937 Morgan Bluff Rd · Pearl River, LA 70452

$339,000

4 bd · 2.5 ba · 3,189 sqft · SingleFamily public records · 100 Days on market

Built 1981 $106/sqft · 13% below area Est $388k · 13% under $4/mo HOA

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Why this score? — see what drove the D+ 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 +15.3/30.0
• ARV discount +13.2/15.0
• DSCR +4.7/10.0
• Schools +4.3/10.0
• 1% rule +3.8/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Magnificent Magnolia Forest, former Parade of Homes beauty located on 1+ acre corner lot. This spacious colonial style home has unique character. Designed with entertaining in mind, kitchen updated in recent years. Balcony views from both primary bedroom and front bedrooms. Large den boasts stone fireplace. Formal dining room has corner custom built in hutch for additional storage and display. Formal living room can be used for entertaining or as an office space. 3rd floor bonus room could be a 5th bedroom or gameroom. Park like grounds with mature trees and shrubs. Shed for additional storage. 2 HVAC units to service the home. Solar panels are leased. Home has never flooded.

Key facts

• 3rd floor bonus room
• Balcony views
• Kitchen updated

Tags

• CORNER LOT
• KITCHEN UPDATED
• BALCONY VIEWS
• STONE FIREPLACE
• CUSTOM BUILT IN HUTCH
• 3RD FLOOR BONUS ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $339k.

Deal economics

• At list price, monthly cash flow is $-306 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (11.5% below list).
• Recommended offer: $285k (15.9% below list) — sets the bar for cash-flow.
• Cap rate 6.7% vs local median 4.0% in Pearl River — 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 51/100 on livability (#419 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment 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: 159 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k 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 100 days — a 9% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y 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

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $285,031 (15.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.88% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 9.4

CMA / ARV

• ARV (median comp): $388,497
• List price: $339,000
• Delta: -12.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 Ormond Dr	0.26mi	5/2.5 (+1)	2,928 (-8%)	0mo	$379,000	$129	69
405 Parlange Dr	0.29mi	4/3.0	2,762 (-13%)	12mo	$300,000	$109	52
411 Parlange Dr	0.34mi	4/3.0	2,865 (-10%)	23mo	$330,000	$115	46
412 Magnolia Ln	0.68mi	4/2.5	3,576 (+12%)	11mo	$505,000	$141	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.22×
• Total profit: $-74,141
• Equity at exit: $50,546

10-year hold

• IRR: -16.8%
• Equity multiple: 0.07×
• Total profit: $-88,601
• Equity at exit: $29,311

Cash invested: $94,920 (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 70452

• Home prices YoY: -26.1%
• Active inventory: 159
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$1,778
• Tax from tax record: −$326 /mo · $3,912/yr
• Insurance: −$141
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$4
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $-306

Break-even live

Break-even rent $3,387

Max offer price $285,031

Occupancy floor —

Sensitivity live

Price	-10% $-114	-5% $-210	+0% $-306	+5% $-401	+10% $-497
Rent	-10% $-543	-5% $-424	+0% $-306	+5% $-187	+10% $-69
Rate	-1.0pp $-135	-0.5pp $-219	base $-306	+0.5pp $-393	+1.0pp $-483

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61258 N Military Rd Slidell, LA	4.0	3.0	2900	$3,000	$1.03	24d	1	0.85mi

HOA detail

• Monthly dues: $4 · $48/yr
• Likely covers: landscaping

Listing history 23 events

1. 2026-06-21
   days on market $339,000 Active 100 DOM
2. 2026-06-18
   days on market $339,000 Active 97 DOM
3. 2026-06-17
   days on market $339,000 Active 96 DOM
4. 2026-06-16
   days on market $339,000 Active 95 DOM
5. 2026-06-15
   days on market $339,000 Active 94 DOM
6. 2026-06-13
   days on market $339,000 Active 92 DOM
7. 2026-06-10
   days on market $339,000 Active 89 DOM
8. 2026-06-09
   days on market $339,000 Active 88 DOM
9. 2026-06-08
   days on market $339,000 Active 87 DOM
10. 2026-06-07
    days on market $339,000 Active 86 DOM
11. 2026-06-03
    days on market $339,000 Active 82 DOM
12. 2026-06-02
    days on market $339,000 Active 81 DOM
13. 2026-06-01
    days on market $339,000 Active 80 DOM
14. 2026-05-31
    days on market $339,000 Active 79 DOM
15. 2026-03-13
    listed $339,000 Active 684-char remark

    Show marketing remark (684 chars)

    Magnificent Magnolia Forest, former Parade of Homes beauty located on 1+ acre corner lot. This spacious colonial style home has unique character. Designed with entertaining in mind, kitchen updated in recent years. Balcony views from both primary bedroom and front bedrooms. Large den boasts stone fireplace. Formal dining room has corner custom built in hutch for additional storage and display. Formal living room can be used for entertaining or as an office space. 3rd floor bonus room could be a 5th bedroom or gameroom. Park like grounds with mature trees and shrubs. Shed for additional storage. 2 HVAC units to service the home. Solar panels are leased. Home has never flooded.

16. 2026-03-13
    listed $339,000 Active 684-char remark

    Show marketing remark (684 chars)

    Magnificent Magnolia Forest, former Parade of Homes beauty located on 1+ acre corner lot. This spacious colonial style home has unique character. Designed with entertaining in mind, kitchen updated in recent years. Balcony views from both primary bedroom and front bedrooms. Large den boasts stone fireplace. Formal dining room has corner custom built in hutch for additional storage and display. Formal living room can be used for entertaining or as an office space. 3rd floor bonus room could be a 5th bedroom or gameroom. Park like grounds with mature trees and shrubs. Shed for additional storage. 2 HVAC units to service the home. Solar panels are leased. Home has never flooded.

17. 2006-09-21
    soldstatus $310,000
18. 2006-09-11
    soldstatus $310,000
19. 2006-01-17
    listed $324,900
20. 2006-01-17
    listed $324,900
21. 1998-03-02
    soldstatus $160,000
22. 1997-12-10
    listed $179,500
23. 1997-12-10
    listed $179,500

ⓘ 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: $3,912 · $326/mo
• Projected year-2 tax: $3,912 · $326/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 AE · 71% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $36,000
• − Mortgage interest: −$18,989
• − Property taxes: −$3,912
• − Insurance: −$6,814
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − HOA: −$48
• − Depreciation: −$9,862
• Taxable loss: −$9,384
• Est. tax savings @ 24.0%: +$2,252
• After-tax cash flow: $-1,414/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 — Pearl River

• Score: 51/100
• State rank: #419
• US rank: #25262

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,290

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Black 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 11% Romanian 1% Italian 1%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -55.29%
• Current HPI: 156.9714
• Rent YoY: —
• Metro: —
• 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

+88.9% since first listed

9 events — show timeline

• 2026-03-13 Listed $339,000 GSREIN
• 2026-03-13 Listed $339,000 AcadianaMLS
• 2006-09-21 Sold (Public Records) $310,000 Public Records
• 2006-09-11 Sold (MLS) $310,000 GSREIN
• 2006-01-17 Listed $324,900 GSREIN
• 2006-01-17 Listed $324,900 AcadianaMLS
• 1998-03-02 Sold (MLS) $160,000 GSREIN
• 1997-12-10 Listed $179,500 GSREIN
• 1997-12-10 Listed $179,500 AcadianaMLS

Property tax history

-1.1%/yr

Latest (2025): $3,912 · -3.9% YoY. Source: county tax records.