350 Emerald Forest Blvd #22109 · Covington, LA 70433

$115,900

1 bd · 1.0 ba · 816 sqft · Condo public records · 101 Days on market

Built 2007 $142/sqft · 13% below area Est $133k · 13% under $485/mo HOA · 39% of rent ↓ 11% since listing

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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 +13.4/15.0
• 1% rule +5.7/10.0
• Cash flow +5.6/30.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you'll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

Key facts

• New vanity top
• Newly installed sink
• Modern led fixtures

Tags

• DEEDED COVERED PARKING
• MODERN LED FIXTURES
• FRESHLY PAINTED INTERIOR
• NEW VANITY TOP
• PROFESSIONALLY REFINISHED TUB
• NEWLY INSTALLED SINK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $116k.

Deal economics

• At list price, monthly cash flow is $-244 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $73k (37.2% below list).
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $73k (37.2% below list) — sets the bar for cash-flow.

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.
• Market conditions: Rents rising fast (+4.3%/yr); 529 active listings in the ZIP; 8 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 $801 of loan paydown is wiped out by about $3k 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 101 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $14k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $72,744 (37.2% 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 101 days. Have you received any prior offers? Is the seller open to a 37% 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 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?
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: 1.07% ✓
• Cap rate: 3.76%
• Cash-on-cash: -9.03%
• DSCR: 0.60
• GRM: 7.8

CMA / ARV

• ARV (median comp): $133,321
• List price: $115,900
• Delta: -13.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -29.5%
• Equity multiple: 0.00×
• Total profit: $-32,400
• Equity at exit: $17,281

10-year hold

• IRR: -21.8%
• Equity multiple: -0.24×
• Total profit: $-40,115
• Equity at exit: $10,021

Cash invested: $32,452 (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 70433

• Rents YoY: 4.3%
• Active inventory: 529
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,243 high
• Mortgage (P&I): −$608
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$48
• HOA: −$485
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-244

Break-even live

Break-even rent $1,552

Max offer price $72,744

Occupancy floor —

Sensitivity live

Price	-10% $-179	-5% $-211	+0% $-244	+5% $-277	+10% $-310
Rent	-10% $-343	-5% $-293	+0% $-244	+5% $-195	+10% $-146
Rate	-1.0pp $-186	-0.5pp $-215	base $-244	+0.5pp $-274	+1.0pp $-305

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,300	$1.54	13d	2	0.07mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,099	$1.14	2d	9	0.15mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,262	$1.93	2d	12	0.65mi
164 Golden Meadow Dr Covington, LA	1.0	2.0	1100	$1,350	$1.23	21d	1	0.85mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,349	$1.57	3d	18	0.90mi
101 Holiday Square Blvd Covington, LA	1.0	1.0	500	$1,140	$2.28	15d	5	1.20mi
1612 Versailles Business Pkwy Covington, LA	1.0–2.0	1.0–2.0	1009	$1,343	$1.33	3d	31	1.36mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	45d	1	1.40mi

HOA detail condo

• Monthly dues: $485 · $5,820/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $115,900 Active 101 DOM
2. 2026-06-18
   days on market $115,900 Active 98 DOM
3. 2026-06-17
   days on market $115,900 Active 97 DOM
4. 2026-06-16
   days on market $115,900 Active 96 DOM
5. 2026-06-15
   days on market $115,900 Active 95 DOM
6. 2026-06-13
   days on market $115,900 Active 93 DOM
7. 2026-06-10
   days on market $115,900 Active 90 DOM
8. 2026-06-09
   days on market $115,900 Active 89 DOM
9. 2026-06-08
   days on market $115,900 Active 88 DOM
10. 2026-06-07
    days on market $115,900 Active 87 DOM
11. 2026-06-03
    days on market $115,900 Active 83 DOM
12. 2026-06-02
    days on market $115,900 Active 82 DOM
13. 2026-06-01
    days on market $115,900 Active 81 DOM
14. 2026-05-31
    days on market $115,900 Active 80 DOM
15. 2026-04-27
    price $115,900 1665-char remark

    Show marketing remark (1671 chars)

    Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you’ll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

16. 2026-04-27
    price $115,900 1671-char remark

    Show marketing remark (1671 chars)

    Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you’ll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

17. 2026-04-13
    price $124,999 1665-char remark

    Show marketing remark (1671 chars)

    Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you’ll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

18. 2026-04-13
    price $124,999 1671-char remark

    Show marketing remark (1671 chars)

    Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you’ll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

19. 2026-02-27
    listed $130,000 Active 1665-char remark

    Show marketing remark (1671 chars)

    Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you’ll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

20. 2026-02-27
    listed $130,000 Active 1671-char remark

    Show marketing remark (1671 chars)

    Beautifully Updated 1 Bedroom Condo with Covered Parking This move-in ready 1 bedroom, 1 bathroom condo has been thoughtfully updated and meticulously maintained. The unit includes a deeded covered parking space, providing both convenience and protection from the elements. Inside, you’ll find numerous recent improvements throughout the home. All lighting fixtures and ceiling fans have been replaced with modern LED fixtures, creating a bright and energy-efficient space. The entire interior has been freshly painted, including walls, trim, and doors for a clean, updated feel. The bathroom has been refreshed with a new vanity top, mirror, toilet, and a professionally refinished tub, while the kitchen features a newly installed sink. Tile floors have been deep cleaned and re-grouted, along with the tile countertops, giving the surfaces a crisp, refreshed look. Additional upgrades include brand-new window blinds and newly installed cabinet liner in all kitchen cabinets. For added peace of mind, the condo is equipped with a cellular burglar and fire alarm system, with monitoring fees already paid through May 29, 2026. Monthly condo dues are $485, and average combined water and electric costs are approximately $160 per month. Current insurance covering interior contents and finishes is approximately $1,200 annually. The property is not located in a flood zone, so flood insurance is not required. This condo offers low-maintenance living with thoughtful upgrades, making it a fantastic option for homeowners, investors, or anyone seeking an easy lifestyle in a well-maintained community. Photos may include virtual staging to help visualize the space.

21. 2025-11-26
    listed $130,000 Active
22. 2013-11-20
    soldstatus $88,000
23. 2013-08-29
    listed $95,000
24. 2013-08-29
    listed $95,000
25. 2009-10-30
    listed $130,000
26. 2009-10-30
    listed $130,000

ⓘ 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: $1,023 · $85/mo
• Projected year-2 tax: $1,023 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $14,918
• − Mortgage interest: −$6,492
• − Property taxes: −$1,023
• − Insurance: −$580
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − HOA: −$5,820
• − Depreciation: −$3,372
• Taxable loss: −$4,756
• Est. tax savings @ 24.0%: +$1,141
• After-tax cash flow: $-1,790/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 — 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 · 228,296 people
• City population: 64,351
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1287.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

-10.8% since first listed

12 events — show timeline

• 2026-04-27 Price Changed $115,900 AcadianaMLS
• 2026-04-27 Price Changed $115,900 GSREIN
• 2026-04-13 Price Changed $124,999 AcadianaMLS
• 2026-04-13 Price Changed $124,999 GSREIN
• 2026-02-27 Listed $130,000 GSREIN
• 2026-02-27 Listed $130,000 AcadianaMLS
• 2025-11-26 Listed $130,000 AcadianaMLS
• 2013-11-20 Sold (MLS) $88,000 GSREIN
• 2013-08-29 Listed $95,000 AcadianaMLS
• 2013-08-29 Listed $95,000 GSREIN
• 2009-10-30 Listed $130,000 GSREIN
• 2009-10-30 Listed $130,000 AcadianaMLS

Property tax history

-1.6%/yr

Latest (2025): $1,023 · -15.8% YoY. Source: county tax records.