70058 3rd St · Abita Springs, LA 70433

$244,500

3 bd · 2.0 ba · 1,430 sqft · SingleFamily public records · 9 Days on market

Built 2008 6,969 sqft lot Est $242k · 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 +11.7/30.0
• ARV discount +7.0/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and move-in ready, this Covington 3 bed, 2 bath home offers an inviting open floor plan filled with natural light. The kitchen features a convenient bar-top island that overlooks the spacious living area, creating a seamless flow for everyday living and entertaining. Beautiful wood flooring adds warmth and character throughout the main living spaces. The primary suite features a spacious ensuite bathroom complete with a separate soaking tub, walk-in shower, and walk-in closet. Outside, the fenced backyard offers a covered patio and plenty of space for entertaining, outdoor gatherings, play, or pets. Meticulously maintained and exceptionally cared for, this home is ready for its next owner to move right in and enjoy.

Key facts

• Open floor plan
• Covered patio
• Walk-in shower

Tags

• OPEN FLOOR PLAN
• BAR-TOP ISLAND
• FENCED BACKYARD
• COVERED PATIO
• ENSUITE BATHROOM
• WALK-IN SHOWER

Property features AI

Exterior

• Parking: Two parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Brick construction; Shingle roof; Slab foundation; Very good condition
• Construction: Built with brick; Shingle roof; Slab foundation
• Exterior features: Fenced yard; City lot; Rectangular lot; Lot dimensions approximately 58 x 110

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Pantry
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $244k.

Deal economics

• At list price, monthly cash flow is $-71 ($-855/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (26.0% below list).
• Recommended offer: $181k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.6% 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: crime A+, cost of living A+, housing 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; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 19y 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.

Risks & watch-outs

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

Recommended offer $180,861 (26.0% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.74% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $241,670
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70109 4th St	0.11mi	3/2.0	1,415 (-1%)	4mo	$236,000	$167	90
70085 4th St	0.07mi	3/2.0	1,554 (+9%)	1mo	$252,500	$162	82
70151 4th St	0.21mi	3/2.0	1,325 (-7%)	3mo	$244,500	$185	76
70051 5th St	0.08mi	3/2.0	1,269 (-11%)	4mo	$215,000	$169	74
70312 7th St	0.54mi	3/2.0	1,410 (-1%)	2mo	$224,000	$159	71
70281 C St	0.52mi	3/2.0	1,463 (+2%)	2mo	$215,000	$147	70
711 Lionel Ct	0.61mi	3/2.0	1,497 (+5%)	2mo	$270,000	$180	62
70398 6th St	0.68mi	3/2.0	1,407 (-2%)	4mo	$228,000	$162	62
70311 11th St	0.56mi	3/2.0	1,335 (-7%)	3mo	$235,000	$176	60
70323 10th St	0.66mi	3/2.0	1,368 (-4%)	3mo	$215,000	$157	59
70333 H St	0.72mi	4/2.0 (+1)	1,404 (-2%)	2mo	$239,900	$171	57
70432 2nd St	0.71mi	3/2.0	1,347 (-6%)	2mo	$227,500	$169	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: -17.1%
• Equity multiple: 0.39×
• Total profit: $-41,833
• Equity at exit: $36,456

10-year hold

• IRR: -7.1%
• Equity multiple: 0.53×
• Total profit: $-32,456
• Equity at exit: $21,140

Cash invested: $68,460 (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: 11.3×

Monthly cashflow live

• Estimated rent: $1,809 high
• Mortgage (P&I): −$1,282
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-71

Break-even live

Break-even rent $1,899

Max offer price $231,911

Occupancy floor 99%

Sensitivity live

Price	-10% $67	-5% $-2	+0% $-71	+5% $-140	+10% $-210
Rent	-10% $-214	-5% $-143	+0% $-71	+5% $0	+10% $72
Rate	-1.0pp $52	-0.5pp $-9	base $-71	+0.5pp $-135	+1.0pp $-199

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: $61,125
• Closing costs: $7,335
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	4d	1	0.05mi
70040 2nd St Covington, LA	3.0	2.0	1416	$2,000	$1.41	4d	1	0.08mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	25d	1	0.14mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	18d	1	0.33mi
70252 8th St Covington, LA	3.0	2.0	1230	$1,650	$1.34	25d	1	0.44mi
70266 7th St Covington, LA	3.0	2.0	1736	$1,575	$0.91	45d	1	0.45mi
70293 7th St Covington, LA	3.0	2.0	1450	$1,695	$1.17	45d	1	0.48mi
70300 7th St Covington, LA	3.0	2.0	1448	$1,750	$1.21	25d	1	0.51mi
70330 A St Covington, LA	3.0	2.0	1163	$1,600	$1.38	21d	1	0.55mi
711 Lionel Ct Abita Springs, LA	3.0	2.0	1497	$2,000	$1.34	25d	1	0.59mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	45d	1	0.64mi
70361 D St Covington, LA	3.0	2.0	1409	$1,750	$1.24	25d	1	0.68mi
70412 1st St Covington, LA	3.0	2.0	1182	$1,700	$1.44	18d	1	0.69mi
70371 10th St Covington, LA	3.0	2.0	1212	$1,695	$1.40	45d	1	0.74mi
70439 8th St Covington, LA	3.0	2.0	1267	$1,500	$1.18	25d	1	0.77mi
70466 1st St Covington, LA	3.0	2.0	1443	$2,100	$1.46	18d	1	0.79mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,407	$1.46	3d	9	0.82mi
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,600	$1.89	13d	2	0.82mi
70403 L St Covington, LA	3.0	2.0	1250	$1,695	$1.36	45d	1	0.98mi
114 Lazy Creek Dr Mandeville, LA	3.0	2.0	1434	$2,100	$1.46	45d	1	1.10mi
4025 Monarch Ln Covington, LA	3.0	2.0	1853	$2,800	$1.51	45d	1	1.11mi
445 Tiger Ave Covington, LA	3.0	2.0	1538	$2,300	$1.50	25d	1	1.12mi
103 Covington Meadow Cir Unit F Covington, LA	3.0	2.5	1476	$1,700	$1.15	45d	1	1.17mi
103 Covington Meadow Cir Unit E Covington, LA	3.0	2.5	1476	$1,700	$1.15	25d	1	1.17mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	4d	1	1.19mi
308 Robinhood Dr Covington, LA	3.0	2.0	1650	$1,800	$1.09	4d	1	1.22mi
100 Covington Meadow Cir Unit D Covington, LA	3.0	2.5	1356	$1,600	$1.18	18d	1	1.22mi
104 Covington Meadow Cir Unit I Covington, LA	3.0	2.5	1476	$1,600	$1.08	25d	1	1.23mi
19425 Slemmer Rd Unit 2 Covington, LA	3.0	2.0	1100	$1,100	$1.00	22d	1	1.25mi
110 Robinhood Dr Covington, LA	3.0	2.0	1600	$1,500	$0.94	45d	1	1.31mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,525	$2.34	3d	12	1.42mi

Listing history 7 events

1. 2026-06-21
   days on market $244,500 Active 9 DOM
2. 2026-06-18
   days on market $244,500 Active 6 DOM
3. 2026-06-17
   days on market $244,500 Active 5 DOM
4. 2026-06-16
   days on market $244,500 Active 4 DOM
5. 2026-06-15
   days on market $244,500 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $244,500 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: $1,392 · $116/mo
• Projected year-2 tax: $1,392 · $116/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,703
• − Mortgage interest: −$13,696
• − Property taxes: −$1,392
• − Insurance: −$1,222
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$7,113
• Taxable loss: −$5,192
• Est. tax savings @ 24.0%: +$1,246
• After-tax cash flow: $391/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 — 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

• County: Saint Tammany Parish · 228,296 people
• 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

+34.3% since first listed

9 events — show timeline

• 2026-06-12 Listed $244,500 GSREIN
• 2026-06-12 Listed $244,500 AcadianaMLS
• 2023-03-29 Sold (MLS) $237,000 GSREIN
• 2023-03-01 Contingent — GSREIN
• 2023-01-13 Listed $237,000 GSREIN
• 2023-01-13 Listed $237,000 AcadianaMLS
• 2007-04-16 Sold (MLS) $186,450 GSREIN
• 2007-02-12 Listed $182,000 AcadianaMLS
• 2007-02-12 Listed $182,000 GSREIN

Property tax history

-3.1%/yr

Latest (2025): $1,392 · -3.6% YoY. Source: county tax records.