409 Kostmayer Ave · Slidell, LA 70458

$110,000

3 bd · 1.5 ba · 816 sqft · SingleFamily public records · 6 Days on market

Built 1950 0.27 ac lot Est $126k · 13% 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 +30.0/30.0
• ARV discount +13.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

Slidell Charmer with Bonus Efficiency Apartment in Sought-After Salmen Addition! Don't miss this well-appointed 3-bedroom, 1.5-bath home nestled in the established Salmen Addition neighborhood of Slidell. Whether you're a first-time buyer, investor, or savvy homeowner looking to offset your mortgage, this property delivers incredible value and versatility. The standout feature? A fully self-contained mother-in-law/efficiency apartment, perfect for extended family or out-of-town guests Step outside and enjoy the generous covered patio, an ideal spot for entertaining, relaxing, or simply soaking in the Louisiana lifestyle year-round rain or shine. This home offers the kind of quiet, established neighborhood feel that buyers are always searching for. Schedule your showing today before this one is gone!

Key facts

• Covered patio
• 0.27 acre lot
• 2 parking spots

Tags

• COVERED PATIO
• ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: Two parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Average condition
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation; Built with typical residential construction materials
• Exterior features: Covered concrete patio; Apartment (other structure on property); City lot; Oversized lot; Lot dimensions approximately 65 x 60 x 197

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total of 5 rooms (bedrooms and living spaces included)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 10.8% 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.
• Zoned schools: W.L. Abney Elementary School (math 31% / reading 38%, grade F, #284 of 646 statewide, top 46%, 1,094 students, 70% FRL); St. Tammany Junior High School (math 19% / reading 41%, grade F, #114 of 218 statewide, top 53%, 793 students, 68% FRL); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL) — zoned schools average 67% FRL vs 40% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 49% district-wide (-20 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.5%/yr); 489 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $761 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 $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 23y 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.
• Current owner paid $63k; list at $110k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.97%
• DSCR: 1.71
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $126,480
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3129 Effie St	0.20mi	2/1.0 (-1)	745 (-9%)	4mo	$125,000	$168	66
3176 Carey St	0.15mi	3/1.0	925 (+13%)	4mo	$137,000	$148	65
3224 College St	0.12mi	3/1.0	877 (+8%)	23mo	$89,500	$102	61
784 Pinetree St	0.72mi	3/1.0	935 (+15%)	2mo	$145,000	$155	39

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $6,100
• Equity at exit: $16,401

10-year hold

• IRR: 13.2%
• Equity multiple: 1.98×
• Total profit: $30,253
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,438 high
• Mortgage (P&I): −$577
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $410

Break-even live

Break-even rent $919

Max offer price $110,000

Occupancy floor 66%

Sensitivity live

Price	-10% $472	-5% $441	+0% $410	+5% $379	+10% $348
Rent	-10% $296	-5% $353	+0% $410	+5% $467	+10% $523
Rate	-1.0pp $465	-0.5pp $438	base $410	+0.5pp $381	+1.0pp $352

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2864 Slidell Ave Slidell, LA	3.0	1.0	963	$1,395	$1.45	5d	1	0.54mi
901 Old Spanish Trl Slidell, LA	2.0	1.5	1070	$1,120	$1.05	13d	1	0.76mi
3159 Dee St Slidell, LA	3.0	1.0	898	$1,400	$1.56	45d	1	0.79mi
301 Spartan Dr Slidell, LA	1.0–2.0	1.0–2.0	880	$1,502	$1.71	5d	8	1.03mi
2004 5th St Unit A Slidell, LA	2.0	1.0	900	$1,250	$1.39	25d	1	1.28mi
1112 Cousin St Slidell, LA	2.0	1.0	782	$1,100	$1.41	5d	1	1.34mi
4456 Pontchartrain Dr Unit 7 Slidell, LA	2.0	1.0	850	$995	$1.17	5d	1	1.43mi
4456 Pontchartrain Dr Unit 15 Slidell, LA	2.0	1.0	850	$1,195	$1.41	23d	1	1.44mi

Listing history 5 events

1. 2026-06-21
   days on market $110,000 Active 6 DOM
2. 2026-06-18
   days on market $110,000 Active 3 DOM
3. 2026-06-17
   days on market $110,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $110,000 Active 1 DOM

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $1,238 · $103/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: $17,251
• − Mortgage interest: −$6,162
• − Property taxes: −$1,238
• − Insurance: −$550
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$3,200
• Taxable income: $3,341
• Est. tax owed @ 24.0%: −$802
• After-tax cash flow: $4,116/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

+43.0% since first listed

9 events — show timeline

• 2026-06-05 Listed $110,000 AcadianaMLS
• 2026-06-05 Listed $110,000 GSREIN
• 2008-05-09 Sold (MLS) $63,425 GSREIN
• 2007-11-16 Listed $70,875 GSREIN
• 2007-11-16 Listed $70,875 AcadianaMLS
• 2003-07-23 Sold (Public Records) $80,000 Public Records
• 2003-07-16 Sold (MLS) $80,000 GSREIN
• 2003-03-24 Listed $76,900 GSREIN
• 2003-03-24 Listed $76,900 AcadianaMLS

Property tax history

+1.0%/yr

Latest (2025): $1,238 · -6.1% YoY. Source: county tax records.