2012 Pelican St · Slidell, LA 70460

$165,000

3 bd · 2.0 ba · 1,143 sqft · SingleFamily public records · 3 Days on market

Built 1987 Est $152k · 9% over

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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 +24.0/30.0
• DSCR +7.8/10.0
• 1% rule +5.6/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• ARV discount +3.7/15.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bath home offering a layout designed for both comfort and privacy. The private primary suite is located upstairs, creating a quiet retreat separate from the two additional bedrooms downstairs. Enjoy no carpet on the main level for easy maintenance, plus a spacious living area featuring a cozy fireplace and stylish statement wall. The kitchen is filled with natural light thanks to a skylight overhead and includes a convenient pass-through breakfast bar perfect for everyday living and entertaining. Step outside to a fenced backyard complete with a covered patio and storage shed, offering plenty of space to relax, entertain, or stay organized. Move-in ready and well cared for--this home is a must-see.

Key facts

• No carpet
• Cozy fireplace
• Skylight

Tags

• PRIVATE PRIMARY SUITE
• NO CARPET
• COZY FIREPLACE
• SKYLIGHT
• PASS-THROUGH BREAKFAST BAR
• FENCED BACKYARD

Property features AI

Finance

• Other: Lot is rectangular and located outside city limits (dimensions 50 x 125)

Exterior

• Parking: Driveway with two parking spaces
• Utilities: Public water; Sewer to treatment plant
• Home design: 2-story home; Shingle roof; Vinyl siding; Very good condition; Entry on main level
• Construction: Built on slab foundation
• Exterior features: Fenced yard; Covered concrete patio/porch; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Cathedral ceilings; Vaulted/high ceilings; Wood-burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.7% 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.
• Zoned schools: Henry Mayfield Elementary School (math 35% / reading 45%, grade F, #221 of 646 statewide, top 34%, 832 students, 60% FRL); Slidell Junior High School (math 25% / reading 47%, grade F, #84 of 218 statewide, top 41%, 823 students, 60% FRL); Slidell High School (math 34% / reading 41%, grade F, #93 of 265 statewide, top 36%, 1,883 students, 52% FRL) — zoned schools average 58% FRL vs 40% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $5k 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 + 5.9% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 27y 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.
• Current owner paid $129k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.06% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $152,019
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2010 Pelican St	0.01mi	3/2.0	1,226 (+7%)	3mo	$137,500	$112	85
2116 Jay St	0.20mi	3/2.0	1,170 (+2%)	3mo	$202,500	$173	84
2022 Mallard St	0.25mi	3/1.0	1,148 (+0%)	2mo	$165,000	$144	82
2111 Robin St	0.16mi	3/2.0	1,230 (+8%)	3mo	$215,000	$175	77
2030 Swan St	0.38mi	3/2.0	1,172 (+2%)	5mo	$150,000	$128	74
2120 Oriole St	0.26mi	2/1.0 (-1)	1,164 (+2%)	2mo	$153,000	$131	74
100 Cedar Ridge Ct	0.53mi	3/2.0	1,166 (+2%)	4mo	$199,999	$172	68
2406 Bluebird St	0.49mi	3/2.0	1,218 (+7%)	0mo	$175,000	$144	66
2110 Mallard St	0.28mi	2/2.0 (-1)	1,266 (+11%)	1mo	$125,000	$99	64
2218 Teal St	0.42mi	3/2.0	1,262 (+10%)	3mo	$142,000	$113	60
2523 Bluebird St	0.69mi	3/2.0	1,222 (+7%)	2mo	$155,000	$127	54
2502 Mallard St	0.64mi	3/2.0	1,291 (+13%)	3mo	$172,000	$133	46

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-796
• Equity at exit: $24,602

10-year hold

• IRR: 11.9%
• Equity multiple: 2.06×
• Total profit: $48,890
• Equity at exit: $14,266

Cash invested: $46,200 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,756 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$129 /mo · $1,547/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $325

Break-even live

Break-even rent $1,345

Max offer price $165,000

Occupancy floor 77%

Sensitivity live

Price	-10% $418	-5% $371	+0% $325	+5% $278	+10% $231
Rent	-10% $186	-5% $255	+0% $325	+5% $394	+10% $463
Rate	-1.0pp $408	-0.5pp $367	base $325	+0.5pp $282	+1.0pp $238

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: $41,250
• Closing costs: $4,950
• 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	24d	1	0.46mi
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.49mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	24d	1	0.67mi

Listing history 4 events

1. 2026-06-18
   days on market $165,000 Active 3 DOM
2. 2026-06-17
   days on market $165,000 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark

   Show marketing remark (729 chars)

   Charming 3-bedroom, 2-bath home offering a layout designed for both comfort and privacy. The private primary suite is located upstairs, creating a quiet retreat separate from the two additional bedrooms downstairs. Enjoy no carpet on the main level for easy maintenance, plus a spacious living area featuring a cozy fireplace and stylish statement wall. The kitchen is filled with natural light thanks to a skylight overhead and includes a convenient pass-through breakfast bar perfect for everyday living and entertaining. Step outside to a fenced backyard complete with a covered patio and storage shed, offering plenty of space to relax, entertain, or stay organized. Move-in ready and well cared for--this home is a must-see.

4. 2026-06-15
   listed $165,000 Active 1 DOM

   Show marketing remark (729 chars)

   Charming 3-bedroom, 2-bath home offering a layout designed for both comfort and privacy. The private primary suite is located upstairs, creating a quiet retreat separate from the two additional bedrooms downstairs. Enjoy no carpet on the main level for easy maintenance, plus a spacious living area featuring a cozy fireplace and stylish statement wall. The kitchen is filled with natural light thanks to a skylight overhead and includes a convenient pass-through breakfast bar perfect for everyday living and entertaining. Step outside to a fenced backyard complete with a covered patio and storage shed, offering plenty of space to relax, entertain, or stay organized. Move-in ready and well cared for--this home is a must-see.

ⓘ 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: $1,547 · $129/mo
• Projected year-2 tax: $1,547 · $129/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 6/10 Major FEMA zone X · 55% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 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: $21,075
• − Mortgage interest: −$9,243
• − Property taxes: −$1,547
• − Insurance: −$825
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$4,800
• Taxable income: $1,289
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $3,585/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

+107.5% since first listed

13 events — show timeline

• 2026-06-15 Listed $165,000 AcadianaMLS
• 2026-06-15 Listed $165,000 GSREIN
• 2008-06-02 Sold (Public Records) $128,900 Public Records
• 2008-05-28 Sold (MLS) $128,000 GSREIN
• 2007-10-07 Listed $135,900 GSREIN
• 2007-10-07 Listed $135,900 AcadianaMLS
• 2006-03-28 Sold (Public Records) $48,000 Public Records
• 2006-03-17 Sold (MLS) $48,000 GSREIN
• 2005-12-20 Listed $69,900 AcadianaMLS
• 2005-12-20 Listed $69,900 GSREIN
• 1999-07-29 Sold (MLS) $77,500 GSREIN
• 1999-05-24 Listed $79,500 AcadianaMLS
• 1999-05-24 Listed $79,500 GSREIN

Property tax history

+0.5%/yr

Latest (2025): $1,547 · -3.9% YoY. Source: county tax records.