79183 E Honeysuckle Estates Loop · Covington, LA 70435

$110,000

3 bd · 2.0 ba · 1,280 sqft · SingleFamily · 80 Days on market

Built 2013 0.89 ac lot $86/sqft · 56% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Key facts

• 0.89 acre lot
• Garage
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask is 686% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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; 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 $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.79% ✓
• Cap rate: 16.03%
• Cash-on-cash: 34.77%
• DSCR: 2.55
• GRM: 4.6

CMA / ARV

• ARV (median comp): $249,261
• List price: $110,000
• Delta: -55.87%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16903 Million Dollar Rd	0.71mi	3/2.0	1,091 (-15%)	5mo	$215,000	$197	38

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: 24.5%
• Equity multiple: 2.01×
• Total profit: $31,086
• Equity at exit: $16,401

10-year hold

• IRR: 32.3%
• Equity multiple: 3.93×
• Total profit: $90,184
• Equity at exit: $9,511

Cash invested: $30,800 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,973 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$46
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $767

Break-even live

Break-even rent $1,001

Max offer price $110,000

Occupancy floor 56%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $110,000 Active 80 DOM
2. 2026-06-17
   days on market $110,000 Active 79 DOM
3. 2026-06-16
   days on market $110,000 Active 78 DOM
4. 2026-06-15
   days on market $110,000 Active 77 DOM
5. 2026-06-13
   days on market $110,000 Active 75 DOM
6. 2026-06-10
   days on market $110,000 Active 72 DOM
7. 2026-06-09
   days on market $110,000 Active 71 DOM
8. 2026-06-08
   days on market $110,000 Active 70 DOM
9. 2026-06-07
   days on market $110,000 Active 69 DOM
10. 2026-06-03
    days on market $110,000 Active 65 DOM
11. 2026-06-02
    days on market $110,000 Active 64 DOM
12. 2026-06-01
    days on market $110,000 Active 63 DOM
13. 2026-05-31
    days on market $110,000 Active 62 DOM
14. 2026-04-07
    price $110,000
15. 2026-04-07
    price $110,000
16. 2026-03-30
    price $140,000
17. 2026-03-06
    listed $140,000 Active
18. 2026-03-06
    listed $14,000 Active
19. 2007-03-26
    soldstatus $84,900
20. 2007-03-09
    soldstatus $84,900
21. 2007-01-10
    listed $89,500
22. 2007-01-10
    listed $89,500

ⓘ 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: $519 · $43/mo
• Projected year-2 tax: $605 · $50/mo
• Expected delta: +$86/yr (+$7/mo · 16.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 72% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,671
• − Mortgage interest: −$6,162
• − Property taxes: −$519
• − Insurance: −$2,052
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$3,200
• Taxable income: $7,950
• Est. tax owed @ 24.0%: −$1,908
• After-tax cash flow: $7,298/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

+22.9% since first listed

9 events — show timeline

• 2026-04-07 Price Changed $110,000 AcadianaMLS
• 2026-04-07 Price Changed $110,000 GSREIN
• 2026-03-30 Price Changed $140,000 GSREIN
• 2026-03-06 Listed $14,000 GSREIN
• 2026-03-06 Listed $140,000 AcadianaMLS
• 2007-03-26 Sold (Public Records) $84,900 Public Records
• 2007-03-09 Sold (MLS) $84,900 GSREIN
• 2007-01-10 Listed $89,500 GSREIN
• 2007-01-10 Listed $89,500 AcadianaMLS

Property tax history

-6.2%/yr

Latest (2025): $519 · -3.7% YoY. Source: county tax records.