465 Ridgewood Loop · Mandeville, LA 70471

$234,500

3 bd · 2.0 ba · 1,800 sqft · SingleFamily public records · 107 Days on market

Built 1996 8,276 sqft lot $130/sqft · 14% below area Est $302k · 22% under

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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 +13.5/30.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent location in Mandeville with easy access to Causeway, Interstate, shopping, restaurants, and more! 3 bedroom, 2 bath home with bonus room. Stone counters, and large fenced back yard with storage shed.

Key facts

• Storage shed
• Excellent location
• 8,276 sq ft lot

Tags

• EXCELLENT LOCATION
• LARGE FENCED BACK YARD
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $8 ($96/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 $191k (18.4% below list).
• Recommended offer: $191k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.4% in Mandeville — 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 77/100 on livability (#13 in LA, #3,224 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: Pontchartrain Elementary School (math 82% / reading 82%, grade A+, #9 of 646 statewide, top 1%, 748 students, 22% FRL); Tchefuncte Middle School (math 65% / reading 71%, grade A-, #5 of 218 statewide, top 2%, 697 students, 24% FRL); Mandeville High School (math 59% / reading 63%, grade C+, #19 of 265 statewide, top 7%, 2,259 students, 22% FRL) — zoned schools average 23% FRL vs 40% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 49% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the St. Tammany Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.3%/yr); 231 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 107 days — a 9% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 29y 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 $72k; list at $234k implies a 226% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,422 (18.4% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 18% 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 A-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: 0.82% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• GRM: 10.2

CMA / ARV

• ARV (median comp): $301,891
• List price: $234,500
• Delta: -22.32%
• 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
308 Woodridge Blvd	0.12mi	3/2.0	1,790 (-1%)	6mo	$225,000	$126	88
635 Ridgewood Loop	0.10mi	4/2.0 (+1)	1,670 (-7%)	1mo	$28,000	$17	78
755 Ridgewood Loop	0.15mi	3/2.0	1,554 (-14%)	3mo	$228,000	$147	68
625 Woodridge Blvd	0.33mi	3/2.0	1,911 (+6%)	8mo	$329,000	$172	68
625 Ridgewood Dr	0.09mi	4/3.0 (+1)	1,927 (+7%)	8mo	$237,000	$123	68
401 Water Oak Ln	0.07mi	3/2.0	2,065 (+15%)	8mo	$275,000	$133	65
608 Holm Oak Ln	0.37mi	4/3.0 (+1)	1,917 (+6%)	2mo	$232,000	$121	62
516 Laurel Oak Dr	0.17mi	4/2.0 (+1)	2,052 (+14%)	3mo	$260,000	$127	61
609 Red Oak Dr	0.27mi	3/2.5	2,065 (+15%)	2mo	$275,000	$133	59
220 Forest Loop	0.33mi	3/2.0	1,559 (-13%)	8mo	$245,000	$157	55
403 Evergreen Dr	0.35mi	4/2.0 (+1)	1,977 (+10%)	8mo	$348,000	$176	55
385 Jasmine Dr	0.67mi	4/2.0 (+1)	2,012 (+12%)	7mo	$420,000	$209	38

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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-36,916
• Equity at exit: $34,965

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-29,113
• Equity at exit: $20,275

Cash invested: $65,660 (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 70471

• Home prices YoY: -29.2%
• Rents YoY: 3.3%
• Active inventory: 231
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,914 high
• Mortgage (P&I): −$1,230
• Tax from tax record: −$177 /mo · $2,122/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $8

Break-even live

Break-even rent $1,904

Max offer price $234,500

Occupancy floor 95%

Sensitivity live

Price	-10% $141	-5% $74	+0% $8	+5% $-58	+10% $-125
Rent	-10% $-143	-5% $-68	+0% $8	+5% $84	+10% $159
Rate	-1.0pp $126	-0.5pp $68	base $8	+0.5pp $-53	+1.0pp $-115

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: $58,625
• Closing costs: $7,035
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Aries Dr Mandeville, LA	2.0	1.5–2.5	1400	$2,020	$1.44	4d	2	0.09mi
500 Aries Dr Unit 4B Mandeville, LA	2.0	1.5	1400	$2,400	$1.71	45d	1	0.09mi
736 Heavens Dr #8 Mandeville, LA	2.0	1.5	1300	$1,400	$1.08	45d	1	0.11mi
740 Heavens Dr #10 Mandeville, LA	3.0	2.5	1296	$1,800	$1.39	18d	1	0.11mi
708 Heavens Dr Apt E Mandeville, LA	3.0	2.5	1603	$1,895	$1.18	45d	1	0.21mi
310 Audubon Dr Mandeville, LA	4.0	2.0	1370	$1,800	$1.31	5d	1	0.24mi
4840 Highway 22 Mandeville, LA	2.0–3.0	2.0	1341	$1,750	$1.30	45d	1	0.28mi
509 Cedarwood Dr #509 Mandeville, LA	3.0	2.5	1320	$1,675	$1.27	25d	1	0.45mi
626 Village Ln S Unit A Mandeville, LA	3.0	2.5	2008	$2,200	$1.10	45d	1	0.68mi
904 Winona Dr Mandeville, LA	4.0	2.5	2357	$3,000	$1.27	45d	1	0.73mi
32 S Court Villa Dr #32 Mandeville, LA	2.0	2.0	1285	$2,200	$1.71	45d	1	0.83mi
200 Chapel Crk Mandeville, LA	1.0–3.0	1.0–2.0	1175	$1,676	$1.43	3d	11	0.93mi

Listing history 25 events

1. 2026-06-21
   days on market $234,500 Active 107 DOM
2. 2026-06-18
   days on market $234,500 Active 104 DOM
3. 2026-06-17
   days on market $234,500 Active 103 DOM
4. 2026-06-16
   days on market $234,500 Active 102 DOM
5. 2026-06-15
   days on market $234,500 Active 101 DOM
6. 2026-06-13
   days on market $234,500 Active 99 DOM
7. 2026-06-10
   days on market $234,500 Active 96 DOM
8. 2026-06-09
   days on market $234,500 Active 95 DOM
9. 2026-06-08
   days on market $234,500 Active 94 DOM
10. 2026-06-08
    price $234,500 Active 93 DOM
11. 2026-06-07
    days on market $239,500 Active 93 DOM
12. 2026-06-03
    days on market $239,500 Active 89 DOM
13. 2026-06-02
    days on market $239,500 Active 88 DOM
14. 2026-06-01
    days on market $239,500 Active 87 DOM
15. 2026-05-31
    days on market $239,500 Active 86 DOM
16. 2026-03-06
    listed $239,500 Active 209-char remark

    Show marketing remark (209 chars)

    Excellent location in Mandeville with easy access to Causeway, Interstate, shopping, restaurants, and more! 3 bedroom, 2 bath home with bonus room. Stone counters, and large fenced back yard with storage shed.

17. 2026-03-06
    listed $239,500 Active 209-char remark

    Show marketing remark (209 chars)

    Excellent location in Mandeville with easy access to Causeway, Interstate, shopping, restaurants, and more! 3 bedroom, 2 bath home with bonus room. Stone counters, and large fenced back yard with storage shed.

18. 2025-09-19
    historical $1,900
19. 2025-09-09
    price $1,900
20. 2025-07-30
    price $2,000
21. 2025-01-07
    listed $2,200
22. 1998-02-10
    soldstatus $72,000
23. 1998-02-06
    soldstatus $72,000
24. 1997-10-08
    listed $75,000
25. 1997-10-08
    listed $75,000

ⓘ 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: $2,122 · $177/mo
• Projected year-2 tax: $2,122 · $177/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 6/10 Major FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°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: $22,971
• − Mortgage interest: −$13,136
• − Property taxes: −$2,122
• − Insurance: −$1,172
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$6,822
• Taxable loss: −$3,956
• Est. tax savings @ 24.0%: +$950
• After-tax cash flow: $1,045/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

Amenities F Commute F Cost of living C 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: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 24,199
• Household income: $96,501
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 475.0

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 8% Hispanic / Latino 8% Asian 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 15% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -77.41%
• Current HPI: 188.0159
• Rent YoY: ▲ 3.32%
• 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

+219.3% since first listed

10 events — show timeline

• 2026-03-06 Listed $239,500 AcadianaMLS
• 2026-03-06 Listed $239,500 GSREIN
• 2025-09-19 Rental Removed $1,900 GSREIN
• 2025-09-09 Price Changed $1,900 GSREIN
• 2025-07-30 Price Changed $2,000 GSREIN
• 2025-01-07 Listed for Rent $2,200 GSREIN
• 1998-02-10 Sold (Public Records) $72,000 Public Records
• 1998-02-06 Sold (MLS) $72,000 GSREIN
• 1997-10-08 Listed $75,000 AcadianaMLS
• 1997-10-08 Listed $75,000 GSREIN

Property tax history

+0.5%/yr

Latest (2025): $2,122 · -3.6% YoY. Source: county tax records.