205 Summer Place Cv · Slidell, LA 70461

$280,000

4 bd · 2.0 ba · 2,063 sqft · SingleFamily public records · 129 Days on market

Built 2004 9,583 sqft lot $136/sqft · 18% below area Est $339k · 17% under $8/mo HOA

---

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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.1/10.0
• 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

Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience - all in one!

Key facts

• Open floor plan
• Fenced yard
• Master spa bath

Tags

• OPEN FLOOR PLAN
• MASTER SPA BATH
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.9% in Slidell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: Rents rising (+1.7%/yr); 594 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 38% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 129 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y ago; this cycle's ask has dropped $28.72M (99%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.01% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.88%
• DSCR: 1.22
• GRM: 8.3

CMA / ARV

• ARV (median comp): $338,828
• List price: $280,000
• Delta: -17.36%
• 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
59398 Spring Dr	0.22mi	4/2.0	2,076 (+1%)	7mo	$249,900	$120	83
59380 Summer Rd	0.23mi	3/2.0 (-1)	1,939 (-6%)	3mo	$207,600	$107	72
307 N Buckingham Dr	0.34mi	4/2.0	2,260 (+10%)	1mo	$265,000	$117	67
361 Autumn Lakes Rd	0.21mi	4/2.5	2,250 (+9%)	13mo	$350,000	$156	62
373 Autumn Lakes Rd	0.21mi	5/2.5 (+1)	2,353 (+14%)	0mo	$348,000	$148	60
511 Cross Gates Blvd	0.45mi	4/2.0	2,281 (+11%)	4mo	$325,000	$142	59
304 River Landing Dr	0.32mi	3/2.5 (-1)	2,204 (+7%)	14mo	$460,000	$209	55
393 Cross Gates Blvd	0.61mi	3/2.0 (-1)	2,083 (+1%)	13mo	$320,000	$154	54
101 Herwig Bluff Rd	0.61mi	4/2.0	2,154 (+4%)	13mo	$293,000	$136	54
543 Cross Gates Blvd	0.51mi	4/2.0	2,328 (+13%)	3mo	$300,000	$129	52
513 Cross Gates Blvd	0.44mi	4/2.0	2,271 (+10%)	15mo	$341,885	$151	50
105 S Buckingham Dr	0.52mi	4/2.0	1,841 (-11%)	13mo	$290,000	$158	47

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-28,642
• Equity at exit: $41,749

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-13,050
• Equity at exit: $24,209

Cash invested: $78,400 (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 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 594
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,821 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$317 /mo · $3,803/yr
• Insurance: −$117
• HOA: −$8
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $319

Break-even live

Break-even rent $2,418

Max offer price $280,000

Occupancy floor 84%

Sensitivity live

Price	-10% $477	-5% $398	+0% $319	+5% $239	+10% $160
Rent	-10% $96	-5% $207	+0% $319	+5% $430	+10% $541
Rate	-1.0pp $460	-0.5pp $390	base $319	+0.5pp $246	+1.0pp $172

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,500	$1.56	45d	1	0.20mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,000	$1.33	13d	1	0.20mi
507 Cross Gates Blvd Slidell, LA	3.0	2.0	2045	$2,150	$1.05	24d	1	0.47mi
555 Cross Gates Blvd Slidell, LA	4.0	2.5	2300	$2,425	$1.05	45d	1	0.62mi
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	24d	1	1.23mi
1305 Spring Ridge Cir Slidell, LA	4.0	3.0	2950	$3,350	$1.14	13d	1	1.25mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 37 events

1. 2026-06-21
   days on market $280,000 Active 129 DOM
2. 2026-06-18
   days on market $280,000 Active 126 DOM
3. 2026-06-17
   days on market $280,000 Active 125 DOM
4. 2026-06-16
   days on market $280,000 Active 124 DOM
5. 2026-06-15
   days on market $280,000 Active 123 DOM
6. 2026-06-13
   days on market $280,000 Active 121 DOM
7. 2026-06-10
   days on market $280,000 Active 118 DOM
8. 2026-06-09
   days on market $280,000 Active 117 DOM
9. 2026-06-08
   days on market $280,000 Active 116 DOM
10. 2026-06-07
    days on market $280,000 Active 115 DOM
11. 2026-06-03
    days on market $280,000 Active 111 DOM
12. 2026-06-02
    days on market $280,000 Active 110 DOM
13. 2026-06-01
    days on market $280,000 Active 109 DOM
14. 2026-05-31
    days on market $280,000 Active 108 DOM
15. 2026-04-02
    price $280,000 152-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

16. 2026-04-02
    price $280,000 158-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

17. 2026-03-28
    price $285,000 152-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

18. 2026-03-28
    price $285,000 158-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

19. 2026-03-08
    status Active 158-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

20. 2026-02-12
    price $290,000 158-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

21. 2026-02-11
    listed $290,000 Active 152-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

22. 2026-02-11
    listed $29,000,000 Active 158-char remark

    Show marketing remark (158 chars)

    Hot Listing in Autumn Lakes! 4 bedrooms, 2 baths, open floor plan, master spa bath, fenced yard, 2-car garage. Comfort, style, convenience – all in one!

23. 2020-10-29
    soldstatus $279,900 Closed
24. 2020-09-18
    status Pending
25. 2020-09-01
    status Active
26. 2020-08-21
    status Pending
27. 2020-06-02
    price $279,900
28. 2020-05-23
    listed $285,000 Active
29. 2020-05-23
    listed $279,900
30. 2005-12-22
    soldstatus $267,500
31. 2005-12-21
    soldstatus $267,500
32. 2005-11-29
    listed $267,500
33. 2005-11-29
    listed $267,500
34. 2005-01-07
    soldstatus $221,400
35. 2005-01-03
    soldstatus $221,400
36. 2004-12-20
    listed $221,400
37. 2004-12-20
    listed $221,400

ⓘ 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: $3,803 · $317/mo
• Projected year-2 tax: $3,803 · $317/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 5/10 Major FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $33,851
• − Mortgage interest: −$15,684
• − Property taxes: −$3,803
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,708
• − Management: −$2,708
• − HOA: −$96
• − Depreciation: −$8,145
• Taxable loss: −$694
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $3,990/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

• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 34,808
• Household income: $89,003
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 328.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 14% Hispanic / Latino 11% Asian 3%
• Common ancestry: Lithuanian 9% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 7% Chinese 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: ▼ -74.47%
• Current HPI: 151.3353
• Rent YoY: ▲ 1.72%
• 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

+26.5% since first listed

23 events — show timeline

• 2026-04-02 Price Changed $280,000 AcadianaMLS
• 2026-04-02 Price Changed $280,000 GBRMLS
• 2026-03-28 Price Changed $285,000 AcadianaMLS
• 2026-03-28 Price Changed $285,000 GBRMLS
• 2026-03-08 Relisted — GBRMLS
• 2026-02-12 Price Changed $290,000 GBRMLS
• 2026-02-11 Listed $29,000,000 GBRMLS
• 2026-02-11 Listed $290,000 AcadianaMLS
• 2020-10-29 Sold (MLS) $279,900 GSREIN
• 2020-09-18 Pending — GSREIN
• 2020-09-01 Relisted — GSREIN
• 2020-08-21 Pending — GSREIN
• 2020-06-02 Price Changed $279,900 GSREIN
• 2020-05-23 Listed $279,900 AcadianaMLS
• 2020-05-23 Listed $285,000 GSREIN
• 2005-12-22 Sold (Public Records) $267,500 Public Records
• 2005-12-21 Sold (MLS) $267,500 GSREIN
• 2005-11-29 Listed $267,500 GSREIN
• 2005-11-29 Listed $267,500 AcadianaMLS
• 2005-01-07 Sold (Public Records) $221,400 Public Records
• 2005-01-03 Sold (MLS) $221,400 GSREIN
• 2004-12-20 Listed $221,400 GSREIN
• 2004-12-20 Listed $221,400 AcadianaMLS

Property tax history

+0.7%/yr

Latest (2025): $3,803 · -3.8% YoY. Source: county tax records.