59051 Azalea Ln

Slidell, LA 70460

$210,000C-

3 bd · 2.0 ba · 1,457 sqft · Built 2003 · SingleFamily · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,840/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$310
• HOA: −$0
• Vac / Maint / Mgmt: −$386
• Net cashflow: $42/mo
• Annual: $506/yr
• Cap rate: 6.91%
• Cash-on-cash: 2.22%
• DSCR: 1.10
• 1% rule: 0.88%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $42 ($506/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 $184k (12.4% below list).
• It's been on market 80 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (12.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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: Bayou Woods Elementary School (math 52% / reading 47%, grade D, #129 of 646 statewide, top 21%, 432 students, 72% FRL); Slidell Junior High School (math 25% / reading 47%, grade F, #84 of 218 statewide, top 41%, 823 students, 60% FRL); Slidell High School (math 34% / reading 41%, grade F, #93 of 265 statewide, top 36%, 1,883 students, 52% FRL) — zoned schools average 61% FRL vs 40% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising fast (+5.9%/yr); 246 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• St. Tammany County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 15 sale attempts since 23y ago 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.
• Current owner paid $138k; list at $210k implies a 52% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.