2427 Biron St · Mandeville, LA 70448

$224,000

3 bd · 2.0 ba · 1,595 sqft · SingleFamily public records · 37 Days on market

Built 1994 7,840 sqft lot $140/sqft · 13% below area Est $283k · 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 +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to comfort, flexibility, and an unbeatable location! Nestled in an established neighborhood within a highly preferred school district, this inviting 3-bedroom, 2-bath home offers the perfect blend of everyday convenience and functional living. Just minutes from the beautiful Lake Pontchartrain lakefront, The Trace, shopping, dining, and quick access to I-12, you'll love how connected this home feels to everything the area has to offer. Inside, the spacious and versatile flex room provides endless possibilities -- create the perfect home office, media room, playroom, fitness space, or cozy den tailored to your lifestyle. Thoughtful updates bring added value and peace of mind, including a water well installed in 2022 along with indoor and outdoor HVAC units replaced in 2022 for improved comfort and efficiency. Step outside to enjoy a generously sized backyard designed for relaxing evenings, gatherings with friends, or weekend projects. The impressive 16x20 workshop/shed includes electricity, partial insulation, and its own window A/C unit, making it ideal for hobbies, storage, a workspace, or additional entertaining potential. A multi-car driveway adds even more convenience for homeowners and guests alike. As an added bonus, the seller's VA loan is assumable for qualified buyers -- presenting an incredible opportunity in today's market. This home truly offers the space, versatility, and location buyers have been searching for. Schedule your private showing today and come experience all it has to offer!

Key facts

• Water well
• Multi-car driveway
• 16x20 workshop

Tags

• WATER WELL
• INDOOR AND OUTDOOR HVAC UNITS
• GENEROUSLY SIZED BACKYARD
• 16X20 WORKSHOP
• MULTI-CAR DRIVEWAY

Property features AI

Exterior

• Parking: Driveway with two parking spaces
• Security: Smoke detectors installed
• Utilities: Private well water; Septic tank sewer; Central heating; Central air conditioning
• Home design: Single-story home; Brick, stucco, and vinyl siding exterior; Shingle roof; Average condition; Slab foundation
• Construction: Built with brick, stucco, and vinyl siding; Shingle roof; Slab foundation
• Exterior features: Fenced yard; Detached shed(s); Rectangular lot approximately 66 x 113; Located outside city limits

Interior

• Kitchen: Cooktop; Microwave; Oven; Refrigerator
• Bedrooms: Includes multiple bedrooms (total rooms listed: 10)
• Bathrooms: Two full bathrooms
• Interior features: Attic with pull-down stairs; Ceiling fans; Carbon monoxide detector; High-speed internet available; Wood-burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $224k.

Deal economics

• At list price, monthly cash flow is $47 ($568/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 $197k (12.3% below list).
• Recommended offer: $197k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.5% in Mandeville — 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 (#13 in LA, #3,224 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing 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 (+1.1%/yr); 260 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 37 days — a 3% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 28y 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 $185k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,527 (12.3% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 9.5

CMA / ARV

• ARV (median comp): $282,512
• List price: $224,000
• Delta: -20.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2155 Biron St	0.24mi	3/2.0	1,548 (-3%)	1mo	$260,000	$168	83
2761 Rue Weller St	0.15mi	3/2.0	1,488 (-7%)	3mo	$210,000	$141	80
623 Beaulieux St	0.16mi	3/2.0	1,708 (+7%)	3mo	$319,130	$187	79
701 Armand St	0.28mi	3/2.0	1,554 (-3%)	8mo	$200,000	$129	76
2010 Rue Pickney St	0.34mi	3/2.0	1,746 (+10%)	1mo	$255,000	$146	68
2018 Steven St	0.36mi	3/2.0	1,455 (-9%)	8mo	$258,000	$177	62
928 Nancy St	0.51mi	3/2.0	1,737 (+9%)	2mo	$305,000	$176	60
2366 Soult St	0.61mi	3/2.0	1,702 (+7%)	1mo	$311,500	$183	60
1873 Octavia Dr	0.60mi	3/2.0	1,752 (+10%)	6mo	$320,000	$183	50
1720 Dupre St	0.72mi	3/2.0	1,475 (-8%)	7mo	$259,000	$176	48
2425 Cours Carson St	0.61mi	3/3.0	1,797 (+13%)	3mo	$365,000	$203	44
2321 Cours Carson St	0.71mi	3/2.0	1,800 (+13%)	5mo	$384,900	$214	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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-37,041
• Equity at exit: $33,399

10-year hold

• IRR: -12.8%
• Equity multiple: 0.31×
• Total profit: $-43,210
• Equity at exit: $19,367

Cash invested: $62,720 (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 70448

• Rents YoY: 1.1%
• Active inventory: 260
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$1,175
• Tax from tax record: −$112 /mo · $1,344/yr
• Insurance: −$93
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $47

Break-even live

Break-even rent $1,905

Max offer price $224,000

Occupancy floor 93%

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2440 Biron St Mandeville, LA	3.0	2.0	1250	$1,750	$1.40	3d	1	0.04mi
2630 Rue Weller Mandeville, LA	3.0	2.0	1288	$2,000	$1.55	23d	1	0.12mi
735 Nancy St Mandeville, LA	3.0	2.0	1250	$1,650	$1.32	43d	1	0.34mi
909 Chevreuil St Mandeville, LA	3.0	2.0	1561	$2,300	$1.47	14d	1	0.49mi
805 Norval St Mandeville, LA	3.0	2.0	1600	$2,000	$1.25	3d	1	0.54mi
817 Norval St Mandeville, LA	3.0	2.0	1518	$1,950	$1.28	43d	1	0.56mi
2058 Olvey Dr Mandeville, LA	4.0	2.0	2105	$2,575	$1.22	21d	1	0.92mi
1010 Elmer St Mandeville, LA	3.0	2.0	1219	$1,600	$1.31	43d	1	0.92mi
22475 Louisiana 1088 Mandeville, LA	3.0	2.0	1120	$1,300	$1.16	43d	1	0.99mi
143 Remmy Ct Mandeville, LA	2.0	2.0	1200	$1,600	$1.33	23d	1	1.32mi

Listing history 31 events

1. 2026-06-18
   days on market $224,000 Active 37 DOM
2. 2026-06-17
   days on market $224,000 Active 36 DOM
3. 2026-06-16
   days on market $224,000 Active 35 DOM
4. 2026-06-15
   days on market $224,000 Active 34 DOM
5. 2026-06-13
   days on market $224,000 Active 32 DOM
6. 2026-06-10
   days on market $224,000 Active 29 DOM
7. 2026-06-09
   days on market $224,000 Active 28 DOM
8. 2026-06-08
   days on market $224,000 Active 27 DOM
9. 2026-06-07
   days on market $224,000 Active 26 DOM
10. 2026-06-03
    days on market $224,000 Active 22 DOM
11. 2026-06-02
    days on market $224,000 Active 21 DOM
12. 2026-06-01
    days on market $224,000 Active 20 DOM
13. 2026-05-31
    days on market $224,000 Active 19 DOM
14. 2026-05-12
    listed $224,000 Active 1538-char remark

    Show marketing remark (1538 chars)

    Welcome home to comfort, flexibility, and an unbeatable location! Nestled in an established neighborhood within a highly preferred school district, this inviting 3-bedroom, 2-bath home offers the perfect blend of everyday convenience and functional living. Just minutes from the beautiful Lake Pontchartrain lakefront, The Trace, shopping, dining, and quick access to I-12, you'll love how connected this home feels to everything the area has to offer. Inside, the spacious and versatile flex room provides endless possibilities -- create the perfect home office, media room, playroom, fitness space, or cozy den tailored to your lifestyle. Thoughtful updates bring added value and peace of mind, including a water well installed in 2022 along with indoor and outdoor HVAC units replaced in 2022 for improved comfort and efficiency. Step outside to enjoy a generously sized backyard designed for relaxing evenings, gatherings with friends, or weekend projects. The impressive 16x20 workshop/shed includes electricity, partial insulation, and its own window A/C unit, making it ideal for hobbies, storage, a workspace, or additional entertaining potential. A multi-car driveway adds even more convenience for homeowners and guests alike. As an added bonus, the seller's VA loan is assumable for qualified buyers -- presenting an incredible opportunity in today's market. This home truly offers the space, versatility, and location buyers have been searching for. Schedule your private showing today and come experience all it has to offer!

15. 2026-05-12
    listed $224,000 Active 1566-char remark

    Show marketing remark (1538 chars)

    Welcome home to comfort, flexibility, and an unbeatable location! Nestled in an established neighborhood within a highly preferred school district, this inviting 3-bedroom, 2-bath home offers the perfect blend of everyday convenience and functional living. Just minutes from the beautiful Lake Pontchartrain lakefront, The Trace, shopping, dining, and quick access to I-12, you'll love how connected this home feels to everything the area has to offer. Inside, the spacious and versatile flex room provides endless possibilities -- create the perfect home office, media room, playroom, fitness space, or cozy den tailored to your lifestyle. Thoughtful updates bring added value and peace of mind, including a water well installed in 2022 along with indoor and outdoor HVAC units replaced in 2022 for improved comfort and efficiency. Step outside to enjoy a generously sized backyard designed for relaxing evenings, gatherings with friends, or weekend projects. The impressive 16x20 workshop/shed includes electricity, partial insulation, and its own window A/C unit, making it ideal for hobbies, storage, a workspace, or additional entertaining potential. A multi-car driveway adds even more convenience for homeowners and guests alike. As an added bonus, the seller's VA loan is assumable for qualified buyers -- presenting an incredible opportunity in today's market. This home truly offers the space, versatility, and location buyers have been searching for. Schedule your private showing today and come experience all it has to offer!

16. 2026-03-27
    price $229,900
17. 2026-03-27
    price $229,900
18. 2026-02-19
    price $234,900
19. 2026-02-19
    price $234,900
20. 2025-11-26
    price $239,900
21. 2025-11-19
    price $245,000
22. 2025-11-12
    listed $239,900 Active
23. 2025-06-27
    listed $253,500 Active
24. 2006-07-07
    soldstatus $185,000
25. 2006-06-30
    soldstatus $185,000
26. 2006-05-27
    listed $185,000
27. 2006-05-27
    listed $185,000
28. 1998-11-03
    soldstatus $102,000
29. 1998-10-29
    soldstatus $102,000
30. 1998-09-16
    listed $102,000
31. 1998-09-16
    listed $102,000

ⓘ 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: $1,344 · $112/mo
• Projected year-2 tax: $1,344 · $112/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 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $23,583
• − Mortgage interest: −$12,547
• − Property taxes: −$1,344
• − Insurance: −$2,622
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − Depreciation: −$6,516
• Taxable loss: −$3,220
• Est. tax savings @ 24.0%: +$773
• After-tax cash flow: $1,341/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

Amenities F Commute F Cost of living C 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: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 26,338
• Household income: $95,682
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 320.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 16% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -113.97%
• Current HPI: 179.9084
• Rent YoY: ▲ 1.06%
• 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

+119.6% since first listed

18 events — show timeline

• 2026-05-12 Listed $224,000 GSREIN
• 2026-05-12 Listed $224,000 AcadianaMLS
• 2026-03-27 Price Changed $229,900 AcadianaMLS
• 2026-03-27 Price Changed $229,900 GSREIN
• 2026-02-19 Price Changed $234,900 AcadianaMLS
• 2026-02-19 Price Changed $234,900 GSREIN
• 2025-11-26 Price Changed $239,900 GSREIN
• 2025-11-19 Price Changed $245,000 GSREIN
• 2025-11-12 Listed $239,900 AcadianaMLS
• 2025-06-27 Listed $253,500 AcadianaMLS
• 2006-07-07 Sold (Public Records) $185,000 Public Records
• 2006-06-30 Sold (MLS) $185,000 GSREIN
• 2006-05-27 Listed $185,000 AcadianaMLS
• 2006-05-27 Listed $185,000 GSREIN
• 1998-11-03 Sold (Public Records) $102,000 Public Records
• 1998-10-29 Sold (MLS) $102,000 GSREIN
• 1998-09-16 Listed $102,000 GSREIN
• 1998-09-16 Listed $102,000 AcadianaMLS

Property tax history

-3.0%/yr

Latest (2025): $1,344 · -3.5% YoY. Source: county tax records.