624 Teddy Ave · Slidell, LA 70458

$119,000

2 bd · 1.0 ba · 1,027 sqft · SingleFamily public records · 150 Days on market

Built 2003 5,662 sqft lot $116/sqft · 27% below area Est $162k · 27% under

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don't miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

Key facts

• 5,662 sq ft lot
• Parking
• Built 2003

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.9% in Slidell — 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 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 (+1.5%/yr); 489 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $823 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 150 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $119k implies a 105% gain — meaningful room to come down on a strong offer.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.18% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.48%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $161,978
• List price: $119,000
• Delta: -26.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
656 Teddy Ave	0.03mi	2/1.0	908 (-12%)	16mo	$179,000	$197	66
1827 5th St	0.18mi	2/1.0	958 (-7%)	20mo	$115,000	$120	64
1411 8th St	0.32mi	3/1.0 (+1)	1,175 (+14%)	0mo	$166,160	$141	56

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,868
• Equity at exit: $17,743

10-year hold

• IRR: 5.6%
• Equity multiple: 1.39×
• Total profit: $12,948
• Equity at exit: $10,289

Cash invested: $33,320 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $291

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 74%

Sensitivity live

Price	-10% $373	-5% $332	+0% $291	+5% $250	+10% $209
Rent	-10% $180	-5% $235	+0% $291	+5% $347	+10% $402
Rate	-1.0pp $351	-0.5pp $321	base $291	+0.5pp $260	+1.0pp $229

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Michigan Ave Slidell, LA	3.0	2.0	1250	$1,575	$1.26	24d	1	0.18mi
2001 Tenth St Unit B Slidell, LA	3.0	2.0	1137	$1,550	$1.36	17d	1	0.23mi
516 Erlanger Ave Slidell, LA	2.0	2.0	1250	$1,750	$1.40	44d	1	0.24mi
2004 5th St Unit A Slidell, LA	2.0	1.0	900	$1,250	$1.39	24d	1	0.25mi
517 Erlanger Ave Unit A Slidell, LA	3.0	2.0	1134	$1,400	$1.23	44d	1	0.27mi
517 Erlanger Ave Unit A Slidell, LA	3.0	2.0	1134	$1,375	$1.21	15d	1	0.27mi
1112 Cousin St Slidell, LA	2.0	1.0	782	$1,100	$1.41	3d	1	0.34mi
756 Gause Blvd Unit 38 Slidell, LA	2.0	2.0	814	$1,000	$1.23	44d	1	0.47mi
756 Gause Blvd Unit 38 Slidell, LA	2.0	2.0	814	$1,000	$1.23	3d	1	0.47mi
48 Chamale Cv E Slidell, LA	2.0	2.0	1432	$1,650	$1.15	44d	1	0.61mi
96 Chamale Cv Slidell, LA	2.0	2.5	1432	$1,500	$1.05	24d	1	0.73mi
96 Chamale Cv Slidell, LA	3.0	2.5	1432	$1,500	$1.05	44d	1	0.73mi
1466 Florida Ave Slidell, LA	3.0	2.0	1456	$2,200	$1.51	44d	1	0.81mi
2594 Front St Unit 2 Slidell, LA	1.0	1.0	1200	$1,450	$1.21	15d	1	0.88mi
2594 Front St Unit 3 Slidell, LA	1.0	1.0	800	$1,250	$1.56	44d	1	0.88mi
943 N Magnolia St Slidell, LA	2.0	2.0	900	$1,000	$1.11	3d	1	0.92mi
1731 Mary Dr Slidell, LA	3.0	2.0	1200	$1,650	$1.38	3d	1	0.94mi
1733 Mary Dr Slidell, LA	3.0	2.0	1349	$1,650	$1.22	44d	1	0.95mi
2009 Beth Dr Slidell, LA	3.0	2.0	1500	$1,750	$1.17	3d	1	0.96mi
736 N Walnut St Slidell, LA	3.0	1.5	983	$1,100	$1.12	24d	1	1.14mi
734 Walnut St Slidell, LA	2.0	1.0	800	$1,050	$1.31	44d	1	1.15mi
221 Martin Ln Slidell, LA	3.0	1.5	1353	$1,800	$1.33	24d	1	1.23mi
2864 Slidell Ave Slidell, LA	3.0	1.0	963	$1,395	$1.45	3d	1	1.23mi
110 Canulette Rd #12 Slidell, LA	1.0	1.0	1300	$1,000	$0.77	21d	1	1.28mi
1303 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	990	$1,588	$1.60	2d	31	1.30mi
901 Old Spanish Trl Slidell, LA	2.0	1.5	1070	$1,120	$1.05	12d	1	1.36mi
932 Asheville Dr Slidell, LA	2.0	1.5	1220	$1,225	$1.00	3d	1	1.36mi
908 Asheville Dr Slidell, LA	2.0	1.0	1000	$1,350	$1.35	11d	1	1.37mi
3152 College St Slidell, LA	3.0	1.0	1373	$1,750	$1.27	44d	1	1.37mi
816 Rue Rochelle Slidell, LA	2.0	1.5	1500	$1,200	$0.80	44d	1	1.38mi
1500 Richmond Dr Slidell, LA	2.0	2.0	1137	$1,250	$1.10	3d	1	1.41mi
3159 Dee St Slidell, LA	3.0	1.0	898	$1,400	$1.56	44d	1	1.41mi
1513 Savannah Dr Slidell, LA	2.0	1.5	1000	$1,150	$1.15	3d	1	1.44mi
1536 Richmond Dr Slidell, LA	2.0	1.5	958	$1,150	$1.20	24d	1	1.48mi

Listing history 13 events

1. 2026-06-08
   days on market $119,000 Active 150 DOM
2. 2026-06-07
   days on market $119,000 Active 149 DOM
3. 2026-06-03
   days on market $119,000 Active 145 DOM
4. 2026-06-02
   days on market $119,000 Active 144 DOM
5. 2026-06-01
   days on market $119,000 Active 143 DOM
6. 2026-05-31
   days on market $119,000 Active 142 DOM
7. 2026-04-02
   price $119,000 436-char remark

   Show marketing remark (442 chars)

   This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don’t miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

8. 2026-04-02
   price $119,000 442-char remark

   Show marketing remark (442 chars)

   This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don’t miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

9. 2026-02-10
   price $127,000 436-char remark

   Show marketing remark (442 chars)

   This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don’t miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

10. 2026-02-10
    price $127,000 442-char remark

    Show marketing remark (442 chars)

    This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don’t miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

11. 2026-01-09
    listed $134,500 Active 436-char remark

    Show marketing remark (442 chars)

    This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don’t miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

12. 2026-01-09
    listed $134,500 Active 442-char remark

    Show marketing remark (442 chars)

    This charming 2 bedroom, 1 bathroom cottage needs TLC. The home is priced to reflect the updates needed, offering an excellent opportunity for investors or home buyers looking to add value and make it their own. This home qualifies for a FHA renovation loan. The property is being sold AS-IS, with no repairs to be made by the seller. Don’t miss your chance to turn this diamond in the rough into a true gem! Agent is related to seller.

13. 2002-09-20
    soldstatus $58,000

ⓘ 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: $16,911
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$3,462
• Taxable income: $1,698
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $3,084/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 — 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

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• 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

+105.2% since first listed

7 events — show timeline

• 2026-04-02 Price Changed $119,000 AcadianaMLS
• 2026-04-02 Price Changed $119,000 GSREIN
• 2026-02-10 Price Changed $127,000 AcadianaMLS
• 2026-02-10 Price Changed $127,000 GSREIN
• 2026-01-09 Listed $134,500 GSREIN
• 2026-01-09 Listed $134,500 AcadianaMLS
• 2002-09-20 Sold (Public Records) $58,000 Public Records

Property tax history

-14.6%/yr

Latest (2025): $160 · -14.4% YoY. Source: county tax records.