16500 Mp Planche Rd · Covington, LA 70435

$250,000

3 bd · 2.0 ba · 1,491 sqft · SingleFamily public records · 79 Days on market

Built 2008 0.55 ac lot $168/sqft · 13% below area Est $286k · 12% under

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Why this score? — see what drove the C- 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 +18.7/30.0
• ARV discount +13.1/15.0
• DSCR +5.9/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bed, 2 Bath home on half acre lot in just outside of Covington city limits. Open kitchen, living, and dining area. Wood laminate floors in living area, and in bedrooms. Attached carport which can double as entertaining space. Refrigerator, washer and dryer included. All electric. Water is on well so no added water bill.

Key facts

• Attached carport
• Water on well
• Wood laminate floors

Tags

• OPEN KITCHEN
• LIVING AND DINING AREA
• WOOD LAMINATE FLOORS
• ATTACHED CARPORT
• WATER ON WELL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/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 $231k (7.7% below list).
• Recommended offer: $231k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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.
• Market conditions: 365 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $8k 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 79 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 11 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

• Climate carrying-cost: 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 $230,663 (7.7% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 8% 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. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

• ARV (median comp): $285,671
• List price: $250,000
• Delta: -12.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75705 Rickelin Dr	0.05mi	3/2.0	1,470 (-1%)	4mo	$262,000	$178	92
16518 Mp Planche Rd	0.04mi	3/2.0	1,574 (+6%)	6mo	$315,000	$200	84
16937 River Park Dr	0.30mi	3/2.0	1,522 (+2%)	14mo	$254,745	$167	70
72421 Victoria Dr	0.19mi	3/2.0	1,601 (+7%)	12mo	$257,755	$161	69
16925 River Park Dr	0.32mi	3/2.0	1,522 (+2%)	20mo	$251,580	$165	65
75616 Sylvia Dr	0.10mi	3/2.0	1,300 (-13%)	11mo	$240,000	$185	65
75425 Victoria Dr	0.22mi	3/2.0	1,629 (+9%)	14mo	$262,395	$161	62
16713 Highland Heights Dr	0.20mi	3/2.0	1,292 (-13%)	11mo	$230,000	$178	59
75312 Sydney Dr	0.25mi	3/2.0	1,629 (+9%)	19mo	$259,595	$159	57
75416 Victoria Dr	0.19mi	3/2.0	1,689 (+13%)	15mo	$269,075	$159	57
75424 Victoria Dr	0.20mi	3/2.0	1,689 (+13%)	15mo	$266,200	$158	56
75436 Victoria Dr	0.23mi	3/2.0	1,689 (+13%)	19mo	$265,565	$157	51

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: -9.7%
• Equity multiple: 0.65×
• Total profit: $-24,845
• Equity at exit: $37,276

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,627
• Equity at exit: $21,615

Cash invested: $70,000 (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 70435

• Home prices YoY: -27.3%
• Active inventory: 365
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,307 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $247

Break-even live

Break-even rent $1,994

Max offer price $250,000

Occupancy floor 84%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
75736 Rickelin Dr Covington, LA	3.0	2.0	1781	$2,095	$1.18	43d	1	0.13mi
75533 Joyce Dr Covington, LA	3.0	2.0	1825	$2,150	$1.18	43d	1	0.18mi

Listing history 38 events

1. 2026-06-18
   days on market $250,000 Active 79 DOM
2. 2026-06-17
   days on market $250,000 Active 78 DOM
3. 2026-06-16
   days on market $250,000 Active 77 DOM
4. 2026-06-15
   days on market $250,000 Active 76 DOM
5. 2026-06-13
   days on market $250,000 Active 74 DOM
6. 2026-06-10
   days on market $250,000 Active 71 DOM
7. 2026-06-09
   days on market $250,000 Active 70 DOM
8. 2026-06-08
   days on market $250,000 Active 69 DOM
9. 2026-06-07
   pricedays on market $250,000 Active 68 DOM
10. 2026-06-03
    days on market $255,000 Active 64 DOM
11. 2026-06-02
    days on market $255,000 Active 63 DOM
12. 2026-06-01
    days on market $255,000 Active 62 DOM
13. 2026-05-31
    days on market $255,000 Active 61 DOM
14. 2026-04-20
    price $255,000 323-char remark

    Show marketing remark (323 chars)

    3 Bed, 2 Bath home on half acre lot in just outside of Covington city limits. Open kitchen, living, and dining area. Wood laminate floors in living area, and in bedrooms. Attached carport which can double as entertaining space. Refrigerator, washer and dryer included. All electric. Water is on well so no added water bill.

15. 2026-04-20
    price $255,000 323-char remark

    Show marketing remark (323 chars)

    3 Bed, 2 Bath home on half acre lot in just outside of Covington city limits. Open kitchen, living, and dining area. Wood laminate floors in living area, and in bedrooms. Attached carport which can double as entertaining space. Refrigerator, washer and dryer included. All electric. Water is on well so no added water bill.

16. 2026-03-31
    listed $260,000 Active 323-char remark

    Show marketing remark (323 chars)

    3 Bed, 2 Bath home on half acre lot in just outside of Covington city limits. Open kitchen, living, and dining area. Wood laminate floors in living area, and in bedrooms. Attached carport which can double as entertaining space. Refrigerator, washer and dryer included. All electric. Water is on well so no added water bill.

17. 2026-03-31
    listed $260,000 Active 323-char remark

    Show marketing remark (323 chars)

    3 Bed, 2 Bath home on half acre lot in just outside of Covington city limits. Open kitchen, living, and dining area. Wood laminate floors in living area, and in bedrooms. Attached carport which can double as entertaining space. Refrigerator, washer and dryer included. All electric. Water is on well so no added water bill.

18. 2025-06-17
    historical $1,750
19. 2025-06-12
    listed $1,750
20. 2021-08-16
    soldstatus $235,000
21. 2021-08-13
    soldstatus $235,000 Closed
22. 2021-07-20
    status Pending
23. 2021-07-13
    listed $235,000 Active
24. 2021-07-13
    listed $235,000
25. 2020-09-14
    soldstatus $175,000
26. 2020-09-11
    soldstatus $175,000 Closed
27. 2020-07-10
    status Pending
28. 2020-07-07
    listed $169,900
29. 2020-07-07
    listed $169,900 Active
30. 2016-10-14
    soldstatus $147,500 Sold
31. 2016-10-11
    status Under Contract
32. 2016-09-22
    historical Pending Continue to Show
33. 2016-09-07
    price $159,900
34. 2016-07-20
    listed $166,500 Active
35. 2016-07-20
    listed $159,900
36. 2014-08-14
    soldstatus $130,000
37. 2014-04-18
    listed $128,500
38. 2014-04-18
    listed $128,500

ⓘ 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: $1,922 · $160/mo
• Projected year-2 tax: $1,922 · $160/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 4/10 Moderate FEMA zone X · 22% 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: $27,680
• − Mortgage interest: −$14,004
• − Property taxes: −$1,922
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,214
• − Management: −$2,214
• − Depreciation: −$7,273
• Taxable loss: −$1,198
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $3,250/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): 22,475
• Household income: $80,926
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 296.0

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% Black 9% Two or more races 4% Hispanic / Latino 3% Pacific Islander 2%
• Common ancestry: Lithuanian 15% Serbian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -76.03%
• Current HPI: 202.0458
• 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

+98.4% since first listed

25 events — show timeline

• 2026-04-20 Price Changed $255,000 AcadianaMLS
• 2026-04-20 Price Changed $255,000 GSREIN
• 2026-03-31 Listed $260,000 GSREIN
• 2026-03-31 Listed $260,000 AcadianaMLS
• 2025-06-17 Rental Removed $1,750 GSREIN
• 2025-06-12 Listed for Rent $1,750 GSREIN
• 2021-08-16 Sold (Public Records) $235,000 Public Records
• 2021-08-13 Sold (MLS) $235,000 GSREIN
• 2021-07-20 Pending — GSREIN
• 2021-07-13 Listed $235,000 AcadianaMLS
• 2021-07-13 Listed $235,000 GSREIN
• 2020-09-14 Sold (Public Records) $175,000 Public Records
• 2020-09-11 Sold (MLS) $175,000 GSREIN
• 2020-07-10 Pending — GSREIN
• 2020-07-07 Listed $169,900 GSREIN
• 2020-07-07 Listed $169,900 AcadianaMLS
• 2016-10-14 Sold (MLS) $147,500 GSREIN
• 2016-10-11 Pending — GSREIN
• 2016-09-22 Contingent — GSREIN
• 2016-09-07 Price Changed $159,900 GSREIN
• 2016-07-20 Listed $166,500 GSREIN
• 2016-07-20 Listed $159,900 AcadianaMLS
• 2014-08-14 Sold (MLS) $130,000 GSREIN
• 2014-04-18 Listed $128,500 AcadianaMLS
• 2014-04-18 Listed $128,500 GSREIN

Property tax history

+1.9%/yr

Latest (2025): $1,922 · +71.2% YoY. Source: county tax records.