21456 Austin Rd · Covington, LA 70435

$125,000

3 bd · 2.0 ba · 1,102 sqft · SingleFamily · 73 Days on market

Built 1980 Good condition 0.42 ac lot $113/sqft · 47% below area Est $237k · 47% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy quiet country living in this move-in ready 3 bedroom, 2 home. Fresh interior paint and durable tile and wood laminate flooring throughout - no carpet. Spacious layout with plenty of room to relax and enjoy the peaceful surroundings. Double insulated windows throughout. New metal roof installed over the original roof with Kool Seal reflective roof coating installed in 2026. Closed cell foam insulation installed underneath the raised portion of the house. All electric house with stove, refrigerator, and new dishwasher included. Water heater is 2 years old. This is a great opportunity for comfortable country living.

Key facts

• Quiet country living
• New metal roof
• All electric house

Tags

• QUIET COUNTRY LIVING
• DOUBLE INSULATED WINDOWS
• NEW METAL ROOF
• CLOSED CELL FOAM INSULATION
• ALL ELECTRIC HOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $640 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.9% in Covington — 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 75/100 on livability (#17 in LA, #3,876 nationally) — a middle-class / working-renter tenant base. Strengths: employment 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: 365 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 12.43%
• Cash-on-cash: 21.93%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $237,089
• List price: $125,000
• Delta: -47.28%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.59×
• Total profit: $20,514
• Equity at exit: $18,638

10-year hold

• IRR: 23.4%
• Equity multiple: 3.01×
• Total profit: $70,441
• Equity at exit: $10,808

Cash invested: $35,000 (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 70435

• Home prices YoY: -27.3%
• Active inventory: 365
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,903 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $640

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 61%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
72475 Jasmine St Covington, LA	4.0	2.0	1200	$1,595	$1.33	43d	1	1.44mi

Listing history 17 events

1. 2026-06-18
   days on market $125,000 Active 73 DOM
2. 2026-06-17
   days on market $125,000 Active 72 DOM
3. 2026-06-16
   days on market $125,000 Active 71 DOM
4. 2026-06-15
   days on market $125,000 Active 70 DOM
5. 2026-06-13
   days on market $125,000 Active 68 DOM
6. 2026-06-10
   days on market $125,000 Active 65 DOM
7. 2026-06-09
   days on market $125,000 Active 64 DOM
8. 2026-06-08
   days on market $125,000 Active 63 DOM
9. 2026-06-07
   days on market $125,000 Active 62 DOM
10. 2026-06-03
    days on market $125,000 Active 58 DOM
11. 2026-06-02
    days on market $125,000 Active 57 DOM
12. 2026-06-01
    days on market $125,000 Active 56 DOM
13. 2026-05-31
    days on market $125,000 Active 55 DOM
14. 2026-03-31
    listed $145,000 Active 626-char remark

    Show marketing remark (626 chars)

    ENJOY QUIET COUNTRY LIVING IN THIS MOVE-IN READY 3 BEDROOM, 2 HOME. FRESH INTERIOR PAINT AND DURABLE TILE AND WOOD LAMINATE FLOORING THROUGHOUT - NO CARPET. SPACIOUS LAYOUT WITH PLENTY OF ROOM TO RELAX AND ENJOY THE PEACEFUL SURROUNDINGS. DOUBLE INSULATED WINDOWS THROUGHOUT. NEW METAL ROOF INSTALLED OVER THE ORIGINAL ROOF WITH KOOL SEAL REFLECTIVE ROOF COATING INSTALLED IN 2026. CLOSED CELL FOAM INSULATION INSTALLED UNDERNEATH THE RAISED PORTION OF THE HOUSE. ALL ELECTRIC HOUSE WITH STOVE, REFRIGERATOR, AND NEW DISHWASHER INCLUDED. WATER HEATER IS 2 YEARS OLD. THIS IS A GREAT OPPORTUNITY FOR COMFORTABLE COUNTRY LIVING.

15. 2026-03-31
    listed $145,000 Active 626-char remark

    Show marketing remark (626 chars)

    ENJOY QUIET COUNTRY LIVING IN THIS MOVE-IN READY 3 BEDROOM, 2 HOME. FRESH INTERIOR PAINT AND DURABLE TILE AND WOOD LAMINATE FLOORING THROUGHOUT - NO CARPET. SPACIOUS LAYOUT WITH PLENTY OF ROOM TO RELAX AND ENJOY THE PEACEFUL SURROUNDINGS. DOUBLE INSULATED WINDOWS THROUGHOUT. NEW METAL ROOF INSTALLED OVER THE ORIGINAL ROOF WITH KOOL SEAL REFLECTIVE ROOF COATING INSTALLED IN 2026. CLOSED CELL FOAM INSULATION INSTALLED UNDERNEATH THE RAISED PORTION OF THE HOUSE. ALL ELECTRIC HOUSE WITH STOVE, REFRIGERATOR, AND NEW DISHWASHER INCLUDED. WATER HEATER IS 2 YEARS OLD. THIS IS A GREAT OPPORTUNITY FOR COMFORTABLE COUNTRY LIVING.

16. 2024-09-27
    historical $1,000
17. 2024-09-19
    listed $1,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 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: $22,838
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$3,636
• Taxable income: $6,046
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $6,225/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready home offers a good condition with fresh paint and durable flooring. It's well-maintained and ready for new owners to move in.

Value-add opportunities

• Resale Paint touch-ups — Fresh paint enhances the home's curb appeal and can make it more attractive to potential buyers.
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and increase its rental value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint touch-ups — Fresh paint enhances the home's curb appeal and can make it more attractive to potential buyers. ↑
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and increase its rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Covington

• Score: 75/100
• State rank: #17
• US rank: #3876

Category grades

Amenities F Commute F Cost of living B+ 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: 64,351
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,475
• Household income: $80,926
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 296.0

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% Black 9% Two or more races 4% Hispanic / Latino 3% Pacific Islander 2%
• Common ancestry: Lithuanian 15% Serbian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -76.03%
• Current HPI: 202.0458
• Rent YoY: —
• 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

+14400.0% since first listed

4 events — show timeline

• 2026-03-31 Listed $145,000 AcadianaMLS
• 2026-03-31 Listed $145,000 GSREIN
• 2024-09-27 Rental Removed $1,000 GSREIN
• 2024-09-19 Listed for Rent $1,000 GSREIN