2410 Pelican St · Slidell, LA 70460

$199,900

3 bd · 2.0 ba · 1,225 sqft · SingleFamily public records · 98 Days on market

Built 1986 $163/sqft · at area comps Est $201k · at est.

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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 +18.0/30.0
• ARV discount +7.7/15.0
• DSCR +5.7/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2410 Pelican St in Slidell offers major updates and move-in ready convenience. The roof, HVAC system, water heater, and septic tank were all replaced in 2022, giving you peace of mind on the big-ticket items. Inside, you'll find durable luxury vinyl plank flooring, stainless steel appliances, updated light fixtures, and new window screens throughout. The functional layout provides comfortable everyday living with an easy flow for entertaining. Situated in Flood Zone C, this home also offers a convenient location for commuters with quick access to I-10 and I-12, making travel to New Orleans, the Northshore, or Mississippi a breeze. Well-maintained, thoughtfully updated, and ready for its next owner!

Key facts

• Replaced hvac system
• Replaced roof
• Major updates

Tags

• MAJOR UPDATES
• MOVE IN READY
• REPLACED ROOF
• REPLACED HVAC SYSTEM
• REPLACED WATER HEATER
• REPLACED SEPTIC TANK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/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 $177k (11.6% below list).
• Recommended offer: $177k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 fast (+5.9%/yr); 241 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $6k 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 98 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 25y 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

• Climate carrying-cost: major flood risk; 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 $176,671 (11.6% below list)

Questions for the listing agent

1. It's been on market 98 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. 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: 0.88% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.71%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

• ARV (median comp): $200,773
• List price: $199,900
• Delta: -0.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2406 Bluebird St	0.06mi	3/2.0	1,218 (-1%)	0mo	$175,000	$144	96
2523 Bluebird St	0.19mi	3/2.0	1,222 (-0%)	2mo	$155,000	$127	89
2502 Mallard St	0.27mi	3/2.0	1,291 (+5%)	3mo	$172,000	$133	76
2514 Robin St	0.16mi	3/2.0	1,334 (+9%)	2mo	$190,000	$142	76
2218 Teal St	0.38mi	3/2.0	1,262 (+3%)	3mo	$142,000	$113	75
2116 Jay St	0.37mi	3/2.0	1,170 (-4%)	3mo	$202,500	$173	73
2517 Pelican St	0.17mi	3/2.0	1,367 (+12%)	1mo	$240,000	$176	72
2110 Mallard St	0.45mi	2/2.0 (-1)	1,266 (+3%)	1mo	$125,000	$99	68
2402 Mallard St	0.25mi	3/2.0	1,361 (+11%)	3mo	$125,000	$92	67
2515 Pelican St	0.16mi	3/2.0	1,405 (+15%)	3mo	$235,000	$167	66
2120 Oriole St	0.38mi	2/1.0 (-1)	1,164 (-5%)	2mo	$153,000	$131	63
2022 Mallard St	0.54mi	3/1.0	1,148 (-6%)	1mo	$165,000	$144	59

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 · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.71×
• Total profit: $-16,114
• Equity at exit: $29,806

10-year hold

• IRR: 5.0%
• Equity multiple: 1.41×
• Total profit: $23,066
• Equity at exit: $17,284

Cash invested: $55,972 (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 70460

• Rents YoY: 5.9%
• Active inventory: 241
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,767 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$91 /mo · $1,092/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $173

Break-even live

Break-even rent $1,548

Max offer price $199,900

Occupancy floor 85%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2402 Pelican St Slidell, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.05mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	23d	1	0.18mi
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	43d	1	0.30mi

Listing history 38 events

1. 2026-06-18
   days on market $199,900 Active 98 DOM
2. 2026-06-17
   days on market $199,900 Active 97 DOM
3. 2026-06-16
   days on market $199,900 Active 96 DOM
4. 2026-06-15
   days on market $199,900 Active 95 DOM
5. 2026-06-13
   days on market $199,900 Active 93 DOM
6. 2026-06-10
   days on market $199,900 Active 90 DOM
7. 2026-06-09
   days on market $199,900 Active 89 DOM
8. 2026-06-08
   days on market $199,900 Active 88 DOM
9. 2026-06-07
   days on market $199,900 Active 87 DOM
10. 2026-06-03
    days on market $199,900 Active 83 DOM
11. 2026-06-02
    days on market $199,900 Active 82 DOM
12. 2026-06-01
    days on market $199,900 Active 81 DOM
13. 2026-05-31
    days on market $199,900 Active 80 DOM
14. 2026-03-12
    listed $199,900 Active 707-char remark

    Show marketing remark (713 chars)

    2410 Pelican St in Slidell offers major updates and move-in ready convenience. The roof, HVAC system, water heater, and septic tank were all replaced in 2022, giving you peace of mind on the big-ticket items. Inside, you’ll find durable luxury vinyl plank flooring, stainless steel appliances, updated light fixtures, and new window screens throughout. The functional layout provides comfortable everyday living with an easy flow for entertaining. Situated in Flood Zone C, this home also offers a convenient location for commuters with quick access to I-10 and I-12, making travel to New Orleans, the Northshore, or Mississippi a breeze. Well-maintained, thoughtfully updated, and ready for its next owner!

15. 2026-03-12
    listed $199,900 Active 713-char remark

    Show marketing remark (713 chars)

    2410 Pelican St in Slidell offers major updates and move-in ready convenience. The roof, HVAC system, water heater, and septic tank were all replaced in 2022, giving you peace of mind on the big-ticket items. Inside, you’ll find durable luxury vinyl plank flooring, stainless steel appliances, updated light fixtures, and new window screens throughout. The functional layout provides comfortable everyday living with an easy flow for entertaining. Situated in Flood Zone C, this home also offers a convenient location for commuters with quick access to I-10 and I-12, making travel to New Orleans, the Northshore, or Mississippi a breeze. Well-maintained, thoughtfully updated, and ready for its next owner!

16. 2023-01-03
    soldstatus $184,900
17. 2022-12-30
    soldstatus $184,900 Closed
18. 2022-12-09
    status Pending
19. 2022-11-16
    listed $184,900 Active
20. 2022-11-16
    listed $184,900
21. 2022-09-12
    soldstatus $117,000
22. 2022-09-09
    soldstatus $117,000 Closed
23. 2022-07-15
    status Pending
24. 2022-06-21
    listed $139,500
25. 2022-06-21
    listed $139,500 Active
26. 2022-03-17
    listed $139,500
27. 2012-06-28
    listed $105,000
28. 2012-06-28
    listed $105,000
29. 2011-12-09
    soldstatus $62,000
30. 2011-07-26
    listed $69,900
31. 2011-07-26
    listed $69,900
32. 2007-09-20
    soldstatus $127,900
33. 2007-09-14
    soldstatus $127,900
34. 2007-07-24
    listed $134,900
35. 2007-07-24
    listed $134,900
36. 2001-10-19
    soldstatus $74,900
37. 2001-06-11
    listed $74,900
38. 2001-06-11
    listed $74,900

ⓘ 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: $1,092 · $91/mo
• Projected year-2 tax: $1,099 · $92/mo
• Expected delta: +$7/yr (+$1/mo · 0.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 52% 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: $21,201
• − Mortgage interest: −$11,198
• − Property taxes: −$1,092
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$5,815
• Taxable loss: −$1,296
• Est. tax savings @ 24.0%: +$311
• After-tax cash flow: $2,388/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): 21,669
• Household income: $62,565
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 318.0

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 0.62)
• Race & ethnicity: White 53% Black 29% Two or more races 11% Hispanic / Latino 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 13% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -93.87%
• Current HPI: 130.56
• Rent YoY: ▲ 5.91%
• 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

+166.9% since first listed

25 events — show timeline

• 2026-03-12 Listed $199,900 GSREIN
• 2026-03-12 Listed $199,900 AcadianaMLS
• 2023-01-03 Sold (Public Records) $184,900 Public Records
• 2022-12-30 Sold (MLS) $184,900 GSREIN
• 2022-12-09 Pending — GSREIN
• 2022-11-16 Listed $184,900 AcadianaMLS
• 2022-11-16 Listed $184,900 GSREIN
• 2022-09-12 Sold (Public Records) $117,000 Public Records
• 2022-09-09 Sold (MLS) $117,000 GSREIN
• 2022-07-15 Pending — GSREIN
• 2022-06-21 Listed $139,500 GSREIN
• 2022-06-21 Listed $139,500 AcadianaMLS
• 2022-03-17 Listed $139,500 AcadianaMLS
• 2012-06-28 Listed $105,000 GSREIN
• 2012-06-28 Listed $105,000 AcadianaMLS
• 2011-12-09 Sold (MLS) $62,000 GSREIN
• 2011-07-26 Listed $69,900 AcadianaMLS
• 2011-07-26 Listed $69,900 GSREIN
• 2007-09-20 Sold (Public Records) $127,900 Public Records
• 2007-09-14 Sold (MLS) $127,900 GSREIN
• 2007-07-24 Listed $134,900 AcadianaMLS
• 2007-07-24 Listed $134,900 GSREIN
• 2001-10-19 Sold (MLS) $74,900 GSREIN
• 2001-06-11 Listed $74,900 GSREIN
• 2001-06-11 Listed $74,900 AcadianaMLS

Property tax history

-3.2%/yr

Latest (2025): $1,092 · -3.8% YoY. Source: county tax records.