35510 Devon Dr · Slidell, LA 70460

$229,000

3 bd · 2.0 ba · 1,398 sqft · SingleFamily public records · 14 Days on market

Built 1998 Est $183k · 25% over

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Why this score? — see what drove the F 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 +13.8/30.0
• Schools +4.3/10.0
• DSCR +4.2/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this precious home in the desirable Brenwood neighborhood Freshly painted and move in ready , this home offers 3 bedrooms 2 bathrooms with plenty of space for comfortable living and lots of closet space. Awesome backyard with a patio area great for entertaining. Recent updates Fortified roof installed in 2025. Updated kitchen features Granite countertops , shaker style cabinets and abundance of pantry storage space making both stylish and functional. HVAC SYstem installed in 2019 All Electric home

Key facts

• Awesome backyard
• Patio area
• Fortified roof

Tags

• BRENWOOD SUBDIVISION
• AWESOME BACKYARD
• PATIO AREA
• FORTIFIED ROOF
• UPDATED KITCHEN
• GRANITE COUNTERTOPS

Property features AI

Exterior

• Parking: Driveway; Three or more parking spaces
• Utilities: Public water; Septic tank sewer; Water heater (energy-efficient)
• Home design: Single-story; Very good condition
• Construction: Brick construction; Shingle roof; Slab foundation
• Exterior features: Brick patio/porch; Shed(s); City lot; Irregularly shaped lot; Lot dimensions approximately 62 x 100

Interior

• Kitchen: Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Granite counters
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-46 ($-548/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (23.5% below list).
• Recommended offer: $175k (23.5% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Bayou Woods Elementary School (math 52% / reading 47%, grade D, #129 of 646 statewide, top 21%, 432 students, 72% FRL) — zoned schools average 72% FRL vs 40% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.9%/yr); 241 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 ($63k/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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $229k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,299 (23.5% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.77% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.39%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $183,138
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35521 Devon Dr	0.01mi	3/2.0	1,322 (-5%)	3mo	$205,000	$155	88
35378 Liberty Dr	0.31mi	3/2.0	1,411 (+1%)	3mo	$240,000	$170	82
209 Drury Ln	0.31mi	3/2.0	1,470 (+5%)	3mo	$171,000	$116	75
35593 Devon Dr	0.10mi	2/1.0 (-1)	1,262 (-10%)	2mo	$155,500	$123	68
205 Drury Ln	0.32mi	4/2.0 (+1)	1,485 (+6%)	2mo	$219,900	$148	68
213 Drury Ln	0.30mi	3/2.0	1,588 (+14%)	1mo	$191,000	$120	63
422 Portsmouth Dr	0.50mi	3/2.0	1,290 (-8%)	2mo	$105,320	$82	63
1715 W Hall Ave	0.44mi	3/2.0	1,550 (+11%)	1mo	$82,000	$53	61
35337 Bond Dr	0.48mi	3/2.0	1,250 (-11%)	1mo	$147,500	$118	59
211 Holmes Dr	0.45mi	3/2.0	1,560 (+12%)	3mo	$235,000	$151	57
217 Portsmouth Dr	0.34mi	4/2.0 (+1)	1,576 (+13%)	2mo	$220,000	$140	56
313 Westminster Dr	0.40mi	4/2.0 (+1)	1,600 (+14%)	2mo	$210,000	$131	51

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 · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.46×
• Total profit: $-34,803
• Equity at exit: $34,145

10-year hold

• IRR: -2.3%
• Equity multiple: 0.82×
• Total profit: $-11,316
• Equity at exit: $19,800

Cash invested: $64,120 (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 70460

• Rents YoY: 5.9%
• Active inventory: 241
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,753 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$68 /mo · $813/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-46

Break-even live

Break-even rent $1,811

Max offer price $220,928

Occupancy floor 98%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35567 Liberty Dr Slidell, LA	3.0	2.0	1232	$1,650	$1.34	44d	1	0.17mi
35621 Oak Ridge Ave Slidell, LA	3.0	2.0	1406	$1,800	$1.28	44d	1	0.44mi
35363 Melody Ln Slidell, LA	3.0	2.0	1510	$1,800	$1.19	44d	1	0.45mi
444 Holmes Dr Slidell, LA	4.0	2.0	1594	$1,800	$1.13	44d	1	0.55mi
58019 Carroll Rd Slidell, LA	4.0	2.0	1400	$1,695	$1.21	44d	1	0.56mi
134 Napoleon Ave Slidell, LA	2.0	2.0	1450	$1,400	$0.97	44d	1	0.89mi
36409 Jackson Rd Slidell, LA	4.0	2.0	1670	$2,100	$1.26	44d	1	1.24mi
96 Chamale Cv Slidell, LA	2.0	2.5	1432	$1,500	$1.05	23d	1	1.44mi
96 Chamale Cv Slidell, LA	3.0	2.5	1432	$1,500	$1.05	44d	1	1.44mi
736 N Walnut St Slidell, LA	3.0	1.5	983	$1,100	$1.12	23d	1	1.46mi

Listing history 10 events

1. 2026-06-18
   days on market $229,000 Active 14 DOM
2. 2026-06-17
   days on market $229,000 Active 13 DOM
3. 2026-06-16
   pricedays on market $229,000 Active 12 DOM
4. 2026-06-15
   days on market $249,000 Active 11 DOM
5. 2026-06-13
   days on market $249,000 Active 9 DOM
6. 2026-06-10
   days on market $249,000 Active 6 DOM
7. 2026-06-09
   days on market $249,000 Active 5 DOM
8. 2026-06-08
   days on market $249,000 Active 4 DOM
9. 2026-06-07
   remarks 511-char remark
10. 2026-06-07
    listed $249,000 Active 3 DOM

ⓘ 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: $813 · $68/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$446/yr (+$37/mo · 54.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $21,036
• − Mortgage interest: −$12,828
• − Property taxes: −$813
• − Insurance: −$1,942
• − Repairs & maintenance: −$1,683
• − Management: −$1,683
• − Depreciation: −$6,662
• Taxable loss: −$4,575
• Est. tax savings @ 24.0%: +$1,098
• After-tax cash flow: $550/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): 21,669
• Household income: $62,565
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 318.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 29% Two or more races 11% Hispanic / Latino 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 13% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -93.87%
• Current HPI: 130.56
• Rent YoY: ▲ 5.91%
• 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

+126.6% since first listed

13 events — show timeline

• 2026-06-04 Listed $249,000 GSREIN
• 2026-06-04 Listed $249,000 AcadianaMLS
• 2013-12-12 Sold (MLS) $82,750 GSREIN
• 2013-10-10 Listed $91,500 AcadianaMLS
• 2013-10-10 Listed $91,500 GSREIN
• 2009-06-02 Sold (Public Records) $133,000 Public Records
• 2009-05-29 Sold (MLS) $133,000 GSREIN
• 2008-11-15 Listed $135,500 AcadianaMLS
• 2008-11-15 Listed $135,500 GSREIN
• 2005-09-21 Sold (Public Records) $107,000 Public Records
• 2005-08-12 Sold (MLS) $107,000 GSREIN
• 2005-06-29 Listed $109,900 GSREIN
• 2005-06-29 Listed $109,900 AcadianaMLS

Property tax history

-5.9%/yr

Latest (2025): $813 · -3.8% YoY. Source: county tax records.