12581 Parma Cir · Covington, LA 70435

$298,000

3 bd · 2.0 ba · 1,825 sqft · SingleFamily public records · 47 Days on market

Built 2018 $163/sqft · at area comps Est $287k · at est. $55/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 +13.0/30.0
• ARV discount +5.7/15.0
• Schools +4.3/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully kept home features an amazing back porch, with an extended patio & patio cover, a 10x16 insulated storage shed with AC & electricity, a two-car garage, reflective privacy tinted windows with blinds throughout, all stainless steel appliances, no carpet, tile & vinyl wood flooring throughout, a large master bath with large walk-in closet, an extended driveway, and a fenced back yard. This 3 bed, 2 bath home is located in a small, quiet neighborhood, with a community playground, in the desirable Madisonville School District. The location is wonderful, just minutes off the Goodbee/Madisonville Exit, with convenient access to I-12 and Highway 190.

Key facts

• Garage
• Built 2018
• Listed 46 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $-18 ($-213/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (18.9% below list).
• Recommended offer: $242k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Market conditions: 365 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 36% 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 $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 47 days — a 3% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $220k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $241,758 (18.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

• ARV (median comp): $286,703
• List price: $298,000
• Delta: 3.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12581 Parma Cir	0.00mi	3/2.0	1,825 (0%)	1mo	$280,500	$154	99
12545 Parma Cir	0.05mi	3/2.0	1,825 (0%)	5mo	$271,500	$149	94
73241 Forest Creek Dr	0.31mi	3/2.0	1,782 (-2%)	2mo	$289,900	$163	80
11332 Clover Knoll Dr	0.36mi	3/2.0	1,782 (-2%)	1mo	$295,000	$166	78
73292 Forest Creek Dr	0.40mi	3/2.0	1,807 (-1%)	6mo	$275,300	$152	75
12529 Parma Cir	0.09mi	3/2.0	1,616 (-12%)	3mo	$266,000	$165	74
12421 Parma Cir	0.12mi	3/2.0	1,657 (-9%)	6mo	$265,000	$160	74
11321 Clover Knoll Dr	0.37mi	4/2.5 (+1)	1,788 (-2%)	0mo	$294,000	$164	72
12521 Parma Cir	0.10mi	4/2.5 (+1)	1,953 (+7%)	7mo	$283,500	$145	70
11340 Clover Knoll Dr	0.34mi	4/2.5 (+1)	1,782 (-2%)	7mo	$287,000	$161	68
11305 Clover Knoll Dr	0.41mi	3/2.0	1,593 (-13%)	4mo	$276,000	$173	57
11552 Woodbluff Dr	0.60mi	3/2.0	1,613 (-12%)	4mo	$257,000	$159	50

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-49,464
• Equity at exit: $44,433

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-44,710
• Equity at exit: $25,766

Cash invested: $83,440 (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: 365
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,418 medium
• Mortgage (P&I): −$1,563
• Tax from tax record: −$186 /mo · $2,229/yr
• Insurance: −$124
• HOA: −$55
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-18

Break-even live

Break-even rent $2,440

Max offer price $294,863

Occupancy floor 96%

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Beebalm Cir Covington, LA	3.0	2.0	2141	$2,600	$1.21	43d	1	0.42mi
312 Beebalm Cir Covington, LA	3.0	2.0	2141	$2,600	$1.21	23d	1	0.42mi
73327 Forest Creek Dr Covington, LA	4.0	3.0	2021	$2,200	$1.09	43d	1	0.49mi
12346 Baham Rd Covington, LA	3.0	2.0	1424	$1,550	$1.09	23d	1	1.22mi

HOA detail

• Monthly dues: $55 · $660/yr
• Likely covers: electric

Listing history 11 events

1. 2026-04-20
   price $298,000 679-char remark

   Show marketing remark (679 chars)

   This beautifully kept home features an amazing back porch, with an extended patio & patio cover, a 10x16 insulated storage shed with AC & electricity, a two-car garage, reflective privacy tinted windows with blinds throughout, all stainless steel appliances, no carpet, tile & vinyl wood flooring throughout, a large master bath with large walk-in closet, an extended driveway, and a fenced back yard. This 3 bed, 2 bath home is located in a small, quiet neighborhood, with a community playground, in the desirable Madisonville School District. The location is wonderful, just minutes off the Goodbee/Madisonville Exit, with convenient access to I-12 and Highway 190.

2. 2026-04-19
   price $298,000 685-char remark

   Show marketing remark (685 chars)

   This beautifully kept home features an amazing back porch, with an extended patio & patio cover, a 10x16 insulated storage shed with AC & electricity, a two-car garage, reflective privacy tinted windows with blinds throughout, all stainless steel appliances, no carpet, tile & vinyl wood flooring throughout, a large master bath with large walk-in closet, an extended driveway, and a fenced back yard. This 3 bed, 2 bath home is located in a small, quiet neighborhood, with a community playground, in the desirable Madisonville School District. The location is wonderful, just minutes off the Goodbee/Madisonville Exit, with convenient access to I-12 and Highway 190.

3. 2026-04-10
   listed $305,000 Active 679-char remark

   Show marketing remark (685 chars)

   This beautifully kept home features an amazing back porch, with an extended patio & patio cover, a 10x16 insulated storage shed with AC & electricity, a two-car garage, reflective privacy tinted windows with blinds throughout, all stainless steel appliances, no carpet, tile & vinyl wood flooring throughout, a large master bath with large walk-in closet, an extended driveway, and a fenced back yard. This 3 bed, 2 bath home is located in a small, quiet neighborhood, with a community playground, in the desirable Madisonville School District. The location is wonderful, just minutes off the Goodbee/Madisonville Exit, with convenient access to I-12 and Highway 190.

4. 2026-04-10
   listed $305,000 Active 685-char remark

   Show marketing remark (685 chars)

   This beautifully kept home features an amazing back porch, with an extended patio & patio cover, a 10x16 insulated storage shed with AC & electricity, a two-car garage, reflective privacy tinted windows with blinds throughout, all stainless steel appliances, no carpet, tile & vinyl wood flooring throughout, a large master bath with large walk-in closet, an extended driveway, and a fenced back yard. This 3 bed, 2 bath home is located in a small, quiet neighborhood, with a community playground, in the desirable Madisonville School District. The location is wonderful, just minutes off the Goodbee/Madisonville Exit, with convenient access to I-12 and Highway 190.

5. 2019-02-19
   soldstatus $220,422 Closed
6. 2019-01-21
   status Pending
7. 2019-01-03
   price $220,015
8. 2019-01-03
   status Active
9. 2018-07-30
   historical
10. 2018-07-27
    listed $220,015
11. 2018-07-27
    listed $222,160 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: $2,229 · $186/mo
• Projected year-2 tax: $2,229 · $186/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: $29,011
• − Mortgage interest: −$16,693
• − Property taxes: −$2,229
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − HOA: −$660
• − Depreciation: −$8,669
• Taxable loss: −$5,371
• Est. tax savings @ 24.0%: +$1,289
• After-tax cash flow: $1,076/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

+35.4% since first listed

11 events — show timeline

• 2026-04-20 Price Changed $298,000 AcadianaMLS
• 2026-04-19 Price Changed $298,000 GSREIN
• 2026-04-10 Listed $305,000 GSREIN
• 2026-04-10 Listed $305,000 AcadianaMLS
• 2019-02-19 Sold (MLS) $220,422 GSREIN
• 2019-01-21 Pending — GSREIN
• 2019-01-03 Price Changed $220,015 GSREIN
• 2019-01-03 Relisted — GSREIN
• 2018-07-30 Listing Removed — GSREIN
• 2018-07-27 Listed $222,160 GSREIN
• 2018-07-27 Listed $220,015 AcadianaMLS

Property tax history

+1.9%/yr

Latest (2025): $2,229 · -3.4% YoY. Source: county tax records.