523 Drury Ln · Slidell, LA 70460

$215,000

4 bd · 2.0 ba · 1,534 sqft · SingleFamily public records · 135 Days on market

Built 1989 $140/sqft · at area comps Est $228k · 6% under $8/mo HOA

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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 +20.8/30.0
• ARV discount +10.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious partially renovated home on a large Cul de Sac lot in Huntwyck . All on one level. 2 car attached garage. All tile flooring. Primary Bedroom is set off the foyer by itself. The other 3 bedrooms are down the hallway . Nice open den area to the Kitchen . Separate formal dining space or could be a home office. Some renovations done in kitchen and baths. Granite counters in Kitchen with tiled backsplash. Covered rear porch leads to a huge fenced yard with a shed.

Key facts

• Formal dining space
• Open den area
• Tile flooring

Tags

• CUL DE SAC LOT
• TILE FLOORING
• OPEN DEN AREA
• FORMAL DINING SPACE
• RENOVATIONS DONE
• GRANITE COUNTERS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/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 $200k (6.9% below list).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 5.9% 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.

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 fast (+5.9%/yr); 241 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 38% 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 $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 135 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 30y 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 $80k; list at $215k implies a 169% 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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (median comp): $227,687
• List price: $215,000
• Delta: -5.57%
• 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
313 Westminster Dr	0.45mi	4/2.0	1,600 (+4%)	2mo	$210,000	$131	70
217 Portsmouth Dr	0.56mi	4/2.0	1,576 (+3%)	2mo	$220,000	$140	67
320 Holmes Dr	0.44mi	3/2.0 (-1)	1,486 (-3%)	4mo	$185,000	$124	66
35378 Liberty Dr	0.29mi	3/2.0 (-1)	1,411 (-8%)	3mo	$240,000	$170	65
211 Holmes Dr	0.56mi	3/2.0 (-1)	1,560 (+2%)	3mo	$235,000	$151	63
205 Drury Ln	0.65mi	4/2.0	1,485 (-3%)	2mo	$219,900	$148	62
319 Westminster Dr	0.42mi	3/2.0 (-1)	1,648 (+7%)	2mo	$228,500	$139	61
213 Drury Ln	0.61mi	3/2.0 (-1)	1,588 (+4%)	1mo	$191,000	$120	60
222 Queen Anne Dr	0.62mi	3/2.0 (-1)	1,479 (-4%)	4mo	$176,500	$119	57
209 Drury Ln	0.63mi	3/2.0 (-1)	1,470 (-4%)	3mo	$171,000	$116	56
201 Drury Ln	0.67mi	3/2.0 (-1)	1,648 (+7%)	2mo	$170,000	$103	50
35521 Devon Dr	0.60mi	3/2.0 (-1)	1,322 (-14%)	3mo	$205,000	$155	42

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: -6.3%
• Equity multiple: 0.76×
• Total profit: $-14,402
• Equity at exit: $32,057

10-year hold

• IRR: 6.4%
• Equity multiple: 1.53×
• Total profit: $32,140
• Equity at exit: $18,589

Cash invested: $60,200 (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 70460

• Rents YoY: 5.9%
• Active inventory: 241
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $227

Break-even live

Break-even rent $1,714

Max offer price $215,000

Occupancy floor 84%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35363 Melody Ln Slidell, LA	3.0	2.0	1510	$1,800	$1.19	43d	1	0.11mi
444 Holmes Dr Slidell, LA	4.0	2.0	1594	$1,800	$1.13	44d	1	0.16mi
110 Charles Dr Slidell, LA	4.0	2.0	2210	$2,175	$0.98	11d	1	0.38mi
35567 Liberty Dr Slidell, LA	3.0	2.0	1232	$1,650	$1.34	44d	1	0.58mi
35621 Oak Ridge Ave Slidell, LA	3.0	2.0	1406	$1,800	$1.28	43d	1	0.91mi
58019 Carroll Rd Slidell, LA	4.0	2.0	1400	$1,695	$1.21	43d	1	1.00mi
1111 Saint Scholastica St Slidell, LA	3.0	2.0	2037	$2,000	$0.98	23d	1	1.38mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 41 events

1. 2026-06-18
   days on market $215,000 Active 135 DOM
2. 2026-06-17
   days on market $215,000 Active 134 DOM
3. 2026-06-16
   days on market $215,000 Active 133 DOM
4. 2026-06-15
   days on market $215,000 Active 132 DOM
5. 2026-06-13
   days on market $215,000 Active 130 DOM
6. 2026-06-10
   days on market $215,000 Active 127 DOM
7. 2026-06-09
   days on market $215,000 Active 126 DOM
8. 2026-06-08
   days on market $215,000 Active 125 DOM
9. 2026-06-07
   days on market $215,000 Active 124 DOM
10. 2026-06-03
    days on market $215,000 Active 120 DOM
11. 2026-06-02
    days on market $215,000 Active 119 DOM
12. 2026-06-01
    days on market $215,000 Active 118 DOM
13. 2026-05-31
    days on market $215,000 Active 117 DOM
14. 2026-01-02
    listed $215,000 Active 472-char remark

    Show marketing remark (472 chars)

    Spacious partially renovated home on a large Cul de Sac lot in Huntwyck . All on one level. 2 car attached garage. All tile flooring. Primary Bedroom is set off the foyer by itself. The other 3 bedrooms are down the hallway . Nice open den area to the Kitchen . Separate formal dining space or could be a home office. Some renovations done in kitchen and baths. Granite counters in Kitchen with tiled backsplash. Covered rear porch leads to a huge fenced yard with a shed.

15. 2026-01-02
    listed $215,000 Active 472-char remark

    Show marketing remark (472 chars)

    Spacious partially renovated home on a large Cul de Sac lot in Huntwyck . All on one level. 2 car attached garage. All tile flooring. Primary Bedroom is set off the foyer by itself. The other 3 bedrooms are down the hallway . Nice open den area to the Kitchen . Separate formal dining space or could be a home office. Some renovations done in kitchen and baths. Granite counters in Kitchen with tiled backsplash. Covered rear porch leads to a huge fenced yard with a shed.

16. 2016-01-21
    soldstatus $80,000 Sold
17. 2016-01-04
    status Under Contract
18. 2015-12-16
    listed $94,000 Active
19. 2015-12-16
    historical
20. 2015-12-15
    listed $94,000
21. 2015-09-19
    price $94,000
22. 2015-06-20
    listed $110,000 Active
23. 2015-06-17
    listed $94,000
24. 2011-08-04
    soldstatus $79,000
25. 2011-05-09
    listed $89,900
26. 2011-05-09
    listed $89,900
27. 2011-03-07
    soldstatus $75,000
28. 2010-06-10
    listed $120,000
29. 2010-06-10
    listed $120,000
30. 2008-08-19
    listed $149,500
31. 2008-08-19
    listed $149,500
32. 2005-11-10
    soldstatus $116,000
33. 2005-10-27
    soldstatus $116,000
34. 2005-09-27
    listed $118,000
35. 2005-09-27
    listed $118,000
36. 2001-09-28
    soldstatus $94,500
37. 2001-08-28
    listed $94,500
38. 2001-08-28
    listed $94,500
39. 1996-07-01
    soldstatus $78,900
40. 1996-05-09
    listed $79,900
41. 1996-05-09
    listed $79,900

ⓘ 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: $751 · $63/mo
• Projected year-2 tax: $1,182 · $99/mo
• Expected delta: +$432/yr (+$36/mo · 57.5%)

ⓘ 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 (shaded) · 74% 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: $24,017
• − Mortgage interest: −$12,043
• − Property taxes: −$751
• − Insurance: −$1,872
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$96
• − Depreciation: −$6,255
• Taxable loss: −$843
• Est. tax savings @ 24.0%: +$202
• After-tax cash flow: $2,926/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

+169.1% since first listed

28 events — show timeline

• 2026-01-02 Listed $215,000 GSREIN
• 2026-01-02 Listed $215,000 AcadianaMLS
• 2016-01-21 Sold (MLS) $80,000 GSREIN
• 2016-01-04 Pending — GSREIN
• 2015-12-16 Listed $94,000 GSREIN
• 2015-12-16 Listing Removed — GSREIN
• 2015-12-15 Listed $94,000 AcadianaMLS
• 2015-09-19 Price Changed $94,000 GSREIN
• 2015-06-20 Listed $110,000 GSREIN
• 2015-06-17 Listed $94,000 AcadianaMLS
• 2011-08-04 Sold (MLS) $79,000 GSREIN
• 2011-05-09 Listed $89,900 AcadianaMLS
• 2011-05-09 Listed $89,900 GSREIN
• 2011-03-07 Sold (Public Records) $75,000 Public Records
• 2010-06-10 Listed $120,000 GSREIN
• 2010-06-10 Listed $120,000 AcadianaMLS
• 2008-08-19 Listed $149,500 GSREIN
• 2008-08-19 Listed $149,500 AcadianaMLS
• 2005-11-10 Sold (Public Records) $116,000 Public Records
• 2005-10-27 Sold (MLS) $116,000 GSREIN
• 2005-09-27 Listed $118,000 AcadianaMLS
• 2005-09-27 Listed $118,000 GSREIN
• 2001-09-28 Sold (MLS) $94,500 GSREIN
• 2001-08-28 Listed $94,500 GSREIN
• 2001-08-28 Listed $94,500 AcadianaMLS
• 1996-07-01 Sold (MLS) $78,900 GSREIN
• 1996-05-09 Listed $79,900 GSREIN
• 1996-05-09 Listed $79,900 AcadianaMLS

Property tax history

-7.9%/yr

Latest (2025): $751 · -3.8% YoY. Source: county tax records.