Cherry Plan · Slidell, LA 70461

$227,900

3 bd · 2.0 ba · 1,392 sqft · SingleFamily · 103 Days on market

Excellent condition

---

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 +9.1/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Introducing The Cherry, a beautifully designed single-story new construction home offering 4 bedrooms, 2 bathrooms, and a 1-car garage across 1,392 square feet of functional living space. This thoughtful layout is perfect for families, first-time homebuyers, and those seeking a smart, efficient floor plan in Lakeshore villages, Slidell, La. Step inside from the welcoming front porch into a bright foyer that leads you toward the heart of the home. The Cherry features an open-concept living, dining, and kitchen area, creating a comfortable and inviting space for daily living and entertaining. The modern kitchen includes a spacious island overlooking the living room, a walk-in pantry, and easy access to the dining area. Homebuyers will appreciate the stainless steel appliances-including stove, microwave hood, and dishwasher-paired with beautiful 3 cm granite countertops throughout, combining style, durability, and functionality. The primary bedroom suite, conveniently located toward the rear of the home, offers a peaceful retreat with a large walk-in closet and a well-appointed private bathroom featuring dual sinks and linen storage. Three additional bedrooms are thoughtfully placed near the front of the home, along with a secondary full bathroom, providing flexibility for children, guests, a home office, or hobby space. A covered back patio extends your living area outdoors, ideal for morning coffee, weekend grilling, or evening relaxation. With its smart layout, efficie

Key facts

• Open concept living
• Modern kitchen
• Granite countertops

Tags

• NEW CONSTRUCTION HOME
• OPEN CONCEPT LIVING
• MODERN KITCHEN
• WALK IN PANTRY
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS

🏗️ New construction. The $227,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $249,985.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $228k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (14.7% below list).
• Recommended offer: $194k (14.7% 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: 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); 594 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $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 103 days — a 9% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Recommended offer $194,456 (14.7% 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 103 days. Have you received any prior offers? Is the seller open to a 15% 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: 5.37%
• Cash-on-cash: -3.28%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (median comp): $249,985
• List price: $227,900
• Delta: -8.83%
• 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
5481 Fornea Glen Way	0.06mi	3/2.0	1,405 (+1%)	1mo	$224,900	$160	95
5429 Fornea Glen Way	0.06mi	3/2.0	1,405 (+1%)	2mo	$236,900	$169	94
5473 Fornea Glen Way	0.06mi	3/2.0	1,405 (+1%)	4mo	$225,990	$161	93
5465 Fornea Glen Way	0.06mi	3/2.0	1,405 (+1%)	6mo	$224,900	$160	91
5461 Fornea Glen Way	0.06mi	3/2.0	1,405 (+1%)	6mo	$224,900	$160	91
3947 Seagull Cir	0.55mi	4/2.0 (+1)	1,425 (+2%)	7mo	$211,900	$149	60
4778 Cotton Grass Dr	0.71mi	4/2.0 (+1)	1,425 (+2%)	1mo	$216,900	$152	57
3846 Seagull Cir	0.69mi	3/2.0	1,188 (-15%)	9mo	$198,900	$167	36
3839 Seagull Cir	0.69mi	3/2.0	1,188 (-15%)	10mo	$198,900	$167	35
3835 Seagull Cir	0.70mi	3/2.0	1,188 (-15%)	10mo	$192,525	$162	35
3804 Seagull Cir	0.74mi	3/2.0	1,188 (-15%)	8mo	$202,525	$170	35
3435 Tide Wind Dr	0.74mi	4/2.0 (+1)	1,585 (+14%)	4mo	$235,000	$148	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: -23.2%
• Equity multiple: 0.21×
• Total profit: $-55,141
• Equity at exit: $37,274

10-year hold

• IRR: -21.6%
• Equity multiple: -0.05×
• Total profit: $-73,482
• Equity at exit: $21,614

Cash invested: $69,996 (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 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 594
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,945 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-191

Break-even live

Break-even rent $2,187

Max offer price $222,291

Occupancy floor —

Sensitivity live

Price	-10% $-19	-5% $-105	+0% $-191	+5% $-278	+10% $-364
Rent	-10% $-345	-5% $-268	+0% $-191	+5% $-115	+10% $-38
Rate	-1.0pp $-65	-0.5pp $-128	base $-191	+0.5pp $-256	+1.0pp $-322

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: $62,496
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,150	$1.40	46d	1	0.52mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,195	$1.38	3d	14	0.52mi
3616 Spruce Key Ln Slidell, LA	3.0	2.0	1635	$2,395	$1.46	3d	1	0.54mi
5579 Grand Springs Rd Slidell, LA	4.0	2.0	1867	$2,200	$1.18	45d	1	0.59mi
7535 1st Lake Dr Slidell, LA	3.0	2.0	1564	$2,195	$1.40	19d	1	0.69mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,499	$1.32	3d	1	0.74mi
5265 Summer Pecan Rd Slidell, LA	4.0	2.0	1647	$2,300	$1.40	4d	1	0.80mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,373	$1.23	3d	1	0.87mi
713 Lakeshore Vlg E Slidell, LA	3.0	2.0	1563	$2,100	$1.34	45d	1	0.88mi
3500 Oak Harbor Blvd Slidell, LA	1.0–2.0	1.0–2.0	880	$1,385	$1.57	3d	9	0.94mi
408 Lakeshore Vlg E Slidell, LA	3.0	2.0	1785	$2,395	$1.34	13d	1	1.05mi
3900 Lakeshore Blvd E Unit 233 Slidell, LA	2.0	2.0	1219	$1,690	$1.39	18d	1	1.11mi
3900 Lakeshore Blvd E Slidell, LA	2.0	2.0	1219	$1,755	$1.44	4d	2	1.14mi
3900 Lakeshore Blvd E #125 Slidell, LA	2.0	2.0	1219	$1,670	$1.37	45d	1	1.14mi
3900 Lakeshore Blvd E Slidell, LA	2.0	2.0	1219	$1,755	$1.44	3d	1	1.14mi
100 Marina Dr Unit 100 Slidell, LA	3.0	3.0	1850	$1,925	$1.04	5d	1	1.26mi
224 Marina Dr Slidell, LA	2.0	1.5	1287	$1,400	$1.09	45d	1	1.26mi
232 Marina Dr Slidell, LA	2.0	1.5	1250	$1,500	$1.20	45d	1	1.26mi
152 Marina Dr Slidell, LA	2.0	2.0	1250	$1,400	$1.12	22d	1	1.27mi
820 Marina Dr #304 Slidell, LA	2.0	2.0	1100	$1,450	$1.32	25d	1	1.39mi
870 Marina Dr Unit B Slidell, LA	3.0	2.5	1700	$2,000	$1.18	45d	1	1.41mi
870 Marina Dr Unit A Slidell, LA	3.0	2.5	1600	$1,950	$1.22	5d	1	1.42mi
519 Spartan Dr #9101 Slidell, LA	2.0	2.0	1304	$1,400	$1.07	25d	1	1.46mi

Listing history 15 events

1. 2026-06-21
   days on market $227,900 Active 103 DOM
2. 2026-06-18
   days on market $227,900 Active 100 DOM
3. 2026-06-17
   days on market $227,900 Active 99 DOM
4. 2026-06-16
   days on market $227,900 Active 98 DOM
5. 2026-06-15
   days on market $227,900 Active 97 DOM
6. 2026-06-13
   days on market $227,900 Active 95 DOM
7. 2026-06-10
   days on market $227,900 Active 92 DOM
8. 2026-06-09
   days on market $227,900 Active 91 DOM
9. 2026-06-08
   days on market $227,900 Active 90 DOM
10. 2026-06-07
    days on market $227,900 Active 89 DOM
11. 2026-06-03
    days on market $227,900 Active 85 DOM
12. 2026-06-02
    days on market $227,900 Active 84 DOM
13. 2026-06-01
    days on market $227,900 Active 83 DOM
14. 2026-05-31
    days on market $227,900 Active 82 DOM
15. 2026-03-10
    listed $227,900 Active 1493-char remark

    Show marketing remark (1493 chars)

    Introducing The Cherry, a beautifully designed single-story new construction home offering 4 bedrooms, 2 bathrooms, and a 1-car garage across 1,392 square feet of functional living space. This thoughtful layout is perfect for families, first-time homebuyers, and those seeking a smart, efficient floor plan in Lakeshore villages, Slidell, La. Step inside from the welcoming front porch into a bright foyer that leads you toward the heart of the home. The Cherry features an open-concept living, dining, and kitchen area, creating a comfortable and inviting space for daily living and entertaining. The modern kitchen includes a spacious island overlooking the living room, a walk-in pantry, and easy access to the dining area. Homebuyers will appreciate the stainless steel appliances-including stove, microwave hood, and dishwasher-paired with beautiful 3 cm granite countertops throughout, combining style, durability, and functionality. The primary bedroom suite, conveniently located toward the rear of the home, offers a peaceful retreat with a large walk-in closet and a well-appointed private bathroom featuring dual sinks and linen storage. Three additional bedrooms are thoughtfully placed near the front of the home, along with a secondary full bathroom, providing flexibility for children, guests, a home office, or hobby space. A covered back patio extends your living area outdoors, ideal for morning coffee, weekend grilling, or evening relaxation. With its smart layout, efficie

ⓘ 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: $23,335
• − Mortgage interest: −$14,003
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$7,272
• Taxable loss: −$6,674
• Est. tax savings @ 24.0%: +$1,602
• After-tax cash flow: $-695/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 · 1 photo

Excellent 100/100 None rehab

This beautifully designed single-story home is in excellent condition with no visible repairs or maintenance needed. It offers a smart, efficient floor plan and is move-in ready.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Add smart home features — Improves functionality and appeal to modern buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Add smart home features — Improves functionality and appeal to modern buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Saint Tammany Parish · 228,296 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: 328.0

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: 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%

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

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

1 event — show timeline

• 2026-03-10 Listed $227,900 Zillow