106 Parkway North Dr #4 · Slidell, LA 70458

$113,750

2 bd · 1.0 ba · 875 sqft · Condo · 34 Days on market

Built 1986 $130/sqft · at area comps Est $116k · at est. $321/mo HOA · 25% 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 +9.6/30.0
• ARV discount +8.5/15.0
• 1% rule +6.5/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income producing unit for sale in Parkway North off Brownswitch. Updated unit with granite countertops and tile floors. Two bedroom, one bath condominium close to Interstate 12. Situated just a few miles away from shopping, dining, and entertainment. Condo fees include master homeowners insurance, master flood insurance, trash, pickup grounds upkeep and lighting.

Key facts

• $321 HOA
• Parking
• Built 1986

Property features AI

Finance

• Other: 48-unit complex; Pets allowed (cats and dogs OK; other pets allowed with restrictions)
• HOA & community: Parkway North Condos association; Association fee approximately $321 (includes common areas)

Exterior

• Parking: Assigned parking in a parking lot; parking available
• Utilities: Public water; Public sewer
• Home design: Single-story; Resale property, renovated (construction dates vary); Shingle roof
• Construction: Vinyl siding; Slab foundation
• Exterior features: Condo setting; Outside city limits; Common grounds/area

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Total of 5 rooms; Average condition
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $-76 ($-914/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (9.7% below list).
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $103k (9.7% below list) — sets the bar for cash-flow.

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 (+1.5%/yr); 489 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $786 of loan paydown is wiped out by about $3k 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 34 days — a 3% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $39k; list at $114k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $102,733 (9.7% 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 34 days. Have you received any prior offers? Is the seller open to a 10% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 5.49%
• Cash-on-cash: -2.87%
• DSCR: 0.87
• GRM: 7.3

CMA / ARV

• ARV (median comp): $116,461
• List price: $113,750
• Delta: -2.33%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.21×
• Total profit: $-25,043
• Equity at exit: $16,960

10-year hold

• IRR: -24.5%
• Equity multiple: -0.10×
• Total profit: $-35,044
• Equity at exit: $9,835

Cash invested: $31,850 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,305 medium
• Mortgage (P&I): −$597
• Tax est. 1.5%: −$142 /mo · $1,706/yr
• Insurance: −$47
• HOA: −$321
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-76

Break-even live

Break-even rent $1,401

Max offer price $102,733

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: $28,438
• Closing costs: $3,412
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Brownswitch Rd Apt 193 Slidell, LA	2.0	1.5	1025	$1,195	$1.17	10d	1	0.09mi
3400 Pelican Pointe Dr #2733 Slidell, LA	1.0	1.0	942	$1,895	$2.01	44d	1	1.02mi
1513 Savannah Dr Slidell, LA	2.0	1.5	1000	$1,150	$1.15	3d	1	1.43mi

HOA detail condo

• Monthly dues: $321 · $3,852/yr
• Likely covers: trashlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $113,750 Active 34 DOM
2. 2026-06-17
   days on market $113,750 Active 33 DOM
3. 2026-06-16
   days on market $113,750 Active 32 DOM
4. 2026-06-15
   days on market $113,750 Active 31 DOM
5. 2026-06-13
   remarks 365-char remark
6. 2026-06-13
   days on market $113,750 Active 29 DOM
7. 2026-06-10
   days on market $113,750 Active 26 DOM
8. 2026-06-09
   days on market $113,750 Active 25 DOM
9. 2026-06-08
   days on market $113,750 Active 24 DOM
10. 2026-06-07
    days on market $113,750 Active 23 DOM
11. 2026-06-03
    days on market $113,750 Active 19 DOM
12. 2026-06-02
    days on market $113,750 Active 18 DOM
13. 2026-06-01
    days on market $113,750 Active 17 DOM
14. 2026-05-31
    days on market $113,750 Active 16 DOM
15. 2026-05-15
    listed $114,000 Active 311-char remark

    Show marketing remark (365 chars)

    Income producing unit for sale in Parkway North off Brownswitch. Updated unit with granite countertops and tile floors. Two bedroom, one bath condominium close to Interstate 12. Situated just a few miles away from shopping, dining, and entertainment. Condo fees include master homeowners insurance, master flood insurance, trash, pickup grounds upkeep and lighting.

16. 2026-05-15
    listed $114,000 Active 311-char remark

    Show marketing remark (365 chars)

    Income producing unit for sale in Parkway North off Brownswitch. Updated unit with granite countertops and tile floors. Two bedroom, one bath condominium close to Interstate 12. Situated just a few miles away from shopping, dining, and entertainment. Condo fees include master homeowners insurance, master flood insurance, trash, pickup grounds upkeep and lighting.

17. 2015-07-10
    soldstatus $39,000 Sold
18. 2015-05-20
    listed $39,900
19. 2015-05-20
    listed $39,900

ⓘ 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: $15,660
• − Mortgage interest: −$6,372
• − Property taxes: −$1,706
• − Insurance: −$569
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − HOA: −$3,852
• − Depreciation: −$3,309
• Taxable loss: −$2,653
• Est. tax savings @ 24.0%: +$637
• After-tax cash flow: $-277/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 — 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): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

+185.1% since first listed

7 events — show timeline

• 2026-05-29 Price Changed $113,750 AcadianaMLS
• 2026-05-29 Price Changed $113,750 GSREIN
• 2026-05-15 Listed $114,000 GSREIN
• 2026-05-15 Listed $114,000 AcadianaMLS
• 2015-07-10 Sold (MLS) $39,000 GSREIN
• 2015-05-20 Listed $39,900 AcadianaMLS
• 2015-05-20 Listed $39,900 GSREIN