1229 W Presidents Dr · Covington, LA 70433

$259,000

4 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 3 Days on market

Built 1980 Est $385k · 33% under

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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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unique opportunity that won't last. This stylish mid-century modern with CURB APPEAL sits on an OVERSIZED corner lot nestled in the trees of one of Covington's most desirable neighborhoods. LOCATION always wins. The OPEN-CONCEPT great room lets in abundant 360 degree natural light with a Frank Lloyd Wright-style design. Four separate bedrooms with Anderson windows present a scenic view of the wooded grounds and herb garden. Spacious horseshoe driveway allows up to 4 VEHICLES to park inside the large carport. Bonus separate WORKSHOP on the property provides space for STORAGE and flexible room for hobbies or work. This rare property offers charm, tranquility, and privacy in an unbeatable neighborhood. Flood zone X, Roof replaced after Hurricane Ida.

Key facts

• Oversized corner lot
• Anderson windows
• Herb garden

Tags

• OVERSIZED CORNER LOT
• OPEN-CONCEPT GREAT ROOM
• ANDERSON WINDOWS
• HORSESHOE DRIVEWAY
• WORKSHOP
• HERB GARDEN

Property features AI

Exterior

• Parking: Carport; Off-street parking; Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Raised foundation; Average condition
• Construction: Built with cedar, glass, shingle siding and shake siding; Metal roof; Shingle roof; Raised foundation
• Exterior features: Corner lot; City lot; Oversized lot; Shed(s); Workshop

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Wall furnace; Ductless cooling; Wall unit cooling
• Interior features: Gas fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Cap rate 8.4% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 529 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $8k 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 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 $165k; list at $259k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $259,000

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: 1.02% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $385,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1108 W 16th Ave	0.37mi	3/2.0 (-1)	1,727 (-4%)	2mo	$287,000	$166	69
1217 W 15th Ave	0.26mi	3/2.5 (-1)	1,741 (-3%)	9mo	$428,000	$246	68
502 W 7th Ave	0.52mi	4/2.0	1,756 (-2%)	9mo	$375,000	$214	64
607 S Taylor St	0.37mi	3/2.0 (-1)	1,646 (-9%)	7mo	$189,000	$115	57
507 W 7th Ave	0.54mi	4/2.0	1,984 (+10%)	1mo	$440,000	$222	57
527 S Filmore St	0.36mi	3/2.0 (-1)	1,554 (-14%)	0mo	$249,000	$160	55
1020 W 19th Ave	0.59mi	3/2.5 (-1)	1,698 (-6%)	3mo	$272,000	$160	54
1116 W 19th Ave	0.59mi	4/2.5	2,005 (+11%)	1mo	$459,000	$229	51
18 Pecan Grove Ct	0.72mi	3/2.0 (-1)	1,675 (-7%)	0mo	$276,000	$165	50
1023 W 19th Ave	0.55mi	4/2.5	1,977 (+10%)	9mo	$439,000	$222	48
224 W St. Mary Dr	0.75mi	3/1.5 (-1)	1,702 (-5%)	7mo	$82,000	$48	43
1537 Darlington St	0.65mi	4/2.5	2,014 (+12%)	7mo	$473,000	$235	42

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-8,860
• Equity at exit: $38,618

10-year hold

• IRR: 7.8%
• Equity multiple: 1.62×
• Total profit: $45,067
• Equity at exit: $22,394

Cash invested: $72,520 (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: 529
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,642 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$156 /mo · $1,868/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $465

Break-even live

Break-even rent $2,053

Max offer price $259,000

Occupancy floor 77%

Sensitivity live

Price	-10% $612	-5% $539	+0% $465	+5% $392	+10% $319
Rent	-10% $257	-5% $361	+0% $465	+5% $570	+10% $674
Rate	-1.0pp $596	-0.5pp $531	base $465	+0.5pp $398	+1.0pp $330

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 W 18th Ave Covington, LA	3.0	3.0	1926	$3,600	$1.87	12d	1	0.57mi
719 W 18th Ave Covington, LA	3.0	3.0	1926	$3,600	$1.87	12d	1	0.58mi
19638 Calden CT Covington, LA	3.0	2.0	1451	$2,250	$1.55	11d	1	1.03mi
19690 Calden CT Covington, LA	4.0	2.5	1826	$2,300	$1.26	44d	1	1.03mi
19638 Calden CT Covington, LA	3.0	2.0	1451	$2,250	$1.55	24d	1	1.03mi
1915 S Jahncke Ave Covington, LA	3.0	2.0	1489	$1,800	$1.21	4d	1	1.19mi
720 N Tyler St Covington, LA	3.0	2.0	1336	$1,500	$1.12	44d	1	1.23mi

Listing history 5 events

1. 2026-06-16
   status $259,000 Pending 3 DOM
2. 2026-06-15
   status $259,000 Active Under Contract 3 DOM
3. 2026-06-15
   days on market $259,000 Active 3 DOM
4. 2026-06-13
   remarks 699-char remark
5. 2026-06-13
   listed $259,000 Active 1 DOM

ⓘ 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: $1,868 · $156/mo
• Projected year-2 tax: $1,868 · $156/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,705
• − Mortgage interest: −$14,508
• − Property taxes: −$1,868
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,536
• − Management: −$2,536
• − Depreciation: −$7,535
• Taxable income: $1,427
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $5,243/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

• Census place: Covington, LA
• 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

+76.2% since first listed

12 events — show timeline

• 2026-06-12 Listed $259,000 AcadianaMLS
• 2026-06-12 Listed $259,000 GSREIN
• 2004-09-21 Sold (Public Records) $165,000 Public Records
• 2004-09-17 Sold (MLS) $165,000 GSREIN
• 2004-05-11 Listed $169,900 GSREIN
• 2004-05-11 Listed $169,900 AcadianaMLS
• 2004-03-24 Sold (MLS) $118,500 GSREIN
• 2003-11-20 Listed $124,900 GSREIN
• 2003-11-20 Listed $124,900 AcadianaMLS
• 1999-12-14 Sold (MLS) $147,000 GSREIN
• 1999-09-06 Listed $147,000 GSREIN
• 1999-09-06 Listed $147,000 AcadianaMLS

Property tax history

+0.5%/yr

Latest (2025): $1,868 · -3.7% YoY. Source: county tax records.