1220 S Hwy. 59 (girod) Hwy · Mandeville, LA 70448

$299,900

4 bd · 3.5 ba · 2,485 sqft · SingleFamily public records · 370 Days on market

Built 1950 $121/sqft · 30% below area Est $550k · 45% under

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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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +4.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

Key facts

• Large lot size
• Parking
• Built 1950

Tags

• ZONED NEIGHBORHOOD COMMERCIAL
• LARGE LOT SIZE

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/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 $281k (6.3% below list).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.5% in Mandeville — 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 77/100 on livability (#13 in LA, #3,224 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing 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 (+1.1%/yr); 260 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($96k/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 $9k 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 370 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 370 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 A-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. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.9

CMA / ARV

• ARV (median comp): $549,854
• List price: $299,900
• Delta: -45.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1246 Carroll St	0.21mi	4/3.0	2,605 (+5%)	6mo	$455,900	$175	75
1533 Marigny Ave	0.34mi	4/3.0	2,387 (-4%)	8mo	$440,000	$184	69
1923 Destin St	0.27mi	3/2.5 (-1)	2,191 (-12%)	1mo	$424,000	$194	58
1837 Livingston St	0.72mi	4/3.0	2,548 (+2%)	12mo	$839,000	$329	50
849 Penn St	0.45mi	3/3.5 (-1)	2,700 (+9%)	13mo	$559,000	$207	49
109 Castine Oaks Dr	0.74mi	4/2.5	2,569 (+3%)	10mo	$425,000	$165	47
4057 Azalea Ct	0.70mi	4/2.5	2,700 (+9%)	15mo	$490,000	$181	37
1442 Carroll St	0.31mi	4/2.0	2,136 (-14%)	24mo	$399,000	$187	36
241 E Richland Dr	0.69mi	4/2.0	2,176 (-12%)	16mo	$399,000	$183	28
1611 Jackson St	0.72mi	4/2.0	2,197 (-12%)	20mo	$415,000	$189	24

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.61×
• Total profit: $-32,630
• Equity at exit: $44,716

10-year hold

• IRR: -4.4%
• Equity multiple: 0.73×
• Total profit: $-22,364
• Equity at exit: $25,930

Cash invested: $83,972 (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 70448

• Rents YoY: 1.1%
• Active inventory: 260
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,809 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$185 /mo · $2,225/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $336

Break-even live

Break-even rent $2,384

Max offer price $299,900

Occupancy floor 83%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2225 Labarre St Mandeville, LA	4.0	2.5	2100	$4,200	$2.00	3d	1	0.40mi
127 Oakwood Dr Mandeville, LA	4.0	2.0	2000	$2,000	$1.00	43d	1	0.76mi
129 Mead Ct Mandeville, LA	3.0	2.0	1580	$1,850	$1.17	3d	1	0.83mi
426 Lafitte St Mandeville, LA	3.0	2.5	1660	$2,700	$1.63	3d	1	0.87mi
68 Trace Loop Mandeville, LA	3.0	2.0	1747	$2,000	$1.14	23d	1	0.90mi
9 Trace Loop Mandeville, LA	3.0	2.0	1660	$2,300	$1.39	23d	1	1.02mi
125 Leah Dr Mandeville, LA	4.0	3.0	2106	$2,900	$1.38	3d	1	1.14mi
611 Magnolia Ridge Dr E Mandeville, LA	4.0	2.0	2120	$2,850	$1.34	43d	1	1.20mi

Listing history 22 events

1. 2026-06-18
   days on market $299,900 Active 370 DOM
2. 2026-06-17
   days on market $299,900 Active 369 DOM
3. 2026-06-16
   days on market $299,900 Active 368 DOM
4. 2026-06-15
   days on market $299,900 Active 367 DOM
5. 2026-06-13
   days on market $299,900 Active 365 DOM
6. 2026-06-10
   days on market $299,900 Active 362 DOM
7. 2026-06-09
   days on market $299,900 Active 361 DOM
8. 2026-06-08
   days on market $299,900 Active 360 DOM
9. 2026-06-07
   days on market $299,900 Active 359 DOM
10. 2026-06-03
    days on market $299,900 Active 355 DOM
11. 2026-06-02
    days on market $299,900 Active 354 DOM
12. 2026-06-01
    days on market $299,900 Active 353 DOM
13. 2026-05-31
    days on market $299,900 Active 352 DOM
14. 2026-01-14
    price $299,900 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

15. 2026-01-14
    price $299,900 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

16. 2026-01-12
    status Active 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

17. 2025-12-27
    historical 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

18. 2025-07-14
    status Active 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

19. 2025-06-16
    historical Active Under Contract 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

20. 2025-05-27
    listed $310,000 Active 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

21. 2025-05-27
    listed $310,000 Active 236-char remark

    Show marketing remark (236 chars)

    Zoned Neighborhood Commercial (Limited Use per St. Tammany use) or Residential, Priced To Sell, was adjusted and considered due to needed repairs and updating. Motivated Sellers, Easy to show, Make Appointment! Large lot size 102 x 175.

22. 2024-12-30
    listed $290,000 Active

ⓘ 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: $2,225 · $185/mo
• Projected year-2 tax: $2,225 · $185/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 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: $33,712
• − Mortgage interest: −$16,799
• − Property taxes: −$2,225
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,697
• − Management: −$2,697
• − Depreciation: −$8,724
• Taxable loss: −$929
• Est. tax savings @ 24.0%: +$223
• After-tax cash flow: $4,259/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

Amenities F Commute F Cost of living C 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: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 26,338
• Household income: $95,682
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 320.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 16% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -113.97%
• Current HPI: 179.9084
• Rent YoY: ▲ 1.06%
• 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

+3.4% since first listed

9 events — show timeline

• 2026-01-14 Price Changed $299,900 AcadianaMLS
• 2026-01-14 Price Changed $299,900 GSREIN
• 2026-01-12 Relisted — GSREIN
• 2025-12-27 Listing Removed — GSREIN
• 2025-07-14 Relisted — GSREIN
• 2025-06-16 Contingent — GSREIN
• 2025-05-27 Listed $310,000 GSREIN
• 2025-05-27 Listed $310,000 AcadianaMLS
• 2024-12-30 Listed $290,000 AcadianaMLS

Property tax history

+1.4%/yr

Latest (2025): $2,225 · -3.6% YoY. Source: county tax records.