82330 Highway 437 Hwy · Folsom, LA 70435

$225,000

3 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 6 Days on market

Built 1956 1.32 ac lot Est $277k · 19% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled beneath a breathtaking canopy of majestic live oak trees, this charming country property offers the perfect blend of privacy, character, and wide-open space. Set on a beautifully treed lot, the home welcomes you with a classic front porch and timeless cottage appeal, creating a peaceful retreat just minutes from the conveniences of Covington. Inside, warm wood-paneled walls and abundant natural light create a cozy, rustic atmosphere throughout the living spaces. The inviting living room offers the perfect place to relax, while the spacious eat-in kitchen features extensive cabinetry, generous counter space, and stainless steel appliances, providing both functionality and charm. Step outside and enjoy the expansive grounds, where mature shade trees, open green space, and a large backyard create endless opportunities for outdoor entertaining, gardening, recreation, or simply enjoying the tranquil surroundings. A covered side patio provides additional outdoor living space, while a detached storage building offers room for tools, equipment, or hobby space. Whether you're seeking a peaceful primary residence, a weekend retreat, or a property with room to grow, this unique Covington gem delivers country living at its finest. Enjoy the beauty of nature, the comfort of a charming home, and the freedom of a spacious setting all in one exceptional property.

Key facts

• Front porch
• Eat in kitchen
• Large backyard

Tags

• FRONT PORCH
• EAT IN KITCHEN
• STAINLESS STEEL APPLIANCES
• EXPANSIVE GROUNDS
• LARGE BACKYARD
• COVERED SIDE PATIO

Property features AI

Exterior

• Parking: Driveway; Three or more parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank
• Home design: Single-story; Raised foundation; Wood siding construction; Shingle roof; Outside city limits lot
• Construction: Built with wood siding
• Exterior features: Covered porch; Porch

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/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 $199k (11.4% below list).
• Recommended offer: $199k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 2.9% in Folsom — 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 72/100 on livability (#40 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: Lee Road Junior High School (math 40% / reading 49%, grade F, #176 of 646 statewide, top 29%, 788 students, 44% FRL); Covington High School (math 32% / reading 44%, grade F, #90 of 265 statewide, top 34%, 1,660 students, 46% FRL).
• Market conditions: 370 active listings in the ZIP; 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 $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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,441 (11.4% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $277,440
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
82330 Hwy 437 Hwy	0.00mi	3/2.0	1,362 (+0%)	12mo	$210,000	$154	90
82113 Hwy 437	0.43mi	3/2.0	1,250 (-8%)	20mo	$255,000	$204	49

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-24,010
• Equity at exit: $33,548

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-5,093
• Equity at exit: $19,454

Cash invested: $63,000 (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: 370
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,994 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$105 /mo · $1,263/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $197

Break-even live

Break-even rent $1,745

Max offer price $225,000

Occupancy floor 85%

Sensitivity live

Price	-10% $324	-5% $260	+0% $197	+5% $133	+10% $69
Rent	-10% $39	-5% $118	+0% $197	+5% $275	+10% $354
Rate	-1.0pp $310	-0.5pp $254	base $197	+0.5pp $138	+1.0pp $79

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-22
   days on market $225,000 Active 6 DOM
2. 2026-06-21
   days on market $225,000 Active 5 DOM
3. 2026-06-18
   days on market $225,000 Active 2 DOM
4. 2026-06-16
   remarks 699-char remark

   Show marketing remark (1377 chars)

   Nestled beneath a breathtaking canopy of majestic live oak trees, this charming country property offers the perfect blend of privacy, character, and wide-open space. Set on a beautifully treed lot, the home welcomes you with a classic front porch and timeless cottage appeal, creating a peaceful retreat just minutes from the conveniences of Covington. Inside, warm wood-paneled walls and abundant natural light create a cozy, rustic atmosphere throughout the living spaces. The inviting living room offers the perfect place to relax, while the spacious eat-in kitchen features extensive cabinetry, generous counter space, and stainless steel appliances, providing both functionality and charm. Step outside and enjoy the expansive grounds, where mature shade trees, open green space, and a large backyard create endless opportunities for outdoor entertaining, gardening, recreation, or simply enjoying the tranquil surroundings. A covered side patio provides additional outdoor living space, while a detached storage building offers room for tools, equipment, or hobby space. Whether you're seeking a peaceful primary residence, a weekend retreat, or a property with room to grow, this unique Covington gem delivers country living at its finest. Enjoy the beauty of nature, the comfort of a charming home, and the freedom of a spacious setting all in one exceptional property.

5. 2026-06-16
   listed $225,000 Active 1 DOM

   Show marketing remark (1377 chars)

   Nestled beneath a breathtaking canopy of majestic live oak trees, this charming country property offers the perfect blend of privacy, character, and wide-open space. Set on a beautifully treed lot, the home welcomes you with a classic front porch and timeless cottage appeal, creating a peaceful retreat just minutes from the conveniences of Covington. Inside, warm wood-paneled walls and abundant natural light create a cozy, rustic atmosphere throughout the living spaces. The inviting living room offers the perfect place to relax, while the spacious eat-in kitchen features extensive cabinetry, generous counter space, and stainless steel appliances, providing both functionality and charm. Step outside and enjoy the expansive grounds, where mature shade trees, open green space, and a large backyard create endless opportunities for outdoor entertaining, gardening, recreation, or simply enjoying the tranquil surroundings. A covered side patio provides additional outdoor living space, while a detached storage building offers room for tools, equipment, or hobby space. Whether you're seeking a peaceful primary residence, a weekend retreat, or a property with room to grow, this unique Covington gem delivers country living at its finest. Enjoy the beauty of nature, the comfort of a charming home, and the freedom of a spacious setting all in one exceptional property.

ⓘ 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: $1,263 · $105/mo
• Projected year-2 tax: $1,263 · $105/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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $23,933
• − Mortgage interest: −$12,603
• − Property taxes: −$1,263
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,915
• − Management: −$1,915
• − Depreciation: −$6,545
• Taxable loss: −$1,433
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $2,704/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 — Folsom

• Score: 72/100
• State rank: #40
• US rank: #6135

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment C 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
• 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

+119.5% since first listed

8 events — show timeline

• 2026-06-16 Listed $225,000 GSREIN
• 2026-06-16 Listed $225,000 AcadianaMLS
• 2025-07-03 Sold (Public Records) $210,000 Public Records
• 2025-07-02 Sold (MLS) $210,000 GSREIN
• 2025-05-24 Contingent — GSREIN
• 2025-05-01 Listed $210,000 GSREIN
• 2025-05-01 Listed $210,000 AcadianaMLS
• 2004-06-14 Sold (Public Records) $102,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,263 · +210.7% YoY. Source: county tax records.