115 Spruce Cir · Slidell, LA 70458

$225,000

4 bd · 2.0 ba · 1,966 sqft · SingleFamily public records · 82 Days on market

Built 1981 0.25 ac lot $114/sqft · 14% below area Est $258k · 13% 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 +18.4/30.0
• ARV discount +13.2/15.0
• DSCR +5.8/10.0
• Schools +4.3/10.0
• 1% rule +4.1/10.0
• 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

Welcome to 115 Spruce Circle, a charming retreat nestled in a peaceful cul-de-sac in Slidell, LA. This beautifully maintained 4-bedroom, 2-bathroom home features an updated roof (2022) and a modern kitchen. The great room is filled with natural light, creating a warm and inviting space. As you enter, you're greeted by an oversized foyer that can easily be transformed into a formal dining room, additional living space, study, or game room, offering endless possibilities for customization. The spacious backyard is ideal for entertaining, with a large covered deck, rear yard access, and plenty of green space for outdoor activities. This home is a perfect blend of comfort and convenience, offering a serene lifestyle while being close to all amenities. Don't miss the opportunity to make this delightful home yours. Schedule your private showing today!

Key facts

• Spacious backyard
• Oversized foyer
• Rear yard access

Tags

• UPDATED ROOF
• MODERN KITCHEN
• OVERSIZED FOYER
• SPACIOUS BACKYARD
• LARGE COVERED DECK
• REAR YARD ACCESS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $204k (9.2% below list).
• Recommended offer: $204k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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; 22 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; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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 $7k 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 82 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 24y 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: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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.

Recommended offer $204,317 (9.2% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 0.91% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.02%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

• ARV (median comp): $257,634
• List price: $225,000
• Delta: -12.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
165 Whisperwood Blvd	0.09mi	4/2.0	2,100 (+7%)	4mo	$175,437	$84	81
250 Whisperwood Blvd	0.26mi	3/2.0 (-1)	1,835 (-7%)	2mo	$217,500	$119	70
155 Timbers Dr	0.15mi	4/2.0	2,225 (+13%)	2mo	$249,700	$112	69
609 Haaswood Ln	0.49mi	4/2.0	1,875 (-5%)	4mo	$313,000	$167	66
338 Country Club Blvd	0.40mi	3/2.0 (-1)	1,851 (-6%)	3mo	$244,000	$132	64
112 Driftwood Cir	0.63mi	4/2.0	1,898 (-4%)	6mo	$245,000	$129	60
612 High Ridge Loop	0.68mi	3/2.0 (-1)	1,887 (-4%)	3mo	$320,000	$170	54
435 Country Club Blvd	0.66mi	3/2.5 (-1)	2,038 (+4%)	5mo	$233,000	$114	52
107 W Queens Dr	0.66mi	4/2.0	1,735 (-12%)	2mo	$90,000	$52	48
110 W Queens Dr	0.63mi	4/2.0	1,704 (-13%)	2mo	$205,000	$120	46
209 Driftwood Cir	0.74mi	3/2.0 (-1)	1,822 (-7%)	3mo	$244,900	$134	45
302 Crescentwood Loop	0.75mi	3/2.0 (-1)	1,781 (-9%)	5mo	$208,000	$117	40

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: -15.4%
• Equity multiple: 0.46×
• Total profit: $-34,083
• Equity at exit: $33,548

10-year hold

• IRR: -9.7%
• Equity multiple: 0.45×
• Total profit: $-34,917
• Equity at exit: $19,454

Cash invested: $63,000 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$129 /mo · $1,554/yr
• Insurance: −$94
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $86

Break-even live

Break-even rent $1,935

Max offer price $225,000

Occupancy floor 91%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Firwood Dr Slidell, LA	4.0	2.0	1649	$1,900	$1.15	43d	1	0.15mi
102 N Dabney Dr Slidell, LA	3.0	2.0	2432	$2,800	$1.15	15d	1	0.35mi
101 Dante Cir Slidell, LA	4.0	2.0	1941	$1,950	$1.00	11d	1	0.41mi
557 Claiborne Trails Dr Slidell, LA	3.0	2.0	1690	$2,300	$1.36	43d	1	0.42mi
117 S Queens Dr Slidell, LA	4.0	2.0	1476	$1,800	$1.22	3d	1	0.46mi
641 Haaswood Ln Slidell, LA	3.0	2.0	1721	$2,400	$1.39	43d	1	0.48mi
111 Heather Dr Slidell, LA	3.0	2.0	2112	$1,750	$0.83	43d	1	0.48mi
407 E Redbud Dr Slidell, LA	4.0	2.5	2400	$2,500	$1.04	43d	1	0.49mi
107 Dixie Cir Slidell, LA	3.0	2.0	1609	$1,900	$1.18	43d	1	0.56mi
108 Ellwood Cir Slidell, LA	4.0	2.0	1517	$1,800	$1.19	3d	1	0.59mi
542 Driftwood Cir Slidell, LA	4.0	2.0	1960	$2,100	$1.07	3d	1	0.63mi
120 Christian Ln Slidell, LA	3.0	2.0	1375	$1,875	$1.36	2d	1	0.71mi
120 Christian Ln Slidell, LA	3.0	2.0	1375	$1,875	$1.36	3d	1	0.71mi
114 Meredith Dr Slidell, LA	3.0	2.0	1531	$1,650	$1.08	43d	1	0.75mi
347 Oriole Dr Slidell, LA	4.0	1.5	1560	$1,500	$0.96	23d	1	0.92mi
347 Oriole Dr Slidell, LA	4.0	1.5	1560	$1,500	$0.96	43d	1	0.92mi
357 Mansfield Dr Slidell, LA	3.0	2.0	1400	$2,200	$1.57	43d	1	1.07mi
4145 Saint Peter St Slidell, LA	3.0	2.0	1422	$2,000	$1.41	43d	1	1.10mi
129 Fountain Dr Slidell, LA	4.0	2.0	1879	$1,850	$0.98	14d	1	1.31mi
433 Grafton Dr Slidell, LA	3.0	2.0	1625	$1,900	$1.17	43d	1	1.33mi
221 Martin Ln Slidell, LA	3.0	1.5	1353	$1,800	$1.33	23d	1	1.39mi
106 Kempsey Ct Slidell, LA	3.0	2.0	1650	$1,600	$0.97	21d	1	1.41mi

Listing history 39 events

1. 2026-06-18
   days on market $225,000 Active 82 DOM
2. 2026-06-17
   days on market $225,000 Active 81 DOM
3. 2026-06-16
   days on market $225,000 Active 80 DOM
4. 2026-06-15
   days on market $225,000 Active 79 DOM
5. 2026-06-13
   days on market $225,000 Active 77 DOM
6. 2026-06-10
   days on market $225,000 Active 74 DOM
7. 2026-06-09
   days on market $225,000 Active 73 DOM
8. 2026-06-08
   days on market $225,000 Active 72 DOM
9. 2026-06-07
   days on market $225,000 Active 71 DOM
10. 2026-06-03
    days on market $225,000 Active 67 DOM
11. 2026-06-02
    days on market $225,000 Active 66 DOM
12. 2026-06-01
    days on market $225,000 Active 65 DOM
13. 2026-05-31
    days on market $225,000 Active 64 DOM
14. 2026-03-28
    listed $225,000 Active 857-char remark

    Show marketing remark (857 chars)

    Welcome to 115 Spruce Circle, a charming retreat nestled in a peaceful cul-de-sac in Slidell, LA. This beautifully maintained 4-bedroom, 2-bathroom home features an updated roof (2022) and a modern kitchen. The great room is filled with natural light, creating a warm and inviting space. As you enter, you're greeted by an oversized foyer that can easily be transformed into a formal dining room, additional living space, study, or game room, offering endless possibilities for customization. The spacious backyard is ideal for entertaining, with a large covered deck, rear yard access, and plenty of green space for outdoor activities. This home is a perfect blend of comfort and convenience, offering a serene lifestyle while being close to all amenities. Don't miss the opportunity to make this delightful home yours. Schedule your private showing today!

15. 2026-03-28
    listed $225,000 Active 857-char remark

    Show marketing remark (857 chars)

    Welcome to 115 Spruce Circle, a charming retreat nestled in a peaceful cul-de-sac in Slidell, LA. This beautifully maintained 4-bedroom, 2-bathroom home features an updated roof (2022) and a modern kitchen. The great room is filled with natural light, creating a warm and inviting space. As you enter, you're greeted by an oversized foyer that can easily be transformed into a formal dining room, additional living space, study, or game room, offering endless possibilities for customization. The spacious backyard is ideal for entertaining, with a large covered deck, rear yard access, and plenty of green space for outdoor activities. This home is a perfect blend of comfort and convenience, offering a serene lifestyle while being close to all amenities. Don't miss the opportunity to make this delightful home yours. Schedule your private showing today!

16. 2025-11-24
    price $225,000
17. 2025-11-24
    price $225,000
18. 2025-11-24
    historical $2,000
19. 2025-09-05
    price $236,000
20. 2025-09-05
    price $236,000
21. 2025-08-02
    price $245,000
22. 2025-08-02
    price $245,000
23. 2025-07-26
    listed $2,000
24. 2025-04-29
    listed $249,900 Active
25. 2024-07-27
    listed $249,900
26. 2024-01-19
    listed $255,000
27. 2023-03-06
    soldstatus $245,000 Closed
28. 2023-02-20
    status Pending
29. 2023-02-09
    historical Active Under Contract
30. 2023-01-28
    listed $240,000
31. 2023-01-28
    listed $240,000 Active
32. 2021-10-06
    soldstatus $223,000 Closed
33. 2021-09-27
    status Pending
34. 2021-08-10
    listed $223,000 Active
35. 2021-08-10
    listed $223,000
36. 2002-03-04
    soldstatus $99,900
37. 2002-02-28
    soldstatus $99,900
38. 2002-01-02
    listed $99,900
39. 2002-01-02
    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: $1,554 · $129/mo
• Projected year-2 tax: $1,554 · $129/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 4/10 Moderate FEMA zone A · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $24,518
• − Mortgage interest: −$12,603
• − Property taxes: −$1,554
• − Insurance: −$2,628
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$6,545
• Taxable loss: −$2,735
• Est. tax savings @ 24.0%: +$656
• After-tax cash flow: $1,685/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): 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

+125.2% since first listed

26 events — show timeline

• 2026-03-28 Listed $225,000 GSREIN
• 2026-03-28 Listed $225,000 AcadianaMLS
• 2025-11-24 Price Changed $225,000 AcadianaMLS
• 2025-11-24 Price Changed $225,000 GSREIN
• 2025-11-24 Rental Removed $2,000 GSREIN
• 2025-09-05 Price Changed $236,000 AcadianaMLS
• 2025-09-05 Price Changed $236,000 GSREIN
• 2025-08-02 Price Changed $245,000 AcadianaMLS
• 2025-08-02 Price Changed $245,000 GSREIN
• 2025-07-26 Listed for Rent $2,000 GSREIN
• 2025-04-29 Listed $249,900 AcadianaMLS
• 2024-07-27 Listed $249,900 AcadianaMLS
• 2024-01-19 Listed $255,000 AcadianaMLS
• 2023-03-06 Sold (MLS) $245,000 GSREIN
• 2023-02-20 Pending — GSREIN
• 2023-02-09 Contingent — GSREIN
• 2023-01-28 Listed $240,000 GSREIN
• 2023-01-28 Listed $240,000 AcadianaMLS
• 2021-10-06 Sold (MLS) $223,000 GSREIN
• 2021-09-27 Pending — GSREIN
• 2021-08-10 Listed $223,000 AcadianaMLS
• 2021-08-10 Listed $223,000 GSREIN
• 2002-03-04 Sold (Public Records) $99,900 Public Records
• 2002-02-28 Sold (MLS) $99,900 GSREIN
• 2002-01-02 Listed $99,900 GSREIN
• 2002-01-02 Listed $99,900 AcadianaMLS

Property tax history

-2.5%/yr

Latest (2025): $1,554 · -3.9% YoY. Source: county tax records.