3127 Effie St

Slidell, LA 70458

$98,000B

2 bd · 1.0 ba · 720 sqft · Built 1960 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,198/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $307/mo
• Annual: $3,682/yr
• Cap rate: 10.05%
• Cash-on-cash: 13.42%
• DSCR: 1.60
• 1% rule: 1.22%
• Cash to close: $27,440

Investor read

• This is a 2-bed/1.0-bath single-family listed at $98k. Condition is rated fair.
• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 16 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Glynn H. Brock Elementary School (math 32% / reading 42%, grade F, #251 of 646 statewide, top 41%, 320 students, 79% FRL); St. Tammany Junior High School (math 19% / reading 41%, grade F, #114 of 218 statewide, top 53%, 793 students, 68% FRL); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL) — zoned schools average 70% FRL vs 40% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 49% district-wide (-20 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.5%/yr); 738 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• St. Tammany County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 4y 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.
• Climate carrying-cost: severe flood risk; 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.
• Cap rate 10.0% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen backsplash — The backsplash appears outdated and could be replaced for a fresh look.
• Minor: Bathroom fixtures — The fixtures in the bathroom may need updating for a more modern look.
• Minor: Paint touch-ups — The paint on the interior walls and ceilings may need touch-ups for a fresh appearance.
• Minor: HVAC inspection — A professional inspection is recommended to ensure the HVAC system is functioning properly and to identify any potential issues.