2411 Jay St · Slidell, LA 70460

$182,500

3 bd · 2.0 ba · 1,206 sqft · SingleFamily public records · 32 Days on market

Built 1998 Est $165k · 10% over

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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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +4.6/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this warm and inviting home in a quiet Slidell neighborhood that checks all the boxes. Inside, the open layout flows naturally from a comfortable living area with a wood-burning fireplace to a well-equipped kitchen with a center island, generous cabinetry, and a full appliance package. Three bedrooms and two full baths offer plenty of room, with a bonus flex space that works as an office, playroom, or guest room. The primary bedroom features brand new flooring, adding a fresh touch to an already comfortable retreat. The backyard is where this property really shines. A covered patio, gazebo, detached 2-car garage, additional outbuilding, and RV parking give you options most homes simply don't. All of it tucked behind a fully fenced yard with mature trees and room to breathe. Flood quote from Neptune is $864/ year. Close to top-rated schools, everyday conveniences, and quick interstate access -- this one is move-in ready and waiting for its next chapter.

Key facts

• Generous cabinetry
• Bonus flex space
• Covered patio

Tags

• WOOD BURNING FIREPLACE
• CENTER ISLAND
• GENEROUS CABINETRY
• FULL APPLIANCE PACKAGE
• BONUS FLEX SPACE
• COVERED PATIO

Property features AI

Exterior

• Parking: Detached garage with two parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Vinyl siding; Entry on slab foundation; Very good condition
• Construction: Built with vinyl siding; Shingle roof; Slab foundation
• Exterior features: City lot; Rectangular lot; Smoke detectors

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total rooms: 8
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tray ceilings; Ceiling fans; Wood-burning fireplace
• 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 $182k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/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 $176k (3.8% below list).
• Recommended offer: $176k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 5.9% in Slidell — 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 70/100 on livability (#57 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living 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: Rents rising fast (+5.9%/yr); 241 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/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 $5k 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 32 days — a 3% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 22y 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 $140k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $175,613 (3.8% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
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: 0.96% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $165,222
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2406 Bluebird St	0.22mi	3/2.0	1,218 (+1%)	0mo	$175,000	$144	88
2523 Bluebird St	0.26mi	3/2.0	1,222 (+1%)	2mo	$155,000	$127	84
2502 Mallard St	0.12mi	3/2.0	1,291 (+7%)	3mo	$172,000	$133	80
2218 Teal St	0.27mi	3/2.0	1,262 (+5%)	3mo	$142,000	$113	77
2116 Jay St	0.36mi	3/2.0	1,170 (-3%)	3mo	$202,500	$173	76
2514 Robin St	0.16mi	3/2.0	1,334 (+11%)	2mo	$190,000	$142	73
2402 Mallard St	0.10mi	3/2.0	1,361 (+13%)	3mo	$125,000	$92	72
2110 Mallard St	0.40mi	2/2.0 (-1)	1,266 (+5%)	1mo	$125,000	$99	68
2120 Oriole St	0.34mi	2/1.0 (-1)	1,164 (-4%)	2mo	$153,000	$131	68
2517 Pelican St	0.20mi	3/2.0	1,367 (+13%)	1mo	$240,000	$176	67
2022 Mallard St	0.49mi	3/1.0	1,148 (-5%)	1mo	$165,000	$144	64
173 Lark St	0.32mi	3/2.0	1,363 (+13%)	3mo	$186,500	$137	61

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 · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-7,791
• Equity at exit: $27,211

10-year hold

• IRR: 8.5%
• Equity multiple: 1.73×
• Total profit: $37,346
• Equity at exit: $15,779

Cash invested: $51,100 (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 70460

• Rents YoY: 5.9%
• Active inventory: 241
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,756 medium
• Mortgage (P&I): −$957
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $260

Break-even live

Break-even rent $1,427

Max offer price $182,500

Occupancy floor 80%

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.16mi
2402 Pelican St Slidell, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.17mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	23d	1	0.27mi

Listing history 37 events

1. 2026-06-18
   days on market $182,500 Active 32 DOM
2. 2026-06-17
   days on market $182,500 Active 31 DOM
3. 2026-06-16
   days on market $182,500 Active 30 DOM
4. 2026-06-15
   days on market $182,500 Active 29 DOM
5. 2026-06-13
   days on market $182,500 Active 27 DOM
6. 2026-06-10
   days on market $182,500 Active 24 DOM
7. 2026-06-09
   days on market $182,500 Active 23 DOM
8. 2026-06-08
   days on market $182,500 Active 22 DOM
9. 2026-06-07
   days on market $182,500 Active 21 DOM
10. 2026-06-03
    days on market $182,500 Active 17 DOM
11. 2026-06-02
    days on market $182,500 Active 16 DOM
12. 2026-06-01
    days on market $182,500 Active 15 DOM
13. 2026-05-31
    days on market $182,500 Active 14 DOM
14. 2026-05-17
    listed $182,500 Active

    Show marketing remark (977 chars)

    Welcome to this warm and inviting home in a quiet Slidell neighborhood that checks all the boxes. Inside, the open layout flows naturally from a comfortable living area with a wood-burning fireplace to a well-equipped kitchen with a center island, generous cabinetry, and a full appliance package. Three bedrooms and two full baths offer plenty of room, with a bonus flex space that works as an office, playroom, or guest room. The primary bedroom features brand new flooring, adding a fresh touch to an already comfortable retreat. The backyard is where this property really shines. A covered patio, gazebo, detached 2-car garage, additional outbuilding, and RV parking give you options most homes simply don't. All of it tucked behind a fully fenced yard with mature trees and room to breathe. Flood quote from Neptune is $864/ year. Close to top-rated schools, everyday conveniences, and quick interstate access -- this one is move-in ready and waiting for its next chapter.

15. 2026-05-17
    listed $182,500 Active 977-char remark

    Show marketing remark (977 chars)

    Welcome to this warm and inviting home in a quiet Slidell neighborhood that checks all the boxes. Inside, the open layout flows naturally from a comfortable living area with a wood-burning fireplace to a well-equipped kitchen with a center island, generous cabinetry, and a full appliance package. Three bedrooms and two full baths offer plenty of room, with a bonus flex space that works as an office, playroom, or guest room. The primary bedroom features brand new flooring, adding a fresh touch to an already comfortable retreat. The backyard is where this property really shines. A covered patio, gazebo, detached 2-car garage, additional outbuilding, and RV parking give you options most homes simply don't. All of it tucked behind a fully fenced yard with mature trees and room to breathe. Flood quote from Neptune is $864/ year. Close to top-rated schools, everyday conveniences, and quick interstate access -- this one is move-in ready and waiting for its next chapter.

16. 2025-08-25
    price $173,000
17. 2025-08-25
    price $173,000
18. 2025-08-05
    price $175,000
19. 2025-08-05
    price $175,000
20. 2025-06-26
    listed $179,900 Active
21. 2020-01-06
    soldstatus $139,500
22. 2020-01-03
    soldstatus $139,500 Closed
23. 2019-11-02
    status Pending
24. 2019-10-25
    listed $135,000 Active
25. 2019-10-25
    listed $135,000
26. 2009-02-11
    soldstatus $155,000
27. 2008-12-18
    soldstatus $155,000
28. 2008-10-20
    listed $137,900
29. 2008-10-20
    listed $137,900
30. 2008-03-20
    soldstatus $82,000
31. 2008-03-19
    soldstatus $82,000
32. 2008-03-19
    listed $82,000
33. 2008-03-19
    listed $82,000
34. 2004-12-15
    soldstatus $103,500
35. 2004-12-06
    soldstatus $103,500
36. 2004-10-12
    listed $99,900
37. 2004-10-12
    listed $99,900

ⓘ 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: $1,134 · $94/mo
• Projected year-2 tax: $1,134 · $94/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 · 57% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,074
• − Mortgage interest: −$10,223
• − Property taxes: −$1,134
• − Insurance: −$912
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$5,309
• Taxable income: $124
• Est. tax owed @ 24.0%: −$30
• After-tax cash flow: $3,088/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 — Slidell

• Score: 70/100
• State rank: #57
• US rank: #7673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 21,669
• Household income: $62,565
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 318.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 29% Two or more races 11% Hispanic / Latino 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 13% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -93.87%
• Current HPI: 130.56
• Rent YoY: ▲ 5.91%
• 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

+82.7% since first listed

24 events — show timeline

• 2026-05-17 Listed $182,500 AcadianaMLS
• 2026-05-17 Listed $182,500 GSREIN
• 2025-08-25 Price Changed $173,000 AcadianaMLS
• 2025-08-25 Price Changed $173,000 GSREIN
• 2025-08-05 Price Changed $175,000 AcadianaMLS
• 2025-08-05 Price Changed $175,000 GSREIN
• 2025-06-26 Listed $179,900 AcadianaMLS
• 2020-01-06 Sold (Public Records) $139,500 Public Records
• 2020-01-03 Sold (MLS) $139,500 GSREIN
• 2019-11-02 Pending — GSREIN
• 2019-10-25 Listed $135,000 AcadianaMLS
• 2019-10-25 Listed $135,000 GSREIN
• 2009-02-11 Sold (Public Records) $155,000 Public Records
• 2008-12-18 Sold (MLS) $155,000 GSREIN
• 2008-10-20 Listed $137,900 AcadianaMLS
• 2008-10-20 Listed $137,900 GSREIN
• 2008-03-20 Sold (Public Records) $82,000 Public Records
• 2008-03-19 Listed $82,000 GSREIN
• 2008-03-19 Listed $82,000 AcadianaMLS
• 2008-03-19 Sold (MLS) $82,000 GSREIN
• 2004-12-15 Sold (Public Records) $103,500 Public Records
• 2004-12-06 Sold (MLS) $103,500 GSREIN
• 2004-10-12 Listed $99,900 GSREIN
• 2004-10-12 Listed $99,900 AcadianaMLS

Property tax history

-2.5%/yr

Latest (2025): $1,134 · -3.8% YoY. Source: county tax records.