69393 Race Horse Rd · Pearl River, LA 70452

$192,500

3 bd · 1.5 ba · 1,640 sqft · SingleFamily public records · 277 Days on market

Built 2011 1.30 ac lot $117/sqft · 25% below area Est $262k · 27% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +4.3/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

Key facts

• Granite countertops
• Newer wood cabinets
• 1.3 acre lot

Tags

• BIG FRONT AND BACK PORCHES
• GRANITE COUNTERTOPS
• NEWER WOOD CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (14.5% below list).
• Recommended offer: $165k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.0% in Pearl River — 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 51/100 on livability (#419 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment 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.
• Zoned schools: Sixth Ward Elementary School (math 42% / reading 57%, grade D, #129 of 646 statewide, top 21%, 321 students, 63% FRL); Creekside Junior High (math 22% / reading 35%, grade F, #119 of 218 statewide, top 57%, 534 students, 53% FRL); Pearl River High School (math 22% / reading 36%, grade F, #132 of 265 statewide, top 50%, 830 students, 55% FRL) — zoned schools average 57% FRL vs 40% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 49% district-wide (-13 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Market conditions: 159 active listings in the ZIP; 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 $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 277 days — a 12% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 17y ago; this cycle's ask has dropped $18k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,517 (14.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.85% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (median comp): $262,287
• List price: $192,500
• Delta: -26.61%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69382 Racehorse Rd	0.04mi	3/2.0	1,408 (-14%)	11mo	$90,000	$64	64
70184 Archie Singletary Rd	0.69mi	3/2.0	1,661 (+1%)	4mo	$315,000	$190	60
69445 16th Section Rd	0.34mi	3/2.0	1,843 (+12%)	12mo	$395,000	$214	52
35539 Bookout Rd	0.49mi	3/2.0	1,404 (-14%)	8mo	$155,000	$110	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.24×
• Total profit: $-41,018
• Equity at exit: $28,702

10-year hold

• IRR: -15.8%
• Equity multiple: 0.11×
• Total profit: $-48,085
• Equity at exit: $16,644

Cash invested: $53,900 (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 70452

• Home prices YoY: -26.1%
• Active inventory: 159
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,645 medium
• Mortgage (P&I): −$1,009
• Tax est. 1.5%: −$241 /mo · $2,888/yr
• Insurance: −$80
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-156

Break-even live

Break-even rent $1,842

Max offer price $169,949

Occupancy floor —

Sensitivity live

Price	-10% $-23	-5% $-89	+0% $-156	+5% $-222	+10% $-289
Rent	-10% $-286	-5% $-221	+0% $-156	+5% $-91	+10% $-26
Rate	-1.0pp $-59	-0.5pp $-107	base $-156	+0.5pp $-206	+1.0pp $-256

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: $48,125
• Closing costs: $5,775
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-02
   days on market $192,500 Active 277 DOM
2. 2026-06-01
   days on market $192,500 Active 276 DOM
3. 2026-05-31
   days on market $192,500 Active 275 DOM
4. 2026-05-15
   price $192,500 402-char remark

   Show marketing remark (402 chars)

   MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

5. 2026-05-15
   price $192,500 402-char remark

   Show marketing remark (402 chars)

   MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

6. 2026-04-27
   price $199,000 402-char remark

   Show marketing remark (402 chars)

   MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

7. 2026-04-27
   price $199,000 402-char remark

   Show marketing remark (402 chars)

   MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

8. 2026-02-06
   price $200,000 402-char remark

   Show marketing remark (402 chars)

   MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

9. 2026-02-06
   price $200,000 402-char remark

   Show marketing remark (402 chars)

   MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

10. 2025-11-06
    status Active 402-char remark

    Show marketing remark (402 chars)

    MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

11. 2025-11-03
    historical Active Under Contract 402-char remark

    Show marketing remark (402 chars)

    MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

12. 2025-10-29
    price $205,000 402-char remark

    Show marketing remark (402 chars)

    MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

13. 2025-10-29
    price $205,000 402-char remark

    Show marketing remark (402 chars)

    MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

14. 2025-08-29
    listed $210,000 Active 402-char remark

    Show marketing remark (402 chars)

    MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

15. 2025-08-29
    listed $210,000 Active 402-char remark

    Show marketing remark (402 chars)

    MOTIVATED SELLERS - OFFERING BUYER'S INCENTIVE - $2,500 TOWARDS CLOSING COSTS. BRAND NEW ROOF as of 4/24/26!! Come check out this sweet cottage on 1.3 acres with big front and back porches for you to enjoy being surrounded by nature. Kitchen has beautiful granite countertops with newer wood cabinets. All bedrooms upstairs are so roomy and cozy. A wonderful property to enjoy a peaceful, country life!

16. 2021-05-14
    soldstatus $186,000 Closed
17. 2021-05-14
    soldstatus $186,000
18. 2021-03-29
    status Pending
19. 2021-03-28
    listed $179,900 Active
20. 2021-03-28
    listed $179,900
21. 2010-09-23
    soldstatus $23,500
22. 2010-03-12
    listed $32,599
23. 2010-03-12
    listed $32,599
24. 2009-09-09
    listed $40,000
25. 2009-09-09
    listed $40,000

ⓘ 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 6/10 Major FEMA zone A · 72% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,742
• − Mortgage interest: −$10,783
• − Property taxes: −$2,888
• − Insurance: −$2,465
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$5,600
• Taxable loss: −$5,152
• Est. tax savings @ 24.0%: +$1,237
• After-tax cash flow: $-634/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 — Pearl River

• Score: 51/100
• State rank: #419
• US rank: #25262

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,290

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Black 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 11% Romanian 1% Italian 1%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -55.29%
• Current HPI: 156.9714
• Rent YoY: —
• Metro: —
• 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

+381.2% since first listed

22 events — show timeline

• 2026-05-15 Price Changed $192,500 AcadianaMLS
• 2026-05-15 Price Changed $192,500 GSREIN
• 2026-04-27 Price Changed $199,000 AcadianaMLS
• 2026-04-27 Price Changed $199,000 GSREIN
• 2026-02-06 Price Changed $200,000 AcadianaMLS
• 2026-02-06 Price Changed $200,000 GSREIN
• 2025-11-06 Relisted — GSREIN
• 2025-11-03 Contingent — GSREIN
• 2025-10-29 Price Changed $205,000 AcadianaMLS
• 2025-10-29 Price Changed $205,000 GSREIN
• 2025-08-29 Listed $210,000 GSREIN
• 2025-08-29 Listed $210,000 AcadianaMLS
• 2021-05-14 Sold (Public Records) $186,000 Public Records
• 2021-05-14 Sold (MLS) $186,000 GSREIN
• 2021-03-29 Pending — GSREIN
• 2021-03-28 Listed $179,900 AcadianaMLS
• 2021-03-28 Listed $179,900 GSREIN
• 2010-09-23 Sold (MLS) $23,500 GSREIN
• 2010-03-12 Listed $32,599 GSREIN
• 2010-03-12 Listed $32,599 AcadianaMLS
• 2009-09-09 Listed $40,000 GSREIN
• 2009-09-09 Listed $40,000 AcadianaMLS

Property tax history

-11.2%/yr

Latest (2025): $362 · -4.4% YoY. Source: county tax records.