Bay Leaf Plan · Slidell, LA 70461

$254,900

4 bd · 2.0 ba · 1,581 sqft · SingleFamily · 205 Days on market

Excellent condition

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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 +9.4/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Condition / age +5.0/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to The Bay Leaf, a beautifully designed single-story new construction home offering 4 bedrooms, 2 bathrooms, and a 1-car garage across 1,581 square feet of comfortable, thoughtfully planned living space. Designed for modern living, this open-concept floor plan is perfect for families, entertainers, first-time buyers, and anyone searching for a functional and stylish home in Bonterra, Slidell, La. Step inside from the covered front porch into a welcoming foyer with convenient access to the laundry room. The Bay Leaf opens into a bright, flowing layout where the kitchen, dining, and living room come together seamlessly, creating the ideal space for everyday living and gathering with friends and family. The modern kitchen features a spacious island overlooking the living area, a walk-in pantry, and easy access to the dining room. Homebuyers will love the stainless steel appliances, including a stove, microwave hood, and dishwasher, paired with beautiful 3 cm granite countertops throughout, adding durability, style, and value. The primary bedroom suite, located privately toward the rear of the home, offers a relaxing retreat complete with a large walk-in closet and a well-appointed bathroom with dual-sink vanity and linen storage. Three additional secondary bedrooms are thoughtfully positioned throughout the home, providing flexibility for children's rooms, guest space, home office needs, or hobby areas, all supported by a conveniently located second full bathroom.

Key facts

• Spacious island
• Modern kitchen
• Walk-in pantry

Tags

• NEW CONSTRUCTION HOME
• OPEN-CONCEPT FLOOR PLAN
• MODERN KITCHEN
• SPACIOUS ISLAND
• WALK-IN PANTRY
• STAINLESS STEEL APPLIANCES

🏗️ New construction. The $254,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $282,944.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (12.9% below list).
• Recommended offer: $222k (12.9% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Cypress Cove Elementary School (657 students, 53% FRL); Little Oak Middle School (math 50% / reading 58%, grade B-, #19 of 218 statewide, top 9%, 929 students, 41% FRL); Northshore High School (math 53% / reading 61%, grade C, #25 of 265 statewide, top 9%, 1,681 students, 32% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: Rents rising (+1.7%/yr); 690 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 71d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $8k 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 205 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.

Recommended offer $222,016 (12.9% 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 205 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (median comp): $282,944
• List price: $254,900
• Delta: -9.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40698 Cara Mae Dr	0.06mi	4/2.0	1,555 (-2%)	2mo	$282,900	$182	93
40674 Cara Mae Dr	0.05mi	4/2.0	1,555 (-2%)	3mo	$277,900	$179	92
40644 Cara Mae Dr	0.06mi	4/2.0	1,555 (-2%)	4mo	$269,900	$174	91
40665 Cara Mae Dr	0.19mi	4/2.0	1,555 (-2%)	2mo	$274,900	$177	86
40535 Cara Mae St	0.18mi	4/2.0	1,610 (+2%)	5mo	$233,550	$145	84
40669 Cara Mae St	0.18mi	3/2.0 (-1)	1,549 (-2%)	2mo	$263,900	$170	81
60404 Culper Dr	0.17mi	4/2.0	1,798 (+14%)	4mo	$279,900	$156	65
40547 Cara Mae St	0.19mi	3/2.0 (-1)	1,392 (-12%)	2mo	$244,900	$176	65
40543 Cara Mae St	0.21mi	3/2.0 (-1)	1,343 (-15%)	1mo	$239,900	$179	59
4367 Maple Dr	0.72mi	3/2.0 (-1)	1,491 (-6%)	3mo	$28,000	$19	50
4122 Saint Peter St	0.70mi	3/2.0 (-1)	1,780 (+13%)	1mo	$180,000	$101	40
4613 Oak Dr	0.73mi	3/2.0 (-1)	1,345 (-15%)	3mo	$250,000	$186	34

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -22.8%
• Equity multiple: 0.22×
• Total profit: $-61,468
• Equity at exit: $42,188

10-year hold

• IRR: -20.8%
• Equity multiple: -0.02×
• Total profit: $-81,201
• Equity at exit: $24,464

Cash invested: $79,224 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 24 active · 14 under contract
• Months of supply: 5.5 mo (18%/mo absorbed)
• Median asking: $262,950 ($174/sqft)
• Median days on market: 141 d
• This list price: 38% of active listings are priced below it
• ARV vs active asking: +3.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 690
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,220 high
• Mortgage (P&I): −$1,484
• Tax est. 1.5%: −$354 /mo · $4,244/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $-201

Break-even live

Break-even rent $2,475

Max offer price $253,796

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-104	+0% $-201	+5% $-299	+10% $-397
Rent	-10% $-377	-5% $-289	+0% $-201	+5% $-114	+10% $-26
Rate	-1.0pp $-59	-0.5pp $-129	base $-201	+0.5pp $-275	+1.0pp $-349

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: $70,736
• Closing costs: $8,488
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40665 Cara Mae St Slidell, LA	4.0	2.0	1658	$2,100	$1.27	34d	1	0.16mi
40365 Cara Mae St Slidell, LA	3.0	2.0	1343	$1,995	$1.49	21d	1	0.22mi
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	72d	1	0.27mi
814 Lake Borgne Ct Slidell, LA	3.0	2.0	1560	$1,900	$1.22	70d	1	0.40mi
4145 Saint Peter St Slidell, LA	3.0	2.0	1422	$2,000	$1.41	93d	1	0.70mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	93d	1	0.92mi
210 Camden St Slidell, LA	4.0	2.0	2200	$2,250	$1.02	11d	1	1.10mi
507 Cross Gates Blvd Slidell, LA	3.0	2.0	2045	$2,150	$1.05	72d	1	1.19mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,000	$1.49	16d	1	1.20mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,200	$1.64	93d	1	1.20mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,000	$1.46	21d	1	1.21mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	61d	1	1.21mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,500	$1.56	93d	1	1.50mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,000	$1.33	61d	1	1.50mi

Listing history 50 events

1. 2026-08-08
   days on market $254,900 Active 205 DOM
2. 2026-08-07
   days on market $254,900 Active 204 DOM
3. 2026-08-06
   days on market $254,900 Active 203 DOM
4. 2026-08-05
   days on market $254,900 Active 202 DOM
5. 2026-08-04
   days on market $254,900 Active 201 DOM
6. 2026-08-03
   days on market $254,900 Active 200 DOM
7. 2026-07-31
   days on market $254,900 Active 197 DOM
8. 2026-07-30
   days on market $254,900 Active 195 DOM
9. 2026-07-28
   days on market $254,900 Active 194 DOM
10. 2026-07-26
    days on market $254,900 Active 192 DOM
11. 2026-07-24
    days on market $254,900 Active 190 DOM
12. 2026-07-23
    days on market $254,900 Active 189 DOM
13. 2026-07-22
    days on market $254,900 Active 188 DOM
14. 2026-07-21
    days on market $254,900 Active 187 DOM
15. 2026-07-20
    days on market $254,900 Active 186 DOM
16. 2026-07-18
    days on market $254,900 Active 184 DOM
17. 2026-07-18
    days on market $254,900 Active 183 DOM
18. 2026-07-16
    days on market $254,900 Active 182 DOM
19. 2026-07-15
    days on market $254,900 Active 181 DOM
20. 2026-07-14
    days on market $254,900 Active 180 DOM
21. 2026-07-13
    days on market $254,900 Active 179 DOM
22. 2026-07-13
    days on market $254,900 Active 178 DOM
23. 2026-07-11
    days on market $254,900 Active 177 DOM
24. 2026-07-10
    days on market $254,900 Active 176 DOM
25. 2026-07-09
    days on market $254,900 Active 175 DOM
26. 2026-07-07
    days on market $254,900 Active 173 DOM
27. 2026-07-06
    days on market $254,900 Active 172 DOM
28. 2026-07-05
    days on market $254,900 Active 171 DOM
29. 2026-07-03
    days on market $254,900 Active 169 DOM
30. 2026-07-02
    days on market $254,900 Active 168 DOM
31. 2026-07-01
    days on market $254,900 Active 167 DOM
32. 2026-06-30
    days on market $254,900 Active 166 DOM
33. 2026-06-29
    days on market $254,900 Active 165 DOM
34. 2026-06-28
    days on market $254,900 Active 164 DOM
35. 2026-06-27
    days on market $254,900 Active 163 DOM
36. 2026-06-27
    days on market $254,900 Active 162 DOM
37. 2026-06-25
    days on market $254,900 Active 160 DOM
38. 2026-06-22
    days on market $254,900 Active 158 DOM
39. 2026-06-21
    days on market $254,900 Active 157 DOM
40. 2026-06-18
    days on market $254,900 Active 154 DOM
41. 2026-06-17
    days on market $254,900 Active 153 DOM
42. 2026-06-16
    days on market $254,900 Active 152 DOM
43. 2026-06-15
    days on market $254,900 Active 151 DOM
44. 2026-06-13
    days on market $254,900 Active 149 DOM
45. 2026-06-10
    days on market $254,900 Active 146 DOM
46. 2026-06-09
    days on market $254,900 Active 145 DOM
47. 2026-06-08
    days on market $254,900 Active 144 DOM
48. 2026-06-07
    days on market $254,900 Active 143 DOM
49. 2026-06-03
    days on market $254,900 Active 139 DOM
50. 2026-06-02
    days on market $254,900 Active 138 DOM

ⓘ 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: $26,642
• − Mortgage interest: −$15,849
• − Property taxes: −$4,244
• − Insurance: −$1,415
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$8,231
• Taxable loss: −$7,360
• Est. tax savings @ 24.0%: +$1,766
• After-tax cash flow: $-651/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 · 5 photos

Excellent 100/100 None rehab

This single-story new construction home is in excellent condition with no visible repairs or maintenance needed. It offers a modern floor plan, ample living space, and a well-maintained exterior. The highest-ROI updates would be painting the exterior and interior walls, landscaping improvements, and updating kitchen and bathroom fixtures.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Resale Kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Resale Bathroom fixtures — Upgraded fixtures can make bathrooms more appealing to potential buyers and renters. ↑

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary Cypress Cove Elementary School Middle Little Oak Middle School B- LA #19/218 Nat'l #2,699/14,009 High Northshore High School C LA #25/265 Nat'l #4,077/17,239

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

B Composite livability gradescore 70/100

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 · 286,725 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 34,808
• Household income: $89,003
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 25% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 14% Hispanic / Latino 11% Asian 3%
• Common ancestry: Lithuanian 9% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 7% Chinese 1% Vietnamese 1%

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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: ▼ -74.47%
• Current HPI: 151.3353
• Rent YoY: ▲ 1.72%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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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

+0.8% since first listed

2 events — show timeline

• 2026-03-31 Price Changed $254,900 Zillow
• 2026-01-15 Listed $252,900 Zillow