3026 S Palm Dr · Slidell, LA 70458

$259,300

4 bd · 2.5 ba · 2,878 sqft · SingleFamily public records · 84 Days on market

Built 1977 0.30 ac lot $90/sqft · 26% below area Est $366k · 29% under

---

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 +16.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +5.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss your opportunity to own this waterfront home with inground pool, fishing dock, boat launch and RV/camper hookup. Great entertaining space inside and out! Interior features four bedrooms and two and a half baths. ***SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. ***

Key facts

• 0.3 acre lot
• Parking
• Built 1977

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 5.9% in Slidell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+1.5%/yr); 489 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($73k/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 84 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Recommended offer $243,742 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.00% ✓
• Cap rate: 7.09%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 8.3

CMA / ARV

• ARV (median comp): $365,936
• List price: $259,300
• Delta: -29.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2986 Palm Dr	0.25mi	4/3.0	2,951 (+2%)	9mo	$149,500	$51	74
2613 Carey St	0.73mi	4/3.0	2,849 (-1%)	16mo	$375,000	$132	49

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.52×
• Total profit: $-34,858
• Equity at exit: $38,662

10-year hold

• IRR: -7.4%
• Equity multiple: 0.57×
• Total profit: $-31,497
• Equity at exit: $22,420

Cash invested: $72,604 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,604 medium
• Mortgage (P&I): −$1,360
• Tax from tax record: −$417 /mo · $5,000/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $173

Break-even live

Break-even rent $2,385

Max offer price $259,300

Occupancy floor 88%

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: $64,825
• Closing costs: $7,779
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3106 Little Pl Slidell, LA	3.0	3.0	3000	$4,900	$1.63	3d	1	0.42mi

Listing history 27 events

1. 2026-06-18
   days on market $259,300 Active 84 DOM
2. 2026-06-17
   days on market $259,300 Active 83 DOM
3. 2026-06-16
   days on market $259,300 Active 82 DOM
4. 2026-06-15
   days on market $259,300 Active 81 DOM
5. 2026-06-13
   days on market $259,300 Active 79 DOM
6. 2026-06-10
   days on market $259,300 Active 76 DOM
7. 2026-06-09
   days on market $259,300 Active 75 DOM
8. 2026-06-08
   days on market $259,300 Active 74 DOM
9. 2026-06-07
   days on market $259,300 Active 73 DOM
10. 2026-06-03
    days on market $259,300 Active 69 DOM
11. 2026-06-02
    days on market $259,300 Active 68 DOM
12. 2026-06-01
    days on market $259,300 Active 67 DOM
13. 2026-05-31
    days on market $259,300 Active 66 DOM
14. 2026-03-26
    listed $259,300 Active 435-char remark

    Show marketing remark (445 chars)

    Don't miss your opportunity to own this waterfront home with inground pool, fishing dock, boat launch and RV/camper hookup. Great entertaining space inside and out! Interior features four bedrooms and two and a half baths. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * *

15. 2026-03-26
    listed $259,300 Active 445-char remark

    Show marketing remark (445 chars)

    Don't miss your opportunity to own this waterfront home with inground pool, fishing dock, boat launch and RV/camper hookup. Great entertaining space inside and out! Interior features four bedrooms and two and a half baths. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * *

16. 2025-03-11
    listed $369,000 Active
17. 2024-10-01
    price $349,000
18. 2024-09-30
    price $349,000
19. 2024-07-25
    price $369,900
20. 2024-06-11
    listed $369,900 Active
21. 2022-07-08
    soldstatus $359,000 Closed
22. 2022-07-08
    soldstatus $359,000
23. 2022-05-31
    status Pending
24. 2022-05-24
    price $359,000
25. 2022-05-12
    listed $369,000 Active
26. 2022-05-12
    listed $359,000
27. 2003-05-14
    soldstatus $172,500

ⓘ 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: $5,000 · $417/mo
• Projected year-2 tax: $5,000 · $417/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $31,252
• − Mortgage interest: −$14,525
• − Property taxes: −$5,000
• − Insurance: −$1,296
• − Repairs & maintenance: −$2,500
• − Management: −$2,500
• − Depreciation: −$7,543
• Taxable loss: −$2,113
• Est. tax savings @ 24.0%: +$507
• After-tax cash flow: $2,582/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

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

+50.3% since first listed

14 events — show timeline

• 2026-03-26 Listed $259,300 GSREIN
• 2026-03-26 Listed $259,300 AcadianaMLS
• 2025-03-11 Listed $369,000 AcadianaMLS
• 2024-10-01 Price Changed $349,000 AcadianaMLS
• 2024-09-30 Price Changed $349,000 GSREIN
• 2024-07-25 Price Changed $369,900 GSREIN
• 2024-06-11 Listed $369,900 AcadianaMLS
• 2022-07-08 Sold (Public Records) $359,000 Public Records
• 2022-07-08 Sold (MLS) $359,000 GSREIN
• 2022-05-31 Pending — GSREIN
• 2022-05-24 Price Changed $359,000 GSREIN
• 2022-05-12 Listed $359,000 AcadianaMLS
• 2022-05-12 Listed $369,000 GSREIN
• 2003-05-14 Sold (Public Records) $172,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $5,000 · -6.4% YoY. Source: county tax records.