Coronado III K Plan · Covington, LA 70435

$365,990

4 bd · 2.0 ba · 2,540 sqft · SingleFamily · 252 Days on market

Good condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +4.0/30.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Coronado III K by DSLD Homes, where energy-efficient design meets stylish, contemporary living. With 2,540 square feet of living space and a total area of 3,303 square feet, this beautifully crafted home offers four bedrooms and two bathrooms, making it an ideal choice for families seeking both comfort and functionality. The open floor plan creates a bright, inviting atmosphere by seamlessly connecting the kitchen, living room, and dining areas. Recessed lighting throughout the kitchen and living spaces adds a modern touch, enhancing the home's design. The walk-in pantry offers ample storage, making it easier to keep your kitchen organized and functional. The owner's suite serves as a relaxing retreat, complete with a double vanity, a garden tub, a separate master shower, and a walk-in master closet, providing a spa-like experience in the comfort of your own home. A boot bench in the mudroom adds convenience, helping you stay organized and manage the flow of everyday life. The pocket office offers a private workspace, perfect for working from home or handling personal tasks in a quiet area. The home's siding exterior delivers a modern, low-maintenance look, while the two-car garage provides plenty of space for parking and storage. Enjoy outdoor living with a covered rear patio, perfect for relaxing or entertaining in comfort. With its energy-efficient systems, the Coronado III K helps reduce utility costs while enhancing your comfort.

Key facts

• Double vanity
• Open floor plan
• Recessed lighting

Tags

• OPEN FLOOR PLAN
• RECESSED LIGHTING
• WALK IN PANTRY
• OWNER'S SUITE
• DOUBLE VANITY
• GARDEN TUB

🏗️ New construction. The $365,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $429,333.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $366k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (30.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (39.3% below list).
• Recommended offer: $222k (39.3% below list) — sets the bar for 1% rule.
• Cap rate 2.9% vs local median 4.0% in Covington — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 75/100 on livability (#17 in LA, #3,876 nationally) — a middle-class / working-renter tenant base. Strengths: employment 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: Covington Elementary School (math 52% / reading 52%, grade C-, #108 of 646 statewide, top 18%, 628 students, 59% FRL); Pine View Middle School (math 20% / reading 37%, grade F, #119 of 218 statewide, top 57%, 635 students, 62% FRL); Covington High School (math 32% / reading 44%, grade F, #90 of 265 statewide, top 34%, 1,660 students, 46% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 503 active listings in the ZIP; solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($81k/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 $3k of loan paydown is wiped out by about $13k 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 252 days — a 12% lower offer ($322k) is reasonable based on typical stale-listing flexibility.

Recommended offer $222,248 (39.3% 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 252 days. Have you received any prior offers? Is the seller open to a 39% 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: 0.52% ✗
• Cap rate: 2.91%
• Cash-on-cash: -12.09%
• DSCR: 0.46
• GRM: 16.1

CMA / ARV

• ARV (median comp): $429,333
• List price: $365,990
• Delta: -14.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
733 Northlake Dr	0.10mi	4/3.0	2,424 (-5%)	0mo	$384,657	$159	84
221 Lakeside Ct	0.16mi	3/2.0 (-1)	2,565 (+1%)	8mo	$565,000	$220	79
621 Ramsey Spring Dr	0.05mi	5/3.0 (+1)	2,720 (+7%)	0mo	$388,755	$143	77
13198 Lake Bend Dr	0.27mi	3/2.5 (-1)	2,669 (+5%)	16mo	$589,000	$221	58
13316 Riverlake Dr	0.38mi	3/2.0 (-1)	2,214 (-13%)	7mo	$340,000	$154	50
14034 S Lakeshore Dr	0.55mi	4/3.0	2,224 (-12%)	10mo	$413,277	$186	41
76021 Green Valley Rd	0.55mi	4/2.5	2,784 (+10%)	22mo	$525,000	$189	38
13603 Riverlake Dr	0.69mi	4/3.5	2,206 (-13%)	5mo	$425,000	$193	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -38.6%
• Equity multiple: -0.22×
• Total profit: $-146,682
• Equity at exit: $64,015

10-year hold

• IRR: -58.7%
• Equity multiple: -0.89×
• Total profit: $-226,929
• Equity at exit: $37,121

Cash invested: $120,213 (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: 38 active · 5 under contract
• Months of supply: 57.0 mo (2%/mo absorbed)
• Median asking: $365,990 ($154/sqft)
• Median days on market: 191 d
• This list price: 47% of active listings are priced below it
• ARV vs active asking: +9.9% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70435

• Home prices YoY: -27.3%
• Active inventory: 503
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $2,222 medium
• Mortgage (P&I): −$2,251
• Tax est. 1.5%: −$537 /mo · $6,440/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-1,211

Break-even live

Break-even rent $3,756

Max offer price $254,062

Occupancy floor —

Sensitivity live

Price	-10% $-915	-5% $-1,063	+0% $-1,211	+5% $-1,360	+10% $-1,508
Rent	-10% $-1,387	-5% $-1,299	+0% $-1,211	+5% $-1,123	+10% $-1,036
Rate	-1.0pp $-995	-0.5pp $-1,102	base $-1,211	+0.5pp $-1,323	+1.0pp $-1,436

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: $107,333
• Closing costs: $12,880
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-09-23
   days on market $365,990 Active 252 DOM
2. 2026-09-22
   days on market $365,990 Active 251 DOM
3. 2026-09-21
   days on market $365,990 Active 250 DOM
4. 2026-09-20
   days on market $365,990 Active 249 DOM
5. 2026-09-19
   days on market $365,990 Active 248 DOM
6. 2026-09-18
   days on market $365,990 Active 247 DOM
7. 2026-09-17
   days on market $365,990 Active 246 DOM
8. 2026-09-16
   days on market $365,990 Active 245 DOM
9. 2026-09-15
   days on market $365,990 Active 244 DOM
10. 2026-09-14
    days on market $365,990 Active 243 DOM
11. 2026-09-13
    days on market $365,990 Active 242 DOM
12. 2026-09-12
    days on market $365,990 Active 241 DOM
13. 2026-09-05
    days on market $365,990 Active 234 DOM
14. 2026-09-04
    days on market $365,990 Active 233 DOM
15. 2026-09-03
    days on market $365,990 Active 232 DOM
16. 2026-08-31
    days on market $365,990 Active 229 DOM
17. 2026-08-29
    days on market $365,990 Active 227 DOM
18. 2026-08-28
    days on market $365,990 Active 226 DOM
19. 2026-08-27
    days on market $365,990 Active 225 DOM
20. 2026-08-25
    days on market $365,990 Active 223 DOM
21. 2026-08-23
    days on market $365,990 Active 221 DOM
22. 2026-08-22
    days on market $365,990 Active 220 DOM
23. 2026-08-21
    days on market $365,990 Active 219 DOM
24. 2026-08-20
    days on market $365,990 Active 218 DOM
25. 2026-08-19
    days on market $365,990 Active 217 DOM
26. 2026-08-18
    days on market $365,990 Active 216 DOM
27. 2026-08-17
    days on market $365,990 Active 215 DOM
28. 2026-08-16
    days on market $365,990 Active 214 DOM
29. 2026-08-15
    days on market $365,990 Active 213 DOM
30. 2026-08-14
    days on market $365,990 Active 212 DOM
31. 2026-08-13
    days on market $365,990 Active 211 DOM
32. 2026-08-12
    days on market $365,990 Active 210 DOM
33. 2026-08-11
    days on market $365,990 Active 209 DOM
34. 2026-08-10
    days on market $365,990 Active 208 DOM
35. 2026-08-09
    days on market $365,990 Active 207 DOM
36. 2026-08-08
    days on market $365,990 Active 206 DOM
37. 2026-08-07
    days on market $365,990 Active 205 DOM
38. 2026-08-06
    days on market $365,990 Active 204 DOM
39. 2026-08-05
    days on market $365,990 Active 203 DOM
40. 2026-08-04
    days on market $365,990 Active 202 DOM
41. 2026-08-03
    days on market $365,990 Active 201 DOM
42. 2026-07-31
    days on market $365,990 Active 198 DOM
43. 2026-07-30
    days on market $365,990 Active 196 DOM
44. 2026-07-28
    days on market $365,990 Active 195 DOM
45. 2026-07-26
    days on market $365,990 Active 193 DOM
46. 2026-07-24
    days on market $365,990 Active 191 DOM
47. 2026-07-23
    days on market $365,990 Active 190 DOM
48. 2026-07-22
    days on market $365,990 Active 189 DOM
49. 2026-07-21
    days on market $365,990 Active 188 DOM
50. 2026-07-20
    days on market $365,990 Active 187 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: $26,670
• − Mortgage interest: −$24,049
• − Property taxes: −$6,440
• − Insurance: −$2,147
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − Depreciation: −$12,490
• Taxable loss: −$22,723
• Est. tax savings @ 24.0%: +$5,454
• After-tax cash flow: $-9,082/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 · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $12,700–$38,100 screening

This Coronado III K by DSLD Homes is in good condition with a well-maintained exterior and interior. It offers a good return on investment with minor cosmetic updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Covington Elementary School C- LA #108/646 Nat'l #11,263/41,679 Middle William Pitcher Junior High School F LA #112/218 Nat'l #8,750/14,009 High Covington High School F LA #90/265 Nat'l #8,877/17,239

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 75/100

Livability — Covington

• Score: 75/100
• State rank: #17
• US rank: #3876

Category grades

Amenities F Commute F Cost of living B+ Crime A- Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Tammany Parish · 286,725 people
• City population: 64,351
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,475
• Household income: $80,926
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 3% 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: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 4% Hispanic / Latino 3% Pacific Islander 2%
• Common ancestry: Lithuanian 15% Serbian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -76.03%
• Current HPI: 202.0458
• Rent YoY: —
• 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

1 event — show timeline

• 2026-01-14 Listed $365,990 Zillow