18312 Cusachs Dr · Covington, LA 70433

$304,945

3 bd · 2.0 ba · 1,858 sqft · SingleFamily public records · 304 Days on market

Built 1994 $164/sqft · 15% below area Est $359k · 15% under

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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 +14.3/15.0
• Cash flow +12.7/30.0
• Schools +4.3/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

Key facts

• Hvac
• Newer appliances
• Boat access

Tags

• BOAT ACCESS
• TCHEFUNCTE RIVER
• NEWER APPLIANCES
• TANKLESS WATER HEATER
• HVAC
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $-461 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (26.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (25.0% below list).
• Recommended offer: $223k (26.7% below list) — sets the bar for cash-flow.
• Cap rate 6.2% 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.
• Zoned schools: Marigny Elementary School (456 students, 33% FRL); Fontainebleau Junior High School (math 38% / reading 62%, grade C, #26 of 218 statewide, top 12%, 877 students, 37% FRL); Fontainebleau High School (math 56% / reading 61%, grade C, #23 of 265 statewide, top 9%, 1,677 students, 33% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 530 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 34% of the median local income ($81k/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 $9k 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 304 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $53k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $305k implies a 1425% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,494 (26.7% 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 304 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 11.1

CMA / ARV

• ARV (median comp): $358,961
• List price: $304,945
• Delta: -15.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18249 Derbes Dr	0.08mi	3/2.0	1,720 (-7%)	13mo	$348,000	$202	73
305 Avenue Palais Royal	0.60mi	3/2.0	1,852 (-0%)	3mo	$342,000	$185	69
1105 Avenue Du Chateau St	0.37mi	3/2.0	1,963 (+6%)	17mo	$385,000	$196	59
18070 Cusachs Dr	0.45mi	3/2.5	2,049 (+10%)	23mo	$480,000	$234	40

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -25.8%
• Equity multiple: 0.11×
• Total profit: $-75,594
• Equity at exit: $45,468

10-year hold

• IRR: -18.4%
• Equity multiple: -0.06×
• Total profit: $-90,231
• Equity at exit: $26,366

Cash invested: $85,385 (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 70433

• Rents YoY: 4.3%
• Active inventory: 530
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,287 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$115 /mo · $1,379/yr
• Insurance: −$127
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-461

Break-even live

Break-even rent $2,870

Max offer price $223,494

Occupancy floor —

Sensitivity live

Price	-10% $-288	-5% $-375	+0% $-461	+5% $-547	+10% $-634
Rent	-10% $-642	-5% $-551	+0% $-461	+5% $-371	+10% $-280
Rate	-1.0pp $-308	-0.5pp $-384	base $-461	+0.5pp $-540	+1.0pp $-620

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: $76,236
• Closing costs: $9,148
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1612 Versailles Business Pkwy Covington, LA	1.0–2.0	1.0–2.0	1009	$2,089	$2.07	4d	31	0.43mi
69037 Riverbend Dr Covington, LA	3.0	2.0	1689	$3,500	$2.07	25d	1	0.84mi
312 Lismore Ln Covington, LA	3.0	2.5	1521	$2,900	$1.91	25d	1	1.00mi
110 Robinhood Dr Covington, LA	3.0	2.0	1600	$1,500	$0.94	45d	1	1.32mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	5d	1	1.38mi
308 Robinhood Dr Covington, LA	3.0	2.0	1650	$1,800	$1.09	5d	1	1.42mi
1776 Continental Dr Covington, LA	3.0	1.0–2.0	990	$1,936	$1.96	3d	21	1.43mi
2209 Archwyck Cir Covington, LA	4.0	3.0	2256	$3,500	$1.55	25d	1	1.45mi
445 Tiger Ave Covington, LA	3.0	2.0	1538	$2,300	$1.50	25d	1	1.48mi

Listing history 42 events

1. 2026-06-21
   days on market $304,945 Active 304 DOM
2. 2026-06-18
   days on market $304,945 Active 301 DOM
3. 2026-06-17
   days on market $304,945 Active 300 DOM
4. 2026-06-16
   days on market $304,945 Active 299 DOM
5. 2026-06-15
   days on market $304,945 Active 298 DOM
6. 2026-06-13
   days on market $304,945 Active 296 DOM
7. 2026-06-10
   days on market $304,945 Active 293 DOM
8. 2026-06-09
   days on market $304,945 Active 292 DOM
9. 2026-06-08
   days on market $304,945 Active 291 DOM
10. 2026-06-07
    days on market $304,945 Active 290 DOM
11. 2026-06-03
    days on market $304,945 Active 286 DOM
12. 2026-06-02
    pricedays on market $304,945 Active 285 DOM
13. 2026-06-01
    days on market $310,000 Active 284 DOM
14. 2026-05-31
    days on market $310,000 Active 283 DOM
15. 2026-05-18
    price $310,000 358-char remark

    Show marketing remark (358 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

16. 2026-05-17
    price $310,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

17. 2026-04-09
    price $315,000 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

18. 2026-04-09
    price $315,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

19. 2026-02-23
    price $324,000 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

20. 2026-02-23
    price $324,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

21. 2026-01-12
    price $330,000 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

22. 2026-01-12
    price $330,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

23. 2025-12-08
    price $344,000 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

24. 2025-12-08
    price $344,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

25. 2025-10-07
    price $349,000 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

26. 2025-10-07
    price $349,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

27. 2025-09-13
    price $358,000 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

28. 2025-09-13
    price $358,000 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

29. 2025-08-21
    listed $365,000 Active 358-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

30. 2025-08-21
    listed $365,000 Active 360-char remark

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

31. 2025-08-21
    listed $358,000 Active

    Show marketing remark (360 chars)

    This recently remodeled 3BR/2BA has Boat Access to the Tchefuncte River! Bring the boat and start living the good life with afternoon boat trips on the river. The recent updates include newer appliances, tankless water heater, HVAC, granite countertops, backsplash, flooring, fixtures, and bathroom updates! Fully fenced Double lot (#49 & #50) with shed.

32. 2005-07-28
    soldstatus $20,000
33. 2005-07-20
    soldstatus $189,500
34. 2005-05-16
    listed $195,000
35. 2005-05-16
    listed $195,000
36. 2004-10-08
    soldstatus $183,000
37. 2004-09-17
    soldstatus $183,000
38. 2004-06-10
    listed $184,000
39. 2004-06-10
    listed $184,000
40. 2003-02-04
    soldstatus $165,000
41. 2003-01-06
    listed $165,000
42. 2003-01-06
    listed $165,000

ⓘ 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: $1,379 · $115/mo
• Projected year-2 tax: $1,677 · $140/mo
• Expected delta: +$299/yr (+$25/mo · 21.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 92% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,442
• − Mortgage interest: −$17,082
• − Property taxes: −$1,379
• − Insurance: −$6,643
• − Repairs & maintenance: −$2,195
• − Management: −$2,195
• − Depreciation: −$8,871
• Taxable loss: −$10,924
• Est. tax savings @ 24.0%: +$2,622
• After-tax cash flow: $-2,911/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): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1287.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

+87.9% since first listed

28 events — show timeline

• 2026-05-18 Price Changed $310,000 AcadianaMLS
• 2026-05-17 Price Changed $310,000 GSREIN
• 2026-04-09 Price Changed $315,000 AcadianaMLS
• 2026-04-09 Price Changed $315,000 GSREIN
• 2026-02-23 Price Changed $324,000 AcadianaMLS
• 2026-02-23 Price Changed $324,000 GSREIN
• 2026-01-12 Price Changed $330,000 AcadianaMLS
• 2026-01-12 Price Changed $330,000 GSREIN
• 2025-12-08 Price Changed $344,000 AcadianaMLS
• 2025-12-08 Price Changed $344,000 GSREIN
• 2025-10-07 Price Changed $349,000 AcadianaMLS
• 2025-10-07 Price Changed $349,000 GSREIN
• 2025-09-13 Price Changed $358,000 AcadianaMLS
• 2025-09-13 Price Changed $358,000 GSREIN
• 2025-08-21 Listed $358,000 AcadianaMLS
• 2025-08-21 Listed $365,000 GSREIN
• 2025-08-21 Listed $365,000 AcadianaMLS
• 2005-07-28 Sold (Public Records) $20,000 Public Records
• 2005-07-20 Sold (MLS) $189,500 GSREIN
• 2005-05-16 Listed $195,000 GSREIN
• 2005-05-16 Listed $195,000 AcadianaMLS
• 2004-10-08 Sold (Public Records) $183,000 Public Records
• 2004-09-17 Sold (MLS) $183,000 GSREIN
• 2004-06-10 Listed $184,000 GSREIN
• 2004-06-10 Listed $184,000 AcadianaMLS
• 2003-02-04 Sold (MLS) $165,000 GSREIN
• 2003-01-06 Listed $165,000 GSREIN
• 2003-01-06 Listed $165,000 AcadianaMLS

Property tax history

-4.0%/yr

Latest (2025): $1,379 · -3.8% YoY. Source: county tax records.