705 Elk Rdg · Covington, LA 70435

$387,441

4 bd · 2.0 ba · 1,901 sqft · SingleFamily · 25 Days on market

Built 2026 Excellent condition 0.43 ac lot $204/sqft · 9% below area Est $424k · 9% under $83/mo HOA · 3% 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).

• ARV discount +11.4/15.0
• Cash flow +10.7/30.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

Key facts

• Cul-de-sac lot
• New construction
• Walk-in closet

Tags

• CUL-DE-SAC LOT
• NEW CONSTRUCTION
• WALK-IN PANTRY
• UNDERCABINET LIGHTING
• DOUBLE SINK VANITY
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $387k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-182 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $326k (15.8% below list).
• Recommended offer: $326k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• At $3,264/mo this rent would consume 48% of the median local household income ($81k/yr) (locally 296% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 25 days — a 2% lower offer ($382k) is reasonable based on typical stale-listing flexibility.
• 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

• Climate carrying-cost: 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 $326,367 (15.8% 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. 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. 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?
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: 0.84% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 9.9

CMA / ARV

• ARV (median comp): $424,021
• List price: $387,441
• Delta: -8.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Elk Rdg	0.00mi	4/2.0	1,901 (0%)	0mo	$386,441	$203	100
201 Stephanie Ln	0.54mi	4/2.0	1,960 (+3%)	2mo	$365,000	$186	68
375 Saw Grass Loop	0.45mi	4/2.0	1,954 (+3%)	19mo	$365,000	$187	58
75455 Trinchard Rd	0.61mi	4/3.0	1,872 (-2%)	15mo	$249,000	$133	52
671 Bateleur Way	0.47mi	3/2.0 (-1)	1,635 (-14%)	20mo	$315,000	$193	33

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: -19.6%
• Equity multiple: 0.32×
• Total profit: $-74,287
• Equity at exit: $57,769

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-79,225
• Equity at exit: $33,499

Cash invested: $108,483 (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: 9.9×

Monthly cashflow live

• Estimated rent: $3,264 medium
• Mortgage (P&I): −$2,032
• Tax est. 1.5%: −$484 /mo · $5,812/yr
• Insurance: −$161
• HOA: −$83
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $-182

Break-even live

Break-even rent $3,494

Max offer price $361,074

Occupancy floor —

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: $96,860
• Closing costs: $11,623
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,950	$2.32	3d	1	0.68mi
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,650	$2.15	11d	1	0.68mi
312 Beebalm Cir Covington, LA	3.0	2.0	2141	$2,600	$1.21	23d	1	1.32mi
312 Beebalm Cir Covington, LA	3.0	2.0	2141	$2,600	$1.21	43d	1	1.32mi

HOA detail

• Monthly dues: $83 · $996/yr
• Likely covers: watergasinternetlandscapingpool

Listing history 8 events

1. 2026-05-12
   status Pending 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

2. 2026-05-12
   status Pending 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

3. 2026-05-01
   status Active 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

4. 2026-05-01
   status Active 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

5. 2026-03-23
   status Pending 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

6. 2026-03-23
   status Pending 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

7. 2026-03-09
   listed $387,441 Active 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

8. 2026-03-09
   listed $387,441 Active 983-char remark

   Show marketing remark (983 chars)

   Awesome builder rate + FREE front gutters OR window blinds(restrictions apply)! Located on a Cul-De-Sac Lot! Brand NEW Construction built by DSLD HOMES in Spring Lakes! This Barlow IV A includes upgraded quartz counters, wood look plank tile flooring throughout, backsplash, stainless kitchen faucet and more! Special features: island, walk-in pantry, undercabinet lighting in kitchen, double sink vanity, walk-in closet, garden tub and separate custom tiled shower with frameless shower door in primary suite, ceiling fans in the living room and primary bedroom, crown molding, smart connect wi-fi thermostat, post tension slab, automatic garage door with two remotes, fully sodded yard with seasonal landscaping, architectural 30-year shingles, flood lights, covered patio and more! Energy Efficient Features: a tankless gas water heater, a stainless gas kitchen appliance package, low E tilt-in windows, radiant barrier roof decking and more! Community features a pool and cabana!

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 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: $39,164
• − Mortgage interest: −$21,703
• − Property taxes: −$5,812
• − Insurance: −$1,937
• − Repairs & maintenance: −$3,133
• − Management: −$3,133
• − HOA: −$996
• − Depreciation: −$11,271
• Taxable loss: −$8,821
• Est. tax savings @ 24.0%: +$2,117
• After-tax cash flow: $-70/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.

Condition & rehab AI · 6 photos

Excellent 95/100 None rehab

This newly constructed home is move-in ready with excellent condition and modern features. Minor updates like fresh paint and smart home systems can further enhance its value.

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Install smart home security system — Enhances safety and adds modern technology
• Both Add smart lighting system — Improves energy efficiency and ambiance
• Both Install smart thermostat — Saves energy and provides comfort

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Install smart home security system — Enhances safety and adds modern technology ↑
• Both Add smart lighting system — Improves energy efficiency and ambiance ↑
• Both Install smart thermostat — Saves energy and provides comfort ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

8 events — show timeline

• 2026-05-12 Pending — GSREIN
• 2026-05-12 Pending — AcadianaMLS
• 2026-05-01 Relisted — GSREIN
• 2026-05-01 Relisted — AcadianaMLS
• 2026-03-23 Pending — AcadianaMLS
• 2026-03-23 Pending — GSREIN
• 2026-03-09 Listed $387,441 AcadianaMLS
• 2026-03-09 Listed $387,441 GSREIN