228 Martin Lane Ln · Slidell, LA 70458

$1,970

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 38 Days on market

Built 1970 0.28 ac lot $2/sqft · 99% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

Key facts

• 0.28 acre lot
• Built 1970
• Listed 38 days

Property features AI

Exterior

• Utilities: Electric service by Entergy; Property includes acreage
• Home design: Single family residence
• Construction: Stucco and brick construction
• Exterior features: Stucco and brick exterior

Interior

• Kitchen: Kitchen
• Bedrooms: Bedroom 1; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning; Gas log fireplace
• Interior features: Bedrooms and kitchen present; Handicap accessible

🏷️ Possibly a rental listed for sale. The $1,970 price doesn't fit this home's estimated sale value (~$199,640) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Recommended offer: $2k (3.0% below list) — sets the bar for market timing.
• Cap rate 744.2% vs local median 5.9% in Slidell — 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 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 (+1.5%/yr); 489 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $14 of loan paydown is wiped out by about $59 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 + 1.5% rent growth), your $552 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y 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.

Recommended offer $1,910 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 78.71% ✓
• Cap rate: 744.16%
• Cash-on-cash: 2635.25%
• DSCR: 118.25
• GRM: 0.1

CMA / ARV

• ARV (median comp): $199,640
• List price: $1,970
• Delta: -99.01%
• 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
203 Oriole Dr	0.05mi	3/2.0	1,185 (-1%)	11mo	$165,000	$139	86
214 Cardinal Dr	0.15mi	3/1.0	1,160 (-3%)	1mo	$68,000	$59	82
252 Oriole Dr	0.21mi	3/1.5	1,232 (+3%)	2mo	$136,000	$110	82
218 Mockingbird Ln	0.20mi	3/1.5	1,200 (0%)	8mo	$122,500	$102	82
108 Chantilly Ln	0.34mi	3/2.0	1,300 (+8%)	2mo	$199,000	$153	69
257 Hummingbird Ln	0.24mi	3/2.0	1,235 (+3%)	21mo	$175,000	$142	66
289 Audubon Dr	0.23mi	3/1.5	1,323 (+10%)	6mo	$163,500	$124	65
319 Cardinal Dr	0.34mi	3/2.0	1,316 (+10%)	7mo	$171,906	$131	62
378 Oriole Dr	0.54mi	3/1.5	1,170 (-2%)	14mo	$168,900	$144	57
282 Bluebird Dr	0.32mi	3/2.0	1,076 (-10%)	17mo	$174,000	$162	53
174 Indiana Ave	0.74mi	3/2.0	1,322 (+10%)	12mo	$234,900	$178	38
1341 Broadmoor Dr	0.72mi	3/1.5	1,336 (+11%)	21mo	$160,000	$120	28

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 136.07×
• Total profit: $74,504
• Equity at exit: $294

10-year hold

• IRR: —
• Equity multiple: 281.93×
• Total profit: $154,959
• Equity at exit: $170

Cash invested: $552 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,551 high
• Mortgage (P&I): −$10
• Tax est. 1.5%: −$2 /mo · $30/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $1,211

Break-even live

Break-even rent $17

Max offer price $1,970

Occupancy floor 17%

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: $492
• Closing costs: $59
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Martin Ln Slidell, LA	3.0	1.5	1353	$1,800	$1.33	23d	1	0.05mi
816 Rue Rochelle Slidell, LA	2.0	1.5	1500	$1,200	$0.80	43d	1	0.27mi
1513 Savannah Dr Slidell, LA	2.0	1.5	1000	$1,150	$1.15	3d	1	0.34mi
1500 Richmond Dr Slidell, LA	2.0	2.0	1137	$1,250	$1.10	3d	1	0.35mi
932 Asheville Dr Slidell, LA	2.0	1.5	1220	$1,225	$1.00	3d	1	0.41mi
1536 Richmond Dr Slidell, LA	2.0	1.5	958	$1,150	$1.20	23d	1	0.43mi
908 Asheville Dr Slidell, LA	2.0	1.0	1000	$1,350	$1.35	10d	1	0.47mi
1466 Florida Ave Slidell, LA	3.0	2.0	1456	$2,200	$1.51	43d	1	0.70mi
120 Christian Ln Slidell, LA	3.0	2.0	1375	$1,875	$1.36	3d	1	0.70mi
120 Christian Ln Slidell, LA	3.0	2.0	1375	$1,875	$1.36	3d	1	0.70mi
756 Gause Blvd Unit 38 Slidell, LA	2.0	2.0	814	$1,000	$1.23	3d	1	0.84mi
756 Gause Blvd Unit 38 Slidell, LA	2.0	2.0	814	$1,000	$1.23	43d	1	0.84mi
513 Michigan Ave Slidell, LA	3.0	2.0	1250	$1,575	$1.26	23d	1	1.13mi
1731 Mary Dr Slidell, LA	3.0	2.0	1200	$1,650	$1.38	3d	1	1.17mi
1733 Mary Dr Slidell, LA	3.0	2.0	1349	$1,650	$1.22	43d	1	1.18mi
250 Brownswitch Rd Apt 193 Slidell, LA	2.0	1.5	1025	$1,195	$1.17	10d	1	1.26mi
39344 Rosalind Dr Slidell, LA	3.0	2.0	1500	$2,400	$1.60	43d	1	1.28mi
943 N Magnolia St Slidell, LA	2.0	2.0	900	$1,000	$1.11	3d	1	1.33mi
2001 Tenth St Unit B Slidell, LA	3.0	2.0	1137	$1,550	$1.36	17d	1	1.34mi
117 S Queens Dr Slidell, LA	4.0	2.0	1476	$1,800	$1.22	3d	1	1.34mi
736 N Walnut St Slidell, LA	3.0	1.5	983	$1,100	$1.12	23d	1	1.43mi
734 Walnut St Slidell, LA	2.0	1.0	800	$1,050	$1.31	43d	1	1.46mi
1112 Cousin St Slidell, LA	2.0	1.0	782	$1,100	$1.41	3d	1	1.47mi
59278 Rebel Dr Unit A Slidell, LA	2.0	1.0	900	$1,185	$1.32	43d	1	1.47mi
59278 Rebel Dr Slidell, LA	2.0	1.0	900	$1,175	$1.31	43d	1	1.47mi
2009 Beth Dr Slidell, LA	3.0	2.0	1500	$1,750	$1.17	3d	1	1.49mi

Listing history 41 events

1. 2026-06-18
   days on market $1,970 Active 38 DOM
2. 2026-06-17
   days on market $1,970 Active 37 DOM
3. 2026-06-16
   days on market $1,970 Active 36 DOM
4. 2026-06-15
   days on market $1,970 Active 35 DOM
5. 2026-06-13
   days on market $1,970 Active 33 DOM
6. 2026-06-10
   days on market $1,970 Active 30 DOM
7. 2026-06-09
   days on market $1,970 Active 29 DOM
8. 2026-06-08
   days on market $1,970 Active 28 DOM
9. 2026-06-07
   days on market $1,970 Active 27 DOM
10. 2026-06-03
    days on market $1,970 Active 23 DOM
11. 2026-06-02
    days on market $1,970 Active 22 DOM
12. 2026-06-01
    days on market $1,970 Active 21 DOM
13. 2026-05-31
    days on market $1,970 Active 20 DOM
14. 2026-05-11
    listed $1,970 Active
15. 2016-06-01
    soldstatus $113,500
16. 2016-05-23
    soldstatus $113,500 Sold 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

17. 2016-05-09
    historical Pending Continue to Show 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

18. 2016-04-08
    status Under Contract 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

19. 2016-03-20
    price $113,500 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

20. 2016-03-20
    status Active 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

21. 2016-01-22
    historical Pending Continue to Show 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

22. 2015-12-21
    listed $117,000 Active 368-char remark

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

23. 2015-12-21
    listed $113,500

    Show marketing remark (368 chars)

    Home features crown molding throughout, tile and wood floors. Kitchen has Red Oak cabinets with granite counter tops. Bonus room features french doors leading to back patio area and shaded back yard. This house also has rear access through the drive way. Located in the heart of the city, this home is conveniently located a short distance to restaurants and shopping.

24. 2015-12-19
    historical
25. 2015-09-03
    price $117,000
26. 2015-09-03
    status Active
27. 2015-08-30
    status Under Contract
28. 2015-07-15
    price $120,000
29. 2015-06-19
    listed $125,000 Active
30. 2015-06-18
    listed $117,000
31. 2011-07-06
    soldstatus $113,000
32. 2011-07-01
    soldstatus $113,000
33. 2011-02-11
    listed $120,000
34. 2011-02-11
    listed $120,000
35. 2010-10-28
    soldstatus $42,500
36. 2010-09-21
    listed $49,900
37. 2010-09-21
    listed $49,900
38. 2005-04-25
    soldstatus $88,000
39. 2005-04-22
    soldstatus $88,000
40. 2005-04-07
    listed $89,900
41. 2005-04-07
    listed $89,900

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

Taxation est. · year 1

• Rental income: $18,607
• − Mortgage interest: −$110
• − Property taxes: −$30
• − Insurance: −$10
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$57
• Taxable income: $15,423
• Est. tax owed @ 24.0%: −$3,701
• After-tax cash flow: $10,835/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

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

-97.8% since first listed

28 events — show timeline

• 2026-05-11 Listed $1,970 AcadianaMLS
• 2016-06-01 Sold (Public Records) $113,500 Public Records
• 2016-05-23 Sold (MLS) $113,500 GSREIN
• 2016-05-09 Contingent — GSREIN
• 2016-04-08 Pending — GSREIN
• 2016-03-20 Price Changed $113,500 GSREIN
• 2016-03-20 Relisted — GSREIN
• 2016-01-22 Contingent — GSREIN
• 2015-12-21 Listed $117,000 GSREIN
• 2015-12-21 Listed $113,500 AcadianaMLS
• 2015-12-19 Listing Removed — GSREIN
• 2015-09-03 Price Changed $117,000 GSREIN
• 2015-09-03 Relisted — GSREIN
• 2015-08-30 Pending — GSREIN
• 2015-07-15 Price Changed $120,000 GSREIN
• 2015-06-19 Listed $125,000 GSREIN
• 2015-06-18 Listed $117,000 AcadianaMLS
• 2011-07-06 Sold (Public Records) $113,000 Public Records
• 2011-07-01 Sold (MLS) $113,000 GSREIN
• 2011-02-11 Listed $120,000 GSREIN
• 2011-02-11 Listed $120,000 AcadianaMLS
• 2010-10-28 Sold (MLS) $42,500 GSREIN
• 2010-09-21 Listed $49,900 AcadianaMLS
• 2010-09-21 Listed $49,900 GSREIN
• 2005-04-25 Sold (Public Records) $88,000 Public Records
• 2005-04-22 Sold (MLS) $88,000 GSREIN
• 2005-04-07 Listed $89,900 GSREIN
• 2005-04-07 Listed $89,900 AcadianaMLS

Property tax history

-7.5%/yr

Latest (2025): $664 · -9.0% YoY. Source: county tax records.