1408 Audubon Pkwy · Covington, LA 70447

$319,900

3 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 108 Days on market

Built 2020 $200/sqft · 18% below area Est $392k · 18% under $100/mo HOA · 4% 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
• Cash flow +10.3/30.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• DSCR +2.9/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you're hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home's inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you'll love the elegant touch of the tray ceiling and the private primary bath--complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

Key facts

• Garage
• Built 2020
• Listed 108 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-303 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (21.7% below list).
• Recommended offer: $251k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.9% in Covington — 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 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: Joseph B. Lancaster Elementary School (math 58% / reading 73%, grade B+, #38 of 646 statewide, top 6%, 1,505 students, 21% FRL); Madisonville Junior High School (math 41% / reading 58%, grade C, #28 of 218 statewide, top 13%, 655 students, 21% FRL); Mandeville High School (math 59% / reading 63%, grade C+, #19 of 265 statewide, top 7%, 2,259 students, 22% FRL) — zoned schools average 21% FRL vs 40% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 249 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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 108 days — a 9% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $23k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $264k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major 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 $250,619 (21.7% 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 108 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 0.78% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 10.6

CMA / ARV

• ARV (median comp): $391,641
• List price: $319,900
• Delta: -18.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3021 Lost Lake Ln	0.32mi	3/2.0	1,600 (0%)	14mo	$310,900	$194	74
1357 Audubon Pkwy	0.14mi	3/2.0	1,665 (+4%)	16mo	$309,999	$186	73
5013 Scotts Bayou Ln	0.27mi	4/2.0 (+1)	1,742 (+9%)	23mo	$335,990	$193	49
1277 Deer Park Ct	0.52mi	3/3.0	1,818 (+14%)	5mo	$339,000	$186	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.1%
• Equity multiple: 0.21×
• Total profit: $-71,065
• Equity at exit: $47,698

10-year hold

• IRR: -17.6%
• Equity multiple: 0.04×
• Total profit: $-86,413
• Equity at exit: $27,659

Cash invested: $89,572 (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 70447

• Home prices YoY: -28.1%
• Active inventory: 249
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,506 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$247 /mo · $2,964/yr
• Insurance: −$133
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$100
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $-303

Break-even live

Break-even rent $2,890

Max offer price $266,341

Occupancy floor —

Sensitivity live

Price	-10% $-122	-5% $-213	+0% $-303	+5% $-394	+10% $-484
Rent	-10% $-501	-5% $-402	+0% $-303	+5% $-204	+10% $-105
Rate	-1.0pp $-142	-0.5pp $-222	base $-303	+0.5pp $-386	+1.0pp $-470

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5033 Scotts Bayou Ln Madisonville, LA	4.0	3.0	2243	$3,000	$1.34	46d	1	0.32mi

HOA detail

• Monthly dues: $100 · $1,200/yr
• Likely covers: gaspoolsecurity

Listing history 28 events

1. 2026-06-21
   days on market $319,900 Active 108 DOM
2. 2026-06-18
   days on market $319,900 Active 105 DOM
3. 2026-06-17
   days on market $319,900 Active 104 DOM
4. 2026-06-16
   days on market $319,900 Active 103 DOM
5. 2026-06-15
   days on market $319,900 Active 102 DOM
6. 2026-06-13
   days on market $319,900 Active 100 DOM
7. 2026-06-10
   days on market $319,900 Active 97 DOM
8. 2026-06-09
   days on market $319,900 Active 96 DOM
9. 2026-06-08
   days on market $319,900 Active 95 DOM
10. 2026-06-07
    days on market $319,900 Active 94 DOM
11. 2026-06-03
    days on market $319,900 Active 90 DOM
12. 2026-06-02
    days on market $319,900 Active 89 DOM
13. 2026-06-01
    days on market $319,900 Active 88 DOM
14. 2026-05-31
    days on market $319,900 Active 87 DOM
15. 2026-04-13
    price $319,900 1399-char remark

    Show marketing remark (1422 chars)

    Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you’re hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home’s inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you’ll love the elegant touch of the tray ceiling and the private primary bath—complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

16. 2026-04-13
    price $319,900 1422-char remark

    Show marketing remark (1422 chars)

    Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you’re hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home’s inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you’ll love the elegant touch of the tray ceiling and the private primary bath—complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

17. 2026-03-22
    price $330,000 1399-char remark

    Show marketing remark (1422 chars)

    Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you’re hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home’s inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you’ll love the elegant touch of the tray ceiling and the private primary bath—complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

18. 2026-03-22
    price $330,000 1422-char remark

    Show marketing remark (1422 chars)

    Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you’re hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home’s inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you’ll love the elegant touch of the tray ceiling and the private primary bath—complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

19. 2026-03-05
    listed $343,000 Active 1399-char remark

    Show marketing remark (1422 chars)

    Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you’re hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home’s inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you’ll love the elegant touch of the tray ceiling and the private primary bath—complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

20. 2026-03-05
    listed $343,000 Active 1422-char remark

    Show marketing remark (1422 chars)

    Welcome to this beautiful 3-bedroom, 2-bathroom home at 1408 Audubon Parkway, where you will immediately feel a sense of space created by the soaring high ceilings in the open living and dining areas. With 1,600 sq. ft. of thoughtfully designed living space, this home is great for those who love a layout that keeps everyone connected, all nestled within the wonderful Madisonville School district. The living area serves as the perfect centerpiece, featuring a warm gas-burning fireplace that adds a touch of comfort and ambiance to the expansive room. Whether you’re hosting a dinner party or enjoying a quiet evening, the glow of the hearth enhances the home’s inviting atmosphere. The heart of the home leads you to three cozy bedrooms, including a true primary retreat where you’ll love the elegant touch of the tray ceiling and the private primary bath—complete with double vanities, a dedicated WC, a spacious walk-in shower, and a large walk-in closet. Life here extends well beyond your front door in this premier gated/golf cart community. Residents enjoy access to two swimming pools, ponds for fishing, and a 3-mile paved path for walks or runs, all set against the backdrop of 300+ acres of stunning nature preserve. For those with an adventurous spirit, there is even the added convenience of renting a spot in the RV/boat storage units located right at the front of the subdivision.

21. 2020-05-13
    soldstatus Sold
22. 2020-05-13
    soldstatus $263,533 Closed
23. 2020-01-27
    historical
24. 2020-01-27
    listed $266,865
25. 2020-01-27
    listed $266,865
26. 2019-11-21
    status Pending
27. 2019-11-21
    listed $266,865 Active
28. 2019-11-21
    listed $266,865

ⓘ 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: $2,964 · $247/mo
• Projected year-2 tax: $2,964 · $247/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 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,074
• − Mortgage interest: −$17,919
• − Property taxes: −$2,964
• − Insurance: −$3,102
• − Repairs & maintenance: −$2,406
• − Management: −$2,406
• − HOA: −$1,200
• − Depreciation: −$9,306
• Taxable loss: −$9,229
• Est. tax savings @ 24.0%: +$2,215
• After-tax cash flow: $-1,423/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): 17,897
• Household income: $122,574
• Rent vs Own: 4.0% rent · 96.0% own
• Severe rent burden: 47.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 19% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -68.07%
• Current HPI: 174.0804
• Rent YoY: —
• 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

+19.9% since first listed

14 events — show timeline

• 2026-04-13 Price Changed $319,900 AcadianaMLS
• 2026-04-13 Price Changed $319,900 GSREIN
• 2026-03-22 Price Changed $330,000 AcadianaMLS
• 2026-03-22 Price Changed $330,000 GSREIN
• 2026-03-05 Listed $343,000 GSREIN
• 2026-03-05 Listed $343,000 AcadianaMLS
• 2020-05-13 Sold (MLS) $263,533 GSREIN
• 2020-05-13 Sold (MLS) — GBRMLS
• 2020-01-27 Listed $266,865 AcadianaMLS
• 2020-01-27 Listed $266,865 GSREIN
• 2020-01-27 Listing Removed — GSREIN
• 2019-11-21 Pending — GBRMLS
• 2019-11-21 Listed $266,865 AcadianaMLS
• 2019-11-21 Listed $266,865 GBRMLS

Property tax history

+43.1%/yr

Latest (2025): $2,964 · -2.4% YoY. Source: county tax records.