 59 for an easy commute. Relax on the wide covered front porch overlooking the spacious front yard, or enjoy the functional open-concept layout inside featuring connected living, dining, and kitchen spaces perfect for everyday living. The kitchen offers ample cabinet space along with a large pantry for extra storage. Laminate and tile flooring throughout means no carpet! The spacious primary bedroom features TWO oversized walk-in closets and a private half bath. Generous guest bedrooms also offer large closets and plenty of natural light. Centrally located full bathroom with adjoining laundry area adds convenience. Enjoy the covered rear patio complete with attached storage closet for tools, hobbies, or outdoor gear. Located in Flood Zone C - no flood insurance required. This home offers an incredible opportunity for first-time buyers, downsizers, or investors looking for affordability in St. Tammany Parish. Zoned for Covington schools. A MUST SEE! Make it yours today!

ⓘ 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: $459 · $38/mo
• Projected year-2 tax: $908 · $76/mo
• Expected delta: +$449/yr (+$37/mo · 97.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $22,902
• − Mortgage interest: −$9,243
• − Property taxes: −$459
• − Insurance: −$825
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$4,800
• Taxable income: $3,911
• Est. tax owed @ 24.0%: −$939
• After-tax cash flow: $5,486/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 — Covington

• Score: 75/100
• State rank: #17
• US rank: #3876

Category grades

Amenities F Commute F Cost of living B+ 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: 64,351
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,475
• Household income: $80,926
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 296.0

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% Black 9% Two or more races 4% Hispanic / Latino 3% Pacific Islander 2%
• Common ancestry: Lithuanian 15% Serbian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -76.03%
• Current HPI: 202.0458
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $165,000 AcadianaMLS
• 2026-05-21 Listed $165,000 GSREIN

Property tax history

-6.1%/yr

Latest (2025): $459 · -4.6% YoY. Source: county tax records.