713 Heavens Dr #5 · Mandeville, LA 70471

$129,900

2 bd · 1.5 ba · 980 sqft · Condo public records · 86 Days on market

Built 1983 $133/sqft · 7% below area Est $153k · 15% under $600/mo HOA · 45% 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).

• ARV discount +14.3/15.0
• 1% rule +5.4/10.0
• Cash flow +4.8/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Outstanding Bradford Row condo fully updated and ready for immediate occupancy. New paint, flooring, windows, electrical panel, water heater, and updated lighting with all appliances included! You even get a private patio for sitting outside to read, drink a cup of coffee or have a few plants. Great location with easy access to shopping, recreation, and dining! With all the exterior maintenance taken care of with this beautiful condo, your lifestyle is all about you doing what you want to do! Awesome community pool just steps from your door, too! Don't miss out on one of the more affordable homes in Mandeville where you can live the good life without the big price!

Key facts

• Community pool
• New flooring
• New paint

Tags

• PRIVATE PATIO
• COMMUNITY POOL
• UPDATED LIGHTING
• NEW PAINT
• NEW FLOORING
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $73k (43.5% below list).
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $73k (43.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#13 in LA, #3,224 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: Pontchartrain Elementary School (math 82% / reading 82%, grade A+, #9 of 646 statewide, top 1%, 748 students, 22% FRL); Tchefuncte Middle School (math 65% / reading 71%, grade A-, #5 of 218 statewide, top 2%, 697 students, 24% FRL); Mandeville High School (math 59% / reading 63%, grade C+, #19 of 265 statewide, top 7%, 2,259 students, 22% FRL) — zoned schools average 23% FRL vs 40% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 49% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the St. Tammany Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.3%/yr); 231 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($97k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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 86 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 21y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.
• 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 $73,383 (43.5% 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 86 days. Have you received any prior offers? Is the seller open to a 44% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.04% ✓
• Cap rate: 3.34%
• Cash-on-cash: -10.56%
• DSCR: 0.53
• GRM: 8.0

CMA / ARV

• ARV (median comp): $152,910
• List price: $129,900
• Delta: -15.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.32% rent growth · sell at horizon

5-year hold

• IRR: -34.3%
• Equity multiple: -0.12×
• Total profit: $-40,672
• Equity at exit: $19,369

10-year hold

• IRR: -38.3%
• Equity multiple: -0.61×
• Total profit: $-58,560
• Equity at exit: $11,231

Cash invested: $36,372 (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 70471

• Home prices YoY: -29.2%
• Rents YoY: 3.3%
• Active inventory: 231
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,347 high
• Mortgage (P&I): −$681
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$54
• HOA: −$600
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $-320

Break-even live

Break-even rent $1,752

Max offer price $73,383

Occupancy floor —

Sensitivity live

Price	-10% $-246	-5% $-283	+0% $-320	+5% $-357	+10% $-393
Rent	-10% $-426	-5% $-373	+0% $-320	+5% $-267	+10% $-214
Rate	-1.0pp $-255	-0.5pp $-287	base $-320	+0.5pp $-354	+1.0pp $-388

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
725 Heavens Dr #3 Mandeville, LA	2.0	1.5	1102	$1,350	$1.23	45d	1	0.07mi
700 Heavens Dr Unit 5 Mandeville, LA	2.0	1.0	1100	$1,200	$1.09	45d	1	0.07mi
733 Heavens Dr #4 Mandeville, LA	2.0	1.5	1098	$1,370	$1.25	12d	1	0.12mi
103 Parkview Blvd #103 Mandeville, LA	2.0	2.0	830	$1,300	$1.57	19d	1	0.12mi
Parkview Blvd #410 Parish Governing Authority District 4, LA	2.0	2.0	825	$1,300	$1.58	45d	1	0.12mi
200 Chapel Crk Mandeville, LA	1.0–3.0	1.0–2.0	1175	$1,392	$1.18	3d	11	1.17mi
207 Walnut St Mandeville, LA	3.0	2.0	1075	$1,800	$1.67	5d	1	1.38mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: waterelectricexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-21
   days on market $129,900 Active 86 DOM
2. 2026-06-18
   days on market $129,900 Active 83 DOM
3. 2026-06-17
   days on market $129,900 Active 82 DOM
4. 2026-06-16
   days on market $129,900 Active 81 DOM
5. 2026-06-15
   days on market $129,900 Active 80 DOM
6. 2026-06-13
   days on market $129,900 Active 78 DOM
7. 2026-06-10
   days on market $129,900 Active 75 DOM
8. 2026-06-09
   days on market $129,900 Active 74 DOM
9. 2026-06-08
   days on market $129,900 Active 73 DOM
10. 2026-06-07
    days on market $129,900 Active 72 DOM
11. 2026-06-03
    days on market $129,900 Active 68 DOM
12. 2026-06-02
    days on market $129,900 Active 67 DOM
13. 2026-06-01
    days on market $129,900 Active 66 DOM
14. 2026-05-31
    days on market $129,900 Active 65 DOM
15. 2026-05-04
    price $129,900 673-char remark

    Show marketing remark (674 chars)

    Outstanding Bradford Row condo fully updated and ready for immediate occupancy. New paint, flooring, windows, electrical panel, water heater, and updated lighting with all appliances included! You even get a private patio for sitting outside to read, drink a cup of coffee or have a few plants. Great location with easy access to shopping, recreation, and dining! With all the exterior maintenance taken care of with this beautiful condo, your lifestyle is all about you doing what you want to do! Awesome community pool just steps from your door, too! Don't miss out on one of the more affordable homes in Mandeville where you can live the good life without the big price!

16. 2026-05-04
    price $129,900 674-char remark

    Show marketing remark (674 chars)

    Outstanding Bradford Row condo fully updated and ready for immediate occupancy. New paint, flooring, windows, electrical panel, water heater, and updated lighting with all appliances included! You even get a private patio for sitting outside to read, drink a cup of coffee or have a few plants. Great location with easy access to shopping, recreation, and dining! With all the exterior maintenance taken care of with this beautiful condo, your lifestyle is all about you doing what you want to do! Awesome community pool just steps from your door, too! Don't miss out on one of the more affordable homes in Mandeville where you can live the good life without the big price!

17. 2026-03-27
    listed $139,900 Active 673-char remark

    Show marketing remark (674 chars)

    Outstanding Bradford Row condo fully updated and ready for immediate occupancy. New paint, flooring, windows, electrical panel, water heater, and updated lighting with all appliances included! You even get a private patio for sitting outside to read, drink a cup of coffee or have a few plants. Great location with easy access to shopping, recreation, and dining! With all the exterior maintenance taken care of with this beautiful condo, your lifestyle is all about you doing what you want to do! Awesome community pool just steps from your door, too! Don't miss out on one of the more affordable homes in Mandeville where you can live the good life without the big price!

18. 2026-03-27
    listed $139,900 Active 674-char remark

    Show marketing remark (674 chars)

    Outstanding Bradford Row condo fully updated and ready for immediate occupancy. New paint, flooring, windows, electrical panel, water heater, and updated lighting with all appliances included! You even get a private patio for sitting outside to read, drink a cup of coffee or have a few plants. Great location with easy access to shopping, recreation, and dining! With all the exterior maintenance taken care of with this beautiful condo, your lifestyle is all about you doing what you want to do! Awesome community pool just steps from your door, too! Don't miss out on one of the more affordable homes in Mandeville where you can live the good life without the big price!

19. 2026-03-26
    historical $1,550
20. 2026-02-27
    listed $1,550
21. 2026-02-27
    historical $1,600
22. 2026-01-07
    listed $1,600
23. 2021-11-24
    soldstatus $133,200
24. 2018-07-23
    soldstatus $83,000
25. 2015-01-06
    listed $85,000
26. 2014-10-13
    listed $90,000
27. 2013-09-20
    soldstatus $85,000
28. 2010-05-28
    listed $90,000
29. 2010-05-28
    listed $90,000
30. 2009-05-26
    listed $109,900
31. 2009-05-26
    listed $109,900
32. 2006-07-18
    soldstatus $127,000
33. 2006-04-11
    listed $130,000
34. 2005-10-19
    soldstatus $98,500
35. 2005-10-18
    soldstatus $98,500
36. 2005-10-18
    soldstatus $90,500
37. 2005-06-05
    listed $98,500
38. 2005-06-05
    listed $98,500
39. 2005-06-05
    listed $90,500

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $714 · $60/mo
• Expected delta: +$130/yr (+$11/mo · 22.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°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: $16,164
• − Mortgage interest: −$7,276
• − Property taxes: −$585
• − Insurance: −$650
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − HOA: −$7,200
• − Depreciation: −$3,779
• Taxable loss: −$5,912
• Est. tax savings @ 24.0%: +$1,419
• After-tax cash flow: $-2,420/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

• Census place: Mandeville, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 24,199
• Household income: $96,501
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 475.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 8% Asian 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 15% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -77.41%
• Current HPI: 188.0159
• Rent YoY: ▲ 3.32%
• 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

+31.9% since first listed

25 events — show timeline

• 2026-05-04 Price Changed $129,900 AcadianaMLS
• 2026-05-04 Price Changed $129,900 GSREIN
• 2026-03-27 Listed $139,900 GSREIN
• 2026-03-27 Listed $139,900 AcadianaMLS
• 2026-03-26 Rental Removed $1,550 RAAMLS
• 2026-02-27 Listed for Rent $1,550 RAAMLS
• 2026-02-27 Rental Removed $1,600 GSREIN
• 2026-01-07 Listed for Rent $1,600 GSREIN
• 2021-11-24 Sold (Public Records) $133,200 Public Records
• 2018-07-23 Sold (Public Records) $83,000 Public Records
• 2015-01-06 Listed $85,000 GSREIN
• 2014-10-13 Listed $90,000 GSREIN
• 2013-09-20 Sold (Public Records) $85,000 Public Records
• 2010-05-28 Listed $90,000 GSREIN
• 2010-05-28 Listed $90,000 AcadianaMLS
• 2009-05-26 Listed $109,900 GSREIN
• 2009-05-26 Listed $109,900 AcadianaMLS
• 2006-07-18 Sold (MLS) $127,000 GSREIN
• 2006-04-11 Listed $130,000 GSREIN
• 2005-10-19 Sold (Public Records) $98,500 Public Records
• 2005-10-18 Sold (MLS) $90,500 GSREIN
• 2005-10-18 Sold (MLS) $98,500 GSREIN
• 2005-06-05 Listed $90,500 GSREIN
• 2005-06-05 Listed $98,500 AcadianaMLS
• 2005-06-05 Listed $98,500 GSREIN

Property tax history

-5.8%/yr

Latest (2025): $585 · +37.5% YoY. Source: county tax records.