156 Greencrest Dr · Slidell, LA 70458

$140,000

3 bd · 2.0 ba · 1,585 sqft · SingleFamily public records · 12 Days on market

Built 1995 Est $162k · 13% 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 +27.6/30.0
• ARV discount +13.5/15.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• 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

Whether you're a first-time homebuyer looking to find an affordable place you can put your own stamp on, or eager to start building an investment portfolio, this 3-bedroom, 2-bathroom home offers a good balance between opportunity and potential. Situated on the corner of a small cul-de-sac, this property provides a simple and functional floor plan that is primed for updates that will build both longevity and equity. The large, fully-fenced backyard is a great spot, waiting for pets, gardens and BBQ's. If accessibility is important to you, then you're minutes away from lots of possibilities, including: schools, restaurants, grocery stores, hardware stores, pharmacies, gyms, etc. And for the fishing enthusiast, Lake Pontchartrain is only a short drive away! Come and see!

Key facts

• Parking
• Built 1995
• Listed 12 days

Tags

• FULLY-FENCED BACKYARD
• CORNER OF A SMALL CUL-DE-SAC
• MINUTES AWAY FROM SCHOOLS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.9% 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; 10 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $112k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $140,000

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: 1.25% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.78%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $161,670
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Greencrest Dr	0.04mi	3/2.0	1,480 (-7%)	1mo	$176,000	$119	86
156 Greencrest Dr	0.00mi	3/2.0	1,350 (-15%)	0mo	$130,000	$96	75
3844 Riviera Dr	0.31mi	3/1.5	1,466 (-8%)	6mo	$150,000	$102	66
136 Palm Springs Dr	0.18mi	3/1.5	1,348 (-15%)	5mo	$170,000	$126	61
3852 Oxford St	0.61mi	3/2.0	1,658 (+5%)	6mo	$167,000	$101	59
116 Palm Springs Dr	0.19mi	4/2.0 (+1)	1,380 (-13%)	8mo	$70,000	$51	58
127 Whitehall Dr	0.46mi	4/2.0 (+1)	1,475 (-7%)	5mo	$145,000	$98	58
365 Dorset Dr	0.52mi	3/2.0	1,774 (+12%)	6mo	$207,500	$117	50
3858 Eton St	0.57mi	3/2.0	1,367 (-14%)	1mo	$188,000	$138	50
3638 Meadowdale Dr	0.51mi	3/1.5	1,815 (+14%)	3mo	$176,800	$97	48
3109 Bayou View Pl	0.74mi	3/2.0	1,450 (-8%)	7mo	$240,000	$166	45
328 Hickory Dr	0.74mi	3/1.0	1,350 (-15%)	4mo	$137,000	$101	33

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,275
• Equity at exit: $20,874

10-year hold

• IRR: 8.9%
• Equity multiple: 1.64×
• Total profit: $24,903
• Equity at exit: $12,105

Cash invested: $39,200 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,745 high
• Mortgage (P&I): −$734
• Tax from tax record: −$169 /mo · $2,026/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $417

Break-even live

Break-even rent $1,217

Max offer price $140,000

Occupancy floor 71%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Spartan Dr Slidell, LA	1.0–2.0	1.0–2.0	880	$1,502	$1.71	3d	8	0.38mi
3839 Oxford St Slidell, LA	3.0	2.0	1660	$1,700	$1.02	44d	1	0.60mi
172 South St Slidell, LA	4.0	2.0	1486	$1,800	$1.21	21d	1	0.65mi
102 Spartan Trace Blvd Slidell, LA	3.0	2.0	1516	$2,000	$1.32	24d	1	0.67mi
3152 College St Slidell, LA	3.0	1.0	1373	$1,750	$1.27	44d	1	0.96mi
519 Spartan Dr #9101 Slidell, LA	2.0	2.0	1304	$1,400	$1.07	24d	1	0.98mi
3304 Bridge Dr Slidell, LA	3.0	2.0	1250	$1,700	$1.36	44d	1	1.07mi
3046 Slidell Ave Slidell, LA	4.0	1.0	1253	$1,850	$1.48	3d	1	1.17mi
901 Old Spanish Trl Slidell, LA	2.0	1.5	1070	$1,120	$1.05	12d	1	1.34mi
101 Moonraker Dr Slidell, LA	3.0	2.0	1811	$2,300	$1.27	24d	1	1.34mi

Listing history 5 events

1. 2026-04-20
   status Pending 779-char remark

   Show marketing remark (779 chars)

   Whether you're a first-time homebuyer looking to find an affordable place you can put your own stamp on, or eager to start building an investment portfolio, this 3-bedroom, 2-bathroom home offers a good balance between opportunity and potential. Situated on the corner of a small cul-de-sac, this property provides a simple and functional floor plan that is primed for updates that will build both longevity and equity. The large, fully-fenced backyard is a great spot, waiting for pets, gardens and BBQ's. If accessibility is important to you, then you're minutes away from lots of possibilities, including: schools, restaurants, grocery stores, hardware stores, pharmacies, gyms, etc. And for the fishing enthusiast, Lake Pontchartrain is only a short drive away! Come and see!

2. 2026-04-20
   status Pending

   Show marketing remark (779 chars)

   Whether you're a first-time homebuyer looking to find an affordable place you can put your own stamp on, or eager to start building an investment portfolio, this 3-bedroom, 2-bathroom home offers a good balance between opportunity and potential. Situated on the corner of a small cul-de-sac, this property provides a simple and functional floor plan that is primed for updates that will build both longevity and equity. The large, fully-fenced backyard is a great spot, waiting for pets, gardens and BBQ's. If accessibility is important to you, then you're minutes away from lots of possibilities, including: schools, restaurants, grocery stores, hardware stores, pharmacies, gyms, etc. And for the fishing enthusiast, Lake Pontchartrain is only a short drive away! Come and see!

3. 2026-04-08
   listed $140,000 Active 779-char remark

   Show marketing remark (779 chars)

   Whether you're a first-time homebuyer looking to find an affordable place you can put your own stamp on, or eager to start building an investment portfolio, this 3-bedroom, 2-bathroom home offers a good balance between opportunity and potential. Situated on the corner of a small cul-de-sac, this property provides a simple and functional floor plan that is primed for updates that will build both longevity and equity. The large, fully-fenced backyard is a great spot, waiting for pets, gardens and BBQ's. If accessibility is important to you, then you're minutes away from lots of possibilities, including: schools, restaurants, grocery stores, hardware stores, pharmacies, gyms, etc. And for the fishing enthusiast, Lake Pontchartrain is only a short drive away! Come and see!

4. 2026-04-08
   listed $140,000 Active

   Show marketing remark (779 chars)

   Whether you're a first-time homebuyer looking to find an affordable place you can put your own stamp on, or eager to start building an investment portfolio, this 3-bedroom, 2-bathroom home offers a good balance between opportunity and potential. Situated on the corner of a small cul-de-sac, this property provides a simple and functional floor plan that is primed for updates that will build both longevity and equity. The large, fully-fenced backyard is a great spot, waiting for pets, gardens and BBQ's. If accessibility is important to you, then you're minutes away from lots of possibilities, including: schools, restaurants, grocery stores, hardware stores, pharmacies, gyms, etc. And for the fishing enthusiast, Lake Pontchartrain is only a short drive away! Come and see!

5. 2024-09-06
   soldstatus $112,000

ⓘ 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: $2,026 · $169/mo
• Projected year-2 tax: $2,026 · $169/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $20,943
• − Mortgage interest: −$7,842
• − Property taxes: −$2,026
• − Insurance: −$700
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$4,073
• Taxable income: $2,951
• Est. tax owed @ 24.0%: −$708
• After-tax cash flow: $4,301/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

+25.0% since first listed

5 events — show timeline

• 2026-04-20 Pending — AcadianaMLS
• 2026-04-20 Pending — GSREIN
• 2026-04-08 Listed $140,000 GSREIN
• 2026-04-08 Listed $140,000 AcadianaMLS
• 2024-09-06 Sold (Public Records) $112,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $2,026 · -6.2% YoY. Source: county tax records.