700 Lakeview Ln · Covington, LA 70435

$249,999

3 bd · 2.0 ba · 1,510 sqft · SingleFamily public records · 18 Days on market

Built 2007 Est $222k · 13% over $49/mo HOA · 2% of rent

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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 +13.7/30.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ashwood model, offering a Gourmet kitchen with granite countertops and maple cabinets. Has an architectural roof and on an oversized corner lot with beautiful landscaping. Just 10 minutes from downtown Covington. Come enjoy all the amenities Penn Mill lakes has to offer including a community pool, walking trails, playground, stock fishing ponds and volleyball court. Come see your dream home!

Key facts

• Oversized corner lot
• Community pool
• Gourmet kitchen

Tags

• GOURMET KITCHEN
• GRANITE COUNTERTOPS
• MAPLE CABINETS
• ARCHITECTURAL ROOF
• OVERSIZED CORNER LOT
• COMMUNITY POOL

Property features AI

Finance

• Financial info: Not specified
• HOA & community: Homeowners association with an annual fee of $585

Exterior

• Parking: Garage with two spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Power available
• Home design: Single-story; Entry level not specified; Facing direction not specified; Property type not specified
• Construction: Brick and vinyl siding exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Covered patio/porch; Corner lot; Irregular lot; Outside city limits; Lot dimensions approximately 85 x 120

Interior

• Kitchen: Dishwasher; Oven; Refrigerator
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating; Has cooling
• Interior features: 6 total rooms; Very good condition; Smoke detector(s)
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $16 ($197/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 $206k (17.6% below list).
• Recommended offer: $206k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Covington Elementary School (math 52% / reading 52%, grade C-, #108 of 646 statewide, top 18%, 628 students, 59% FRL); Pine View Middle School (math 20% / reading 37%, grade F, #119 of 218 statewide, top 57%, 635 students, 62% FRL); Covington High School (math 32% / reading 44%, grade F, #90 of 265 statewide, top 34%, 1,660 students, 46% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 366 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 $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

• It's been on market 18 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $198k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,011 (17.6% 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. 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: 0.82% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $221,970
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 Huseman Ln	0.27mi	3/2.0	1,510 (0%)	10mo	$192,500	$127	79
75522 Beverly Dr	0.42mi	3/2.0	1,487 (-2%)	7mo	$250,000	$168	72
709 Bridle Ct	0.34mi	3/2.0	1,533 (+2%)	11mo	$245,000	$160	72
413 Penn Ct	0.34mi	3/2.0	1,736 (+15%)	3mo	$255,000	$147	57
337 Penn Mill Lakes Blvd	0.30mi	3/2.0	1,715 (+14%)	15mo	$240,000	$140	51
334 Penn Mill Lakes Blvd	0.29mi	3/2.0	1,350 (-11%)	22mo	$249,999	$185	50
76077 Carroll Dr	0.61mi	2/2.0 (-1)	1,556 (+3%)	14mo	$187,700	$121	50
15010 Lake Ramsey Rd	0.61mi	3/2.0	1,600 (+6%)	16mo	$147,000	$92	48
456 Steeple Chase Rd	0.37mi	3/2.0	1,731 (+15%)	24mo	$255,000	$147	39
76118 Carroll Dr	0.70mi	4/2.0 (+1)	1,678 (+11%)	21mo	$250,000	$149	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: -15.9%
• Equity multiple: 0.44×
• Total profit: $-39,508
• Equity at exit: $37,276

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-33,224
• Equity at exit: $21,615

Cash invested: $70,000 (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: 366
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,060 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$147 /mo · $1,763/yr
• Insurance: −$104
• HOA: −$49
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $16

Break-even live

Break-even rent $2,039

Max offer price $249,999

Occupancy floor 94%

Sensitivity live

Price	-10% $158	-5% $87	+0% $16	+5% $-54	+10% $-125
Rent	-10% $-146	-5% $-65	+0% $16	+5% $98	+10% $179
Rate	-1.0pp $142	-0.5pp $80	base $16	+0.5pp $-48	+1.0pp $-114

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
75533 Joyce Dr Covington, LA	3.0	2.0	1825	$2,150	$1.18	45d	1	1.41mi

HOA detail

• Monthly dues: $49 · $588/yr
• Likely covers: landscapingpool

Listing history 12 events

1. 2026-06-21
   days on market $249,999 Active 18 DOM
2. 2026-06-18
   days on market $249,999 Active 15 DOM
3. 2026-06-17
   days on market $249,999 Active 14 DOM
4. 2026-06-16
   days on market $249,999 Active 13 DOM
5. 2026-06-15
   days on market $249,999 Active 12 DOM
6. 2026-06-13
   days on market $249,999 Active 10 DOM
7. 2026-06-10
   days on market $249,999 Active 7 DOM
8. 2026-06-09
   days on market $249,999 Active 6 DOM
9. 2026-06-08
   days on market $249,999 Active 5 DOM
10. 2026-06-07
    days on market $249,999 Active 4 DOM
11. 2026-06-03
    remarks 395-char remark
12. 2026-06-03
    listed $249,999 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: $1,763 · $147/mo
• Projected year-2 tax: $1,763 · $147/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 4/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $24,721
• − Mortgage interest: −$14,004
• − Property taxes: −$1,763
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − HOA: −$588
• − Depreciation: −$7,273
• Taxable loss: −$4,112
• Est. tax savings @ 24.0%: +$987
• After-tax cash flow: $1,183/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

+26.3% since first listed

9 events — show timeline

• 2026-05-18 Listed $249,999 AcadianaMLS
• 2026-05-18 Listed $249,999 GSREIN
• 2023-10-25 Rental Removed $1,875 LISTANZA
• 2023-10-22 Listed for Rent $1,875 LISTANZA
• 2023-10-05 Rental Removed $1,875 GSREIN
• 2023-09-22 Listed for Rent $1,875 GSREIN
• 2007-03-23 Sold (MLS) $198,000 GSREIN
• 2007-01-12 Listed $198,000 AcadianaMLS
• 2007-01-12 Listed $198,000 GSREIN

Property tax history

+5.6%/yr

Latest (2025): $1,763 · -3.8% YoY. Source: county tax records.