350 Emerald Forest Blvd #7203 · Covington, LA 70433

$107,500

1 bd · 1.0 ba · 739 sqft · Condo public records · 60 Days on market

Built 2021 $145/sqft · 15% below area Est $133k · 19% under $540/mo HOA · 42% of rent ↓ 7% since listing

---

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 +15.0/15.0
• 1% rule +7.0/10.0
• Cash flow +5.6/30.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Northshore condominium is move in ready in Covington. Emerald Forest Condominiums is located about 10 minutes to the Causeway Bridge, minutes to shopping, dining and I-12. Come inside to #7203, a move in ready 1 bedroom condo in wonderful condition. This 2nd story corner view Condo is in building 7 which has the most stunning views of the serene swimming pool from your private balcony. The corner unit lets in the best natural lighting from the large windows. The kitchen has new granite counter tops, new stainless steel sink and faucet. The stainless steel dishwasher and electric stove are brand are brand new. Other appliances are included in the sale: refrigerator, microwave, washer and dryer. The bedroom and bathroom has new flooring. In 2025, the complete air condition and heater system was replaced. You will feel like you are in a retreat living at Emerald Forest. The security front gates are closed in the evenings, allowing residents to enter via their private code giving them peace of mind. The HOA is responsible for all of the landscaping, ground maintenance, pool maintenance, exercise room in the front building. there is also a dog walking area. There is a dog park off grounds a few minutes drive from Emerald Forest .The HOA also handles all of the condo's exterior repairs and upkeep including the roof and termite treatment. Water is included also in the HOA fee of $540 per month. There is no gas service. Emerald Forest Condominiums is high and dry. It has never flooded. Call agent for your private showing.

Key facts

• Natural lighting
• Private balcony
• Exercise room

Tags

• PRIVATE BALCONY
• NATURAL LIGHTING
• NEW FLOORING
• SECURITY FRONT GATES
• EXERCISE ROOM

Property features AI

Finance

• Other: Pets allowed: cats and dogs (with pet restrictions); Total units in community: 180
• HOA & community: Association: Emerald Forest; Association fee includes common areas and water; Association amenities: clubhouse; Community features: common grounds and pool; Association fee listed (amount not shown due to financial data exclusion)

Exterior

• Parking: Parking available in a parking lot
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Condo; 2-story building; Entry level information not specified; Property condition listed as excellent
• Construction: Built with brick, hardboard and stucco; Shingle roof; Slab foundation; Renovations: new stainless steel dishwasher and electric stove (2026); new flooring in bedroom and bathroom (2026)
• Exterior features: Balcony; Community in-ground pool

Interior

• Kitchen: Stainless steel dishwasher; Stainless steel oven/range; Microwave; Pantry
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning; New AC/heater units (installed 2025)
• Interior features: Ceiling fans; Carbon monoxide detector; Pantry; Stainless steel appliances; Screens on windows
• Laundry & utility: In-unit laundry; Washer hookup; Dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $68k (36.6% below list).
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $68k (36.6% below list) — sets the bar for cash-flow.

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: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% 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) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 530 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $743 of loan paydown is wiped out by about $3k 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 60 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $68,139 (36.6% 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 60 days. Have you received any prior offers? Is the seller open to a 37% 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. 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 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: 1.20% ✓
• Cap rate: 3.81%
• Cash-on-cash: -8.88%
• DSCR: 0.60
• GRM: 7.0

CMA / ARV

• ARV (median comp): $133,318
• List price: $107,500
• Delta: -19.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -28.8%
• Equity multiple: 0.02×
• Total profit: $-29,572
• Equity at exit: $16,029

10-year hold

• IRR: -20.0%
• Equity multiple: -0.18×
• Total profit: $-35,479
• Equity at exit: $9,295

Cash invested: $30,100 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$564
• Tax from tax record: −$89 /mo · $1,072/yr
• Insurance: −$45
• HOA: −$540
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-223

Break-even live

Break-even rent $1,567

Max offer price $68,139

Occupancy floor —

Sensitivity live

Price	-10% $-162	-5% $-192	+0% $-223	+5% $-253	+10% $-284
Rent	-10% $-324	-5% $-274	+0% $-223	+5% $-172	+10% $-121
Rate	-1.0pp $-169	-0.5pp $-195	base $-223	+0.5pp $-251	+1.0pp $-279

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,300	$1.54	13d	2	0.03mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,262	$1.93	3d	12	0.60mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,349	$1.57	4d	18	0.84mi
101 Holiday Square Blvd Covington, LA	1.0	1.0	500	$1,140	$2.28	16d	5	1.16mi
1612 Versailles Business Pkwy Covington, LA	1.0–2.0	1.0–2.0	1009	$1,343	$1.33	4d	31	1.31mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: watergaselectriclandscapingexterior maint.poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $107,500 Active 60 DOM
2. 2026-06-18
   days on market $107,500 Active 57 DOM
3. 2026-06-17
   days on market $107,500 Active 56 DOM
4. 2026-06-16
   days on market $107,500 Active 55 DOM
5. 2026-06-15
   price $107,500 Active 54 DOM
6. 2026-06-15
   days on market $104,000 Active 54 DOM
7. 2026-06-13
   days on market $104,000 Active 52 DOM

   Show marketing remark (1549 chars)

   Beautiful Northshore condominium is move in ready in Covington. Emerald Forest Condominiums is located about 10 minutes to the Causeway Bridge, minutes to shopping, dining and I-12. Come inside to #7203, a move in ready 1 bedroom condo in wonderful condition. This 2nd story corner view Condo is in building 7 which has the most stunning views of the serene swimming pool from your private balcony. The corner unit lets in the best natural lighting from the large windows. The kitchen has new granite counter tops, new stainless steel sink and faucet. The stainless steel dishwasher and electric stove are brand are brand new. Other appliances are included in the sale: refrigerator, microwave, washer and dryer. The bedroom and bathroom has new flooring. In 2025, the complete air condition and heater system was replaced. You will feel like you are in a retreat living at Emerald Forest. The security front gates are closed in the evenings, allowing residents to enter via their private code giving them peace of mind. The HOA is responsible for all of the landscaping, ground maintenance, pool maintenance, exercise room in the front building. there is also a dog walking area. There is a dog park off grounds a few minutes drive from Emerald Forest .The HOA also handles all of the condo's exterior repairs and upkeep including the roof and termite treatment. Water is included also in the HOA fee of $540 per month. There is no gas service. Emerald Forest Condominiums is high and dry. It has never flooded. Call agent for your private showing.

8. 2026-06-10
   days on market $104,000 Active 49 DOM
9. 2026-06-09
   days on market $104,000 Active 48 DOM
10. 2026-06-08
    days on market $104,000 Active 47 DOM
11. 2026-06-07
    days on market $104,000 Active 46 DOM
12. 2026-06-03
    days on market $104,000 Active 42 DOM
13. 2026-06-02
    days on market $104,000 Active 41 DOM
14. 2026-06-01
    days on market $104,000 Active 40 DOM
15. 2026-05-31
    days on market $104,000 Active 39 DOM
16. 2026-05-04
    price $108,000 1401-char remark

    Show marketing remark (1549 chars)

    Beautiful Northshore condominium is move in ready in Covington. Emerald Forest Condominiums is located about 10 minutes to the Causeway Bridge, minutes to shopping, dining and I-12. Come inside to #7203, a move in ready 1 bedroom condo in wonderful condition. This 2nd story corner view Condo is in building 7 which has the most stunning views of the serene swimming pool from your private balcony. The corner unit lets in the best natural lighting from the large windows. The kitchen has new granite counter tops, new stainless steel sink and faucet. The stainless steel dishwasher and electric stove are brand are brand new. Other appliances are included in the sale: refrigerator, microwave, washer and dryer. The bedroom and bathroom has new flooring. In 2025, the complete air condition and heater system was replaced. You will feel like you are in a retreat living at Emerald Forest. The security front gates are closed in the evenings, allowing residents to enter via their private code giving them peace of mind. The HOA is responsible for all of the landscaping, ground maintenance, pool maintenance, exercise room in the front building. there is also a dog walking area. There is a dog park off grounds a few minutes drive from Emerald Forest .The HOA also handles all of the condo's exterior repairs and upkeep including the roof and termite treatment. Water is included also in the HOA fee of $540 per month. There is no gas service. Emerald Forest Condominiums is high and dry. It has never flooded. Call agent for your private showing.

17. 2026-05-04
    price $108,000 1401-char remark

    Show marketing remark (1549 chars)

    Beautiful Northshore condominium is move in ready in Covington. Emerald Forest Condominiums is located about 10 minutes to the Causeway Bridge, minutes to shopping, dining and I-12. Come inside to #7203, a move in ready 1 bedroom condo in wonderful condition. This 2nd story corner view Condo is in building 7 which has the most stunning views of the serene swimming pool from your private balcony. The corner unit lets in the best natural lighting from the large windows. The kitchen has new granite counter tops, new stainless steel sink and faucet. The stainless steel dishwasher and electric stove are brand are brand new. Other appliances are included in the sale: refrigerator, microwave, washer and dryer. The bedroom and bathroom has new flooring. In 2025, the complete air condition and heater system was replaced. You will feel like you are in a retreat living at Emerald Forest. The security front gates are closed in the evenings, allowing residents to enter via their private code giving them peace of mind. The HOA is responsible for all of the landscaping, ground maintenance, pool maintenance, exercise room in the front building. there is also a dog walking area. There is a dog park off grounds a few minutes drive from Emerald Forest .The HOA also handles all of the condo's exterior repairs and upkeep including the roof and termite treatment. Water is included also in the HOA fee of $540 per month. There is no gas service. Emerald Forest Condominiums is high and dry. It has never flooded. Call agent for your private showing.

18. 2026-04-21
    listed $116,000 Active 1401-char remark

    Show marketing remark (1549 chars)

    Beautiful Northshore condominium is move in ready in Covington. Emerald Forest Condominiums is located about 10 minutes to the Causeway Bridge, minutes to shopping, dining and I-12. Come inside to #7203, a move in ready 1 bedroom condo in wonderful condition. This 2nd story corner view Condo is in building 7 which has the most stunning views of the serene swimming pool from your private balcony. The corner unit lets in the best natural lighting from the large windows. The kitchen has new granite counter tops, new stainless steel sink and faucet. The stainless steel dishwasher and electric stove are brand are brand new. Other appliances are included in the sale: refrigerator, microwave, washer and dryer. The bedroom and bathroom has new flooring. In 2025, the complete air condition and heater system was replaced. You will feel like you are in a retreat living at Emerald Forest. The security front gates are closed in the evenings, allowing residents to enter via their private code giving them peace of mind. The HOA is responsible for all of the landscaping, ground maintenance, pool maintenance, exercise room in the front building. there is also a dog walking area. There is a dog park off grounds a few minutes drive from Emerald Forest .The HOA also handles all of the condo's exterior repairs and upkeep including the roof and termite treatment. Water is included also in the HOA fee of $540 per month. There is no gas service. Emerald Forest Condominiums is high and dry. It has never flooded. Call agent for your private showing.

19. 2026-04-21
    listed $116,000 Active 1401-char remark

    Show marketing remark (1549 chars)

    Beautiful Northshore condominium is move in ready in Covington. Emerald Forest Condominiums is located about 10 minutes to the Causeway Bridge, minutes to shopping, dining and I-12. Come inside to #7203, a move in ready 1 bedroom condo in wonderful condition. This 2nd story corner view Condo is in building 7 which has the most stunning views of the serene swimming pool from your private balcony. The corner unit lets in the best natural lighting from the large windows. The kitchen has new granite counter tops, new stainless steel sink and faucet. The stainless steel dishwasher and electric stove are brand are brand new. Other appliances are included in the sale: refrigerator, microwave, washer and dryer. The bedroom and bathroom has new flooring. In 2025, the complete air condition and heater system was replaced. You will feel like you are in a retreat living at Emerald Forest. The security front gates are closed in the evenings, allowing residents to enter via their private code giving them peace of mind. The HOA is responsible for all of the landscaping, ground maintenance, pool maintenance, exercise room in the front building. there is also a dog walking area. There is a dog park off grounds a few minutes drive from Emerald Forest .The HOA also handles all of the condo's exterior repairs and upkeep including the roof and termite treatment. Water is included also in the HOA fee of $540 per month. There is no gas service. Emerald Forest Condominiums is high and dry. It has never flooded. Call agent for your private showing.

ⓘ 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: $1,072 · $89/mo
• Projected year-2 tax: $1,072 · $89/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: $15,419
• − Mortgage interest: −$6,022
• − Property taxes: −$1,072
• − Insurance: −$538
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − HOA: −$6,480
• − Depreciation: −$3,127
• Taxable loss: −$4,287
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $-1,645/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

-7.3% since first listed

8 events — show timeline

• 2026-06-13 Price Changed $107,500 GSREIN
• 2026-06-13 Price Changed $107,500 AcadianaMLS
• 2026-05-22 Price Changed $104,000 AcadianaMLS
• 2026-05-22 Price Changed $104,000 GSREIN
• 2026-05-04 Price Changed $108,000 AcadianaMLS
• 2026-05-04 Price Changed $108,000 GSREIN
• 2026-04-21 Listed $116,000 AcadianaMLS
• 2026-04-21 Listed $116,000 GSREIN

Property tax history

+0.2%/yr

Latest (2021): $1,072 · +0.1% YoY. Source: county tax records.