319 Somerset Dr · Slidell, LA 70461

$180,000

3 bd · 2.0 ba · 1,594 sqft · SingleFamily public records · 77 Days on market

Built 1988 $113/sqft · 14% below area Est $209k · 14% under

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Why this score? — see what drove the C+ 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 +23.1/30.0
• ARV discount +13.8/15.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home's overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

Key facts

• Brand new roof
• Rear yard access
• Two car garage

Tags

• REAR YARD ACCESS
• BRAND NEW ROOF
• TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.9% in Slidell — 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 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.
• Zoned schools: Cypress Cove Elementary School (657 students, 53% FRL); Little Oak Middle School (math 50% / reading 58%, grade B-, #19 of 218 statewide, top 9%, 929 students, 41% FRL); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL).
• Market conditions: Rents rising (+1.7%/yr); 594 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 ($169k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 31y 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 $126k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,200 (6.0% 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 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.66%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (median comp): $209,144
• List price: $180,000
• Delta: -13.93%
• 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
212 Brookhaven Ct	0.19mi	3/2.0	1,595 (+0%)	3mo	$192,000	$120	89
696 Voters Rd	0.39mi	3/2.0	1,549 (-3%)	3mo	$250,000	$161	74
314 Brookhaven Ct	0.20mi	4/2.0 (+1)	1,505 (-6%)	2mo	$239,000	$159	74
2005 Wellington Ln	0.50mi	4/2.0 (+1)	1,604 (+1%)	7mo	$49,500	$31	64
105 Foxcroft Dr	0.40mi	3/2.0	1,430 (-10%)	3mo	$179,000	$125	62
1409 Kings Row	0.70mi	3/2.0	1,510 (-5%)	2mo	$132,000	$87	57
577 Panther Dr	0.65mi	3/2.0	1,483 (-7%)	3mo	$150,000	$101	56
58040 S Walnut St	0.58mi	3/2.0	1,456 (-9%)	7mo	$140,000	$96	52
525 Panther Dr	0.58mi	3/2.0	1,405 (-12%)	3mo	$189,000	$135	51
1410 Montgomery Blvd	0.66mi	4/2.0 (+1)	1,696 (+6%)	6mo	$212,500	$125	49
57453 Cedar Ave	0.57mi	3/2.0	1,371 (-14%)	3mo	$232,500	$170	48
1811 Admiral Nelson Dr	0.61mi	4/2.0 (+1)	1,441 (-10%)	8mo	$235,000	$163	44

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: -8.3%
• Equity multiple: 0.70×
• Total profit: $-15,237
• Equity at exit: $26,839

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,651
• Equity at exit: $15,563

Cash invested: $50,400 (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: 594
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,828 high
• Mortgage (P&I): −$944
• Tax from tax record: −$104 /mo · $1,245/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $255

Break-even live

Break-even rent $1,505

Max offer price $180,000

Occupancy floor 81%

Sensitivity live

Price	-10% $357	-5% $306	+0% $255	+5% $204	+10% $153
Rent	-10% $111	-5% $183	+0% $255	+5% $328	+10% $400
Rate	-1.0pp $346	-0.5pp $301	base $255	+0.5pp $209	+1.0pp $161

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 Foxbriar Ct Slidell, LA	3.0	2.0	1395	$1,650	$1.18	45d	1	0.22mi
57346 Maple Ave Slidell, LA	3.0	2.5	1550	$1,500	$0.97	45d	1	0.31mi
310 Foxcroft Dr Slidell, LA	4.0	2.0	1535	$1,950	$1.27	25d	1	0.35mi
1918 Hempstead Dr Unit NA Slidell, LA	4.0	2.0	1615	$1,750	$1.08	25d	1	0.50mi
57479 Cedar Ave Slidell, LA	4.0	2.0	1950	$1,800	$0.92	25d	1	0.58mi
1402 Shakespeare Ct Slidell, LA	4.0	2.0	1347	$1,725	$1.28	45d	1	0.63mi
577 Panther Dr Slidell, LA	3.0	2.0	1483	$1,850	$1.25	4d	1	0.64mi
2012 Dylan Dr Slidell, LA	3.0	2.0	1700	$1,950	$1.15	25d	1	0.74mi
1409 Ellingsworth Dr Slidell, LA	4.0	2.0	1950	$2,000	$1.03	45d	1	0.74mi
1000 Clairise Ct Slidell, LA	3.0	2.0	1319	$1,900	$1.44	45d	1	0.78mi
1640 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	959	$1,895	$1.98	3d	46	0.89mi
1303 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	990	$1,825	$1.84	3d	31	0.95mi
2009 Beth Dr Slidell, LA	3.0	2.0	1500	$1,750	$1.17	4d	1	1.08mi
1733 Mary Dr Slidell, LA	3.0	2.0	1349	$1,650	$1.22	45d	1	1.22mi
1731 Mary Dr Slidell, LA	3.0	2.0	1200	$1,650	$1.38	4d	1	1.23mi

Listing history 22 events

1. 2026-06-07
   statusdays on market $180,000 Pending 77 DOM
2. 2026-06-03
   days on market $180,000 Active 76 DOM
3. 2026-06-02
   days on market $180,000 Active 75 DOM
4. 2026-06-01
   days on market $180,000 Active 74 DOM
5. 2026-05-31
   days on market $180,000 Active 73 DOM
6. 2026-05-13
   status Active 1048-char remark

   Show marketing remark (1054 chars)

   BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home’s overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

7. 2026-05-13
   status Active 1054-char remark

   Show marketing remark (1054 chars)

   BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home’s overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

8. 2026-04-09
   status Pending 1048-char remark

   Show marketing remark (1054 chars)

   BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home’s overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

9. 2026-04-09
   historical Active Under Contract 1054-char remark

   Show marketing remark (1054 chars)

   BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home’s overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

10. 2026-03-19
    listed $180,000 Active 1048-char remark

    Show marketing remark (1054 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home’s overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

11. 2026-03-19
    listed $180,000 Active 1054-char remark

    Show marketing remark (1054 chars)

    BACK ON THE MARKET AT NO FAULT OF THE SELLER!!! Welcome to this 3 bedroom, 2 bathroom home located in highly desirable Flood Zone C in Slidell where flood insurance is not required. Situated on a spacious corner lot, this property offers rear yard access perfect for storing boats, campers, trailers, and other recreational equipment. Inside, you will find a bright and open living area highlighted by a 12 foot vaulted ceiling and a classic brick wood burning fireplace, creating a warm and inviting atmosphere. The functional layout offers comfortable living spaces with great potential to make it your own. The home features a brand new roof and the sellers are offering a flooring allowance, giving the next owner the opportunity to customize and start with a fresh canvas. A two car garage provides ample parking and storage, adding to the home’s overall convenience and appeal. Whether you are looking for a primary residence or an investment property to add to your portfolio, this home offers excellent potential in a sought after location.

12. 2009-08-04
    soldstatus $126,500
13. 2009-07-02
    soldstatus $126,500
14. 2009-04-23
    listed $125,000
15. 2009-04-23
    listed $125,000
16. 2003-08-08
    soldstatus $95,500
17. 2003-07-31
    soldstatus $95,500
18. 2003-06-24
    listed $97,900
19. 2003-06-24
    listed $97,900
20. 1995-06-30
    soldstatus $64,610
21. 1995-06-29
    listed $64,610
22. 1995-06-29
    listed $64,610

ⓘ 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: $1,245 · $104/mo
• Projected year-2 tax: $1,245 · $104/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 7/10 Severe FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $21,942
• − Mortgage interest: −$10,083
• − Property taxes: −$1,245
• − Insurance: −$1,697
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$5,236
• Taxable income: $169
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $3,023/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): 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

+178.6% since first listed

17 events — show timeline

• 2026-05-13 Relisted — AcadianaMLS
• 2026-05-13 Relisted — GSREIN
• 2026-04-09 Pending — AcadianaMLS
• 2026-04-09 Contingent — GSREIN
• 2026-03-19 Listed $180,000 GSREIN
• 2026-03-19 Listed $180,000 AcadianaMLS
• 2009-08-04 Sold (Public Records) $126,500 Public Records
• 2009-07-02 Sold (MLS) $126,500 GSREIN
• 2009-04-23 Listed $125,000 GSREIN
• 2009-04-23 Listed $125,000 AcadianaMLS
• 2003-08-08 Sold (Public Records) $95,500 Public Records
• 2003-07-31 Sold (MLS) $95,500 GSREIN
• 2003-06-24 Listed $97,900 GSREIN
• 2003-06-24 Listed $97,900 AcadianaMLS
• 1995-06-30 Sold (MLS) $64,610 GSREIN
• 1995-06-29 Listed $64,610 GSREIN
• 1995-06-29 Listed $64,610 AcadianaMLS

Property tax history

-3.5%/yr

Latest (2025): $1,245 · -3.8% YoY. Source: county tax records.