1490 Harbor Dr #309 · Eden Isle, LA 70458

$80,000

1 bd · 1.0 ba · 594 sqft · Condo public records · 104 Days on market

Built 1986 $135/sqft · 27% below area Est $109k · 27% under $326/mo HOA · 27% of rent ↓ 30% since listing

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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 +21.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.7/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable, 1-Bed, 1-Bath Fully Furnished Condo with Pool & Harbor Views Welcome to your own waterfront retreat! This beautifully furnished 1-bedroom, 1-bath condo offers a relaxed fit lifestyle, complete with all appliances for your convenience. Located on the third floor, enjoy beautiful views of the pool and harbor from your private balcony--an ideal spot for sipping coffee in the morning or unwinding with a drink in the evening. The complex boasts multiple pools, 2 fitness centers, and a scenic waterfront walking path for you and your pets - great for taking in spectacular sunrises and sunsets. Ideally situated for commuters heading north to Stennis or south to New Orleans, this prime location also offers quick access to shopping, restaurants, pharmacies, medical facilities and much more! Experience the best of comfort and convenience--schedule a tour today!

Key facts

• Private balcony
• Fitness centers
• Waterfront retreat

Tags

• WATERFRONT RETREAT
• PRIVATE BALCONY
• MULTIPLE POOLS
• FITNESS CENTERS
• SCENIC WATERFRONT WALKING PATH
• QUICK ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.8% in Eden Isle — 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 62/100 on livability (#207 in LA) — a middle-class / working-renter tenant base. Strengths: crime A, housing A, employment B; Watch: schools D, 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 (+1.5%/yr); 489 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $553 of loan paydown is wiped out by about $2k 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 104 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.16%
• DSCR: 1.27
• GRM: 5.4

CMA / ARV

• ARV (median comp): $109,005
• List price: $80,000
• Delta: -26.61%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-7,298
• Equity at exit: $11,928

10-year hold

• IRR: -2.5%
• Equity multiple: 0.84×
• Total profit: $-3,499
• Equity at exit: $6,917

Cash invested: $22,400 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,226 high
• Mortgage (P&I): −$420
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$33
• HOA: −$326
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $115

Break-even live

Break-even rent $1,080

Max offer price $80,000

Occupancy floor 86%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1490 Harbor Dr #205 Slidell, LA	1.0	1.0	682	$1,200	$1.76	3d	1	0.03mi
1490 Harbor Dr #206 Slidell, LA	1.0	1.0	594	$1,200	$2.02	17d	1	0.03mi
1490 Harbor Dr #205 Slidell, LA	1.0	1.0	594	$1,200	$2.02	10d	1	0.03mi
1580 Harbor Dr #321 Slidell, LA	1.0	1.0	594	$1,450	$2.44	43d	1	0.06mi
1850 Harbor Dr Slidell, LA	1.0–2.0	1.0–2.0	855	$1,173	$1.37	19d	6	0.24mi
62200 W End Blvd Slidell, LA	1.0–2.0	1.0–2.0	925	$1,090	$1.18	1d	14	0.56mi
3500 Oak Harbor Blvd Slidell, LA	1.0–2.0	1.0–2.0	880	$1,180	$1.34	1d	9	0.85mi
4638 Pontchartrain Dr Unit R Slidell, LA	1.0	1.0	600	$1,200	$2.00	23d	1	1.47mi

HOA detail condo

• Monthly dues: $326 · $3,912/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $80,000 Active 104 DOM
2. 2026-06-17
   days on market $80,000 Active 103 DOM
3. 2026-06-16
   days on market $80,000 Active 102 DOM
4. 2026-06-15
   days on market $80,000 Active 101 DOM
5. 2026-06-13
   days on market $80,000 Active 99 DOM
6. 2026-06-10
   days on market $80,000 Active 96 DOM
7. 2026-06-09
   days on market $80,000 Active 95 DOM
8. 2026-06-08
   days on market $80,000 Active 94 DOM
9. 2026-06-07
   days on market $80,000 Active 93 DOM
10. 2026-06-03
    days on market $80,000 Active 89 DOM
11. 2026-06-02
    days on market $80,000 Active 88 DOM
12. 2026-06-01
    days on market $80,000 Active 87 DOM
13. 2026-05-31
    days on market $80,000 Active 86 DOM
14. 2026-03-06
    listed $80,000 Active 876-char remark

    Show marketing remark (888 chars)

    Adorable, 1-Bed, 1-Bath Fully Furnished Condo with Pool & Harbor Views Welcome to your own waterfront retreat! This beautifully furnished 1-bedroom, 1-bath condo offers a relaxed fit lifestyle, complete with all appliances for your convenience. Located on the third floor, enjoy beautiful views of the pool and harbor from your private balcony—an ideal spot for sipping coffee in the morning or unwinding with a drink in the evening. The complex boasts multiple pools, 2 fitness centers, and a scenic waterfront walking path for you and your pets - great for taking in spectacular sunrises and sunsets. Ideally situated for commuters heading north to Stennis or south to New Orleans, this prime location also offers quick access to shopping, restaurants, pharmacies, medical facilities and much more! Experience the best of comfort and convenience—schedule a tour today!

15. 2026-03-06
    listed $80,000 Active 888-char remark

    Show marketing remark (888 chars)

    Adorable, 1-Bed, 1-Bath Fully Furnished Condo with Pool & Harbor Views Welcome to your own waterfront retreat! This beautifully furnished 1-bedroom, 1-bath condo offers a relaxed fit lifestyle, complete with all appliances for your convenience. Located on the third floor, enjoy beautiful views of the pool and harbor from your private balcony—an ideal spot for sipping coffee in the morning or unwinding with a drink in the evening. The complex boasts multiple pools, 2 fitness centers, and a scenic waterfront walking path for you and your pets - great for taking in spectacular sunrises and sunsets. Ideally situated for commuters heading north to Stennis or south to New Orleans, this prime location also offers quick access to shopping, restaurants, pharmacies, medical facilities and much more! Experience the best of comfort and convenience—schedule a tour today!

16. 2025-07-18
    price $84,000
17. 2025-07-18
    price $84,000
18. 2025-07-01
    price $85,000
19. 2025-07-01
    price $85,000
20. 2025-06-26
    price $87,000
21. 2025-06-26
    price $87,000
22. 2025-06-09
    price $90,000
23. 2025-06-09
    price $90,000
24. 2025-06-03
    price $95,000
25. 2025-06-03
    price $95,000
26. 2025-05-19
    price $100,000
27. 2025-05-19
    price $100,000
28. 2025-04-28
    price $105,000
29. 2025-04-28
    price $105,000
30. 2025-04-12
    price $110,000
31. 2025-04-12
    price $110,000
32. 2025-04-01
    price $115,000
33. 2025-03-25
    listed $115,000 Active
34. 2024-06-18
    historical $1,450
35. 2024-06-05
    listed $1,450
36. 2007-07-23
    soldstatus $114,900
37. 2007-07-13
    soldstatus $114,900
38. 2007-06-27
    listed $114,900
39. 2007-06-27
    listed $114,900

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $893 · $74/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $14,707
• − Mortgage interest: −$4,481
• − Property taxes: −$893
• − Insurance: −$400
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − HOA: −$3,912
• − Depreciation: −$2,327
• Taxable income: $340
• Est. tax owed @ 24.0%: −$82
• After-tax cash flow: $1,298/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 — Eden Isle

• Score: 62/100
• State rank: #207
• US rank: #16121

Category grades

Amenities F Commute F Cost of living C+ Crime A Employment B Housing A Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eden Isle, LA
• County: Saint Tammany Parish · 228,296 people
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

-30.4% since first listed

26 events — show timeline

• 2026-03-06 Listed $80,000 GSREIN
• 2026-03-06 Listed $80,000 AcadianaMLS
• 2025-07-18 Price Changed $84,000 AcadianaMLS
• 2025-07-18 Price Changed $84,000 GSREIN
• 2025-07-01 Price Changed $85,000 AcadianaMLS
• 2025-07-01 Price Changed $85,000 GSREIN
• 2025-06-26 Price Changed $87,000 AcadianaMLS
• 2025-06-26 Price Changed $87,000 GSREIN
• 2025-06-09 Price Changed $90,000 AcadianaMLS
• 2025-06-09 Price Changed $90,000 GSREIN
• 2025-06-03 Price Changed $95,000 AcadianaMLS
• 2025-06-03 Price Changed $95,000 GSREIN
• 2025-05-19 Price Changed $100,000 AcadianaMLS
• 2025-05-19 Price Changed $100,000 GSREIN
• 2025-04-28 Price Changed $105,000 AcadianaMLS
• 2025-04-28 Price Changed $105,000 GSREIN
• 2025-04-12 Price Changed $110,000 AcadianaMLS
• 2025-04-12 Price Changed $110,000 GSREIN
• 2025-04-01 Price Changed $115,000 GSREIN
• 2025-03-25 Listed $115,000 AcadianaMLS
• 2024-06-18 Rental Removed $1,450 GSREIN
• 2024-06-05 Listed for Rent $1,450 GSREIN
• 2007-07-23 Sold (Public Records) $114,900 Public Records
• 2007-07-13 Sold (MLS) $114,900 GSREIN
• 2007-06-27 Listed $114,900 AcadianaMLS
• 2007-06-27 Listed $114,900 GSREIN

Property tax history

-3.4%/yr

Latest (2025): $893 · -3.8% YoY. Source: county tax records.