5413 Fornea Glen Way · Slidell, LA 70461

$249,900

4 bd · 2.0 ba · 1,612 sqft · SingleFamily · 77 Days on market

Built 2026 Good condition 7,405 sqft lot $155/sqft · at area comps Est $250k · 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 +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Explore the Baldwin at 5413 Fornea Glen Way, a new home in Lakeshore Villages. Inside, this 4-bedroom, 2-bathroom layout spans 1,612 square feet of well-planned living space. As you enter, two secondary bedrooms and a full guest bath greet you at the front of the home, perfect for family or guests. A third bedroom is tucked off a private hallway, along with a linen closet and HVAC access for added convenience. At the heart of the home, the open-concept kitchen features shaker-style cabinetry, sleek 3 cm granite countertops, a single-basin undermount sink, and stainless steel Frigidaire appliances including a gas range, microwave hood, and dishwasher. A large corner pantry and nearby laundry room make everyday living effortless. The kitchen flows seamlessly into the dining area and spacious living room, creating a connected space ideal for entertaining or relaxing with loved ones. Each bedroom includes plush carpeting and ample closet space, offering flexibility for everything from a home office to a fitness room. The private primary suite is located at the rear of the home and includes a luxurious en suite bath with a double vanity, tub/shower combo, walk-in closet, separate linen storage, and a private water closet. Ready to see it for yourself? Schedule your tour of the Hammond today and experience comfort, convenience, and style all in one place.

Key facts

• 7,405 sq ft lot
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $34 ($409/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 $231k (7.7% below list).
• Recommended offer: $231k (7.7% 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; 20 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 31% 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 $7k 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 77 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 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 $230,769 (7.7% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.92% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.0

CMA / ARV

• ARV (median comp): $249,947
• List price: $249,900
• Delta: -0.02%
• 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
5441 Fornea Glen Way	0.00mi	4/2.0	1,612 (0%)	1mo	$249,900	$155	100
5472 Fornea Glen Way	0.00mi	4/2.0	1,612 (0%)	2mo	$256,005	$159	98
5460 Fornea Glen Way	0.00mi	4/2.0	1,612 (0%)	4mo	$244,900	$152	97
5468 Fornea Glen Way	0.00mi	4/2.0	1,612 (0%)	5mo	$243,900	$151	96
5449 Fornea Glen Way	0.00mi	3/2.5 (-1)	1,776 (+10%)	2mo	$274,900	$155	74
5481 Fornea Glen Way	0.00mi	3/2.0 (-1)	1,405 (-13%)	1mo	$224,900	$160	73
5429 Fornea Glen Way	0.00mi	3/2.0 (-1)	1,405 (-13%)	2mo	$236,900	$169	72
5473 Fornea Glen Way	0.00mi	3/2.0 (-1)	1,405 (-13%)	4mo	$225,990	$161	71
3381 Bellwick Bay Dr	0.61mi	4/2.0	1,610 (-0%)	2mo	$239,900	$149	70
5947 Belfast Bend Ct	0.08mi	4/2.5	1,836 (+14%)	6mo	$292,000	$159	66
3435 Tide Wind Dr	0.75mi	4/2.0	1,585 (-2%)	4mo	$235,000	$148	59
4778 Cotton Grass Dr	0.66mi	4/2.0	1,425 (-12%)	1mo	$216,900	$152	49

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: -16.8%
• Equity multiple: 0.41×
• Total profit: $-41,186
• Equity at exit: $37,261

10-year hold

• IRR: -11.2%
• Equity multiple: 0.36×
• Total profit: $-44,509
• Equity at exit: $21,607

Cash invested: $69,972 (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: 9.0×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$62
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $34

Break-even live

Break-even rent $2,265

Max offer price $249,900

Occupancy floor 94%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5169 Clarkston Grove Dr Slidell, LA	4.0	3.0	2107	$2,250	$1.07	17d	1	0.42mi
5579 Grand Springs Rd Slidell, LA	4.0	2.0	1867	$2,200	$1.18	43d	1	0.53mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,510	$1.58	1d	14	0.53mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,610	$1.70	44d	1	0.53mi
3616 Spruce Key Ln Slidell, LA	3.0	2.0	1635	$2,395	$1.46	1d	1	0.56mi
7535 1st Lake Dr Slidell, LA	3.0	2.0	1564	$2,195	$1.40	17d	1	0.63mi
5225 Summer Pecan Rd Slidell, LA	4.0	2.0	2079	$2,300	$1.11	23d	1	0.70mi
3635 Trestle Crossing Ave Slidell, LA	4.0	3.0	2208	$2,600	$1.18	43d	1	0.75mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,699	$1.50	1d	1	0.77mi
5265 Summer Pecan Rd Slidell, LA	4.0	2.0	1647	$2,300	$1.40	2d	1	0.80mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,539	$1.38	1d	1	0.82mi
713 Lakeshore Vlg E Slidell, LA	3.0	2.0	1563	$2,100	$1.34	43d	1	0.82mi
109 Oak Landing Ln Slidell, LA	4.0	2.0	1884	$2,350	$1.25	17d	1	0.87mi
479 Lakeshore Vlg E Slidell, LA	4.0	2.0	1893	$2,400	$1.27	23d	1	0.89mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	43d	1	0.99mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	23d	1	0.99mi
408 Lakeshore Vlg E Slidell, LA	3.0	2.0	1785	$2,395	$1.34	11d	1	1.00mi
100 Marina Dr Unit 100 Slidell, LA	3.0	3.0	1850	$1,925	$1.04	3d	1	1.32mi
870 Marina Dr Unit B Slidell, LA	3.0	2.5	1700	$2,000	$1.18	43d	1	1.46mi
870 Marina Dr Unit A Slidell, LA	3.0	2.5	1600	$1,950	$1.22	3d	1	1.47mi

HOA detail

• Monthly dues: $62 · $744/yr
• Likely covers: watergas

Listing history 16 events

1. 2026-06-18
   days on market $249,900 Active 77 DOM
2. 2026-06-17
   days on market $249,900 Active 76 DOM
3. 2026-06-16
   days on market $249,900 Active 75 DOM
4. 2026-06-15
   days on market $249,900 Active 74 DOM
5. 2026-06-13
   days on market $249,900 Active 72 DOM
6. 2026-06-10
   days on market $249,900 Active 69 DOM
7. 2026-06-09
   days on market $249,900 Active 68 DOM
8. 2026-06-08
   days on market $249,900 Active 67 DOM
9. 2026-06-07
   days on market $249,900 Active 66 DOM
10. 2026-06-03
    days on market $249,900 Active 62 DOM
11. 2026-06-02
    days on market $249,900 Active 61 DOM
12. 2026-06-01
    days on market $249,900 Active 60 DOM
13. 2026-05-31
    days on market $249,900 Active 59 DOM
14. 2026-04-17
    listed $249,900 Active 1371-char remark

    Show marketing remark (1371 chars)

    Explore the Baldwin at 5413 Fornea Glen Way, a new home in Lakeshore Villages. Inside, this 4-bedroom, 2-bathroom layout spans 1,612 square feet of well-planned living space. As you enter, two secondary bedrooms and a full guest bath greet you at the front of the home, perfect for family or guests. A third bedroom is tucked off a private hallway, along with a linen closet and HVAC access for added convenience. At the heart of the home, the open-concept kitchen features shaker-style cabinetry, sleek 3 cm granite countertops, a single-basin undermount sink, and stainless steel Frigidaire appliances including a gas range, microwave hood, and dishwasher. A large corner pantry and nearby laundry room make everyday living effortless. The kitchen flows seamlessly into the dining area and spacious living room, creating a connected space ideal for entertaining or relaxing with loved ones. Each bedroom includes plush carpeting and ample closet space, offering flexibility for everything from a home office to a fitness room. The private primary suite is located at the rear of the home and includes a luxurious en suite bath with a double vanity, tub/shower combo, walk-in closet, separate linen storage, and a private water closet. Ready to see it for yourself? Schedule your tour of the Hammond today and experience comfort, convenience, and style all in one place.

15. 2026-04-02
    listed $249,900 Active 1731-char remark

    Show marketing remark (1731 chars)

    Welcome to the Hammond, one of our one-story floorplans featured in Lakeshore Villages, a new home community in Slidell, Louisiana. With 3 exteriors to choose from, the Hammond is sure to impress. Inside this 4-bedroom, 2-bathroom home, you’ll find 1,612 square feet of enjoyable living. Once you walk into this home, you’ll see two bedrooms along with the guest bathroom. Walking down the foyer, you’ll see another bedroom down a short hallway, that houses the HVAC system and the linen closet on the other side. The kitchen offers shaker-style cabinets, gooseneck pulldown faucets in the kitchens. The chef in your family will also enjoy the stainless-steel Whirlpool appliances, gas stove, microwave hood, dishwasher, single basin undermount sink. and 3 cm granite throughout. The kitchen also houses a large corner pantry, and the separate laundry room is located on the other side, creating easy access to everything. The dining room is adjacent to the kitchen, and the living room is situated nearby. This smart layout ensures that anyone can always be part of the action, regardless of their location. Each bedroom is equipped with cozy carpeting and a convenient closet. Whether you need a space for entertainment, storage, hosting guests, relaxation, or fitness activities, you can count on feeling comfortable and content. The primary bedroom is in the rear of the home and has its own en suite. The primary bathroom features a double vanity with a tub/shower combo, large walk-in closet, separate linen closet, and a separate water closet. Get in touch with us now and schedule a tour of the Hammond today! DISCLAIMER: final options, finishes, colors, etc. are subject to change until home is finished.

16. 2026-04-02
    listed $249,900 Active

    Show marketing remark (1731 chars)

    Welcome to the Hammond, one of our one-story floorplans featured in Lakeshore Villages, a new home community in Slidell, Louisiana. With 3 exteriors to choose from, the Hammond is sure to impress. Inside this 4-bedroom, 2-bathroom home, you’ll find 1,612 square feet of enjoyable living. Once you walk into this home, you’ll see two bedrooms along with the guest bathroom. Walking down the foyer, you’ll see another bedroom down a short hallway, that houses the HVAC system and the linen closet on the other side. The kitchen offers shaker-style cabinets, gooseneck pulldown faucets in the kitchens. The chef in your family will also enjoy the stainless-steel Whirlpool appliances, gas stove, microwave hood, dishwasher, single basin undermount sink. and 3 cm granite throughout. The kitchen also houses a large corner pantry, and the separate laundry room is located on the other side, creating easy access to everything. The dining room is adjacent to the kitchen, and the living room is situated nearby. This smart layout ensures that anyone can always be part of the action, regardless of their location. Each bedroom is equipped with cozy carpeting and a convenient closet. Whether you need a space for entertainment, storage, hosting guests, relaxation, or fitness activities, you can count on feeling comfortable and content. The primary bedroom is in the rear of the home and has its own en suite. The primary bathroom features a double vanity with a tub/shower combo, large walk-in closet, separate linen closet, and a separate water closet. Get in touch with us now and schedule a tour of the Hammond today! DISCLAIMER: final options, finishes, colors, etc. are subject to change until home is finished.

ⓘ 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: $27,692
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − HOA: −$744
• − Depreciation: −$7,270
• Taxable loss: −$3,748
• Est. tax savings @ 24.0%: +$900
• After-tax cash flow: $1,309/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 · 8 photos

Good 80/100 None rehab

This single-family home in Slidell, Louisiana, is in excellent condition with a good condition score of 80. It features a well-maintained exterior, hardwood floors, and modern finishes. The home is move-in ready and would benefit from a fresh coat of paint on the exterior siding and replacing the window blinds to enhance its curb appeal and rental value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace window blinds — Improves energy efficiency and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace window blinds — Improves energy efficiency and rental appeal ↑

ⓘ 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

+0.0% since first listed

3 events — show timeline

• 2026-04-17 Listed $249,900 Zillow
• 2026-04-02 Listed $249,900 AcadianaMLS
• 2026-04-02 Listed $249,900 GSREIN