40669 Cara Mae St · Slidell, LA 70461

$263,900

3 bd · 2.0 ba · 1,549 sqft · SingleFamily · 46 Days on market

Built 2026 6,316 sqft lot Est $263k · at est. $42/mo HOA · 2% of rent

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Why this score? — see what drove the D- 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 +11.2/30.0
• ARV discount +7.4/15.0
• Schools +4.3/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Evergreen floor plan, a thoughtfully designed home located in Bonterra, a new home community in Slidell, Louisiana. Offering the perfect blend of comfort, style, and functionality. Nestled on a low-maintenance homesite, this home is ideal for those seeking a relaxed lifestyle without the hassle of extensive yard upkeep. The Evergreen has 3 spacious bedrooms, 2 bathrooms, and approximately 1,549 sq. ft. of living space, providing ample room for families, couples, or anyone looking for a smart layout that maximizes every square foot. Step inside to an open-concept living area that seamlessly connects the kitchen, dining, and living rooms--perfect for entertaining or enjoying everyday moments. The kitchen is equipped with shaker-style cabinetry, 3 cm granite countertops, a single-basin undermount sink, and stainless-steel appliances including a stove, microwave hood, and dishwasher. A gooseneck pulldown faucet adds both style and convenience. The laundry room is strategically located near the dining area, keeping you connected to the heart of the home while handling daily chores with ease. Retreat to the private primary suite, complete with a spacious bedroom, a dual vanity ensuite bathroom, a shower/tub combination, and a separate toilet area. A walk-in closet offers generous storage space, making organization effortless. Whether you're hosting guests or enjoying a quiet evening at home, the Evergreen plan is designed to support your lifestyle with comfort and elegance. Interested in the Evergreen floor plan? Contact us today to learn more and schedule your personal tour!

Key facts

• Granite countertops
• 6,316 sq ft lot
• Garage

Tags

• LOW MAINTENANCE HOMESITE
• OPEN CONCEPT LIVING AREA
• SHAKER STYLE CABINETRY
• GRANITE COUNTERTOPS
• SINGLE BASIN UNDERMOUNT SINK
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $264k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (15.4% below list).
• Recommended offer: $223k (15.4% 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: Alton Elementary School (math 27% / reading 47%, grade F, #251 of 646 statewide, top 41%, 215 students, 88% FRL); Little Oak Middle School (math 50% / reading 58%, grade B-, #19 of 218 statewide, top 9%, 929 students, 41% FRL); Northshore High School (math 53% / reading 61%, grade C, #25 of 265 statewide, top 9%, 1,681 students, 32% FRL).
• Market conditions: Rents rising (+1.7%/yr); 589 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 30% of the median local income ($89k/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 $8k 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 46 days — a 3% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $223,158 (15.4% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.67%
• DSCR: 0.93
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $263,330
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40669 Cara Mae St	0.00mi	3/2.0	1,549 (0%)	1mo	$263,900	$170	99
40665 Cara Mae Dr	0.01mi	4/2.0 (+1)	1,555 (+0%)	1mo	$27,490	$18	94
40698 Cara Mae Dr	0.15mi	4/2.0 (+1)	1,555 (+0%)	0mo	$282,900	$182	87
40674 Cara Mae Dr	0.15mi	4/2.0 (+1)	1,555 (+0%)	1mo	$277,900	$179	86
40535 Cara Mae St	0.00mi	4/2.0 (+1)	1,610 (+4%)	3mo	$233,550	$145	86
40644 Cara Mae Dr	0.15mi	4/2.0 (+1)	1,555 (+0%)	3mo	$269,900	$174	85
40451 Cara Mae St	0.00mi	4/2.0 (+1)	1,610 (+4%)	5mo	$246,900	$153	84
40620 Cara Mae Dr	0.15mi	4/2.0 (+1)	1,555 (+0%)	5mo	$282,900	$182	83
40547 Cara Mae St	0.01mi	3/2.0	1,392 (-10%)	0mo	$244,900	$176	83
313 Lake Erie Dr	0.56mi	3/2.0	1,500 (-3%)	3mo	$219,000	$146	66
808 N Pearl Dr	0.45mi	3/2.0	1,729 (+12%)	4mo	$231,000	$134	56
604 Lake Superior Dr	0.65mi	3/2.0	1,776 (+15%)	2mo	$130,000	$73	43

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.30×
• Total profit: $-52,089
• Equity at exit: $39,348

10-year hold

• IRR: -16.8%
• Equity multiple: 0.12×
• Total profit: $-64,897
• Equity at exit: $22,817

Cash invested: $73,892 (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 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 589
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,232 high
• Mortgage (P&I): −$1,384
• Tax est. 1.5%: −$330 /mo · $3,958/yr
• Insurance: −$110
• HOA: −$42
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-103

Break-even live

Break-even rent $2,362

Max offer price $249,024

Occupancy floor 100%

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: $65,975
• Closing costs: $7,917
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	24d	1	0.13mi
814 Lake Borgne Ct Slidell, LA	3.0	2.0	1560	$1,900	$1.22	21d	1	0.34mi
4145 Saint Peter St Slidell, LA	3.0	2.0	1422	$2,000	$1.41	44d	1	0.79mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	44d	1	0.82mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,150	$1.60	3d	1	1.07mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,200	$1.64	44d	1	1.07mi
507 Cross Gates Blvd Slidell, LA	3.0	2.0	2045	$2,150	$1.05	24d	1	1.09mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	12d	1	1.13mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	3d	1	1.13mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,000	$1.33	12d	1	1.43mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,500	$1.56	44d	1	1.43mi
433 Grafton Dr Slidell, LA	3.0	2.0	1625	$1,900	$1.17	44d	1	1.45mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 4 events

1. 2026-03-10
   status Pending 1611-char remark

   Show marketing remark (1611 chars)

   Welcome to the Evergreen floor plan, a thoughtfully designed home located in Bonterra, a new home community in Slidell, Louisiana. Offering the perfect blend of comfort, style, and functionality. Nestled on a low-maintenance homesite, this home is ideal for those seeking a relaxed lifestyle without the hassle of extensive yard upkeep. The Evergreen has 3 spacious bedrooms, 2 bathrooms, and approximately 1,549 sq. ft. of living space, providing ample room for families, couples, or anyone looking for a smart layout that maximizes every square foot. Step inside to an open-concept living area that seamlessly connects the kitchen, dining, and living rooms--perfect for entertaining or enjoying everyday moments. The kitchen is equipped with shaker-style cabinetry, 3 cm granite countertops, a single-basin undermount sink, and stainless-steel appliances including a stove, microwave hood, and dishwasher. A gooseneck pulldown faucet adds both style and convenience. The laundry room is strategically located near the dining area, keeping you connected to the heart of the home while handling daily chores with ease. Retreat to the private primary suite, complete with a spacious bedroom, a dual vanity ensuite bathroom, a shower/tub combination, and a separate toilet area. A walk-in closet offers generous storage space, making organization effortless. Whether you're hosting guests or enjoying a quiet evening at home, the Evergreen plan is designed to support your lifestyle with comfort and elegance. Interested in the Evergreen floor plan? Contact us today to learn more and schedule your personal tour!

2. 2026-03-10
   status Pending

   Show marketing remark (1611 chars)

   Welcome to the Evergreen floor plan, a thoughtfully designed home located in Bonterra, a new home community in Slidell, Louisiana. Offering the perfect blend of comfort, style, and functionality. Nestled on a low-maintenance homesite, this home is ideal for those seeking a relaxed lifestyle without the hassle of extensive yard upkeep. The Evergreen has 3 spacious bedrooms, 2 bathrooms, and approximately 1,549 sq. ft. of living space, providing ample room for families, couples, or anyone looking for a smart layout that maximizes every square foot. Step inside to an open-concept living area that seamlessly connects the kitchen, dining, and living rooms--perfect for entertaining or enjoying everyday moments. The kitchen is equipped with shaker-style cabinetry, 3 cm granite countertops, a single-basin undermount sink, and stainless-steel appliances including a stove, microwave hood, and dishwasher. A gooseneck pulldown faucet adds both style and convenience. The laundry room is strategically located near the dining area, keeping you connected to the heart of the home while handling daily chores with ease. Retreat to the private primary suite, complete with a spacious bedroom, a dual vanity ensuite bathroom, a shower/tub combination, and a separate toilet area. A walk-in closet offers generous storage space, making organization effortless. Whether you're hosting guests or enjoying a quiet evening at home, the Evergreen plan is designed to support your lifestyle with comfort and elegance. Interested in the Evergreen floor plan? Contact us today to learn more and schedule your personal tour!

3. 2026-01-23
   listed $263,900 Active 1611-char remark

   Show marketing remark (1611 chars)

   Welcome to the Evergreen floor plan, a thoughtfully designed home located in Bonterra, a new home community in Slidell, Louisiana. Offering the perfect blend of comfort, style, and functionality. Nestled on a low-maintenance homesite, this home is ideal for those seeking a relaxed lifestyle without the hassle of extensive yard upkeep. The Evergreen has 3 spacious bedrooms, 2 bathrooms, and approximately 1,549 sq. ft. of living space, providing ample room for families, couples, or anyone looking for a smart layout that maximizes every square foot. Step inside to an open-concept living area that seamlessly connects the kitchen, dining, and living rooms--perfect for entertaining or enjoying everyday moments. The kitchen is equipped with shaker-style cabinetry, 3 cm granite countertops, a single-basin undermount sink, and stainless-steel appliances including a stove, microwave hood, and dishwasher. A gooseneck pulldown faucet adds both style and convenience. The laundry room is strategically located near the dining area, keeping you connected to the heart of the home while handling daily chores with ease. Retreat to the private primary suite, complete with a spacious bedroom, a dual vanity ensuite bathroom, a shower/tub combination, and a separate toilet area. A walk-in closet offers generous storage space, making organization effortless. Whether you're hosting guests or enjoying a quiet evening at home, the Evergreen plan is designed to support your lifestyle with comfort and elegance. Interested in the Evergreen floor plan? Contact us today to learn more and schedule your personal tour!

4. 2026-01-23
   listed $263,900 Active

   Show marketing remark (1611 chars)

   Welcome to the Evergreen floor plan, a thoughtfully designed home located in Bonterra, a new home community in Slidell, Louisiana. Offering the perfect blend of comfort, style, and functionality. Nestled on a low-maintenance homesite, this home is ideal for those seeking a relaxed lifestyle without the hassle of extensive yard upkeep. The Evergreen has 3 spacious bedrooms, 2 bathrooms, and approximately 1,549 sq. ft. of living space, providing ample room for families, couples, or anyone looking for a smart layout that maximizes every square foot. Step inside to an open-concept living area that seamlessly connects the kitchen, dining, and living rooms--perfect for entertaining or enjoying everyday moments. The kitchen is equipped with shaker-style cabinetry, 3 cm granite countertops, a single-basin undermount sink, and stainless-steel appliances including a stove, microwave hood, and dishwasher. A gooseneck pulldown faucet adds both style and convenience. The laundry room is strategically located near the dining area, keeping you connected to the heart of the home while handling daily chores with ease. Retreat to the private primary suite, complete with a spacious bedroom, a dual vanity ensuite bathroom, a shower/tub combination, and a separate toilet area. A walk-in closet offers generous storage space, making organization effortless. Whether you're hosting guests or enjoying a quiet evening at home, the Evergreen plan is designed to support your lifestyle with comfort and elegance. Interested in the Evergreen floor plan? Contact us today to learn more and schedule your personal tour!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,779
• − Mortgage interest: −$14,783
• − Property taxes: −$3,958
• − Insurance: −$1,320
• − Repairs & maintenance: −$2,142
• − Management: −$2,142
• − HOA: −$504
• − Depreciation: −$7,677
• Taxable loss: −$5,747
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $146/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): 34,808
• Household income: $89,003
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 328.0

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 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 14% Hispanic / Latino 11% Asian 3%
• Common ancestry: Lithuanian 9% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 7% Chinese 1% Vietnamese 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: ▼ -74.47%
• Current HPI: 151.3353
• Rent YoY: ▲ 1.72%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-03-10 Pending — AcadianaMLS
• 2026-03-10 Pending — GSREIN
• 2026-01-23 Listed $263,900 GSREIN
• 2026-01-23 Listed $263,900 AcadianaMLS