19459 Slemmer Rd · Covington, LA 70433

$175,000

3 bd · 2.0 ba · 1,225 sqft · SingleFamily public records · 257 Days on market

Built 2007 4,791 sqft lot $143/sqft · 21% below area Est $221k · 21% under

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Why this score? — see what drove the C+ 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

Key facts

• Large yard
• New hvac system
• 4,791 sq ft lot

Tags

• NEW HVAC SYSTEM
• LARGE YARD
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (7.9% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 524 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 19y ago; this cycle's ask is 10838% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.92% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 9.1

CMA / ARV

• ARV (median comp): $221,242
• List price: $175,000
• Delta: -20.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
243 S Orchard St	0.37mi	2/2.0 (-1)	1,380 (+13%)	5mo	$315,000	$228	52
20402 Doris Rd	0.74mi	3/2.0	1,152 (-6%)	4mo	$175,000	$152	52
231 S Orchard Ln	0.38mi	2/2.0 (-1)	1,400 (+14%)	3mo	$330,000	$236	51

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-11,508
• Equity at exit: $26,093

10-year hold

• IRR: 4.7%
• Equity multiple: 1.36×
• Total profit: $17,752
• Equity at exit: $15,131

Cash invested: $49,000 (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 70433

• Rents YoY: 4.3%
• Active inventory: 524
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,611 high
• Mortgage (P&I): −$918
• Tax from tax record: −$50 /mo · $603/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $232

Break-even live

Break-even rent $1,318

Max offer price $175,000

Occupancy floor 81%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19425 Slemmer Rd Unit 2 Covington, LA	3.0	2.0	1100	$1,100	$1.00	21d	1	0.06mi
100 Covington Meadow Cir Unit D Covington, LA	3.0	2.5	1356	$1,600	$1.18	17d	1	0.15mi
104 Covington Meadow Cir Unit I Covington, LA	3.0	2.5	1476	$1,600	$1.08	24d	1	0.17mi
103 Covington Meadow Cir Unit F Covington, LA	3.0	2.5	1476	$1,700	$1.15	44d	1	0.19mi
103 Covington Meadow Cir Unit E Covington, LA	3.0	2.5	1476	$1,700	$1.15	24d	1	0.19mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	3d	1	0.42mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,407	$1.46	2d	9	0.55mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,525	$2.34	2d	12	0.67mi
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,600	$1.89	12d	2	0.72mi
219 Beech St Covington, LA	3.0	2.0	1250	$1,500	$1.20	44d	1	1.00mi
126 Pear St Unit A Covington, LA	3.0	2.0	1383	$1,600	$1.16	24d	1	1.01mi
1612 Versailles Business Pkwy Covington, LA	1.0–2.0	1.0–2.0	1009	$2,089	$2.07	2d	31	1.13mi
70040 2nd St Covington, LA	3.0	2.0	1416	$2,000	$1.41	3d	1	1.16mi
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	3d	1	1.19mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,856	$2.16	2d	18	1.32mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	24d	1	1.36mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	17d	1	1.48mi

Listing history 50 events

1. 2026-06-18
   days on market $175,000 Active 257 DOM
2. 2026-06-17
   days on market $175,000 Active 256 DOM
3. 2026-06-16
   days on market $175,000 Active 255 DOM
4. 2026-06-15
   days on market $175,000 Active 254 DOM
5. 2026-06-13
   days on market $175,000 Active 252 DOM
6. 2026-06-10
   days on market $175,000 Active 249 DOM
7. 2026-06-09
   days on market $175,000 Active 248 DOM
8. 2026-06-08
   days on market $175,000 Active 247 DOM
9. 2026-06-07
   days on market $175,000 Active 246 DOM
10. 2026-06-03
    days on market $175,000 Active 242 DOM
11. 2026-06-02
    days on market $175,000 Active 241 DOM
12. 2026-06-01
    days on market $175,000 Active 240 DOM
13. 2026-05-31
    days on market $175,000 Active 239 DOM
14. 2026-04-03
    status Active 369-char remark

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

15. 2026-03-08
    historical $1,500
16. 2026-01-29
    price $1,500
17. 2026-01-01
    listed $1,600
18. 2025-12-31
    price $175,000 369-char remark

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

19. 2025-12-31
    price $175,000

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

20. 2025-11-29
    price $185,000 369-char remark

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

21. 2025-11-10
    price $185,000
22. 2025-10-27
    price $190,000 369-char remark

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

23. 2025-10-27
    price $190,000

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

24. 2025-09-29
    listed $200,000 Active 369-char remark

    Show marketing remark (369 chars)

    Centrally located 3-bed, 2-bath home at 19459 Slemmer Rd, recently updated with a brand new HVAC system. Perfect as a starter home for new homeowners or a solid rental investment, it offers an open layout, spacious bedrooms, and a large yard with easy access to schools, shopping, and major roadways. Turnkey and move-in ready! Terms for Bond for Deed to be negotiated!

25. 2021-10-19
    soldstatus $160,000
26. 2021-10-18
    soldstatus $160,000 Closed
27. 2021-07-25
    status Pending
28. 2021-07-24
    status Active
29. 2021-07-15
    status Pending
30. 2021-06-25
    listed $159,900
31. 2021-06-25
    listed $159,900 Active
32. 2021-03-11
    soldstatus $99,500 Closed
33. 2021-03-11
    soldstatus $99,500
34. 2021-02-12
    status Pending
35. 2021-02-09
    status Active
36. 2021-02-06
    status Pending
37. 2021-02-04
    listed $99,500 Active
38. 2021-02-04
    listed $99,500
39. 2017-11-21
    historical
40. 2017-06-19
    price $110,000
41. 2017-06-06
    listed $120,000 Active
42. 2017-06-06
    listed $110,000
43. 2015-03-27
    soldstatus $78,000
44. 2015-01-16
    listed $89,900
45. 2015-01-16
    listed $89,900
46. 2014-03-08
    listed $99,900
47. 2014-03-08
    listed $99,900
48. 2011-04-13
    listed $119,900
49. 2011-04-13
    listed $119,900
50. 2009-11-06
    listed $125,000

ⓘ 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: $603 · $50/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: +$359/yr (+$30/mo · 59.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $19,335
• − Mortgage interest: −$9,803
• − Property taxes: −$603
• − Insurance: −$875
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$5,091
• Taxable loss: −$130
• Est. tax savings @ 24.0%: +$31
• After-tax cash flow: $2,815/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): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1287.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

-90.6% since first listed

43 events — show timeline

• 2026-04-03 Relisted — AcadianaMLS
• 2026-03-08 Rental Removed $1,500 GSREIN
• 2026-01-29 Price Changed $1,500 GSREIN
• 2026-01-01 Listed for Rent $1,600 GSREIN
• 2025-12-31 Price Changed $175,000 AcadianaMLS
• 2025-12-31 Price Changed $175,000 GSREIN
• 2025-11-29 Price Changed $185,000 AcadianaMLS
• 2025-11-10 Price Changed $185,000 GSREIN
• 2025-10-27 Price Changed $190,000 AcadianaMLS
• 2025-10-27 Price Changed $190,000 GSREIN
• 2025-09-29 Listed $200,000 AcadianaMLS
• 2021-10-19 Sold (Public Records) $160,000 Public Records
• 2021-10-18 Sold (MLS) $160,000 GSREIN
• 2021-07-25 Pending — GSREIN
• 2021-07-24 Relisted — GSREIN
• 2021-07-15 Pending — GSREIN
• 2021-06-25 Listed $159,900 GSREIN
• 2021-06-25 Listed $159,900 AcadianaMLS
• 2021-03-11 Sold (Public Records) $99,500 Public Records
• 2021-03-11 Sold (MLS) $99,500 GSREIN
• 2021-02-12 Pending — GSREIN
• 2021-02-09 Relisted — GSREIN
• 2021-02-06 Pending — GSREIN
• 2021-02-04 Listed $99,500 AcadianaMLS
• 2021-02-04 Listed $99,500 GSREIN
• 2017-11-21 Listing Removed — GSREIN
• 2017-06-19 Price Changed $110,000 GSREIN
• 2017-06-06 Listed $120,000 GSREIN
• 2017-06-06 Listed $110,000 AcadianaMLS
• 2015-03-27 Sold (MLS) $78,000 GSREIN
• 2015-01-16 Listed $89,900 AcadianaMLS
• 2015-01-16 Listed $89,900 GSREIN
• 2014-03-08 Listed $99,900 GSREIN
• 2014-03-08 Listed $99,900 AcadianaMLS
• 2011-04-13 Listed $119,900 GSREIN
• 2011-04-13 Listed $119,900 AcadianaMLS
• 2009-11-06 Listed $125,000 GSREIN
• 2009-11-06 Listed $125,000 AcadianaMLS
• 2008-12-30 Listed $129,900 GSREIN
• 2008-12-30 Listed $129,900 AcadianaMLS
• 2007-10-22 Listed $129,900 GSREIN
• 2007-10-22 Listed $129,900 AcadianaMLS
• 2006-03-20 Sold (Public Records) $16,000 Public Records

Property tax history

-8.2%/yr

Latest (2025): $603 · -3.6% YoY. Source: county tax records.