2215 Teal St · Slidell, LA 70460

$199,000

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 101 Days on market

Built 2003 7,466 sqft lot Est $177k · 12% over

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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).

• Cash flow +18.1/30.0
• DSCR +5.7/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to easy living in this well-maintained 3-bedroom, 2-bath home located in Flood Zone C. Step inside to a comfortable layout featuring a new roof and no carpet throughout. The kitchen is the heart of the home and offers a center island with additional prep space and storage, awesome for quick meals, homework time, or entertaining guests. The living, dining, and kitchen areas flow effortlessly, creating a warm and functional space for everyday living. Out back, enjoy a covered patio great for morning coffee or evening beverages, with room for a hammock and swing chair. The fenced yard provides space for your fur family, while the storage shed is great for tools, bikes, or seasonal decor. Conveniently nearby to shopping, grocery stores, and restaurants. Qualifying for zero-down payment financing, this home is a great option for first-time buyers, downsizers, or investors. Move-in ready, let's schedule your showing today.

Key facts

• Fenced yard
• Covered patio
• Storage shed

Tags

• NEW ROOF
• CENTER ISLAND
• COVERED PATIO
• FENCED YARD
• STORAGE SHED

Property features AI

Exterior

• Parking: Driveway; Off-street parking; Two parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-story; Very good condition; Has home warranty; Slab foundation
• Construction: Vinyl siding; Shingle roof; Built on slab foundation
• Exterior features: Fenced yard; Covered patio/porch; Shed(s)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Has cooling; Has heating
• Interior features: Tray ceilings; Ceiling fans; Carbon monoxide detector; Pantry
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (12.2% below list).
• Recommended offer: $175k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 5.9% in Slidell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 ($181k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y 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 $131k; list at $199k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,740 (12.2% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.88% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.79%
• DSCR: 1.17
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $177,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2218 Teal St	0.03mi	3/2.0	1,262 (+1%)	3mo	$142,000	$113	94
2110 Mallard St	0.19mi	2/2.0 (-1)	1,266 (+1%)	1mo	$125,000	$99	83
2502 Mallard St	0.31mi	3/2.0	1,291 (+3%)	3mo	$172,000	$133	77
2116 Jay St	0.26mi	3/2.0	1,170 (-6%)	3mo	$202,500	$173	75
2406 Bluebird St	0.45mi	3/2.0	1,218 (-2%)	0mo	$175,000	$144	75
2402 Mallard St	0.20mi	3/2.0	1,361 (+9%)	3mo	$125,000	$92	73
2523 Bluebird St	0.55mi	3/2.0	1,222 (-2%)	2mo	$155,000	$127	69
2120 Oriole St	0.19mi	2/1.0 (-1)	1,164 (-7%)	2mo	$153,000	$131	69
2022 Mallard St	0.28mi	3/1.0	1,148 (-8%)	2mo	$165,000	$144	68
2514 Robin St	0.45mi	3/2.0	1,334 (+7%)	2mo	$190,000	$142	65
2517 Pelican St	0.49mi	3/2.0	1,367 (+10%)	1mo	$240,000	$176	60
2515 Pelican St	0.48mi	3/2.0	1,405 (+13%)	3mo	$235,000	$167	54

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 · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-15,861
• Equity at exit: $29,672

10-year hold

• IRR: 5.1%
• Equity multiple: 1.42×
• Total profit: $23,227
• Equity at exit: $17,206

Cash invested: $55,720 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,747 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$78 /mo · $937/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $176

Break-even live

Break-even rent $1,525

Max offer price $199,000

Occupancy floor 85%

Sensitivity live

Price	-10% $288	-5% $232	+0% $176	+5% $120	+10% $63
Rent	-10% $38	-5% $107	+0% $176	+5% $245	+10% $314
Rate	-1.0pp $276	-0.5pp $226	base $176	+0.5pp $124	+1.0pp $72

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.14mi
2402 Pelican St Slidell, LA	3.0	2.0	1400	$1,700	$1.21	24d	1	0.37mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	24d	1	0.56mi

Listing history 17 events

1. 2026-06-18
   days on market $199,000 Active 101 DOM
2. 2026-06-17
   days on market $199,000 Active 100 DOM
3. 2026-06-16
   days on market $199,000 Active 99 DOM
4. 2026-05-16
   status Active 943-char remark

   Show marketing remark (943 chars)

   Welcome home to easy living in this well-maintained 3-bedroom, 2-bath home located in Flood Zone C. Step inside to a comfortable layout featuring a new roof and no carpet throughout. The kitchen is the heart of the home and offers a center island with additional prep space and storage, awesome for quick meals, homework time, or entertaining guests. The living, dining, and kitchen areas flow effortlessly, creating a warm and functional space for everyday living. Out back, enjoy a covered patio great for morning coffee or evening beverages, with room for a hammock and swing chair. The fenced yard provides space for your fur family, while the storage shed is great for tools, bikes, or seasonal decor. Conveniently nearby to shopping, grocery stores, and restaurants. Qualifying for zero-down payment financing, this home is a great option for first-time buyers, downsizers, or investors. Move-in ready, let's schedule your showing today.

5. 2026-05-16
   status Active

   Show marketing remark (943 chars)

   Welcome home to easy living in this well-maintained 3-bedroom, 2-bath home located in Flood Zone C. Step inside to a comfortable layout featuring a new roof and no carpet throughout. The kitchen is the heart of the home and offers a center island with additional prep space and storage, awesome for quick meals, homework time, or entertaining guests. The living, dining, and kitchen areas flow effortlessly, creating a warm and functional space for everyday living. Out back, enjoy a covered patio great for morning coffee or evening beverages, with room for a hammock and swing chair. The fenced yard provides space for your fur family, while the storage shed is great for tools, bikes, or seasonal decor. Conveniently nearby to shopping, grocery stores, and restaurants. Qualifying for zero-down payment financing, this home is a great option for first-time buyers, downsizers, or investors. Move-in ready, let's schedule your showing today.

6. 2026-04-23
   historical
7. 2026-04-21
   status Active 943-char remark

   Show marketing remark (943 chars)

   Welcome home to easy living in this well-maintained 3-bedroom, 2-bath home located in Flood Zone C. Step inside to a comfortable layout featuring a new roof and no carpet throughout. The kitchen is the heart of the home and offers a center island with additional prep space and storage, awesome for quick meals, homework time, or entertaining guests. The living, dining, and kitchen areas flow effortlessly, creating a warm and functional space for everyday living. Out back, enjoy a covered patio great for morning coffee or evening beverages, with room for a hammock and swing chair. The fenced yard provides space for your fur family, while the storage shed is great for tools, bikes, or seasonal decor. Conveniently nearby to shopping, grocery stores, and restaurants. Qualifying for zero-down payment financing, this home is a great option for first-time buyers, downsizers, or investors. Move-in ready, let's schedule your showing today.

8. 2026-01-27
   listed $199,000 Active 943-char remark

   Show marketing remark (943 chars)

   Welcome home to easy living in this well-maintained 3-bedroom, 2-bath home located in Flood Zone C. Step inside to a comfortable layout featuring a new roof and no carpet throughout. The kitchen is the heart of the home and offers a center island with additional prep space and storage, awesome for quick meals, homework time, or entertaining guests. The living, dining, and kitchen areas flow effortlessly, creating a warm and functional space for everyday living. Out back, enjoy a covered patio great for morning coffee or evening beverages, with room for a hammock and swing chair. The fenced yard provides space for your fur family, while the storage shed is great for tools, bikes, or seasonal decor. Conveniently nearby to shopping, grocery stores, and restaurants. Qualifying for zero-down payment financing, this home is a great option for first-time buyers, downsizers, or investors. Move-in ready, let's schedule your showing today.

9. 2026-01-24
   listed $199,000 Active
10. 2008-01-04
    soldstatus $131,000
11. 2007-12-28
    soldstatus $131,000 410-char remark

    Show marketing remark (410 chars)

    Great newer house - only 4 years old - with open floor plan. Vaulted ceiling in living room. Kitchen has island and lots of cabinets & counter space. Tray ceiling in master suite. Large private backyard - no neighbors directly behind. Back patio is 23' X 12' and has a pitched shingle roof. Wood burning fireplace in living room with fluted molding and very attractive mantle. NO FLOODING from KATRINA!!!

12. 2007-10-15
    listed $136,500 410-char remark

    Show marketing remark (410 chars)

    Great newer house - only 4 years old - with open floor plan. Vaulted ceiling in living room. Kitchen has island and lots of cabinets & counter space. Tray ceiling in master suite. Large private backyard - no neighbors directly behind. Back patio is 23' X 12' and has a pitched shingle roof. Wood burning fireplace in living room with fluted molding and very attractive mantle. NO FLOODING from KATRINA!!!

13. 2007-10-15
    listed $136,500

    Show marketing remark (410 chars)

    Great newer house - only 4 years old - with open floor plan. Vaulted ceiling in living room. Kitchen has island and lots of cabinets & counter space. Tray ceiling in master suite. Large private backyard - no neighbors directly behind. Back patio is 23' X 12' and has a pitched shingle roof. Wood burning fireplace in living room with fluted molding and very attractive mantle. NO FLOODING from KATRINA!!!

14. 2003-06-03
    soldstatus $89,250
15. 2003-05-28
    soldstatus $89,250
16. 2003-03-19
    listed $86,900
17. 2003-03-19
    listed $86,900

ⓘ 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: $937 · $78/mo
• Projected year-2 tax: $1,094 · $91/mo
• Expected delta: +$157/yr (+$13/mo · 16.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $20,969
• − Mortgage interest: −$11,147
• − Property taxes: −$937
• − Insurance: −$995
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − Depreciation: −$5,789
• Taxable loss: −$1,255
• Est. tax savings @ 24.0%: +$301
• After-tax cash flow: $2,411/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): 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

+129.0% since first listed

14 events — show timeline

• 2026-05-16 Relisted — AcadianaMLS
• 2026-05-16 Relisted — GSREIN
• 2026-04-23 Listing Removed — GSREIN
• 2026-04-21 Relisted — AcadianaMLS
• 2026-01-27 Listed $199,000 AcadianaMLS
• 2026-01-24 Listed $199,000 GSREIN
• 2008-01-04 Sold (Public Records) $131,000 Public Records
• 2007-12-28 Sold (MLS) $131,000 GSREIN
• 2007-10-15 Listed $136,500 AcadianaMLS
• 2007-10-15 Listed $136,500 GSREIN
• 2003-06-03 Sold (Public Records) $89,250 Public Records
• 2003-05-28 Sold (MLS) $89,250 GSREIN
• 2003-03-19 Listed $86,900 AcadianaMLS
• 2003-03-19 Listed $86,900 GSREIN

Property tax history

-5.2%/yr

Latest (2025): $937 · -3.8% YoY. Source: county tax records.