Trillium IV H Plan · Covington, LA 70435

$319,990

3 bd · 2.0 ba · 1,848 sqft · SingleFamily · 206 Days on market

Good condition

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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 +11.1/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Introducing the Trillium IV H floor plan by DSLD Homes, a beautifully designed home offering a perfect balance of energy-efficient living and modern features. With 1,848 square feet of living space and a total area of 2,459 square feet, this home provides ample room for families who value both style and functionality. The open floor plan connects the kitchen, dining, and living areas seamlessly, making the space feel inviting and ideal for family gatherings and entertaining. The brick and siding exterior enhances curb appeal, while the covered rear porch offers a tranquil space to relax outdoors. The chef-inspired kitchen is equipped with recessed canned lighting, a spacious walk-in pantry, and plenty of counter space, making it perfect for meal preparation and storage. The boot bench in the utility room is an added convenience, helping to keep the home organized and clutter-free. The master suite is a true retreat, featuring a double master vanity, a garden master tub, a separate master shower, and a walk-in master closet designed for ample storage and organization. This home also includes three bedrooms, two bathrooms, a two-car garage for parking and extra storage, and energy-efficient features that help keep utility costs low without compromising on comfort. The Trillium IV H is perfect for those seeking a spacious, energy-efficient home with modern amenities and a functional layout.

Key facts

• Open floor plan
• Boot bench
• Walk in pantry

Tags

• ENERGY EFFICIENT LIVING
• OPEN FLOOR PLAN
• COVERED REAR PORCH
• CHEF INSPIRED KITCHEN
• WALK IN PANTRY
• BOOT BENCH

🏗️ New construction. The $319,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $382,562.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (1.6% below list).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 3.8% 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.
• Zoned schools: Covington Elementary School (math 52% / reading 52%, grade C-, #108 of 646 statewide, top 18%, 628 students, 59% FRL); Pine View Middle School (math 20% / reading 37%, grade F, #119 of 218 statewide, top 57%, 635 students, 62% FRL); Covington High School (math 32% / reading 44%, grade F, #90 of 265 statewide, top 34%, 1,660 students, 46% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 421 active listings in the ZIP; 2 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).
• At $3,148/mo this rent would consume 47% of the median local household income ($81k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 206 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.

Recommended offer $281,591 (12.0% 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 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (median comp): $382,562
• List price: $319,990
• Delta: -16.36%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13208 Riverlake Dr	0.25mi	4/2.0 (+1)	1,984 (+7%)	5mo	$320,000	$161	66
13394 Riverlake Dr	0.45mi	4/3.0 (+1)	1,843 (-0%)	5mo	$309,000	$168	66
13462 Riverlake Dr	0.51mi	3/2.5	1,830 (-1%)	12mo	$294,000	$161	62
13316 Riverlake Dr	0.38mi	3/2.0	2,214 (+20%)	5mo	$340,000	$154	53
76233 Green Valley Road St	0.59mi	3/2.0	1,670 (-10%)	6mo	$215,000	$129	51
14300 S Lakeshore Dr	0.95mi	3/2.5	1,822 (-1%)	14mo	$361,000	$198	49
14460 Riverlake Dr	0.96mi	3/2.0	1,800 (-3%)	20mo	$325,000	$181	44
13603 Riverlake Dr	0.69mi	4/3.5 (+1)	2,206 (+19%)	4mo	$425,000	$193	29
14380 S Lakeshore Dr	0.96mi	4/3.0 (+1)	2,084 (+13%)	10mo	$316,000	$152	26
14368 Riverlake Dr	1.08mi	4/3.0 (+1)	2,074 (+12%)	21mo	$325,000	$157	18
14135 Riverlake Dr	0.94mi	4/2.0 (+1)	2,200 (+19%)	23mo	$410,000	$186	16

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: -19.2%
• Equity multiple: 0.33×
• Total profit: $-71,936
• Equity at exit: $57,041

10-year hold

• IRR: -11.8%
• Equity multiple: 0.30×
• Total profit: $-75,314
• Equity at exit: $33,077

Cash invested: $107,117 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 20 active · 1 under contract
• Months of supply: 30.0 mo (3%/mo absorbed)
• Median asking: $338,990 ($163/sqft)
• Median days on market: 206 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +27.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70435

• Home prices YoY: -27.3%
• Active inventory: 421
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,148 medium
• Mortgage (P&I): −$2,006
• Tax est. 1.5%: −$478 /mo · $5,738/yr
• Insurance: −$159
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $-157

Break-even live

Break-even rent $3,347

Max offer price $359,861

Occupancy floor 100%

Sensitivity live

Price	-10% $107	-5% $-25	+0% $-157	+5% $-289	+10% $-421
Rent	-10% $-406	-5% $-281	+0% $-157	+5% $-33	+10% $92
Rate	-1.0pp $36	-0.5pp $-60	base $-157	+0.5pp $-256	+1.0pp $-357

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: $95,641
• Closing costs: $11,477
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,650	$2.15	61d	1	1.47mi
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,950	$2.32	52d	1	1.47mi

Listing history 50 events

1. 2026-08-08
   days on market $319,990 Active 206 DOM
2. 2026-08-07
   days on market $319,990 Active 205 DOM
3. 2026-08-06
   days on market $319,990 Active 204 DOM
4. 2026-08-05
   days on market $319,990 Active 203 DOM
5. 2026-08-04
   days on market $319,990 Active 202 DOM
6. 2026-08-03
   days on market $319,990 Active 201 DOM
7. 2026-07-31
   days on market $319,990 Active 198 DOM
8. 2026-07-30
   days on market $319,990 Active 196 DOM
9. 2026-07-28
   days on market $319,990 Active 195 DOM
10. 2026-07-26
    days on market $319,990 Active 193 DOM
11. 2026-07-24
    days on market $319,990 Active 191 DOM
12. 2026-07-23
    days on market $319,990 Active 190 DOM
13. 2026-07-22
    days on market $319,990 Active 189 DOM
14. 2026-07-21
    days on market $319,990 Active 188 DOM
15. 2026-07-20
    days on market $319,990 Active 187 DOM
16. 2026-07-18
    days on market $319,990 Active 185 DOM
17. 2026-07-18
    days on market $319,990 Active 184 DOM
18. 2026-07-16
    days on market $319,990 Active 183 DOM
19. 2026-07-15
    days on market $319,990 Active 182 DOM
20. 2026-07-14
    days on market $319,990 Active 181 DOM
21. 2026-07-13
    days on market $319,990 Active 180 DOM
22. 2026-07-13
    days on market $319,990 Active 179 DOM
23. 2026-07-11
    days on market $319,990 Active 178 DOM
24. 2026-07-10
    days on market $319,990 Active 177 DOM
25. 2026-07-09
    days on market $319,990 Active 176 DOM
26. 2026-07-07
    days on market $319,990 Active 174 DOM
27. 2026-07-06
    days on market $319,990 Active 173 DOM
28. 2026-07-05
    days on market $319,990 Active 172 DOM
29. 2026-07-03
    days on market $319,990 Active 170 DOM
30. 2026-07-02
    days on market $319,990 Active 169 DOM
31. 2026-07-01
    days on market $319,990 Active 168 DOM
32. 2026-06-30
    days on market $319,990 Active 167 DOM
33. 2026-06-29
    days on market $319,990 Active 166 DOM
34. 2026-06-28
    days on market $319,990 Active 165 DOM
35. 2026-06-27
    days on market $319,990 Active 164 DOM
36. 2026-06-27
    days on market $319,990 Active 163 DOM
37. 2026-06-25
    days on market $319,990 Active 161 DOM
38. 2026-06-22
    days on market $319,990 Active 159 DOM
39. 2026-06-21
    days on market $319,990 Active 158 DOM
40. 2026-06-18
    days on market $319,990 Active 155 DOM
41. 2026-06-17
    days on market $319,990 Active 154 DOM
42. 2026-06-16
    days on market $319,990 Active 153 DOM
43. 2026-06-15
    days on market $319,990 Active 152 DOM
44. 2026-06-13
    days on market $319,990 Active 150 DOM
45. 2026-06-10
    days on market $319,990 Active 147 DOM
46. 2026-06-09
    days on market $319,990 Active 146 DOM
47. 2026-06-08
    days on market $319,990 Active 145 DOM
48. 2026-06-07
    days on market $319,990 Active 144 DOM
49. 2026-06-03
    days on market $319,990 Active 140 DOM
50. 2026-06-02
    days on market $319,990 Active 139 DOM

ⓘ 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: $37,776
• − Mortgage interest: −$21,429
• − Property taxes: −$5,738
• − Insurance: −$1,913
• − Repairs & maintenance: −$3,022
• − Management: −$3,022
• − Depreciation: −$11,129
• Taxable loss: −$8,478
• Est. tax savings @ 24.0%: +$2,035
• After-tax cash flow: $152/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 · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $9,240–$27,720 screening

The Trillium IV H home is in good condition with a well-maintained exterior and interior. Minor updates such as painting and landscaping can significantly enhance its value for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Resale Kitchen appliances — Upgrading to modern appliances can increase the home's appeal to potential buyers. ↑
• Resale Bathroom fixtures — Modernizing bathroom fixtures can enhance the home's appeal to potential buyers. ↑
• Rental HVAC system maintenance — A well-maintained HVAC system can attract tenants and reduce maintenance costs. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Covington Elementary School C- LA #108/646 Nat'l #11,263/41,679 Middle William Pitcher Junior High School F LA #112/218 Nat'l #8,750/14,009 High Covington High School F LA #90/265 Nat'l #8,877/17,239

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

B Composite livability gradescore 75/100

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 · 286,725 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: 3% of renters

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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%

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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%

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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

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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

1 event — show timeline

• 2026-01-14 Listed $319,990 Zillow