74319 Zeta Ave · Covington, LA 70435

$204,000

3 bd · 2.0 ba · 1,564 sqft · SingleFamily public records · 11 Days on market

Built 2017 1.00 ac lot Est $244k · 16% under $78/mo HOA · 4% of rent

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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 +16.9/30.0
• ARV discount +14.9/15.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3 bed, 2 bath home is move-in ready! Features include a 2-car garage, and appliances such as a refrigerator, stove, microwave, washer, and dryer, all in good condition

Key facts

• Move-in ready
• 2-car garage
• 1 acre lot

Tags

• MOVE-IN READY
• 2-CAR GARAGE
• GOOD CONDITION APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/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 $197k (3.6% below list).
• Recommended offer: $197k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: 365 active listings in the ZIP; 1 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y ago; this cycle's ask is 10100% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,574 (3.6% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $243,984
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74317 Theta Ave	0.11mi	3/2.0	1,552 (-1%)	12mo	$230,000	$148	84
74326 Eta Ave	0.09mi	3/2.0	1,649 (+5%)	9mo	$230,000	$139	79
74509 Theta Ave	0.19mi	3/2.0	1,649 (+5%)	4mo	$249,900	$152	78
20152 Palm Blvd	0.06mi	3/2.0	1,389 (-11%)	3mo	$230,000	$166	76
74453 Gamma Ave	0.17mi	3/2.0	1,453 (-7%)	6mo	$229,000	$158	75
74305 Theta Dr	0.12mi	3/2.0	1,649 (+5%)	14mo	$250,000	$152	74
74526 Theta Ave	0.24mi	3/2.0	1,649 (+5%)	8mo	$258,000	$156	73
74499 Zeta Ave	0.15mi	3/2.0	1,668 (+7%)	16mo	$245,000	$147	69
20413 Palm Blvd	0.19mi	3/2.0	1,424 (-9%)	10mo	$243,200	$171	68
20056 Palm Blvd	0.19mi	3/2.0	1,344 (-14%)	1mo	$235,000	$175	66
20240 Thibodeaux Rd	0.46mi	3/2.0	1,522 (-3%)	15mo	$257,500	$169	62
74517 Beta Ave	0.28mi	3/2.0	1,340 (-14%)	12mo	$202,000	$151	53

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-24,530
• Equity at exit: $30,417

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-10,282
• Equity at exit: $17,638

Cash invested: $57,120 (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 70435

• Home prices YoY: -27.3%
• Active inventory: 365
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,966 medium
• Mortgage (P&I): −$1,070
• Tax from tax record: −$187 /mo · $2,242/yr
• Insurance: −$85
• HOA: −$78
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $133

Break-even live

Break-even rent $1,797

Max offer price $204,000

Occupancy floor 88%

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20104 Palm Blvd Covington, LA	3.0	2.0	1434	$1,750	$1.22	16d	1	0.10mi

HOA detail

• Monthly dues: $78 · $936/yr

Listing history 10 events

1. 2026-04-22
   historical $2,000
2. 2026-03-10
   listed $2,000
3. 2024-12-10
   soldstatus $210,000 Closed 181-char remark

   Show marketing remark (181 chars)

   This charming 3 bed, 2 bath home is move-in ready! Features include a 2-car garage, and appliances such as a refrigerator, stove, microwave, washer, and dryer, all in good condition

4. 2024-12-10
   soldstatus $210,000

   Show marketing remark (181 chars)

   This charming 3 bed, 2 bath home is move-in ready! Features include a 2-car garage, and appliances such as a refrigerator, stove, microwave, washer, and dryer, all in good condition

5. 2024-10-21
   status Pending 181-char remark

   Show marketing remark (181 chars)

   This charming 3 bed, 2 bath home is move-in ready! Features include a 2-car garage, and appliances such as a refrigerator, stove, microwave, washer, and dryer, all in good condition

6. 2024-10-10
   listed $204,000 Active 181-char remark

   Show marketing remark (181 chars)

   This charming 3 bed, 2 bath home is move-in ready! Features include a 2-car garage, and appliances such as a refrigerator, stove, microwave, washer, and dryer, all in good condition

7. 2024-10-10
   listed $204,000 Active

   Show marketing remark (181 chars)

   This charming 3 bed, 2 bath home is move-in ready! Features include a 2-car garage, and appliances such as a refrigerator, stove, microwave, washer, and dryer, all in good condition

8. 2017-01-17
   soldstatus $161,900 Sold 389-char remark

   Show marketing remark (389 chars)

   BRAND NEW CONSTRUCTION AND ENERGY SMART HOME!!! DSLD HOMES' BRIDGEWATER III A PLAN. SPECIAL FEATURES INCLUDE: BEAUTIFUL BIRCH CABINETS, 3CM SLAB GRANITE COUNTER TOPS IN BATHROOMS, CERAMIC TILE FLOORING IN WET AREAS, DOUBLE MASTER VANITY, RADIANT BARRIER DECKING IN ATTIC, 40 GALLON ELECTRIC WATER HEATER WITH HEAT TRAP, 14 SEER AC WITH HEAT PUMP, LOW E-3 DOUBLE INSULATED WINDOWS AND MORE!

9. 2016-10-20
   listed $161,900 389-char remark

   Show marketing remark (389 chars)

   BRAND NEW CONSTRUCTION AND ENERGY SMART HOME!!! DSLD HOMES' BRIDGEWATER III A PLAN. SPECIAL FEATURES INCLUDE: BEAUTIFUL BIRCH CABINETS, 3CM SLAB GRANITE COUNTER TOPS IN BATHROOMS, CERAMIC TILE FLOORING IN WET AREAS, DOUBLE MASTER VANITY, RADIANT BARRIER DECKING IN ATTIC, 40 GALLON ELECTRIC WATER HEATER WITH HEAT TRAP, 14 SEER AC WITH HEAT PUMP, LOW E-3 DOUBLE INSULATED WINDOWS AND MORE!

10. 2016-10-20
    listed $161,900

    Show marketing remark (389 chars)

    BRAND NEW CONSTRUCTION AND ENERGY SMART HOME!!! DSLD HOMES' BRIDGEWATER III A PLAN. SPECIAL FEATURES INCLUDE: BEAUTIFUL BIRCH CABINETS, 3CM SLAB GRANITE COUNTER TOPS IN BATHROOMS, CERAMIC TILE FLOORING IN WET AREAS, DOUBLE MASTER VANITY, RADIANT BARRIER DECKING IN ATTIC, 40 GALLON ELECTRIC WATER HEATER WITH HEAT TRAP, 14 SEER AC WITH HEAT PUMP, LOW E-3 DOUBLE INSULATED WINDOWS AND MORE!

ⓘ 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: $2,242 · $187/mo
• Projected year-2 tax: $2,242 · $187/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 6/10 Major FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 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: $23,589
• − Mortgage interest: −$11,427
• − Property taxes: −$2,242
• − Insurance: −$1,020
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − HOA: −$936
• − Depreciation: −$5,935
• Taxable loss: −$1,745
• Est. tax savings @ 24.0%: +$419
• After-tax cash flow: $2,019/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): 22,475
• Household income: $80,926
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 296.0

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 (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%

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

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

-98.8% since first listed

10 events — show timeline

• 2026-04-22 Rental Removed $2,000 GSREIN
• 2026-03-10 Listed for Rent $2,000 GSREIN
• 2024-12-10 Sold (Public Records) $210,000 Public Records
• 2024-12-10 Sold (MLS) $210,000 GSREIN
• 2024-10-21 Pending — GSREIN
• 2024-10-10 Listed $204,000 AcadianaMLS
• 2024-10-10 Listed $204,000 GSREIN
• 2017-01-17 Sold (MLS) $161,900 GSREIN
• 2016-10-20 Listed $161,900 AcadianaMLS
• 2016-10-20 Listed $161,900 GSREIN

Property tax history

+32.6%/yr

Latest (2025): $2,242 · +54.0% YoY. Source: county tax records.