350 Emerald Forest Blvd #9102 · Covington, LA 70433

$108,500

1 bd · 1.0 ba · 650 sqft · Condo public records · 174 Days on market

Built 2000 $167/sqft · 19% below area Est $133k · 19% under $535/mo HOA · 42% 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 +15.0/15.0
• 1% rule +6.8/10.0
• Cash flow +5.7/30.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated 1bd/1bth GROUND FLOOR Condo with DEDICATED COVERED CARPORT PARKING outside of front door! Enjoy Resort style living in gated community with easy access to I-12 & Causeway. Condo offers community center, library, gym, swimming pool, 1 spacious bedroom, 1 full bathroom, walk in closet, private covered patio, storage room, in unit washer/dryer, refrigerator & dedicated, covered carport parking near front door! Brand new vinyl plank flooring in main living/kitchen with GORGEOUS kitchen renovation including Quartz Countertops, refreshed cabinetry & stainless appliances. This is a one-of-a-kind condo community in West St. Tammany. Qualifies for 100% Financing through Rural Development. A commuters dream! Convenient location right off of Hwy 190 close to all amenities, shopping, restaurants. This unit is located on the ground floor that is also very private compared to the other condos. One of the most beautiful neighborhood pools in the area. Also club house with small gym. A MUST SEE! Make it yours today!

Key facts

• Gated community
• Ground floor condo
• Community center

Tags

• GROUND FLOOR CONDO
• DEDICATED COVERED CARPORT
• GATED COMMUNITY
• COMMUNITY CENTER
• GYM
• SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $70k (35.8% below list).
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $70k (35.8% 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.
• Zoned schools: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% FRL); Fontainebleau Junior High School (math 38% / reading 62%, grade C, #26 of 218 statewide, top 12%, 877 students, 37% FRL); Fontainebleau High School (math 56% / reading 61%, grade C, #23 of 265 statewide, top 9%, 1,677 students, 33% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 530 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $750 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 174 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $69,637 (35.8% 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 174 days. Have you received any prior offers? Is the seller open to a 36% 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: 1.18% ✓
• Cap rate: 3.86%
• Cash-on-cash: -8.69%
• DSCR: 0.61
• GRM: 7.0

CMA / ARV

• ARV (median comp): $133,318
• List price: $108,500
• Delta: -18.62%
• 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: -28.5%
• Equity multiple: 0.03×
• Total profit: $-29,564
• Equity at exit: $16,178

10-year hold

• IRR: -19.7%
• Equity multiple: -0.16×
• Total profit: $-35,282
• Equity at exit: $9,381

Cash invested: $30,380 (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: 530
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$569
• Tax from tax record: −$84 /mo · $1,010/yr
• Insurance: −$45
• HOA: −$535
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-220

Break-even live

Break-even rent $1,561

Max offer price $69,637

Occupancy floor —

Sensitivity live

Price	-10% $-159	-5% $-189	+0% $-220	+5% $-251	+10% $-281
Rent	-10% $-321	-5% $-271	+0% $-220	+5% $-169	+10% $-119
Rate	-1.0pp $-165	-0.5pp $-192	base $-220	+0.5pp $-248	+1.0pp $-277

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: $27,125
• Closing costs: $3,255
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	0.03mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,262	$1.93	3d	12	0.60mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,349	$1.57	4d	18	0.84mi
101 Holiday Square Blvd Covington, LA	1.0	1.0	500	$1,140	$2.28	16d	5	1.16mi
1612 Versailles Business Pkwy Covington, LA	1.0–2.0	1.0–2.0	1009	$1,343	$1.33	4d	31	1.31mi

HOA detail condo

• Monthly dues: $535 · $6,420/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-21
   days on market $108,500 Active 174 DOM
2. 2026-06-18
   days on market $108,500 Active 171 DOM
3. 2026-06-17
   days on market $108,500 Active 170 DOM
4. 2026-06-16
   days on market $108,500 Active 169 DOM
5. 2026-06-15
   days on market $108,500 Active 168 DOM
6. 2026-06-13
   days on market $108,500 Active 166 DOM
7. 2026-06-10
   days on market $108,500 Active 163 DOM
8. 2026-06-09
   days on market $108,500 Active 162 DOM
9. 2026-06-08
   days on market $108,500 Active 161 DOM
10. 2026-06-07
    days on market $108,500 Active 160 DOM
11. 2026-06-03
    days on market $108,500 Active 156 DOM
12. 2026-06-02
    days on market $108,500 Active 155 DOM
13. 2026-06-01
    days on market $108,500 Active 154 DOM
14. 2026-05-31
    days on market $108,500 Active 153 DOM
15. 2026-02-04
    price $108,500 1049-char remark

    Show marketing remark (1055 chars)

    Beautifully renovated 1bd/1bth GROUND FLOOR Condo with DEDICATED COVERED CARPORT PARKING outside of front door! Enjoy Resort style living in gated community with easy access to I-12 & Causeway. Condo offers community center, library, gym, swimming pool, 1 spacious bedroom, 1 full bathroom, walk in closet, private covered patio, storage room, in unit washer/dryer, refrigerator & dedicated, covered carport parking near front door! Brand new vinyl plank flooring in main living/kitchen with GORGEOUS kitchen renovation including Quartz Countertops, refreshed cabinetry & stainless appliances. This is a one-of-a-kind condo community in West St. Tammany. Qualifies for 100% Financing through Rural Development. A commuters dream! Convenient location right off of Hwy 190 close to all amenities, shopping, restaurants. This unit is located on the ground floor that is also very private compared to the other condos. One of the most beautiful neighborhood pools in the area. Also club house with small gym. A MUST SEE! Make it yours today!

16. 2026-02-04
    price $108,500 1055-char remark

    Show marketing remark (1055 chars)

    Beautifully renovated 1bd/1bth GROUND FLOOR Condo with DEDICATED COVERED CARPORT PARKING outside of front door! Enjoy Resort style living in gated community with easy access to I-12 & Causeway. Condo offers community center, library, gym, swimming pool, 1 spacious bedroom, 1 full bathroom, walk in closet, private covered patio, storage room, in unit washer/dryer, refrigerator & dedicated, covered carport parking near front door! Brand new vinyl plank flooring in main living/kitchen with GORGEOUS kitchen renovation including Quartz Countertops, refreshed cabinetry & stainless appliances. This is a one-of-a-kind condo community in West St. Tammany. Qualifies for 100% Financing through Rural Development. A commuters dream! Convenient location right off of Hwy 190 close to all amenities, shopping, restaurants. This unit is located on the ground floor that is also very private compared to the other condos. One of the most beautiful neighborhood pools in the area. Also club house with small gym. A MUST SEE! Make it yours today!

17. 2025-12-29
    listed $111,500 Active 1049-char remark

    Show marketing remark (1055 chars)

    Beautifully renovated 1bd/1bth GROUND FLOOR Condo with DEDICATED COVERED CARPORT PARKING outside of front door! Enjoy Resort style living in gated community with easy access to I-12 & Causeway. Condo offers community center, library, gym, swimming pool, 1 spacious bedroom, 1 full bathroom, walk in closet, private covered patio, storage room, in unit washer/dryer, refrigerator & dedicated, covered carport parking near front door! Brand new vinyl plank flooring in main living/kitchen with GORGEOUS kitchen renovation including Quartz Countertops, refreshed cabinetry & stainless appliances. This is a one-of-a-kind condo community in West St. Tammany. Qualifies for 100% Financing through Rural Development. A commuters dream! Convenient location right off of Hwy 190 close to all amenities, shopping, restaurants. This unit is located on the ground floor that is also very private compared to the other condos. One of the most beautiful neighborhood pools in the area. Also club house with small gym. A MUST SEE! Make it yours today!

18. 2025-12-29
    listed $111,500 Active 1055-char remark

    Show marketing remark (1055 chars)

    Beautifully renovated 1bd/1bth GROUND FLOOR Condo with DEDICATED COVERED CARPORT PARKING outside of front door! Enjoy Resort style living in gated community with easy access to I-12 & Causeway. Condo offers community center, library, gym, swimming pool, 1 spacious bedroom, 1 full bathroom, walk in closet, private covered patio, storage room, in unit washer/dryer, refrigerator & dedicated, covered carport parking near front door! Brand new vinyl plank flooring in main living/kitchen with GORGEOUS kitchen renovation including Quartz Countertops, refreshed cabinetry & stainless appliances. This is a one-of-a-kind condo community in West St. Tammany. Qualifies for 100% Financing through Rural Development. A commuters dream! Convenient location right off of Hwy 190 close to all amenities, shopping, restaurants. This unit is located on the ground floor that is also very private compared to the other condos. One of the most beautiful neighborhood pools in the area. Also club house with small gym. A MUST SEE! Make it yours today!

19. 2025-08-21
    price $115,500
20. 2025-08-21
    price $115,500
21. 2025-05-17
    price $118,500
22. 2025-05-17
    price $118,500
23. 2025-04-18
    listed $120,000 Active
24. 2023-06-23
    soldstatus $127,900 Closed
25. 2023-05-26
    historical Active Under Contract
26. 2023-04-19
    price $134,900
27. 2023-02-17
    listed $134,900
28. 2023-02-17
    listed $139,900 Active
29. 2017-03-29
    soldstatus $85,000 Sold
30. 2017-03-15
    status Under Contract
31. 2017-03-05
    historical Pending Continue to Show
32. 2017-01-11
    price $89,500
33. 2016-11-22
    status Active
34. 2016-11-12
    historical Pending Continue to Show
35. 2016-11-09
    listed $94,500 Active
36. 2016-11-09
    listed $89,500
37. 2014-12-30
    soldstatus $75,710
38. 2014-11-19
    listed $84,500
39. 2014-11-19
    listed $84,500

ⓘ 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: $1,010 · $84/mo
• Projected year-2 tax: $1,010 · $84/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: $15,393
• − Mortgage interest: −$6,078
• − Property taxes: −$1,010
• − Insurance: −$542
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − HOA: −$6,420
• − Depreciation: −$3,156
• Taxable loss: −$4,277
• Est. tax savings @ 24.0%: +$1,026
• After-tax cash flow: $-1,614/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

+28.4% since first listed

25 events — show timeline

• 2026-02-04 Price Changed $108,500 AcadianaMLS
• 2026-02-04 Price Changed $108,500 GSREIN
• 2025-12-29 Listed $111,500 GSREIN
• 2025-12-29 Listed $111,500 AcadianaMLS
• 2025-08-21 Price Changed $115,500 AcadianaMLS
• 2025-08-21 Price Changed $115,500 GSREIN
• 2025-05-17 Price Changed $118,500 AcadianaMLS
• 2025-05-17 Price Changed $118,500 GSREIN
• 2025-04-18 Listed $120,000 AcadianaMLS
• 2023-06-23 Sold (MLS) $127,900 GSREIN
• 2023-05-26 Contingent — GSREIN
• 2023-04-19 Price Changed $134,900 GSREIN
• 2023-02-17 Listed $139,900 GSREIN
• 2023-02-17 Listed $134,900 AcadianaMLS
• 2017-03-29 Sold (MLS) $85,000 GSREIN
• 2017-03-15 Pending — GSREIN
• 2017-03-05 Contingent — GSREIN
• 2017-01-11 Price Changed $89,500 GSREIN
• 2016-11-22 Relisted — GSREIN
• 2016-11-12 Contingent — GSREIN
• 2016-11-09 Listed $94,500 GSREIN
• 2016-11-09 Listed $89,500 AcadianaMLS
• 2014-12-30 Sold (MLS) $75,710 GSREIN
• 2014-11-19 Listed $84,500 AcadianaMLS
• 2014-11-19 Listed $84,500 GSREIN

Property tax history

+1.5%/yr

Latest (2021): $1,010 · +0.1% YoY. Source: county tax records.