35326 Windsor Dr

Slidell, LA 70460

$103,000B+

3 bd · 2.0 ba · 1,301 sqft · Built 1991 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,681/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $705/mo
• Annual: $8,459/yr
• Cap rate: 14.51%
• Cash-on-cash: 29.33%
• DSCR: 2.30
• 1% rule: 1.63%
• Cash to close: $28,840

Investor read

• This is a 3-bed/2.0-bath single-family listed at $103k. Condition is rated fair.
• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $103k).
• It's been on market 35 days — a 3% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $100k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $712 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Bayou Woods Elementary School (math 52% / reading 47%, grade D, #129 of 646 statewide, top 21%, 432 students, 72% FRL); Slidell Junior High School (math 25% / reading 47%, grade F, #84 of 218 statewide, top 41%, 823 students, 60% FRL); Slidell High School (math 34% / reading 41%, grade F, #93 of 265 statewide, top 36%, 1,883 students, 52% FRL) — zoned schools average 61% FRL vs 40% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 323 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 81d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% 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).
• St. Tammany County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 14y 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 $85k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.5% vs local median 6.0% in Slidell — 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.
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible wear and tear.
• Major: exterior siding — The exterior siding shows signs of wear and discoloration, and the paint appears faded.
• Major: flooring — The flooring in the interior appears to be in poor condition, with visible wear and tear.
• Major: interior walls — The interior walls show signs of wear and discoloration.
• Major: landscaping — The landscaping appears to be overgrown and in need of maintenance.
• Major: fencing — The fencing is in poor condition and appears to be in need of repair or replacement.