22556 3rd St · Abita Springs, LA 70471

$242,000

3 bd · 2.0 ba · 1,542 sqft · SingleFamily public records · 63 Days on market

Built 2001 $157/sqft · 13% below area Est $281k · 14% under

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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 +14.7/30.0
• ARV discount +13.7/15.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect home base for your Northshore lifestyle! Located just minutes from the vibrant heart of Abita Springs, this home puts you at the doorstep of the best weekend activities in the area—from biking the Tammany Trace to exploring the local farmers market and trailhead. Set on a generous lot with an expansive backyard, there is plenty of room to roam, garden, or play. Beat the summer heat in the above-ground pool, making your backyard the ultimate destination for relaxation after a Saturday spent exploring. Plus, with quick access to Highway 190, you’re perfectly positioned for an easy commute while enjoying the peaceful atmosphere of Abita living.

Key facts

• Generous lot
• Expansive backyard
• Above-ground pool

Tags

• GENEROUS LOT
• EXPANSIVE BACKYARD
• ABOVE-GROUND POOL
• QUICK ACCESS TO HIGHWAY 190

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $242k.

Deal economics

• At list price, monthly cash flow is $61 ($731/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 $193k (20.4% below list).
• Recommended offer: $193k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.5% in Abita Springs — 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 77/100 on livability (#11 in LA, #3,024 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living 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 (+3.3%/yr); 225 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); 75% 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 $2k of loan paydown is wiped out by about $7k 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 63 days — a 6% lower offer ($227k) 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; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,589 (20.4% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 20% 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 A-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. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (median comp): $280,545
• List price: $242,000
• Delta: -13.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22562 2nd St	0.09mi	3/2.0	1,701 (+10%)	10mo	$270,000	$159	70
70083 Nancy Rd	0.42mi	3/2.0	1,688 (+10%)	15mo	$307,000	$182	52
70287 Menuet St	0.60mi	4/2.0 (+1)	1,492 (-3%)	12mo	$259,000	$174	52
70343 Petit Rd	0.70mi	3/2.0	1,501 (-3%)	22mo	$304,000	$203	44
70341 Menuet St	0.61mi	3/2.0	1,355 (-12%)	13mo	$280,000	$207	41

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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: -14.3%
• Equity multiple: 0.49×
• Total profit: $-34,811
• Equity at exit: $36,083

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-23,156
• Equity at exit: $20,924

Cash invested: $67,760 (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 70471

• Home prices YoY: -29.2%
• Rents YoY: 3.3%
• Active inventory: 225
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,926 medium
• Mortgage (P&I): −$1,269
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $61

Break-even live

Break-even rent $1,849

Max offer price $242,000

Occupancy floor 92%

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: $60,500
• Closing costs: $7,260
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70150 Tee Bourg Ln Mandeville, LA	3.0	2.0	1850	$1,700	$0.92	43d	1	0.67mi
501 Autumn Wind Ln Mandeville, LA	3.0	2.0	2091	$2,400	$1.15	23d	1	0.87mi
2093 Dundee Loop N Abita Springs, LA	3.0	2.5	1449	$1,750	$1.21	43d	1	1.23mi
71187 Sanders St Abita Springs, LA	3.0	2.0	1130	$2,200	$1.95	43d	1	1.28mi

Listing history 16 events

1. 2026-06-18
   days on market $242,000 Active 63 DOM
2. 2026-06-17
   days on market $242,000 Active 62 DOM
3. 2026-06-16
   days on market $242,000 Active 61 DOM
4. 2026-06-15
   price $242,000 Active 60 DOM
5. 2026-06-15
   days on market $245,000 Active 60 DOM
6. 2026-06-13
   days on market $245,000 Active 58 DOM
7. 2026-06-10
   days on market $245,000 Active 55 DOM
8. 2026-06-09
   days on market $245,000 Active 54 DOM
9. 2026-06-08
   days on market $245,000 Active 53 DOM
10. 2026-06-07
    days on market $245,000 Active 52 DOM
11. 2026-06-03
    days on market $245,000 Active 48 DOM
12. 2026-06-02
    days on market $245,000 Active 47 DOM
13. 2026-06-01
    days on market $245,000 Active 46 DOM
14. 2026-05-31
    days on market $245,000 Active 45 DOM
15. 2026-04-16
    listed $250,000 Active 682-char remark

    Show marketing remark (671 chars)

    Discover the perfect home base for your Northshore lifestyle! Located just minutes from the vibrant heart of Abita Springs, this home puts you at the doorstep of the best weekend activities in the area--from biking the Tammany Trace to exploring the local farmers market and trailhead. Set on a generous lot with an expansive backyard, there is plenty of room to roam, garden, or play. Beat the summer heat in the above-ground pool, making your backyard the ultimate destination for relaxation after a Saturday spent exploring. Plus, with quick access to Highway 190, you're perfectly positioned for an easy commute while enjoying the peaceful atmosphere of Abita living.

16. 2026-04-16
    listed $250,000 Active 671-char remark

    Show marketing remark (671 chars)

    Discover the perfect home base for your Northshore lifestyle! Located just minutes from the vibrant heart of Abita Springs, this home puts you at the doorstep of the best weekend activities in the area--from biking the Tammany Trace to exploring the local farmers market and trailhead. Set on a generous lot with an expansive backyard, there is plenty of room to roam, garden, or play. Beat the summer heat in the above-ground pool, making your backyard the ultimate destination for relaxation after a Saturday spent exploring. Plus, with quick access to Highway 190, you're perfectly positioned for an easy commute while enjoying the peaceful atmosphere of Abita living.

ⓘ 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: $1,087 · $91/mo
• Projected year-2 tax: $1,331 · $111/mo
• Expected delta: +$244/yr (+$20/mo · 22.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,111
• − Mortgage interest: −$13,556
• − Property taxes: −$1,087
• − Insurance: −$1,210
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − Depreciation: −$7,040
• Taxable loss: −$3,480
• Est. tax savings @ 24.0%: +$835
• After-tax cash flow: $1,567/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 — Abita Springs

• Score: 77/100
• State rank: #11
• US rank: #3024

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B 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
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 24,199
• Household income: $96,501
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 475.0

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% Two or more races 8% Hispanic / Latino 8% Asian 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 15% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -77.41%
• Current HPI: 188.0159
• Rent YoY: ▲ 3.32%
• 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

• 2026-04-16 Listed $250,000 AcadianaMLS
• 2026-04-16 Listed $250,000 GSREIN

Property tax history

-4.6%/yr

Latest (2025): $1,087 · -3.6% YoY. Source: county tax records.