70296 F St · Covington, LA 70433

$209,000

3 bd · 2.0 ba · 1,369 sqft · SingleFamily public records · 117 Days on market

Built 2003 6,534 sqft lot $153/sqft · 7% below area Est $224k · 7% under

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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 +15.9/30.0
• ARV discount +10.5/15.0
• DSCR +4.9/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HERE IS YOUR CHANCE TO GRAB AFFORDABLE LIVING IN HIGH-DEMAND ST. TAMMANY PARISH, WITHOUT HAVING TO UPDATE THE INTERIOR * THIS 3BD/2BA HOME OFFERS NEW FLOORING & FRESH PAINT THROUGHOUT * NO CARPET * MUST SEE TO FULLY APPRECIATE * EASY ACCESS TO I-12 & SUPER CLOSE TO SHOPPING, RESTAURANTS, ETC. * KITCHEN OFFERS GRANITE COUNTERTOPS & STAINLESS APPLIANCES * PRIMARY SUITE OFFERS LARGE CLOSET, HIGH CEILINGS, & SOAKING TUB * NICE OPEN FLOOR-PLAN, NEUTRAL COLORS, AND WOOD-BURNING FIREPLACE * THE EXTERIOR FEATURES ABUNDANT OFF-STREET PARKING, FENCED YARD, COZY FRONT PORCH AND A SHED FOR ADDED STORAGE * EASY TO VIEW * CAN CLOSE FAST!!

Key facts

• Fresh paint
• Large closet
• Soaking tub

Tags

• NEW FLOORING
• FRESH PAINT
• GRANITE COUNTERTOPS
• STAINLESS APPLIANCES
• LARGE CLOSET
• SOAKING TUB

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $98 ($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 $180k (13.7% below list).
• Recommended offer: $180k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Rents rising fast (+4.3%/yr); 524 active listings in the ZIP; 28 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 117 days — a 9% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y 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 $140k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $180,266 (13.7% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.86% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 9.7

CMA / ARV

• ARV (median comp): $223,812
• List price: $209,000
• Delta: -6.62%
• 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
70281 C St	0.08mi	3/2.0	1,463 (+7%)	2mo	$215,000	$147	84
70333 H St	0.14mi	4/2.0 (+1)	1,404 (+3%)	1mo	$239,900	$171	83
70432 2nd St	0.39mi	3/2.0	1,347 (-2%)	2mo	$227,500	$169	78
70381 L St	0.38mi	3/2.0	1,322 (-3%)	1mo	$218,000	$165	76
70519 K St	0.49mi	3/2.0	1,374 (+0%)	1mo	$257,000	$187	76
70405 F St	0.21mi	3/2.0	1,200 (-12%)	1mo	$182,000	$152	68
70312 7th St	0.56mi	3/2.0	1,410 (+3%)	2mo	$224,000	$159	68
70261 K St	0.30mi	3/2.0	1,230 (-10%)	2mo	$245,000	$199	67
70325 L St	0.35mi	3/2.0	1,564 (+14%)	0mo	$190,000	$121	60
70408 3rd St	0.41mi	3/2.0	1,163 (-15%)	1mo	$205,000	$176	55
70085 4th St	0.55mi	3/2.0	1,554 (+14%)	1mo	$252,500	$162	51
70371 10th St	0.71mi	3/2.0	1,212 (-12%)	2mo	$192,500	$159	46

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-25,270
• Equity at exit: $31,163

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-4,016
• Equity at exit: $18,071

Cash invested: $58,520 (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 70433

• Rents YoY: 4.3%
• Active inventory: 524
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,803 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$143 /mo · $1,717/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $98

Break-even live

Break-even rent $1,679

Max offer price $209,000

Occupancy floor 90%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70361 D St Covington, LA	3.0	2.0	1409	$1,750	$1.24	23d	1	0.10mi
70330 A St Covington, LA	3.0	2.0	1163	$1,600	$1.38	19d	1	0.18mi
70412 1st St Covington, LA	3.0	2.0	1182	$1,700	$1.44	17d	1	0.30mi
70466 1st St Covington, LA	3.0	2.0	1443	$2,100	$1.46	17d	1	0.38mi
70403 L St Covington, LA	3.0	2.0	1250	$1,695	$1.36	43d	1	0.41mi
70293 7th St Covington, LA	3.0	2.0	1450	$1,695	$1.17	43d	1	0.51mi
4025 Monarch Ln Covington, LA	3.0	2.0	1853	$2,800	$1.51	43d	1	0.51mi
70300 7th St Covington, LA	3.0	2.0	1448	$1,750	$1.21	23d	1	0.54mi
70266 7th St Covington, LA	3.0	2.0	1736	$1,575	$0.91	43d	1	0.54mi
70040 2nd St Covington, LA	3.0	2.0	1416	$2,000	$1.41	3d	1	0.60mi
70252 8th St Covington, LA	3.0	2.0	1230	$1,650	$1.34	23d	1	0.60mi
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	3d	1	0.60mi
70439 8th St Covington, LA	3.0	2.0	1267	$1,500	$1.18	23d	1	0.61mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	23d	1	0.66mi
70371 10th St Covington, LA	3.0	2.0	1212	$1,695	$1.40	43d	1	0.68mi
711 Lionel Ct Abita Springs, LA	3.0	2.0	1497	$2,000	$1.34	23d	1	0.78mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	17d	1	0.84mi
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,600	$1.89	11d	2	0.84mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	43d	1	0.93mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,407	$1.46	1d	9	0.96mi
212 Covington Cottage Ln Covington, LA	3.0	2.0	1690	$2,275	$1.35	43d	1	1.04mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,856	$2.16	2d	18	1.21mi
445 Tiger Ave Covington, LA	3.0	2.0	1538	$2,300	$1.50	23d	1	1.28mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	2d	1	1.28mi
308 Robinhood Dr Covington, LA	3.0	2.0	1650	$1,800	$1.09	3d	1	1.39mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,525	$2.34	1d	12	1.41mi
110 Robinhood Dr Covington, LA	3.0	2.0	1600	$1,500	$0.94	43d	1	1.46mi
19425 Slemmer Rd Unit 2 Covington, LA	3.0	2.0	1100	$1,100	$1.00	21d	1	1.50mi

Listing history 25 events

1. 2026-06-18
   days on market $209,000 Active 117 DOM
2. 2026-06-17
   days on market $209,000 Active 116 DOM
3. 2026-06-16
   days on market $209,000 Active 115 DOM
4. 2026-06-15
   days on market $209,000 Active 114 DOM
5. 2026-06-13
   pricedays on market $209,000 Active 112 DOM
6. 2026-06-10
   days on market $219,000 Active 109 DOM
7. 2026-06-09
   days on market $219,000 Active 108 DOM
8. 2026-06-08
   days on market $219,000 Active 107 DOM
9. 2026-06-07
   days on market $219,000 Active 106 DOM
10. 2026-06-03
    days on market $219,000 Active 102 DOM
11. 2026-06-02
    days on market $219,000 Active 101 DOM
12. 2026-06-01
    days on market $219,000 Active 100 DOM
13. 2026-05-31
    days on market $219,000 Active 99 DOM
14. 2026-02-21
    listed $219,000 Active 648-char remark

    Show marketing remark (675 chars)

    HERE IS YOUR CHANCE TO GRAB AFFORDABLE LIVING IN HIGH-DEMAND ST. TAMMANY PARISH, WITHOUT HAVING TO UPDATE THE INTERIOR * THIS 3BD/2BA HOME OFFERS NEW FLOORING & FRESH PAINT THROUGHOUT * NO CARPET * MUST SEE TO FULLY APPRECIATE * EASY ACCESS TO I-12 & SUPER CLOSE TO SHOPPING, RESTAURANTS, ETC. * KITCHEN OFFERS GRANITE COUNTERTOPS & STAINLESS APPLIANCES * PRIMARY SUITE OFFERS LARGE CLOSET, HIGH CEILINGS, & SOAKING TUB * NICE OPEN FLOOR-PLAN, NEUTRAL COLORS, AND WOOD-BURNING FIREPLACE * THE EXTERIOR FEATURES ABUNDANT OFF-STREET PARKING, FENCED YARD, COZY FRONT PORCH AND A SHED FOR ADDED STORAGE * EASY TO VIEW * CAN CLOSE FAST!!

15. 2026-02-21
    listed $219,000 Active 675-char remark

    Show marketing remark (675 chars)

    HERE IS YOUR CHANCE TO GRAB AFFORDABLE LIVING IN HIGH-DEMAND ST. TAMMANY PARISH, WITHOUT HAVING TO UPDATE THE INTERIOR * THIS 3BD/2BA HOME OFFERS NEW FLOORING & FRESH PAINT THROUGHOUT * NO CARPET * MUST SEE TO FULLY APPRECIATE * EASY ACCESS TO I-12 & SUPER CLOSE TO SHOPPING, RESTAURANTS, ETC. * KITCHEN OFFERS GRANITE COUNTERTOPS & STAINLESS APPLIANCES * PRIMARY SUITE OFFERS LARGE CLOSET, HIGH CEILINGS, & SOAKING TUB * NICE OPEN FLOOR-PLAN, NEUTRAL COLORS, AND WOOD-BURNING FIREPLACE * THE EXTERIOR FEATURES ABUNDANT OFF-STREET PARKING, FENCED YARD, COZY FRONT PORCH AND A SHED FOR ADDED STORAGE * EASY TO VIEW * CAN CLOSE FAST!!

16. 2025-03-25
    listed $235,000 Active
17. 2022-03-11
    soldstatus $140,000
18. 2010-08-06
    soldstatus $110,000
19. 2010-05-05
    listed $114,900
20. 2010-05-05
    listed $114,900
21. 2005-10-25
    soldstatus $140,000
22. 2005-10-20
    soldstatus $140,000
23. 2005-09-20
    listed $140,000
24. 2005-09-20
    listed $140,000
25. 2004-10-18
    soldstatus $113,300

ⓘ 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: $1,717 · $143/mo
• Projected year-2 tax: $1,717 · $143/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,632
• − Mortgage interest: −$11,707
• − Property taxes: −$1,717
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − Depreciation: −$6,080
• Taxable loss: −$2,379
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $1,746/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): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1287.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

+93.3% since first listed

12 events — show timeline

• 2026-02-21 Listed $219,000 GSREIN
• 2026-02-21 Listed $219,000 AcadianaMLS
• 2025-03-25 Listed $235,000 AcadianaMLS
• 2022-03-11 Sold (Public Records) $140,000 Public Records
• 2010-08-06 Sold (MLS) $110,000 GSREIN
• 2010-05-05 Listed $114,900 GSREIN
• 2010-05-05 Listed $114,900 AcadianaMLS
• 2005-10-25 Sold (Public Records) $140,000 Public Records
• 2005-10-20 Sold (MLS) $140,000 GSREIN
• 2005-09-20 Listed $140,000 GSREIN
• 2005-09-20 Listed $140,000 AcadianaMLS
• 2004-10-18 Sold (Public Records) $113,300 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,717 · -3.6% YoY. Source: county tax records.