73121 Chip St · Abita Springs, LA 70420

$115,000

2 bd · 2.0 ba · 843 sqft · SingleFamily · 96 Days on market

Built 2021 Good condition 0.47 ac lot $136/sqft · 7% below area Est $123k · 7% under ↓ 8% since listing

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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 +26.5/30.0
• ARV discount +10.6/15.0
• DSCR +9.1/10.0
• 1% rule +5.9/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly -- perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

Key facts

• No carpet
• Convenient access
• 0.47 acre lot

Tags

• OPEN-CONCEPT FLOOR PLAN
• NO CARPET
• LOW-MAINTENANCE LIVING
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.5% in Abita Springs — 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 77/100 on livability (#11 in LA, #3,024 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living 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: 152 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $795 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 1.09% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.37%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

• ARV (median comp): $123,403
• List price: $115,000
• Delta: -6.81%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $752
• Equity at exit: $17,147

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $25,480
• Equity at exit: $9,943

Cash invested: $32,200 (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 70420

• Home prices YoY: -28.8%
• Active inventory: 152
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$31 /mo · $376/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $305

Break-even live

Break-even rent $864

Max offer price $115,000

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73112 Putt St Abita Springs, LA	3.0	2.0	1076	$1,250	$1.16	43d	1	0.10mi

Listing history 9 events

1. 2026-06-02
   days on market $115,000 Active 96 DOM
2. 2026-06-01
   days on market $115,000 Active 95 DOM
3. 2026-05-31
   days on market $115,000 Active 94 DOM
4. 2026-04-10
   price $115,000 1150-char remark

   Show marketing remark (1155 chars)

   Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly — perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

5. 2026-04-10
   price $115,000 1155-char remark

   Show marketing remark (1155 chars)

   Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly — perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

6. 2026-03-13
   price $120,000 1150-char remark

   Show marketing remark (1155 chars)

   Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly — perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

7. 2026-03-13
   price $120,000 1155-char remark

   Show marketing remark (1155 chars)

   Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly — perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

8. 2026-02-26
   listed $125,000 Active 1150-char remark

   Show marketing remark (1155 chars)

   Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly — perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

9. 2026-02-26
   listed $125,000 Active 1155-char remark

   Show marketing remark (1155 chars)

   Tucked away among the tranquil woods of Hillcrest Country Club in Abita Springs, this charming 2-bedroom, 2-bath home offers a serene retreat with modern comfort. Just five years young, the home features a spacious, open-concept floor plan where the kitchen and living areas flow seamlessly — perfect for everyday living. The recently upgraded kitchen and primary bathroom bring a fresh, contemporary feel to the space, while the no-carpet flooring throughout enhances both style and low-maintenance functionality. Step outside to enjoy recently cleared land that opens up the natural surroundings, offering even more usable outdoor space and beautiful wooded views. Surrounded by nature and peaceful scenery, this property provides a quiet escape while keeping you close to everything that makes Abita Springs so special. Stroll through the beloved weekly farmers market, explore the one-of-a-kind Abita Mystery House museum, or simply enjoy the small-town charm that defines this beloved community. Whether you're looking for a full-time residence or a tranquil getaway, this home delivers the perfect blend of comfort, character, and convenience.

ⓘ 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: $376 · $31/mo
• Projected year-2 tax: $632 · $53/mo
• Expected delta: +$257/yr (+$21/mo · 68.3%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 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: $15,000
• − Mortgage interest: −$6,442
• − Property taxes: −$376
• − Insurance: −$575
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,345
• Taxable income: $1,862
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $3,215/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 · 13 photos

Good 75/100 Cosmetic rehab

A well-maintained, modern mobile home with good curb appeal and a good condition score. Ready for a fresh coat of paint and some landscaping to maximize its value.

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both trim landscaping — improves curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both trim landscaping — improves curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Abita Springs

• Score: 77/100
• State rank: #11
• US rank: #3024

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,965

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 (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 8% Black 7%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 19% Italian 4% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -74.38%
• Current HPI: 184.2219
• Rent YoY: —
• Metro: —
• 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

-8.0% since first listed

6 events — show timeline

• 2026-04-10 Price Changed $115,000 AcadianaMLS
• 2026-04-10 Price Changed $115,000 GSREIN
• 2026-03-13 Price Changed $120,000 AcadianaMLS
• 2026-03-13 Price Changed $120,000 GSREIN
• 2026-02-26 Listed $125,000 GSREIN
• 2026-02-26 Listed $125,000 AcadianaMLS

Property tax history

+1.1%/yr

Latest (2025): $376 · -3.3% YoY. Source: county tax records.