1508 Cherry Ridge Ct Ct · Mandeville, LA 70448

$299,999

3 bd · 2.0 ba · 1,931 sqft · SingleFamily public records · 134 Days on market

Built 1996 $155/sqft · 13% below area Est $347k · 13% under

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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).

• ARV discount +13.5/15.0
• Cash flow +9.8/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +2.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3 bedroom/2 bath home in a quiet neighborhood. Cathedral ceilings in the living room with a gas fireplace looking out to the big backyard. 2 big primary bedrooms plus a master bedroom with an on-suite bathroom. House includes a 2 car garage along with private laundry room.

Key facts

• Big backyard
• Cathedral ceilings
• Gas fireplace

Tags

• CATHEDRAL CEILINGS
• GAS FIREPLACE
• BIG BACKYARD
• PRIVATE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (27.7% below list).
• Recommended offer: $217k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.5% in Mandeville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#13 in LA, #3,224 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing 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 (+1.1%/yr); 260 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $9k 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 134 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $195k; list at $300k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,860 (27.7% 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 134 days. Have you received any prior offers? Is the seller open to a 28% 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 A-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: 0.72% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• GRM: 11.5

CMA / ARV

• ARV (median comp): $346,550
• List price: $299,999
• Delta: -13.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 Orient St	0.10mi	3/2.0	2,100 (+9%)	2mo	$257,000	$122	79
863 Destin St	0.18mi	3/2.0	2,074 (+7%)	7mo	$250,000	$121	73
2036 Biron St	0.64mi	3/2.0	1,913 (-1%)	6mo	$282,000	$147	63
930 Labarre St	0.26mi	3/2.0	1,683 (-13%)	8mo	$318,000	$189	60
100 Merganser Dr	0.54mi	4/2.0 (+1)	2,017 (+4%)	5mo	$400,000	$198	58
2010 Rue Pickney St	0.57mi	3/2.0	1,746 (-10%)	1mo	$255,000	$146	57
519 Buttonwillow Ct	0.52mi	4/2.0 (+1)	2,067 (+7%)	3mo	$425,000	$206	56
2321 Cours Carson St	0.61mi	3/2.0	1,800 (-7%)	5mo	$384,900	$214	56
517 Tanager Dr	0.73mi	3/2.5	2,093 (+8%)	2mo	$462,000	$221	48
2377 Cours Carson St	0.75mi	4/2.0 (+1)	2,041 (+6%)	3mo	$379,500	$186	48
1353 Albert St	0.64mi	3/2.0	1,669 (-14%)	8mo	$324,000	$194	42
2189 Rue Pickney St	0.73mi	4/2.0 (+1)	2,131 (+10%)	8mo	$290,000	$136	37

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.23×
• Total profit: $-64,964
• Equity at exit: $44,731

10-year hold

• IRR: -22.7%
• Equity multiple: -0.06×
• Total profit: $-88,864
• Equity at exit: $25,938

Cash invested: $84,000 (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 70448

• Rents YoY: 1.1%
• Active inventory: 260
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,169 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$205 /mo · $2,464/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-190

Break-even live

Break-even rent $2,410

Max offer price $266,365

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-105	+0% $-190	+5% $-275	+10% $-360
Rent	-10% $-362	-5% $-276	+0% $-190	+5% $-105	+10% $-19
Rate	-1.0pp $-39	-0.5pp $-114	base $-190	+0.5pp $-268	+1.0pp $-347

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 Norval St Mandeville, LA	3.0	2.0	1600	$2,000	$1.25	4d	1	0.50mi
817 Norval St Mandeville, LA	3.0	2.0	1518	$1,950	$1.28	44d	1	0.50mi
735 Nancy St Mandeville, LA	3.0	2.0	1250	$1,650	$1.32	44d	1	0.80mi
909 Chevreuil St Mandeville, LA	3.0	2.0	1561	$2,300	$1.47	15d	1	0.85mi
2440 Biron St Mandeville, LA	3.0	2.0	1250	$1,750	$1.40	4d	1	0.91mi
1349 Clausel St Mandeville, LA	3.0	2.5	1300	$1,995	$1.53	4d	1	1.01mi
2630 Rue Weller Mandeville, LA	3.0	2.0	1288	$2,000	$1.55	24d	1	1.02mi
1605 Dupard St Mandeville, LA	4.0	2.0	1495	$2,200	$1.47	12d	1	1.02mi
655 Colbert St #24 Mandeville, LA	2.0	2.5	1650	$3,700	$2.24	4d	1	1.03mi
1555 Marigny Ave Mandeville, LA	3.0	2.0	1375	$2,000	$1.45	44d	1	1.32mi
129 Mead Ct Mandeville, LA	3.0	2.0	1580	$1,850	$1.17	4d	1	1.41mi
602 Foy St Mandeville, LA	3.0	2.0	1360	$2,500	$1.84	4d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $299,999 Active 134 DOM
2. 2026-06-17
   days on market $299,999 Active 133 DOM
3. 2026-06-16
   days on market $299,999 Active 132 DOM
4. 2026-06-15
   days on market $299,999 Active 131 DOM
5. 2026-06-13
   days on market $299,999 Active 129 DOM
6. 2026-06-10
   days on market $299,999 Active 126 DOM
7. 2026-06-09
   days on market $299,999 Active 125 DOM
8. 2026-06-08
   days on market $299,999 Active 124 DOM
9. 2026-06-07
   days on market $299,999 Active 123 DOM
10. 2026-06-03
    days on market $299,999 Active 119 DOM
11. 2026-06-02
    days on market $299,999 Active 118 DOM
12. 2026-06-01
    days on market $299,999 Active 117 DOM
13. 2026-05-31
    days on market $299,999 Active 116 DOM
14. 2026-02-03
    listed $299,999 Active 282-char remark

    Show marketing remark (282 chars)

    Spacious 3 bedroom/2 bath home in a quiet neighborhood. Cathedral ceilings in the living room with a gas fireplace looking out to the big backyard. 2 big primary bedrooms plus a master bedroom with an on-suite bathroom. House includes a 2 car garage along with private laundry room.

15. 2026-02-03
    listed $299,999 Active 282-char remark

    Show marketing remark (282 chars)

    Spacious 3 bedroom/2 bath home in a quiet neighborhood. Cathedral ceilings in the living room with a gas fireplace looking out to the big backyard. 2 big primary bedrooms plus a master bedroom with an on-suite bathroom. House includes a 2 car garage along with private laundry room.

16. 2006-09-29
    soldstatus $195,000
17. 2006-09-28
    soldstatus $195,000
18. 2006-08-01
    listed $209,900
19. 2006-08-01
    listed $209,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $2,464 · $205/mo
• Projected year-2 tax: $2,464 · $205/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,023
• − Mortgage interest: −$16,805
• − Property taxes: −$2,464
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$8,727
• Taxable loss: −$7,637
• Est. tax savings @ 24.0%: +$1,833
• After-tax cash flow: $-452/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

Amenities F Commute F Cost of living C 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 · 228,296 people
• City population: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 26,338
• Household income: $95,682
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 320.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 16% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -113.97%
• Current HPI: 179.9084
• Rent YoY: ▲ 1.06%
• 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

+42.9% since first listed

6 events — show timeline

• 2026-02-03 Listed $299,999 AcadianaMLS
• 2026-02-03 Listed $299,999 GSREIN
• 2006-09-29 Sold (Public Records) $195,000 Public Records
• 2006-09-28 Sold (MLS) $195,000 GSREIN
• 2006-08-01 Listed $209,900 AcadianaMLS
• 2006-08-01 Listed $209,900 GSREIN

Property tax history

+1.0%/yr

Latest (2025): $2,464 · -3.5% YoY. Source: county tax records.