70468 H St · Covington, LA 70433

$239,000

3 bd · 2.0 ba · 1,377 sqft · SingleFamily public records · 37 Days on market

Built 2019 $174/sqft · at area comps Est $235k · at est.

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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 +13.6/30.0
• ARV discount +6.7/15.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located in Covington just off Harrison Avenue, this 3-bedroom, 2-bath home offers an open floor plan that feels spacious yet keeps the kitchen slightly tucked away. Consistent flooring throughout makes cleaning a breeze (your Roomba will thank you), and the laundry room off the kitchen provides extra storage. The back deck overlooks a large yard with a pergola near the rear suited for hiding from the Louisiana sun, fire pits, outdoor movies, or weekend entertaining. Gravel parking fits two cars comfortably. Location is close to all shopping, hospitals, interstate, movie theater, and it's less than 3 miles from the Covington Trailhead and Tammany Trace. Priced under $250,000 and zoned for Fontainebleau Junior High and High School, it's a great find for first-time buyers seeking convenience and value. (4-hour advance notice for showings)

Key facts

• Open floor plan
• Gravel parking
• Laundry room

Tags

• OPEN FLOOR PLAN
• LAUNDRY ROOM
• BACK DECK
• LARGE YARD
• PRIVATE COVERED AREA
• GRAVEL PARKING

Property features AI

Exterior

• Parking: Driveway with two parking spaces
• Security: Smoke detectors
• Utilities: Well water; Septic tank
• Home design: Single-story home; Entry level: Raised foundation; Excellent condition
• Construction: Hardboard exterior; Shingle roof; Raised foundation; All original year built details
• Exterior features: Patio; Concrete and wood patio/porch

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Granite counters; Pantry; Stainless steel appliances
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Carbon monoxide detector; Cathedral and vaulted ceilings; Granite counters; High ceilings; Pantry; Stainless steel appliances

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $15 ($182/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (21.4% below list).
• Recommended offer: $188k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.9% 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: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% FRL); Fontainebleau Junior High School (math 38% / reading 62%, grade C, #26 of 218 statewide, top 12%, 877 students, 37% FRL); Fontainebleau High School (math 56% / reading 61%, grade C, #23 of 265 statewide, top 9%, 1,677 students, 33% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 530 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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 37 days — a 3% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $189k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $187,754 (21.4% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 10.6

CMA / ARV

• ARV (median comp): $234,996
• List price: $239,000
• Delta: 1.70%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70519 K St	0.20mi	3/2.0	1,374 (-0%)	1mo	$257,000	$187	89
70421 G St	0.08mi	3/2.0	1,280 (-7%)	3mo	$224,000	$175	82
70381 L St	0.29mi	3/2.0	1,322 (-4%)	1mo	$218,000	$165	79
70333 H St	0.26mi	4/2.0 (+1)	1,404 (+2%)	2mo	$239,900	$171	78
70432 2nd St	0.41mi	3/2.0	1,347 (-2%)	2mo	$227,500	$169	76
70405 F St	0.13mi	3/2.0	1,200 (-13%)	1mo	$182,000	$152	71
70281 C St	0.39mi	3/2.0	1,463 (+6%)	2mo	$215,000	$147	70
70448 D St	0.15mi	3/2.0	1,195 (-13%)	3mo	$199,000	$167	68
70312 7th St	0.71mi	3/2.0	1,410 (+2%)	2mo	$224,000	$159	61
70325 L St	0.36mi	3/2.0	1,564 (+14%)	0mo	$190,000	$121	60
70261 K St	0.44mi	3/2.0	1,230 (-11%)	2mo	$245,000	$199	60
70151 4th St	0.75mi	3/2.0	1,325 (-4%)	3mo	$244,500	$185	56

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.47×
• Total profit: $-35,341
• Equity at exit: $35,636

10-year hold

• IRR: -4.2%
• Equity multiple: 0.71×
• Total profit: $-19,310
• Equity at exit: $20,664

Cash invested: $66,920 (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 70433

• Rents YoY: 4.3%
• Active inventory: 530
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,878 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $15

Break-even live

Break-even rent $1,858

Max offer price $239,000

Occupancy floor 94%

Sensitivity live

Price	-10% $150	-5% $83	+0% $15	+5% $-52	+10% $-120
Rent	-10% $-133	-5% $-59	+0% $15	+5% $89	+10% $163
Rate	-1.0pp $136	-0.5pp $76	base $15	+0.5pp $-47	+1.0pp $-110

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4025 Monarch Ln Covington, LA	3.0	2.0	1853	$2,800	$1.51	45d	1	0.21mi
70361 D St Covington, LA	3.0	2.0	1409	$1,750	$1.24	25d	1	0.22mi
70403 L St Covington, LA	3.0	2.0	1250	$1,695	$1.36	45d	1	0.26mi
70466 1st St Covington, LA	3.0	2.0	1443	$2,100	$1.46	18d	1	0.35mi
70412 1st St Covington, LA	3.0	2.0	1182	$1,700	$1.44	18d	1	0.36mi
70330 A St Covington, LA	3.0	2.0	1163	$1,600	$1.38	21d	1	0.38mi
70439 8th St Covington, LA	3.0	2.0	1267	$1,500	$1.18	25d	1	0.68mi
70293 7th St Covington, LA	3.0	2.0	1450	$1,695	$1.17	45d	1	0.70mi
70300 7th St Covington, LA	3.0	2.0	1448	$1,750	$1.21	25d	1	0.71mi
70266 7th St Covington, LA	3.0	2.0	1736	$1,575	$0.91	45d	1	0.74mi
212 Covington Cottage Ln Covington, LA	3.0	2.0	1690	$2,275	$1.35	45d	1	0.74mi
70371 10th St Covington, LA	3.0	2.0	1212	$1,695	$1.40	45d	1	0.78mi
70252 8th St Covington, LA	3.0	2.0	1230	$1,650	$1.34	25d	1	0.80mi
70040 2nd St Covington, LA	3.0	2.0	1416	$2,000	$1.41	5d	1	0.90mi
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	5d	1	0.90mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	25d	1	0.94mi
711 Lionel Ct Abita Springs, LA	3.0	2.0	1497	$2,000	$1.34	25d	1	0.96mi
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,600	$1.89	13d	2	1.05mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	18d	1	1.10mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	45d	1	1.12mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,407	$1.46	3d	9	1.20mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,856	$2.16	3d	18	1.22mi
19392 Crawford Rd Covington, LA	2.0	2.5	1721	$1,600	$0.93	45d	1	1.47mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	4d	1	1.48mi
445 Tiger Ave Covington, LA	3.0	2.0	1538	$2,300	$1.50	25d	1	1.50mi

Listing history 23 events

1. 2026-06-21
   days on market $239,000 Active 37 DOM
2. 2026-06-18
   days on market $239,000 Active 34 DOM
3. 2026-06-17
   days on market $239,000 Active 33 DOM
4. 2026-06-16
   days on market $239,000 Active 32 DOM
5. 2026-06-15
   days on market $239,000 Active 31 DOM
6. 2026-06-13
   days on market $239,000 Active 29 DOM
7. 2026-06-10
   days on market $239,000 Active 26 DOM
8. 2026-06-09
   days on market $239,000 Active 25 DOM
9. 2026-06-08
   days on market $239,000 Active 24 DOM
10. 2026-06-07
    days on market $239,000 Active 23 DOM
11. 2026-06-03
    days on market $239,000 Active 19 DOM
12. 2026-06-02
    days on market $239,000 Active 18 DOM
13. 2026-06-01
    days on market $239,000 Active 17 DOM
14. 2026-05-31
    days on market $239,000 Active 16 DOM
15. 2026-05-15
    listed $239,000 Active 860-char remark

    Show marketing remark (860 chars)

    Conveniently located in Covington just off Harrison Avenue, this 3-bedroom, 2-bath home offers an open floor plan that feels spacious yet keeps the kitchen slightly tucked away. Consistent flooring throughout makes cleaning a breeze (your Roomba will thank you), and the laundry room off the kitchen provides extra storage. The back deck overlooks a large yard with a pergola near the rear suited for hiding from the Louisiana sun, fire pits, outdoor movies, or weekend entertaining. Gravel parking fits two cars comfortably. Location is close to all shopping, hospitals, interstate, movie theater, and it's less than 3 miles from the Covington Trailhead and Tammany Trace. Priced under $250,000 and zoned for Fontainebleau Junior High and High School, it's a great find for first-time buyers seeking convenience and value. (4-hour advance notice for showings)

16. 2026-05-15
    listed $239,000 Active 872-char remark

    Show marketing remark (860 chars)

    Conveniently located in Covington just off Harrison Avenue, this 3-bedroom, 2-bath home offers an open floor plan that feels spacious yet keeps the kitchen slightly tucked away. Consistent flooring throughout makes cleaning a breeze (your Roomba will thank you), and the laundry room off the kitchen provides extra storage. The back deck overlooks a large yard with a pergola near the rear suited for hiding from the Louisiana sun, fire pits, outdoor movies, or weekend entertaining. Gravel parking fits two cars comfortably. Location is close to all shopping, hospitals, interstate, movie theater, and it's less than 3 miles from the Covington Trailhead and Tammany Trace. Priced under $250,000 and zoned for Fontainebleau Junior High and High School, it's a great find for first-time buyers seeking convenience and value. (4-hour advance notice for showings)

17. 2019-07-16
    soldstatus $189,000
18. 2019-07-08
    soldstatus $189,000 Closed
19. 2019-06-28
    soldstatus $186,000
20. 2019-05-31
    status Pending
21. 2019-05-09
    listed $189,900
22. 2019-05-09
    listed $189,900 Active
23. 2018-10-31
    listed $189,900

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,382 · $115/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: $22,530
• − Mortgage interest: −$13,388
• − Property taxes: −$1,382
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$6,953
• Taxable loss: −$3,992
• Est. tax savings @ 24.0%: +$958
• After-tax cash flow: $1,140/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 — 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 · 228,296 people
• City population: 64,351
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1287.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

+25.9% since first listed

9 events — show timeline

• 2026-05-15 Listed $239,000 GSREIN
• 2026-05-15 Listed $239,000 AcadianaMLS
• 2019-07-16 Sold (Public Records) $189,000 Public Records
• 2019-07-08 Sold (MLS) $189,000 GSREIN
• 2019-06-28 Sold (Public Records) $186,000 Public Records
• 2019-05-31 Pending — GSREIN
• 2019-05-09 Listed $189,900 GSREIN
• 2019-05-09 Listed $189,900 AcadianaMLS
• 2018-10-31 Listed $189,900 AcadianaMLS

Property tax history

+18.8%/yr

Latest (2025): $1,382 · -3.5% YoY. Source: county tax records.