3144 Carey St · Slidell, LA 70458

$162,000

2 bd · 1.0 ba · 1,311 sqft · SingleFamily public records · 17 Days on market

Built 1980 $124/sqft · 18% above area Est $143k · 13% over ↓ 5% since listing

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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 +18.2/30.0
• DSCR +5.7/10.0
• 1% rule +4.5/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bedroom, 1 bath home in a convenient Slidell centrally located to shopping, dining, schools, and everyday amenities. This property offers plenty of potential for a buyer with vision and creativity to transform it into something truly special. Inside, you'll find a fully enclosed sunroom that provides additional living space and endless possibilities for a home office, playroom, hobby room, or relaxing retreat. Outside, the home features a covered carport with an attached storage room, a spacious fenced backyard, and a detached workshop complete with its own covered patio and carport area. Whether you're looking for your next home, an investment opportunity, or a project to make your own, this property offers a solid foundation and room to bring your ideas to life. Don't miss the chance to unlock its full potential.

Key facts

• 3 parking spots
• Built 1980
• Listed 17 days

Property features AI

Finance

• Other: Workshop on the property; Lot dimensions approximately 60 x 120

Exterior

• Parking: Covered carport; Carport; Driveway; Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Brick construction; Shingle roof; Slab foundation; Built in a single story
• Exterior features: Fenced yard; Permeable paving; Outside city limits; Rectangular lot

Interior

• Kitchen: Oven; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Total of 4 rooms; Very good condition
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $162k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (5.4% below list).
• Recommended offer: $153k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 5.9% in Slidell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Glynn H. Brock Elementary School (math 32% / reading 42%, grade F, #251 of 646 statewide, top 41%, 320 students, 79% FRL); St. Tammany Junior High School (math 19% / reading 41%, grade F, #114 of 218 statewide, top 53%, 793 students, 68% FRL); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL) — zoned schools average 70% FRL vs 40% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 49% district-wide (-20 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.5%/yr); 489 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1k of loan paydown is wiped out by about $5k 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 17 days — a 2% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $153,248 (5.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.8

CMA / ARV

• ARV (median comp): $142,875
• List price: $162,000
• Delta: 11.99%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2725 College St	0.42mi	2/1.5	1,278 (-2%)	1mo	$179,000	$140	74
241 Jacob Dr	0.19mi	2/2.0	1,208 (-8%)	2mo	$89,000	$74	72
2872 Slidell Ave	0.47mi	3/1.0 (+1)	1,338 (+2%)	1mo	$139,000	$104	69
328 Hickory Dr	0.45mi	3/1.0 (+1)	1,350 (+3%)	4mo	$137,000	$101	65
3637 Riviera Dr	0.41mi	3/2.0 (+1)	1,200 (-8%)	2mo	$138,000	$115	56
808 Pine Tree St	0.65mi	2/2.0	1,241 (-5%)	7mo	$145,000	$117	51
176 Southpark Dr	0.38mi	3/2.0 (+1)	1,442 (+10%)	8mo	$170,000	$118	50
2731 Harris Ave	0.70mi	2/1.0	1,172 (-11%)	2mo	$100,000	$85	49
931 Hailey Ave	0.59mi	3/2.0 (+1)	1,445 (+10%)	2mo	$141,000	$98	44
2651 2nd St	0.58mi	3/2.0 (+1)	1,184 (-10%)	4mo	$175,000	$148	44
471 Olive Dr	0.72mi	3/2.0 (+1)	1,238 (-6%)	6mo	$150,000	$121	43
3844 Riviera Dr	0.68mi	3/1.5 (+1)	1,466 (+12%)	6mo	$150,000	$102	37

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-19,309
• Equity at exit: $24,155

10-year hold

• IRR: -5.1%
• Equity multiple: 0.69×
• Total profit: $-14,158
• Equity at exit: $14,007

Cash invested: $45,360 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,532 high
• Mortgage (P&I): −$850
• Tax from tax record: −$148 /mo · $1,776/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $146

Break-even live

Break-even rent $1,348

Max offer price $162,000

Occupancy floor 86%

Sensitivity live

Price	-10% $237	-5% $192	+0% $146	+5% $100	+10% $54
Rent	-10% $25	-5% $85	+0% $146	+5% $206	+10% $267
Rate	-1.0pp $227	-0.5pp $187	base $146	+0.5pp $104	+1.0pp $61

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3152 College St Slidell, LA	3.0	1.0	1373	$1,750	$1.27	45d	1	0.06mi
2864 Slidell Ave Slidell, LA	3.0	1.0	963	$1,395	$1.45	5d	1	0.47mi
2594 Front St Unit 2 Slidell, LA	1.0	1.0	1200	$1,450	$1.21	16d	1	0.58mi
110 Canulette Rd #12 Slidell, LA	1.0	1.0	1300	$1,000	$0.77	23d	1	0.62mi
901 Old Spanish Trl Slidell, LA	2.0	1.5	1070	$1,120	$1.05	13d	1	0.72mi
3839 Oxford St Slidell, LA	3.0	2.0	1660	$1,700	$1.02	45d	1	0.74mi
3304 Bridge Dr Slidell, LA	3.0	2.0	1250	$1,700	$1.36	45d	1	0.76mi
3159 Dee St Slidell, LA	3.0	1.0	898	$1,400	$1.56	45d	1	0.76mi
96 Chamale Cv Slidell, LA	2.0	2.5	1432	$1,500	$1.05	25d	1	0.98mi
96 Chamale Cv Slidell, LA	3.0	2.5	1432	$1,500	$1.05	45d	1	0.98mi
48 Chamale Cv E Slidell, LA	2.0	2.0	1432	$1,650	$1.15	45d	1	1.01mi
517 Erlanger Ave Unit A Slidell, LA	3.0	2.0	1134	$1,400	$1.23	45d	1	1.11mi
517 Erlanger Ave Unit A Slidell, LA	3.0	2.0	1134	$1,375	$1.21	16d	1	1.11mi
2004 5th St Unit A Slidell, LA	2.0	1.0	900	$1,250	$1.39	25d	1	1.13mi
516 Erlanger Ave Slidell, LA	2.0	2.0	1250	$1,750	$1.40	45d	1	1.14mi
301 Spartan Dr Slidell, LA	1.0–2.0	1.0–2.0	880	$1,502	$1.71	5d	8	1.18mi
102 Spartan Trace Blvd Slidell, LA	3.0	2.0	1516	$2,000	$1.32	25d	1	1.18mi
519 Spartan Dr #9101 Slidell, LA	2.0	2.0	1304	$1,400	$1.07	25d	1	1.28mi
2001 Tenth St Unit B Slidell, LA	3.0	2.0	1137	$1,550	$1.36	19d	1	1.31mi
1303 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	990	$1,588	$1.60	3d	31	1.45mi

Listing history 15 events

1. 2026-06-21
   days on market $162,000 Active 17 DOM
2. 2026-06-18
   days on market $162,000 Active 14 DOM
3. 2026-06-17
   days on market $162,000 Active 13 DOM
4. 2026-06-16
   days on market $162,000 Active 12 DOM
5. 2026-06-15
   days on market $162,000 Active 11 DOM
6. 2026-06-13
   days on market $162,000 Active 9 DOM
7. 2026-06-10
   days on market $162,000 Active 6 DOM
8. 2026-06-09
   days on market $162,000 Active 5 DOM
9. 2026-06-08
   days on market $162,000 Active 4 DOM
10. 2026-06-07
    pricedays on marketlisting id $162,000 Active 3 DOM
11. 2026-06-01
    days on market $160,000 Active 45 DOM
12. 2026-05-31
    days on market $160,000 Active 44 DOM
13. 2026-04-17
    listed $160,000 Active 1188-char remark
14. 2026-04-17
    listed $160,000 Active 1182-char remark
15. 2025-08-29
    listed $170,000 Active

ⓘ 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: $1,776 · $148/mo
• Projected year-2 tax: $1,776 · $148/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: $18,390
• − Mortgage interest: −$9,075
• − Property taxes: −$1,776
• − Insurance: −$810
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$4,713
• Taxable loss: −$925
• Est. tax savings @ 24.0%: +$222
• After-tax cash flow: $1,970/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

-4.7% since first listed

4 events — show timeline

• 2026-06-04 Listed $162,000 AcadianaMLS
• 2026-06-04 Listed $162,000 GSREIN
• 2026-04-17 Listed $160,000 AcadianaMLS
• 2025-08-29 Listed $170,000 AcadianaMLS

Property tax history

+12.8%/yr

Latest (2025): $1,776 · -6.2% YoY. Source: county tax records.