550 Buttonwillow Ct · Mandeville, LA 70448

$350,000

4 bd · 2.0 ba · 2,037 sqft · SingleFamily public records · 246 Days on market

Built 1999 0.27 ac lot $172/sqft · 13% below area Est $401k · 13% under $21/mo HOA · 1% of rent

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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).

• ARV discount +13.3/15.0
• Cash flow +8.2/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

A well built home, with great curb appeal with easy to maintain ceramic tile in main living areas. Excellent natural light all throughout the home. Gas stove and fire place. Fresh paint and a nice screened in porch just out back. Home is a blank slate waiting for you to put your personal touch. Roof is 3 years old.

Key facts

• Screened in porch
• Fire place
• Natural light

Tags

• CERAMIC TILE
• NATURAL LIGHT
• GAS STOVE
• FIRE PLACE
• SCREENED IN PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-327 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (29.7% below list).
• Recommended offer: $246k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.5% in Mandeville — 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 77/100 on livability (#13 in LA, #3,224 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing 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 (+1.1%/yr); 260 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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).
• This rent runs 31% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 246 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $35k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $213k; list at $350k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,056 (29.7% 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 246 days. Have you received any prior offers? Is the seller open to a 30% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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 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: 0.70% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.00%
• DSCR: 0.82
• GRM: 11.9

CMA / ARV

• ARV (median comp): $401,493
• List price: $350,000
• Delta: -12.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 Buttonwillow Ct	0.05mi	4/2.0	2,067 (+2%)	3mo	$425,000	$206	93
732 Monterey Dr	0.14mi	4/2.0	2,016 (-1%)	11mo	$365,000	$181	83
100 Merganser Dr	0.27mi	4/2.0	2,017 (-1%)	5mo	$400,000	$198	82
863 Destin St	0.37mi	3/2.0 (-1)	2,074 (+2%)	7mo	$250,000	$121	69
517 Tanager Dr	0.40mi	3/2.5 (-1)	2,093 (+3%)	2mo	$462,000	$221	68
802 Orient St	0.46mi	3/2.0 (-1)	2,100 (+3%)	2mo	$257,000	$122	67
1208 Molitor St	0.36mi	4/2.0	2,154 (+6%)	9mo	$397,000	$184	66
1617 Dupard St	0.49mi	3/2.0 (-1)	2,000 (-2%)	6mo	$480,000	$240	64
1580 Cherry Ridge Ct	0.51mi	3/2.0 (-1)	2,128 (+4%)	10mo	$360,000	$169	55
1551 Labarre St	0.49mi	3/2.0 (-1)	1,784 (-12%)	2mo	$365,000	$205	49
2321 Cours Carson St	0.66mi	3/2.0 (-1)	1,800 (-12%)	5mo	$384,900	$214	40
1017 Foy St	0.67mi	3/2.0 (-1)	1,773 (-13%)	3mo	$350,000	$197	39

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.16×
• Total profit: $-82,309
• Equity at exit: $52,186

10-year hold

• IRR: -27.7%
• Equity multiple: -0.20×
• Total profit: $-117,307
• Equity at exit: $30,262

Cash invested: $98,000 (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 70448

• Rents YoY: 1.1%
• Active inventory: 260
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,461 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$269 /mo · $3,223/yr
• Insurance: −$146
• HOA: −$21
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $-327

Break-even live

Break-even rent $2,875

Max offer price $292,232

Occupancy floor —

Sensitivity live

Price	-10% $-129	-5% $-228	+0% $-327	+5% $-426	+10% $-525
Rent	-10% $-521	-5% $-424	+0% $-327	+5% $-230	+10% $-133
Rate	-1.0pp $-151	-0.5pp $-238	base $-327	+0.5pp $-418	+1.0pp $-510

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 Dupard St Mandeville, LA	4.0	2.0	1495	$2,200	$1.47	12d	1	0.49mi
817 Norval St Mandeville, LA	3.0	2.0	1518	$1,950	$1.28	44d	1	0.74mi
805 Norval St Mandeville, LA	3.0	2.0	1600	$2,000	$1.25	4d	1	0.75mi
909 Chevreuil St Mandeville, LA	3.0	2.0	1561	$2,300	$1.47	15d	1	1.02mi
129 Mead Ct Mandeville, LA	3.0	2.0	1580	$1,850	$1.17	4d	1	1.04mi
2225 Labarre St Mandeville, LA	4.0	2.5	2100	$4,200	$2.00	4d	1	1.19mi
2304 McNamara St Mandeville, LA	3.0	2.0	1404	$1,900	$1.35	17d	1	1.28mi
426 Lafitte St Mandeville, LA	3.0	2.5	1660	$2,700	$1.63	4d	1	1.43mi

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: gas

Listing history 17 events

1. 2026-06-15
   days on marketlisting id $350,000 Pending 246 DOM
2. 2026-06-13
   statusdays on marketlisting id $350,000 Pending 219 DOM
3. 2026-03-02
   price $350,000
4. 2026-03-02
   price $350,000
5. 2026-03-01
   price $350,000
6. 2025-10-20
   price $370,000
7. 2025-10-20
   price $370,000
8. 2025-10-18
   price $370,000
9. 2025-09-06
   listed $385,000 Active
10. 2025-09-06
    listed $385,000 Active
11. 2012-08-24
    soldstatus $212,850
12. 2012-06-11
    listed $212,850
13. 2012-06-11
    listed $212,850
14. 2012-01-30
    listed $239,900
15. 2012-01-30
    listed $239,900
16. 2012-01-10
    soldstatus $240,186
17. 1998-04-20
    soldstatus $149,500

ⓘ 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: $3,223 · $269/mo
• Projected year-2 tax: $3,223 · $269/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,527
• − Mortgage interest: −$19,605
• − Property taxes: −$3,223
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,362
• − Management: −$2,362
• − HOA: −$252
• − Depreciation: −$10,182
• Taxable loss: −$10,210
• Est. tax savings @ 24.0%: +$2,450
• After-tax cash flow: $-1,474/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

Amenities F Commute F Cost of living C 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: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 26,338
• Household income: $95,682
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 320.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 16% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -113.97%
• Current HPI: 179.9084
• Rent YoY: ▲ 1.06%
• 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

+134.1% since first listed

15 events — show timeline

• 2026-03-02 Price Changed $350,000 AcadianaMLS
• 2026-03-02 Price Changed $350,000 GSREIN
• 2026-03-01 Price Changed $350,000 AcadianaMLS
• 2025-10-20 Price Changed $370,000 AcadianaMLS
• 2025-10-20 Price Changed $370,000 GSREIN
• 2025-10-18 Price Changed $370,000 AcadianaMLS
• 2025-09-06 Listed $385,000 AcadianaMLS
• 2025-09-06 Listed $385,000 AcadianaMLS
• 2012-08-24 Sold (MLS) $212,850 GSREIN
• 2012-06-11 Listed $212,850 AcadianaMLS
• 2012-06-11 Listed $212,850 GSREIN
• 2012-01-30 Listed $239,900 GSREIN
• 2012-01-30 Listed $239,900 AcadianaMLS
• 2012-01-10 Sold (Public Records) $240,186 Public Records
• 1998-04-20 Sold (Public Records) $149,500 Public Records

Property tax history

+1.1%/yr

Latest (2025): $3,223 · -3.5% YoY. Source: county tax records.