5168 Spillway Manor Dr · Slidell, LA 70461

$280,870

4 bd · 2.0 ba · 1,819 sqft · SingleFamily · 95 Days on market

Built 2026 Good condition 6,316 sqft lot $154/sqft · at area comps Est $282k · at est. $62/mo HOA · 3% 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).

• Cash flow +10.7/30.0
• ARV discount +7.7/15.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• DSCR +3.1/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

Key facts

• Ample counter space
• Walk-in closet
• En suite

Tags

• OPEN-CONCEPT FLOOR PLAN
• STAINLESS STEEL EQUIPMENT
• LARGE ISLAND
• AMPLE COUNTER SPACE
• WALK-IN CLOSET
• EN SUITE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $281k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (15.7% below list).
• Recommended offer: $237k (15.7% 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.
• Market conditions: Rents rising (+1.7%/yr); 589 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• This rent runs 32% 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 $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 95 days — a 9% lower offer ($256k) 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 $236,759 (15.7% 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 95 days. Have you received any prior offers? Is the seller open to a 16% 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 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 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: 0.84% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 9.9

CMA / ARV

• ARV (median comp): $282,403
• List price: $280,870
• Delta: -0.54%
• 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
5164 Spillway Manor Dr	0.01mi	4/2.0	1,819 (0%)	1mo	$273,900	$151	99
5169 Spillway Manor Dr	0.02mi	4/2.0	1,819 (0%)	1mo	$273,900	$151	98
5148 Spillway Manor Dr	0.05mi	4/2.0	1,819 (0%)	3mo	$269,900	$148	95
5161 Spillway Manor Dr	0.03mi	4/2.0	2,051 (+13%)	2mo	$283,900	$138	76
3311 Tide Wind Dr	0.06mi	4/2.0	2,051 (+13%)	1mo	$297,900	$145	75
5144 Spillway Manor Dr	0.06mi	4/2.0	1,562 (-14%)	2mo	$259,900	$166	72
5152 Spillway Manor Dr	0.04mi	5/3.0 (+1)	2,016 (+11%)	3mo	$294,900	$146	69
5132 Spillway Manor Dr	0.09mi	5/3.0 (+1)	2,016 (+11%)	1mo	$296,795	$147	67
5156 Spillway Manor Dr	0.03mi	3/2.0 (-1)	1,549 (-15%)	2mo	$259,900	$168	67
3295 Tide Wind Dr	0.15mi	3/2.0 (-1)	1,549 (-15%)	1mo	$268,900	$174	63
253 E Lake Dr	0.65mi	3/2.0 (-1)	1,781 (-2%)	2mo	$245,000	$138	60
949 Channel Bend Ct	0.74mi	3/2.5 (-1)	1,644 (-10%)	2mo	$262,181	$159	41

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: -21.1%
• Equity multiple: 0.28×
• Total profit: $-56,898
• Equity at exit: $41,879

10-year hold

• IRR: -17.8%
• Equity multiple: 0.08×
• Total profit: $-72,164
• Equity at exit: $24,285

Cash invested: $78,644 (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: 589
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,368 high
• Mortgage (P&I): −$1,473
• Tax est. 1.5%: −$351 /mo · $4,213/yr
• Insurance: −$117
• HOA: −$62
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-133

Break-even live

Break-even rent $2,535

Max offer price $261,678

Occupancy floor —

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: $70,218
• Closing costs: $8,426
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5265 Summer Pecan Rd Slidell, LA	4.0	2.0	1647	$2,300	$1.40	2d	1	0.12mi
5225 Summer Pecan Rd Slidell, LA	4.0	2.0	2079	$2,300	$1.11	23d	1	0.16mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,510	$1.58	1d	14	0.42mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,610	$1.70	44d	1	0.42mi
3616 Spruce Key Ln Slidell, LA	3.0	2.0	1635	$2,395	$1.46	1d	1	0.43mi
408 Lakeshore Vlg E Slidell, LA	3.0	2.0	1785	$2,395	$1.34	11d	1	0.53mi
109 Oak Landing Ln Slidell, LA	4.0	2.0	1884	$2,350	$1.25	17d	1	0.55mi
479 Lakeshore Vlg E Slidell, LA	4.0	2.0	1893	$2,400	$1.27	23d	1	0.59mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,699	$1.50	1d	1	0.71mi
5169 Clarkston Grove Dr Slidell, LA	4.0	3.0	2107	$2,250	$1.07	17d	1	0.80mi
5579 Grand Springs Rd Slidell, LA	4.0	2.0	1867	$2,200	$1.18	43d	1	0.80mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	43d	1	0.80mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	23d	1	0.80mi
5916 Honey Glade Rd Slidell, LA	4.0	2.0	2290	$2,600	$1.14	17d	1	0.82mi
7535 1st Lake Dr Slidell, LA	3.0	2.0	1564	$2,195	$1.40	17d	1	0.91mi
3635 Trestle Crossing Ave Slidell, LA	4.0	3.0	2208	$2,600	$1.18	43d	1	0.93mi
713 Lakeshore Vlg E Slidell, LA	3.0	2.0	1563	$2,100	$1.34	43d	1	1.05mi
25 Oak Tree Dr Slidell, LA	4.0	2.5	2530	$2,900	$1.15	1d	1	1.42mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,539	$1.38	1d	1	1.44mi

HOA detail

• Monthly dues: $62 · $744/yr

Listing history 10 events

1. 2026-05-07
   status Pending 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

2. 2026-05-07
   status Pending 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

3. 2026-04-27
   status Active 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

4. 2026-04-27
   status Active 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

5. 2026-04-27
   price $280,870 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

6. 2026-04-25
   status Pending 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

7. 2026-04-24
   status Pending 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

8. 2026-04-24
   price $280,870 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

9. 2026-01-29
   listed $279,900 Active 562-char remark

   Show marketing remark (562 chars)

   Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

10. 2026-01-29
    listed $279,900 Active 562-char remark

    Show marketing remark (562 chars)

    Welcome to the Cameron Model is a four-bedroom, two-bathroom, two-car garage home is ideal for anyone. The open-concept floor plan allows you to easily move between the living room, dining room, and kitchen, making it perfect for entertaining guests or spending time with family. The kitchen features stainless steel equipment, a large island, and ample counter space. The spacious primary suite, which is near the kitchen, boasts a walk-in closet and an en suite. This split floorplan has two other bedrooms and shared bathroom access in the front of the house.

ⓘ 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: $28,411
• − Mortgage interest: −$15,733
• − Property taxes: −$4,213
• − Insurance: −$1,404
• − Repairs & maintenance: −$2,273
• − Management: −$2,273
• − HOA: −$744
• − Depreciation: −$8,171
• Taxable loss: −$6,400
• Est. tax savings @ 24.0%: +$1,536
• After-tax cash flow: $-56/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 · 3 photos

Good 80/100 Cosmetic rehab

This four-bedroom, two-bathroom home is in excellent condition with a good condition score of 80. It is move-in ready with minimal maintenance required, making it an ideal investment for both resale and rental purposes.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value.
• Rental HVAC maintenance — Ensures comfort and reduces utility costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value. ↑
• Rental HVAC maintenance — Ensures comfort and reduces utility costs for tenants. ↑

ⓘ 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

+0.3% since first listed

10 events — show timeline

• 2026-05-07 Pending — AcadianaMLS
• 2026-05-07 Pending — GSREIN
• 2026-04-27 Relisted — AcadianaMLS
• 2026-04-27 Relisted — GSREIN
• 2026-04-27 Price Changed $280,870 AcadianaMLS
• 2026-04-25 Pending — AcadianaMLS
• 2026-04-24 Pending — GSREIN
• 2026-04-24 Price Changed $280,870 GSREIN
• 2026-01-29 Listed $279,900 GSREIN
• 2026-01-29 Listed $279,900 AcadianaMLS