20245 Highway 1081 Hwy · Covington, LA 70435

$105,000

3 bd · 2.0 ba · 1,455 sqft · SingleFamily · 5 Days on market

Built 2002 1.05 ac lot

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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

Listing remarks MLS

*Multiple offer situation. Please submit highest and best by Sunday, April 12th at 5 pm * Nestled on a generous 1.05 acre lot in the desirable Lee Road school district! This 2002 double-wide manufactured home offers comfortable living with plenty of room to grow. Immobilized and ready for your personal touches, this 3-bedroom, 2-bathroom home features a functional, single-level layout. Recent updates include a durable metal roof installed approximately 6 years ago, providing peace of mind and long-term protection. The home is situated conveniently in Flood Zone X. Inside, you'll find three generously sized bedrooms and two full bathrooms, along with a kitchen that includes all appliances. They convey with the sale -- including the washer and dryer. Enjoy the convenience of everything you need to move right in and make it your own. With ample outdoor space on the cleared acreage, there's plenty of room for gardening, outdoor gatherings, or future expansions. Whether you're looking for a primary residence, a rental investment, or a peaceful country retreat, this property delivers solid value in a great location. Don't miss this opportunity! Schedule a showing today to see the potential for yourself.

Key facts

• 1.05 acre lot
• 3 parking spots
• Built 2002

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 16.5% 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 $726 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 $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $105,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.88% ✓
• Cap rate: 16.50%
• Cash-on-cash: 36.44%
• DSCR: 2.62
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $274,995
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21268 Shadow Bend Dr	0.04mi	3/2.0	1,561 (+7%)	8mo	$294,745	$189	80
21265 Shadow Bend Dr	0.04mi	3/2.0	1,656 (+14%)	5mo	$295,990	$179	71

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: 32.2%
• Equity multiple: 2.36×
• Total profit: $39,848
• Equity at exit: $15,656

10-year hold

• IRR: 39.3%
• Equity multiple: 4.67×
• Total profit: $107,899
• Equity at exit: $9,078

Cash invested: $29,400 (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 70435

• Home prices YoY: -27.3%
• Active inventory: 365
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,973 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $893

Break-even live

Break-even rent $843

Max offer price $105,000

Occupancy floor 50%

Sensitivity live

Price	-10% $952	-5% $923	+0% $893	+5% $863	+10% $833
Rent	-10% $737	-5% $815	+0% $893	+5% $971	+10% $1,049
Rate	-1.0pp $946	-0.5pp $920	base $893	+0.5pp $866	+1.0pp $838

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-13
   status Pending 1216-char remark

   Show marketing remark (1216 chars)

   *Multiple offer situation. Please submit highest and best by Sunday, April 12th at 5 pm * Nestled on a generous 1.05 acre lot in the desirable Lee Road school district! This 2002 double-wide manufactured home offers comfortable living with plenty of room to grow. Immobilized and ready for your personal touches, this 3-bedroom, 2-bathroom home features a functional, single-level layout. Recent updates include a durable metal roof installed approximately 6 years ago, providing peace of mind and long-term protection. The home is situated conveniently in Flood Zone X. Inside, you'll find three generously sized bedrooms and two full bathrooms, along with a kitchen that includes all appliances. They convey with the sale -- including the washer and dryer. Enjoy the convenience of everything you need to move right in and make it your own. With ample outdoor space on the cleared acreage, there's plenty of room for gardening, outdoor gatherings, or future expansions. Whether you're looking for a primary residence, a rental investment, or a peaceful country retreat, this property delivers solid value in a great location. Don't miss this opportunity! Schedule a showing today to see the potential for yourself.

2. 2026-04-13
   status Pending

   Show marketing remark (1216 chars)

   *Multiple offer situation. Please submit highest and best by Sunday, April 12th at 5 pm * Nestled on a generous 1.05 acre lot in the desirable Lee Road school district! This 2002 double-wide manufactured home offers comfortable living with plenty of room to grow. Immobilized and ready for your personal touches, this 3-bedroom, 2-bathroom home features a functional, single-level layout. Recent updates include a durable metal roof installed approximately 6 years ago, providing peace of mind and long-term protection. The home is situated conveniently in Flood Zone X. Inside, you'll find three generously sized bedrooms and two full bathrooms, along with a kitchen that includes all appliances. They convey with the sale -- including the washer and dryer. Enjoy the convenience of everything you need to move right in and make it your own. With ample outdoor space on the cleared acreage, there's plenty of room for gardening, outdoor gatherings, or future expansions. Whether you're looking for a primary residence, a rental investment, or a peaceful country retreat, this property delivers solid value in a great location. Don't miss this opportunity! Schedule a showing today to see the potential for yourself.

3. 2026-04-08
   listed $105,000 Active 1216-char remark

   Show marketing remark (1216 chars)

   *Multiple offer situation. Please submit highest and best by Sunday, April 12th at 5 pm * Nestled on a generous 1.05 acre lot in the desirable Lee Road school district! This 2002 double-wide manufactured home offers comfortable living with plenty of room to grow. Immobilized and ready for your personal touches, this 3-bedroom, 2-bathroom home features a functional, single-level layout. Recent updates include a durable metal roof installed approximately 6 years ago, providing peace of mind and long-term protection. The home is situated conveniently in Flood Zone X. Inside, you'll find three generously sized bedrooms and two full bathrooms, along with a kitchen that includes all appliances. They convey with the sale -- including the washer and dryer. Enjoy the convenience of everything you need to move right in and make it your own. With ample outdoor space on the cleared acreage, there's plenty of room for gardening, outdoor gatherings, or future expansions. Whether you're looking for a primary residence, a rental investment, or a peaceful country retreat, this property delivers solid value in a great location. Don't miss this opportunity! Schedule a showing today to see the potential for yourself.

4. 2026-04-08
   listed $105,000 Active

   Show marketing remark (1216 chars)

   *Multiple offer situation. Please submit highest and best by Sunday, April 12th at 5 pm * Nestled on a generous 1.05 acre lot in the desirable Lee Road school district! This 2002 double-wide manufactured home offers comfortable living with plenty of room to grow. Immobilized and ready for your personal touches, this 3-bedroom, 2-bathroom home features a functional, single-level layout. Recent updates include a durable metal roof installed approximately 6 years ago, providing peace of mind and long-term protection. The home is situated conveniently in Flood Zone X. Inside, you'll find three generously sized bedrooms and two full bathrooms, along with a kitchen that includes all appliances. They convey with the sale -- including the washer and dryer. Enjoy the convenience of everything you need to move right in and make it your own. With ample outdoor space on the cleared acreage, there's plenty of room for gardening, outdoor gatherings, or future expansions. Whether you're looking for a primary residence, a rental investment, or a peaceful country retreat, this property delivers solid value in a great location. Don't miss this opportunity! Schedule a showing today to see the potential for yourself.

5. 2007-05-11
   soldstatus $92,000
6. 2007-05-09
   soldstatus $92,000 271-char remark

   Show marketing remark (271 chars)

   FULLY SKIRTED DOUBLE WIDE MOBILE HOME ON ONE ACRE JUST MINUTES TO COVINGTON SHOPPING. HOME BOASTS OPEN FLOOR PLAN WITH LARGE KITCHEN. LARGE MASTER BATH WITH GARDEN TUB AND SEPARATE SHOWER. LIVING ROOM HAS WOOD BURNING FIREPLACE AND DINING ROOM HAS BUILT IN CHINA CABINET.

7. 2007-02-21
   listed $96,000 271-char remark

   Show marketing remark (271 chars)

   FULLY SKIRTED DOUBLE WIDE MOBILE HOME ON ONE ACRE JUST MINUTES TO COVINGTON SHOPPING. HOME BOASTS OPEN FLOOR PLAN WITH LARGE KITCHEN. LARGE MASTER BATH WITH GARDEN TUB AND SEPARATE SHOWER. LIVING ROOM HAS WOOD BURNING FIREPLACE AND DINING ROOM HAS BUILT IN CHINA CABINET.

8. 2007-02-21
   listed $96,000

   Show marketing remark (271 chars)

   FULLY SKIRTED DOUBLE WIDE MOBILE HOME ON ONE ACRE JUST MINUTES TO COVINGTON SHOPPING. HOME BOASTS OPEN FLOOR PLAN WITH LARGE KITCHEN. LARGE MASTER BATH WITH GARDEN TUB AND SEPARATE SHOWER. LIVING ROOM HAS WOOD BURNING FIREPLACE AND DINING ROOM HAS BUILT IN CHINA CABINET.

9. 2003-10-10
   soldstatus $80,750

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $860 · $72/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: $23,680
• − Mortgage interest: −$5,882
• − Property taxes: −$860
• − Insurance: −$525
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$3,055
• Taxable income: $9,570
• Est. tax owed @ 24.0%: −$2,297
• After-tax cash flow: $8,418/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

+30.0% since first listed

9 events — show timeline

• 2026-04-13 Pending — AcadianaMLS
• 2026-04-13 Pending — GSREIN
• 2026-04-08 Listed $105,000 GSREIN
• 2026-04-08 Listed $105,000 AcadianaMLS
• 2007-05-11 Sold (Public Records) $92,000 Public Records
• 2007-05-09 Sold (MLS) $92,000 GSREIN
• 2007-02-21 Listed $96,000 AcadianaMLS
• 2007-02-21 Listed $96,000 GSREIN
• 2003-10-10 Sold (Public Records) $80,750 Public Records

Property tax history

+0.1%/yr

Latest (2025): $860 · -3.7% YoY. Source: county tax records.