212 Northridge Dr · Covington, LA 70435

$240,000

3 bd · 2.0 ba · 1,501 sqft · SingleFamily public records · 7 Days on market

Built 2002 0.27 ac lot $160/sqft · 14% below area Est $281k · 14% under $13/mo HOA

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Why this score? — see what drove the B- 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 +26.0/30.0
• ARV discount +14.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.4/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cottage nestled under mature trees with a welcoming front porch and peaceful setting. Inside, you'll find a bright living area with NEW vinyl wood plank floors, a cozy fireplace, and built-in shelving, flowing into a functional kitchen with ample counter space and a breakfast bar. The split floor plan offers privacy, with spacious bedrooms and fresh carpet. Enjoy a large backyard with a patio, perfect for relaxing or entertaining. A great opportunity to move right in or make it your own. Large shed included. Roof is 3 years young!

Key facts

• Functional kitchen
• Ample counter space
• Front porch

Tags

• FRONT PORCH
• VINYL WOOD PLANK FLOORS
• COZY FIREPLACE
• BUILT-IN SHELVING
• FUNCTIONAL KITCHEN
• AMPLE COUNTER SPACE

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $160

Exterior

• Parking: Attached garage with one space
• Utilities: Public water; Public sewer
• Home design: Single-story; New roof; Faces unspecified
• Construction: Vinyl siding; Shingle roof; Slab foundation; Built/updated with a new roof
• Exterior features: Concrete patio/porch; Shed(s); Irregular lot; Outside city limits

Interior

• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Wood-burning fireplace; Very good condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 9.3% 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; 6 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 41% 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 $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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 27 sale attempts since 23y 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; major 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 $240,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 7.3

CMA / ARV

• ARV (median comp): $280,676
• List price: $240,000
• Delta: -14.49%
• 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
208 Treetop Ct	0.12mi	3/2.0	1,479 (-2%)	1mo	$260,000	$176	91
181 Northridge Dr	0.09mi	3/2.0	1,429 (-5%)	1mo	$280,000	$196	87
134 Northridge Dr	0.19mi	3/2.0	1,543 (+3%)	2mo	$250,000	$162	85
175 Northridge Dr	0.10mi	3/2.0	1,517 (+1%)	11mo	$240,000	$158	84
187 Northridge Dr	0.07mi	3/2.0	1,420 (-5%)	11mo	$250,000	$176	79
509 Bateleur Way	0.31mi	3/2.0	1,439 (-4%)	1mo	$265,000	$184	78
552 Bateleur Way	0.39mi	3/2.0	1,498 (-0%)	8mo	$277,000	$185	75
579 Bateleur Way	0.43mi	3/2.0	1,545 (+3%)	2mo	$298,000	$193	73
425 Bateleur Way	0.17mi	3/2.0	1,430 (-5%)	13mo	$277,500	$194	73
437 Bateleur Way	0.22mi	3/2.0	1,400 (-7%)	10mo	$280,000	$200	71
132 Eagle Landing Dr	0.18mi	3/2.0	1,352 (-10%)	9mo	$267,000	$197	68
113 Eagle Landing Dr	0.12mi	3/2.0	1,334 (-11%)	10mo	$273,000	$205	68

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-8,757
• Equity at exit: $35,785

10-year hold

• IRR: 6.2%
• Equity multiple: 1.47×
• Total profit: $31,351
• Equity at exit: $20,751

Cash invested: $67,200 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,741 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$196 /mo · $2,356/yr
• Insurance: −$100
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$13
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $472

Break-even live

Break-even rent $2,143

Max offer price $240,000

Occupancy floor 78%

Sensitivity live

Price	-10% $608	-5% $540	+0% $472	+5% $404	+10% $336
Rent	-10% $256	-5% $364	+0% $472	+5% $580	+10% $689
Rate	-1.0pp $593	-0.5pp $533	base $472	+0.5pp $410	+1.0pp $347

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,950	$2.32	4d	1	0.78mi
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,650	$2.15	12d	1	0.78mi
312 Beebalm Cir Covington, LA	3.0	2.0	2141	$2,600	$1.21	44d	1	1.44mi
312 Beebalm Cir Covington, LA	3.0	2.0	2141	$2,600	$1.21	24d	1	1.44mi
77074 Tantela Ranch Rd Unit 23 Covington, LA	3.0	2.0	1300	$1,200	$0.92	44d	1	1.49mi
77074 Tantela Ranch Rd Apt 23 Folsom, LA	3.0	2.0	1300	$1,200	$0.92	44d	1	1.49mi

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 50 events

1. 2026-06-18
   days on market $240,000 Active 7 DOM
2. 2026-06-17
   days on market $240,000 Active 6 DOM
3. 2026-06-16
   days on market $240,000 Active 5 DOM
4. 2026-06-15
   days on market $240,000 Active 4 DOM
5. 2026-06-13
   days on marketlisting id $240,000 Active 2 DOM
6. 2026-06-10
   days on market $240,000 Active 79 DOM
7. 2026-06-09
   days on market $240,000 Active 78 DOM
8. 2026-06-08
   days on market $240,000 Active 77 DOM
9. 2026-06-07
   days on market $240,000 Active 76 DOM
10. 2026-06-03
    days on market $240,000 Active 72 DOM
11. 2026-06-02
    days on market $240,000 Active 71 DOM
12. 2026-06-01
    days on market $240,000 Active 70 DOM
13. 2026-05-31
    days on market $240,000 Active 69 DOM
14. 2026-04-21
    price $240,000 545-char remark
15. 2026-04-21
    price $240,000 551-char remark
16. 2026-03-23
    listed $250,000 Active 545-char remark
17. 2026-03-23
    listed $250,000 Active 551-char remark
18. 2022-10-11
    soldstatus $215,000 Closed
19. 2022-10-03
    status Pending
20. 2022-09-26
    price $229,500
21. 2022-09-19
    price $235,000
22. 2022-09-10
    listed $239,000 Active
23. 2022-09-10
    listed $229,500
24. 2017-04-17
    soldstatus $172,500
25. 2017-04-13
    soldstatus $172,500 Sold
26. 2017-03-03
    historical Pending Continue to Show
27. 2017-02-16
    status Active
28. 2017-01-10
    historical Pending Continue to Show
29. 2017-01-09
    historical
30. 2017-01-09
    status Active
31. 2017-01-02
    listed $169,900
32. 2017-01-02
    listed $169,900
33. 2016-05-06
    historical Open Predication
34. 2016-04-29
    price $169,900
35. 2016-04-08
    listed $179,900 Active
36. 2016-04-08
    listed $169,900
37. 2015-09-16
    soldstatus $135,000 Sold
38. 2015-08-11
    status Under Contract
39. 2015-07-21
    listed $149,900 Active
40. 2015-07-21
    listed $149,900
41. 2015-06-24
    historical
42. 2015-06-23
    price $154,000
43. 2015-06-22
    listed $150,000 Active
44. 2015-06-22
    historical
45. 2015-06-19
    listed $155,000 Active
46. 2015-06-19
    historical
47. 2015-06-11
    price $159,000
48. 2015-05-13
    listed $165,000 Active
49. 2015-02-12
    listed $159,000
50. 2015-02-11
    listed $154,000

ⓘ 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: $2,356 · $196/mo
• Projected year-2 tax: $2,356 · $196/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 A · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,891
• − Mortgage interest: −$13,444
• − Property taxes: −$2,356
• − Insurance: −$2,702
• − Repairs & maintenance: −$2,631
• − Management: −$2,631
• − HOA: −$156
• − Depreciation: −$6,982
• Taxable income: $1,988
• Est. tax owed @ 24.0%: −$477
• After-tax cash flow: $5,189/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

+89.7% since first listed

52 events — show timeline

• 2026-06-11 Listed $240,000 AcadianaMLS
• 2026-06-11 Listed $240,000 GSREIN
• 2026-04-21 Price Changed $240,000 AcadianaMLS
• 2026-04-21 Price Changed $240,000 GSREIN
• 2026-03-23 Listed $250,000 AcadianaMLS
• 2022-10-11 Sold (MLS) $215,000 GSREIN
• 2022-10-03 Pending — GSREIN
• 2022-09-26 Price Changed $229,500 GSREIN
• 2022-09-19 Price Changed $235,000 GSREIN
• 2022-09-10 Listed $239,000 GSREIN
• 2022-09-10 Listed $229,500 AcadianaMLS
• 2017-04-17 Sold (Public Records) $172,500 Public Records
• 2017-04-13 Sold (MLS) $172,500 GSREIN
• 2017-03-03 Contingent — GSREIN
• 2017-02-16 Relisted — GSREIN
• 2017-01-10 Contingent — GSREIN
• 2017-01-09 Listing Removed — GSREIN
• 2017-01-09 Relisted — GSREIN
• 2017-01-02 Listed $169,900 AcadianaMLS
• 2017-01-02 Listed $169,900 GSREIN
• 2016-05-06 Contingent — GSREIN
• 2016-04-29 Price Changed $169,900 GSREIN
• 2016-04-08 Listed $179,900 GSREIN
• 2016-04-08 Listed $169,900 AcadianaMLS
• 2015-09-16 Sold (MLS) $135,000 GSREIN
• 2015-08-11 Pending — GSREIN
• 2015-07-21 Listed $149,900 GSREIN
• 2015-07-21 Listed $149,900 AcadianaMLS
• 2015-06-24 Listing Removed — GSREIN
• 2015-06-23 Price Changed $154,000 GSREIN
• 2015-06-22 Listed $150,000 GSREIN
• 2015-06-22 Listing Removed — GSREIN
• 2015-06-19 Listed $155,000 GSREIN
• 2015-06-19 Listing Removed — GSREIN
• 2015-06-11 Price Changed $159,000 GSREIN
• 2015-05-13 Listed $165,000 GSREIN
• 2015-02-12 Listed $159,000 AcadianaMLS
• 2015-02-11 Listed $154,000 AcadianaMLS
• 2015-02-11 Listed $155,000 AcadianaMLS
• 2010-04-30 Sold (MLS) $145,000 GSREIN
• 2010-02-19 Listed $145,000 GSREIN
• 2010-02-19 Listed $145,000 AcadianaMLS
• 2008-05-24 Listed $178,500 GSREIN
• 2008-05-24 Listed $178,500 AcadianaMLS
• 2005-10-17 Sold (Public Records) $170,000 Public Records
• 2005-10-14 Sold (MLS) $170,000 GSREIN
• 2005-09-16 Listed $175,000 AcadianaMLS
• 2005-09-16 Listed $175,000 GSREIN
• 2003-07-07 Sold (Public Records) $126,500 Public Records
• 2003-06-30 Listed $126,500 AcadianaMLS
• 2003-06-30 Listed $126,500 GSREIN
• 2003-06-30 Sold (MLS) $126,500 GSREIN

Property tax history

+0.7%/yr

Latest (2025): $2,356 · -3.4% YoY. Source: county tax records.