72475 Jasmine St · Covington, LA 70435

$185,000

4 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 12 Days on market

Built 1997 Est $175k · 6% over

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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 +24.7/30.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• ARV discount +5.0/15.0
• 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

Total renovation just completed on this 4 bedroom, 2 bath home in a highly convenient central location! This property has been completely updated with stylish plank flooring throughout and features a modern kitchen and bathrooms with slab granite countertops. Everything is new, offering a fresh and move-in-ready feel. GE appliances including refrigerator with ice maker, new white shaker style cabinets and slab granite in the kitchen. New HVAC ductwork and some components are new. The home includes two full bathrooms, spacious bedrooms, and a functional layout ideal for comfortable living. A concrete driveway provides ample parking. Enjoy easy access to Abita Springs, Covington, shopping, dining, and everyday conveniences making this an ideal spot for both work and play. What a great price for a full renovated home! New water heater and roof as well.

Key facts

• Total renovation
• New hvac ductwork
• Modern kitchen

Tags

• TOTAL RENOVATION
• MODERN KITCHEN
• SLAB GRANITE COUNTERTOPS
• NEW HVAC DUCTWORK
• CONCRETE DRIVEWAY
• EASY ACCESS TO SHOPPING

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Frame construction
• Construction: Shingle roof; Built with frame construction
• Exterior features: Outside city limits; Rectangular lot (75 x 100)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Total of 7 rooms (bedroom breakdown not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Granite counters
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 8.8% 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).
• This rent runs 31% 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 $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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts 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 $80k; list at $185k implies a 130% 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; moderate 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 $185,000

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: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.92%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $175,200
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72475 Jasmine St	0.00mi	4/2.0	1,200 (0%)	5mo	$80,500	$67	96
72433 Dahlia St	0.06mi	3/2.0 (-1)	1,309 (+9%)	9mo	$172,000	$131	70
72369 Dahlia St	0.18mi	4/2.0	1,282 (+7%)	13mo	$115,000	$90	70
72351 Rose St	0.27mi	3/1.5 (-1)	1,120 (-7%)	0mo	$163,000	$146	69
21221 Fern St	0.29mi	4/2.0	1,282 (+7%)	12mo	$100,000	$78	65
21101 Saint Ann St	0.58mi	3/2.0 (-1)	1,161 (-3%)	6mo	$235,000	$202	57
21105 Saint Ann St	0.57mi	3/2.0 (-1)	1,190 (-1%)	17mo	$205,000	$172	53
72452 Plantation St	0.67mi	3/2.5 (-1)	1,212 (+1%)	12mo	$174,500	$144	50
72345 Homestead St	0.67mi	3/2.0 (-1)	1,167 (-3%)	19mo	$230,000	$197	44
72342 Kustenmacher Rd	0.63mi	3/2.0 (-1)	1,050 (-12%)	23mo	$214,900	$205	26

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: -2.8%
• Equity multiple: 0.90×
• Total profit: $-5,411
• Equity at exit: $27,584

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $27,011
• Equity at exit: $15,995

Cash invested: $51,800 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,106 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $385

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 77%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
72475 Jasmine St Covington, LA	4.0	2.0	1200	$1,595	$1.33	43d	1	0.03mi

Listing history 10 events

1. 2026-06-18
   days on market $185,000 Active 12 DOM
2. 2026-06-17
   days on market $185,000 Active 11 DOM
3. 2026-06-16
   days on market $185,000 Active 10 DOM
4. 2026-06-15
   days on market $185,000 Active 9 DOM
5. 2026-06-13
   days on market $185,000 Active 7 DOM
6. 2026-06-10
   days on market $185,000 Active 4 DOM
7. 2026-06-09
   days on market $185,000 Active 3 DOM
8. 2026-06-08
   days on market $185,000 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $185,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $25,272
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,022
• − Management: −$2,022
• − Depreciation: −$5,382
• Taxable income: $1,784
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $4,195/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

+100.0% since first listed

11 events — show timeline

• 2026-06-06 Listed $185,000 GSREIN
• 2026-06-06 Listed $185,000 AcadianaMLS
• 2026-04-20 Listed for Rent $1,595 RAAMLS
• 2026-01-20 Relisted — GSREIN
• 2026-01-08 Sold (Public Records) $80,500 Public Records
• 2026-01-08 Sold (MLS) $80,500 GSREIN
• 2025-11-15 Contingent — GSREIN
• 2025-10-31 Price Changed $89,900 AcadianaMLS
• 2025-10-31 Price Changed $89,900 GSREIN
• 2025-10-03 Listed $92,500 GSREIN
• 2025-10-03 Listed $92,500 AcadianaMLS

Property tax history

-9.7%/yr

Latest (2025): $334 · -4.1% YoY. Source: county tax records.