1490 Harbor Dr #108 · Eden Isle, LA 70458

$64,900

1 bd · 1.0 ba · 479 sqft · Condo public records · 4 Days on market

Built 1987 $165/mo HOA · 16% of rent

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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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable Slidell condo in the Anchorage offers a waterfront location overlooking the lake, where you can enjoy sunsets on your private balcony while listening to music from the Blue Crab just across the water. The ground floor studio unit includes granite countertops, all stainless steel kitchen appliances, as well as a washer and dryer with new flooring with no carpet. The property is within a gated community and offers amenities such as multiple pools and an on-site workout facility. It provides easy access to New Orleans, I-12, and I-59, and is just minutes away from shopping, restaurants, and Old Town. Don’t miss out on this piece of paradise!

Key facts

• Pool
• Built 1987
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 10.6% 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; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 19y ago; this cycle's ask is 5308% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $64,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $2,843
• Equity at exit: $9,677

10-year hold

• IRR: 11.9%
• Equity multiple: 1.86×
• Total profit: $15,690
• Equity at exit: $5,611

Cash invested: $18,172 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$27
• HOA: −$165
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $233

Break-even live

Break-even rent $755

Max offer price $64,900

Occupancy floor 73%

Sensitivity live

Price	-10% $270	-5% $251	+0% $233	+5% $215	+10% $196
Rent	-10% $150	-5% $192	+0% $233	+5% $275	+10% $316
Rate	-1.0pp $266	-0.5pp $250	base $233	+0.5pp $216	+1.0pp $199

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $165 · $1,980/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-05-16
   historical $1,200
2. 2026-05-03
   listed $1,200
3. 2026-05-02
   historical $1,200
4. 2026-05-02
   listed $1,200
5. 2025-08-29
   historical $1,400
6. 2025-05-11
   listed $1,400
7. 2025-05-06
   historical $1,100
8. 2025-04-02
   price $1,100
9. 2025-03-11
   listed $1,250
10. 2024-12-13
    soldstatus $62,500 Closed 666-char remark

    Show marketing remark (666 chars)

    This adorable Slidell condo in the Anchorage offers a waterfront location overlooking the lake, where you can enjoy sunsets on your private balcony while listening to music from the Blue Crab just across the water. The ground floor studio unit includes granite countertops, all stainless steel kitchen appliances, as well as a washer and dryer with new flooring with no carpet. The property is within a gated community and offers amenities such as multiple pools and an on-site workout facility. It provides easy access to New Orleans, I-12, and I-59, and is just minutes away from shopping, restaurants, and Old Town. Don’t miss out on this piece of paradise!

11. 2024-11-27
    status Pending 666-char remark

    Show marketing remark (666 chars)

    This adorable Slidell condo in the Anchorage offers a waterfront location overlooking the lake, where you can enjoy sunsets on your private balcony while listening to music from the Blue Crab just across the water. The ground floor studio unit includes granite countertops, all stainless steel kitchen appliances, as well as a washer and dryer with new flooring with no carpet. The property is within a gated community and offers amenities such as multiple pools and an on-site workout facility. It provides easy access to New Orleans, I-12, and I-59, and is just minutes away from shopping, restaurants, and Old Town. Don’t miss out on this piece of paradise!

12. 2024-11-26
    listed $64,900 Active 666-char remark

    Show marketing remark (666 chars)

    This adorable Slidell condo in the Anchorage offers a waterfront location overlooking the lake, where you can enjoy sunsets on your private balcony while listening to music from the Blue Crab just across the water. The ground floor studio unit includes granite countertops, all stainless steel kitchen appliances, as well as a washer and dryer with new flooring with no carpet. The property is within a gated community and offers amenities such as multiple pools and an on-site workout facility. It provides easy access to New Orleans, I-12, and I-59, and is just minutes away from shopping, restaurants, and Old Town. Don’t miss out on this piece of paradise!

13. 2024-11-26
    listed $64,900 Active

    Show marketing remark (666 chars)

    This adorable Slidell condo in the Anchorage offers a waterfront location overlooking the lake, where you can enjoy sunsets on your private balcony while listening to music from the Blue Crab just across the water. The ground floor studio unit includes granite countertops, all stainless steel kitchen appliances, as well as a washer and dryer with new flooring with no carpet. The property is within a gated community and offers amenities such as multiple pools and an on-site workout facility. It provides easy access to New Orleans, I-12, and I-59, and is just minutes away from shopping, restaurants, and Old Town. Don’t miss out on this piece of paradise!

14. 2020-12-21
    soldstatus $68,000 Closed
15. 2020-11-12
    status Pending
16. 2020-10-07
    status Active
17. 2020-09-30
    historical
18. 2020-08-11
    listed $72,500
19. 2020-08-11
    listed $72,500 Active
20. 2007-07-24
    soldstatus $84,900
21. 2007-07-18
    soldstatus $84,900
22. 2007-06-29
    listed $84,900
23. 2007-06-29
    listed $84,900

ⓘ 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: $767 · $64/mo
• Projected year-2 tax: $767 · $64/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: $12,598
• − Mortgage interest: −$3,635
• − Property taxes: −$767
• − Insurance: −$324
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − HOA: −$1,980
• − Depreciation: −$1,888
• Taxable income: $1,988
• Est. tax owed @ 24.0%: −$477
• After-tax cash flow: $2,320/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

-98.6% since first listed

23 events — show timeline

• 2026-05-16 Rental Removed $1,200 GSREIN
• 2026-05-03 Listed for Rent $1,200 GSREIN
• 2026-05-02 Rental Removed $1,200 RAAMLS
• 2026-05-02 Listed for Rent $1,200 RAAMLS
• 2025-08-29 Rental Removed $1,400 RENTSPREE
• 2025-05-11 Listed for Rent $1,400 RENTSPREE
• 2025-05-06 Rental Removed $1,100 GSREIN
• 2025-04-02 Price Changed $1,100 GSREIN
• 2025-03-11 Listed for Rent $1,250 GSREIN
• 2024-12-13 Sold (MLS) $62,500 GSREIN
• 2024-11-27 Pending — GSREIN
• 2024-11-26 Listed $64,900 AcadianaMLS
• 2024-11-26 Listed $64,900 GSREIN
• 2020-12-21 Sold (MLS) $68,000 GSREIN
• 2020-11-12 Pending — GSREIN
• 2020-10-07 Relisted — GSREIN
• 2020-09-30 Listing Removed — GSREIN
• 2020-08-11 Listed $72,500 GSREIN
• 2020-08-11 Listed $72,500 AcadianaMLS
• 2007-07-24 Sold (MLS) $84,900 GSREIN
• 2007-07-18 Sold (Public Records) $84,900 Public Records
• 2007-06-29 Listed $84,900 AcadianaMLS
• 2007-06-29 Listed $84,900 GSREIN

Property tax history

-2.2%/yr

Latest (2025): $767 · +1865.5% YoY. Source: county tax records.