242 Putters Ln #242 · Slidell, LA 70460

$120,000

2 bd · 1.5 ba · 1,200 sqft · Condo · 213 Days on market

Built 2000 Good condition $100/sqft · 8% below area Est $131k · 8% under $395/mo HOA · 26% 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).

• Cash flow +11.7/30.0
• ARV discount +11.2/15.0
• 1% rule +7.5/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting 2-bedroom, 1.5-bath townhome located just minutes from shopping centers with easy access to the interstate. This charming home features a cozy living room with a beautiful brick fireplace, creating a warm and welcoming atmosphere. The dining area flows seamlessly into a well-equipped kitchen with generous cabinet space. Upstairs, you'll find a spacious primary bedroom with high ceilings and access to a private balcony--an excellent spot to relax. The second bedroom offers comfortable space suited for guests or a home office. Step outside to the private, fenced backyard, a great place to entertain or unwind. With its convenient location and thoughtful layout, this home delivers comfort and value. Don't miss your opportunity--schedule a tour today!

Key facts

• Brick fireplace
• Private balcony
• Fenced backyard

Tags

• BRICK FIREPLACE
• PRIVATE BALCONY
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-36 ($-430/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (4.3% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#57 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living 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: Rents rising fast (+5.9%/yr); 241 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 of loan paydown is wiped out by about $4k 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 213 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $105,600 (12.0% 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 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.25% ✓
• Cap rate: 5.93%
• Cash-on-cash: -1.28%
• DSCR: 0.94
• GRM: 6.6

CMA / ARV

• ARV (median comp): $130,836
• List price: $120,000
• Delta: -8.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.50×
• Total profit: $-16,930
• Equity at exit: $17,892

10-year hold

• IRR: 1.1%
• Equity multiple: 1.09×
• Total profit: $3,143
• Equity at exit: $10,375

Cash invested: $33,600 (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 70460

• Rents YoY: 5.9%
• Active inventory: 241
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,504 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$395
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-36

Break-even live

Break-even rent $1,550

Max offer price $114,814

Occupancy floor 97%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Birdie Dr Slidell, LA	2.0	1.5	1205	$1,500	$1.24	44d	1	0.04mi
62075 Airport Rd Unit 075 Slidell, LA	2.0	2.0	1254	$1,550	$1.24	44d	1	0.05mi
47 Birdie Dr Slidell, LA	2.0	1.5	1200	$1,400	$1.17	44d	1	0.08mi
112 Birdie Dr Slidell, LA	2.0	1.5	1200	$1,350	$1.12	24d	1	0.17mi
100 Greenbrier Way Slidell, LA	1.0–3.0	1.0–2.5	1160	$1,618	$1.40	2d	21	0.24mi
34649 Grantham College Dr Slidell, LA	2.0	1.5	1070	$900	$0.84	3d	1	1.44mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $120,000 Active 213 DOM
2. 2026-06-17
   days on market $120,000 Active 212 DOM
3. 2026-06-16
   days on market $120,000 Active 211 DOM
4. 2026-06-15
   days on market $120,000 Active 210 DOM
5. 2026-06-13
   days on market $120,000 Active 208 DOM
6. 2026-06-10
   days on market $120,000 Active 205 DOM
7. 2026-06-09
   days on market $120,000 Active 204 DOM
8. 2026-06-08
   days on market $120,000 Active 203 DOM
9. 2026-06-07
   days on market $120,000 Active 202 DOM
10. 2026-06-03
    days on market $120,000 Active 198 DOM
11. 2026-06-02
    days on market $120,000 Active 197 DOM
12. 2026-06-01
    days on market $120,000 Active 196 DOM
13. 2026-05-31
    days on market $120,000 Active 195 DOM
14. 2026-01-06
    price $120,000 781-char remark

    Show marketing remark (803 chars)

    Welcome to this inviting 2-bedroom, 1.5-bath townhome located just minutes from shopping centers with easy access to the interstate. This charming home features a cozy living room with a beautiful brick fireplace, creating a warm and welcoming atmosphere. The dining area flows seamlessly into a well-equipped kitchen with generous cabinet space. Upstairs, you’ll find a spacious primary bedroom with high ceilings and access to a private balcony—an excellent spot to relax. The second bedroom offers comfortable space suited for guests or a home office. Step outside to the private, fenced backyard, a great place to entertain or unwind. With its convenient location and thoughtful layout, this home delivers comfort and value. Don’t miss your opportunity—schedule a tour today!

15. 2026-01-06
    price $120,000 803-char remark

    Show marketing remark (803 chars)

    Welcome to this inviting 2-bedroom, 1.5-bath townhome located just minutes from shopping centers with easy access to the interstate. This charming home features a cozy living room with a beautiful brick fireplace, creating a warm and welcoming atmosphere. The dining area flows seamlessly into a well-equipped kitchen with generous cabinet space. Upstairs, you’ll find a spacious primary bedroom with high ceilings and access to a private balcony—an excellent spot to relax. The second bedroom offers comfortable space suited for guests or a home office. Step outside to the private, fenced backyard, a great place to entertain or unwind. With its convenient location and thoughtful layout, this home delivers comfort and value. Don’t miss your opportunity—schedule a tour today!

16. 2025-11-17
    listed $129,000 Active 781-char remark

    Show marketing remark (803 chars)

    Welcome to this inviting 2-bedroom, 1.5-bath townhome located just minutes from shopping centers with easy access to the interstate. This charming home features a cozy living room with a beautiful brick fireplace, creating a warm and welcoming atmosphere. The dining area flows seamlessly into a well-equipped kitchen with generous cabinet space. Upstairs, you’ll find a spacious primary bedroom with high ceilings and access to a private balcony—an excellent spot to relax. The second bedroom offers comfortable space suited for guests or a home office. Step outside to the private, fenced backyard, a great place to entertain or unwind. With its convenient location and thoughtful layout, this home delivers comfort and value. Don’t miss your opportunity—schedule a tour today!

17. 2025-11-17
    listed $129,000 Active 803-char remark

    Show marketing remark (803 chars)

    Welcome to this inviting 2-bedroom, 1.5-bath townhome located just minutes from shopping centers with easy access to the interstate. This charming home features a cozy living room with a beautiful brick fireplace, creating a warm and welcoming atmosphere. The dining area flows seamlessly into a well-equipped kitchen with generous cabinet space. Upstairs, you’ll find a spacious primary bedroom with high ceilings and access to a private balcony—an excellent spot to relax. The second bedroom offers comfortable space suited for guests or a home office. Step outside to the private, fenced backyard, a great place to entertain or unwind. With its convenient location and thoughtful layout, this home delivers comfort and value. Don’t miss your opportunity—schedule a tour today!

18. 2025-01-14
    listed $129,000 Active
19. 2021-10-07
    soldstatus $111,700 Closed
20. 2021-08-12
    status Pending
21. 2021-07-29
    status Active
22. 2021-07-29
    historical
23. 2021-07-29
    listed $115,000 Active
24. 2021-07-29
    listed $115,000

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

Taxation est. · year 1

• Rental income: $18,052
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,444
• − Management: −$1,444
• − HOA: −$4,740
• − Depreciation: −$3,491
• Taxable loss: −$2,189
• Est. tax savings @ 24.0%: +$525
• After-tax cash flow: $95/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 · 11 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 1.5-bath townhome is in good condition with cosmetic updates needed to modernize the kitchen and bathrooms. The private yard and location make it a great investment.

Repairs flagged

• Minor kitchen cabinets — dated design
• Minor bathroom fixtures — standard, dated design

Value-add opportunities

• Resale update kitchen cabinets — modernizing the kitchen
• Resale update bathroom fixtures — modernizing the bathrooms
• Both paint interior walls — enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated design	Minor	$500–3,000
bathroom fixtures · standard, dated design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale update kitchen cabinets — modernizing the kitchen ↑
• Resale update bathroom fixtures — modernizing the bathrooms ↑
• Both paint interior walls — enhances curb appeal and interior aesthetics ↑

ⓘ 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 — Slidell

• Score: 70/100
• State rank: #57
• US rank: #7673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 21,669
• Household income: $62,565
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 318.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 29% Two or more races 11% Hispanic / Latino 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 13% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -93.87%
• Current HPI: 130.56
• Rent YoY: ▲ 5.91%
• 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

+4.3% since first listed

11 events — show timeline

• 2026-01-06 Price Changed $120,000 AcadianaMLS
• 2026-01-06 Price Changed $120,000 GSREIN
• 2025-11-17 Listed $129,000 GSREIN
• 2025-11-17 Listed $129,000 AcadianaMLS
• 2025-01-14 Listed $129,000 AcadianaMLS
• 2021-10-07 Sold (MLS) $111,700 GSREIN
• 2021-08-12 Pending — GSREIN
• 2021-07-29 Relisted — GSREIN
• 2021-07-29 Listing Removed — GSREIN
• 2021-07-29 Listed $115,000 AcadianaMLS
• 2021-07-29 Listed $115,000 GSREIN