225 Putters Ln #225 · Slidell, LA 70460

$110,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 9 Days on market

Built 1980 Fair condition $395/mo HOA · 27% of rent

---

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 +14.4/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare chance to own a corner single story unit . BARGAIN PRICE for the single story unit with two full baths The place needs flooring but is in good general condition. One weekend of making it your own and you're on your way. The time is now to get started owning your own place or diving into rental units. Refrigerator is included there is also a washer and dryer there but prior tenant indicated there was a problem with something. ( we will haul it off if you dont want 'em). Community pool is beautiful and you'll have it to yourself most days from what I've observed. Take back your weekends instead of mowing grass and doing maintenance. Do it before somebody beats ya to it...

Key facts

• Community pool
• Washer and dryer
• $395 HOA

Tags

• CORNER SINGLE STORY UNIT
• COMMUNITY POOL
• REFRIGERATOR INCLUDED
• WASHER AND DRYER

Property features AI

Finance

• HOA & community: Association: Royal Gardens; Monthly association fee of $395; HOA covers common areas and water; Community features include common grounds and pool

Exterior

• Parking: Assigned parking in a lot (two spaces)
• Utilities: Public water; Sewer via treatment plant
• Home design: Single-story property; Average condition
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation; Built with standard construction materials
• Exterior features: Covered concrete patio; Community in-ground pool; Outside city limits

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Accessibility features; Wood-burning fireplace
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $21 ($256/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

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 fast (+5.9%/yr); 241 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $761 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $110,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.35% ✓
• Cap rate: 6.53%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.62×
• Total profit: $-11,713
• Equity at exit: $16,401

10-year hold

• IRR: 4.5%
• Equity multiple: 1.40×
• Total profit: $12,177
• Equity at exit: $9,511

Cash invested: $30,800 (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 70460

• Rents YoY: 5.9%
• Active inventory: 241
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$395
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $21

Break-even live

Break-even rent $1,462

Max offer price $110,000

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Birdie Dr Slidell, LA	2.0	1.5	1200	$1,400	$1.17	44d	1	0.08mi
112 Birdie Dr Slidell, LA	2.0	1.5	1200	$1,350	$1.12	23d	1	0.10mi
62075 Airport Rd Unit 075 Slidell, LA	2.0	2.0	1254	$1,550	$1.24	44d	1	0.12mi
16 Birdie Dr Slidell, LA	2.0	1.5	1205	$1,500	$1.24	44d	1	0.12mi
100 Greenbrier Way Slidell, LA	1.0–3.0	1.0–2.5	1160	$1,618	$1.40	2d	21	0.33mi
34649 Grantham College Dr Slidell, LA	2.0	1.5	1070	$900	$0.84	3d	1	1.39mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-18
   days on market $110,000 Active 9 DOM
2. 2026-06-17
   days on market $110,000 Active 8 DOM
3. 2026-06-16
   days on market $110,000 Active 7 DOM
4. 2026-06-15
   days on market $110,000 Active 6 DOM
5. 2026-06-13
   days on market $110,000 Active 4 DOM
6. 2026-06-10
   remarks 686-char remark
7. 2026-06-10
   listed $110,000 Active 1 DOM

ⓘ 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: $17,871
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − HOA: −$4,740
• − Depreciation: −$3,200
• Taxable loss: −$1,290
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $566/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 · 12 photos

Fair 45/100 Moderate rehab

This corner single-story condo unit is in fair condition with moderate rehab needs. The flooring is in poor condition and requires replacement, while the exterior siding has some discoloration. Landscaping and curb appeal can be improved with some maintenance and updates.

Repairs flagged

• Major Flooring — Worn hardwood flooring
• Minor Exterior siding — Some discoloration

Value-add opportunities

• Both New flooring — Improves both resale and rental value
• Both Landscaping — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Flooring · Worn hardwood flooring	Major	$15,000–50,000
Exterior siding · Some discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both New flooring — Improves both resale and rental value ↑
• Both Landscaping — Enhances curb appeal and rental value ↑

ⓘ 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): 21,669
• Household income: $62,565
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 318.0

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 0.62)
• Race & ethnicity: White 53% Black 29% Two or more races 11% Hispanic / Latino 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 13% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -93.87%
• Current HPI: 130.56
• Rent YoY: ▲ 5.91%
• 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

2 events — show timeline

• 2026-06-03 Listed $110,000 AcadianaMLS
• 2026-06-03 Listed $110,000 GSREIN