Sullivan Plan · Slidell, LA 70461

$214,900

4 bd · 2.0 ba · 1,425 sqft · SingleFamily · 844 Days on market

Excellent condition ↓ 2% 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 +14.5/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Sullivan is one of our cottage homes in Lakeshore Villages, a new home community in Slidell, Louisiana. The Sullivan offers 2 different elevations with 4 bedrooms and 2 bathrooms at 1,425 square feet! As you walk into the home, you'll be greeted by three bedrooms along with the guest bathroom. Walking down the foyer, you'll see the storage room, another closet, and laundry room before reaching the open concept living space. The kitchen comes fully equipped with stainless-steel Whirlpool appliances, granite countertops, stove, microwave hood, dishwasher, and plenty of space for a table, never too far from the action. Every Sullivan includes our smart home package, featuring a video doorbell, smart light switches, a home hub, and more! Each bedroom is equipped with cozy carpeting and a convenient closet. Whether you need a space for entertainment, storage, hosting guests, relaxation, or fitness activities, you can count on feeling comfortable and content. The primary bedroom is in the rear of the home and has its own en suite. The primary bathroom features a double vanity with a tub/shower combo, large walk-in closet, and a separate linen closet. Experience the ideal mix of cozy and functional at Lakeshore Villages! Book a tour now and see for yourself.

Key facts

• Listed 843 days

🏗️ New construction. The $214,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $249,900.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $53 ($640/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.

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: W.L. Abney Elementary School (math 31% / reading 38%, grade F, #284 of 646 statewide, top 46%, 1,094 students, 70% 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 67% FRL vs 40% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% 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 (+1.7%/yr); 690 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• This rent runs 30% of the median local income ($89k/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 $7k 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 844 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Recommended offer $189,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 844 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. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $249,900
• List price: $214,900
• Delta: -14.01%
• 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
5481 Fornea Glen Way	0.06mi	3/2.0 (-1)	1,405 (-1%)	3mo	$224,900	$160	88
5429 Fornea Glen Way	0.06mi	3/2.0 (-1)	1,405 (-1%)	4mo	$236,900	$169	87
5473 Fornea Glen Way	0.06mi	3/2.0 (-1)	1,405 (-1%)	5mo	$225,990	$161	86
5433 Fornea Glen Way	0.06mi	4/2.0	1,612 (+13%)	1mo	$251,900	$156	75
5421 Fornea Glen Way	0.06mi	4/2.0	1,612 (+13%)	1mo	$249,900	$155	75
5441 Fornea Glen Way	0.06mi	4/2.0	1,612 (+13%)	2mo	$249,900	$155	74
5472 Fornea Glen Way	0.06mi	4/2.0	1,612 (+13%)	4mo	$256,005	$159	72
5460 Fornea Glen Way	0.06mi	4/2.0	1,612 (+13%)	6mo	$244,900	$152	71
4778 Cotton Grass Dr	0.71mi	4/2.0	1,425 (0%)	2mo	$216,900	$152	65
4786 Cotton Grass Dr	0.73mi	4/2.0	1,425 (0%)	1mo	$216,900	$152	65
3381 Bellwick Bay Dr	0.67mi	4/2.0	1,610 (+13%)	3mo	$239,900	$149	44
3435 Tide Wind Dr	0.74mi	4/2.0	1,585 (+11%)	6mo	$235,000	$148	42

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: -16.3%
• Equity multiple: 0.43×
• Total profit: $-39,927
• Equity at exit: $37,261

10-year hold

• IRR: -10.4%
• Equity multiple: 0.40×
• Total profit: $-41,714
• Equity at exit: $21,607

Cash invested: $69,972 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 46 active · 27 under contract
• Months of supply: 7.7 mo (13%/mo absorbed)
• Median asking: $235,900 ($164/sqft)
• Median days on market: 103 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: +6.7% 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: 7.9×

Monthly cashflow live

• Estimated rent: $2,254 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $53

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 93%

Sensitivity live

Price	-10% $226	-5% $140	+0% $53	+5% $-33	+10% $-119
Rent	-10% $-125	-5% $-36	+0% $53	+5% $142	+10% $231
Rate	-1.0pp $179	-0.5pp $117	base $53	+0.5pp $-11	+1.0pp $-77

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: $62,475
• Closing costs: $7,497
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,610	$1.65	11d	13	0.52mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,610	$1.70	93d	1	0.52mi
3616 Spruce Key Ln Slidell, LA	3.0	2.0	1635	$2,395	$1.46	16d	1	0.54mi
5579 Grand Springs Rd Slidell, LA	4.0	2.0	1867	$2,200	$1.18	93d	1	0.59mi
7535 1st Lake Dr Slidell, LA	3.0	2.0	1564	$2,195	$1.40	34d	1	0.69mi
7535 1st Lake Dr Slidell, LA	3.0	2.0	1564	$2,195	$1.40	66d	1	0.69mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,550	$1.37	11d	1	0.74mi
5265 Summer Pecan Rd Slidell, LA	4.0	2.0	1647	$2,200	$1.34	17d	1	0.80mi
7472 1st Lake Dr Slidell, LA	3.0	2.0	1298	$2,000	$1.54	20d	1	0.82mi
541 New Basin Rd Slidell, LA	3.0	2.0	1447	$2,250	$1.55	41d	1	0.82mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,539	$1.38	11d	1	0.87mi
713 Lakeshore Vlg E Slidell, LA	3.0	2.0	1563	$2,100	$1.34	93d	1	0.88mi
408 Lakeshore Vlg E Slidell, LA	3.0	2.0	1785	$2,395	$1.34	46d	1	1.05mi
100 Marina Dr Unit 100 Slidell, LA	3.0	3.0	1850	$1,925	$1.04	52d	1	1.26mi
870 Marina Dr Unit B Slidell, LA	3.0	2.5	1700	$2,050	$1.21	41d	1	1.41mi
870 Marina Dr Unit A Slidell, LA	3.0	2.5	1600	$1,950	$1.22	52d	1	1.42mi

Listing history 50 events

1. 2026-08-08
   days on market $214,900 Active 844 DOM
2. 2026-08-07
   days on market $214,900 Active 843 DOM
3. 2026-08-06
   days on market $214,900 Active 842 DOM
4. 2026-08-05
   days on market $214,900 Active 841 DOM
5. 2026-08-04
   days on market $214,900 Active 840 DOM
6. 2026-08-03
   days on market $214,900 Active 839 DOM
7. 2026-07-31
   days on market $214,900 Active 836 DOM
8. 2026-07-30
   days on market $214,900 Active 834 DOM
9. 2026-07-28
   days on market $214,900 Active 833 DOM
10. 2026-07-26
    days on market $214,900 Active 831 DOM
11. 2026-07-24
    days on market $214,900 Active 829 DOM
12. 2026-07-23
    days on market $214,900 Active 828 DOM
13. 2026-07-22
    days on market $214,900 Active 827 DOM
14. 2026-07-21
    days on market $214,900 Active 826 DOM
15. 2026-07-20
    days on market $214,900 Active 825 DOM
16. 2026-07-18
    days on market $214,900 Active 823 DOM
17. 2026-07-18
    days on market $214,900 Active 822 DOM
18. 2026-07-16
    days on market $214,900 Active 821 DOM
19. 2026-07-15
    days on market $214,900 Active 820 DOM
20. 2026-07-14
    days on market $214,900 Active 819 DOM
21. 2026-07-13
    days on market $214,900 Active 818 DOM
22. 2026-07-13
    days on market $214,900 Active 817 DOM
23. 2026-07-11
    days on market $214,900 Active 816 DOM
24. 2026-07-10
    days on market $214,900 Active 815 DOM
25. 2026-07-09
    days on market $214,900 Active 814 DOM
26. 2026-07-07
    days on market $214,900 Active 812 DOM
27. 2026-07-06
    days on market $214,900 Active 811 DOM
28. 2026-07-05
    days on market $214,900 Active 810 DOM
29. 2026-07-03
    days on market $214,900 Active 808 DOM
30. 2026-07-02
    days on market $214,900 Active 807 DOM
31. 2026-07-01
    days on market $214,900 Active 806 DOM
32. 2026-06-30
    days on market $214,900 Active 805 DOM
33. 2026-06-29
    days on market $214,900 Active 804 DOM
34. 2026-06-28
    days on market $214,900 Active 803 DOM
35. 2026-06-27
    days on market $214,900 Active 802 DOM
36. 2026-06-27
    days on market $214,900 Active 801 DOM
37. 2026-06-25
    days on market $214,900 Active 799 DOM
38. 2026-06-22
    days on market $214,900 Active 797 DOM
39. 2026-06-21
    days on market $214,900 Active 796 DOM
40. 2026-06-18
    days on market $214,900 Active 793 DOM
41. 2026-06-17
    days on market $214,900 Active 792 DOM
42. 2026-06-16
    days on market $214,900 Active 791 DOM
43. 2026-06-15
    days on market $214,900 Active 790 DOM
44. 2026-06-13
    days on market $214,900 Active 788 DOM
45. 2026-06-10
    days on market $214,900 Active 785 DOM
46. 2026-06-09
    days on market $214,900 Active 784 DOM
47. 2026-06-08
    days on market $214,900 Active 783 DOM
48. 2026-06-07
    days on market $214,900 Active 782 DOM
49. 2026-06-03
    days on market $214,900 Active 778 DOM
50. 2026-06-02
    days on market $214,900 Active 777 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: $27,044
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,163
• − Management: −$2,163
• − Depreciation: −$7,270
• Taxable loss: −$3,549
• Est. tax savings @ 24.0%: +$852
• After-tax cash flow: $1,492/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 · 12 photos

Excellent 100/100 None rehab

This home is in excellent condition with a modern and well-maintained interior and exterior. It is move-in ready and would benefit from minor updates to enhance its curb appeal and functionality.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants. ↑

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Abney Elementary Early Childhood Center Middle St. Tammany Junior High School F LA #114/218 Nat'l #8,861/14,009 High Salmen High School F LA #179/265 Nat'l #13,947/17,239

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

-2.3% since first listed

2 events — show timeline

• 2025-09-13 Price Changed $214,900 Zillow
• 2024-04-16 Listed $219,900 Zillow