Cherry Plan · Slidell, LA 70461

$244,900

3 bd · 2.0 ba · 1,392 sqft · SingleFamily · 157 Days on market

Excellent condition

---

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 +8.2/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 1% rule +2.5/10.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Introducing The Cherry, a beautifully designed single-story new construction home offering 4 bedrooms, 2 bathrooms, and a 1-car garage across 1,392 square feet of functional living space. This thoughtful layout is perfect for families, first-time homebuyers, and those seeking a smart, efficient floor plan in Bonterra, Slidell, La. Step inside from the welcoming front porch into a bright foyer that leads you toward the heart of the home. The Cherry features an open-concept living, dining, and kitchen area, creating a comfortable and inviting space for daily living and entertaining. The modern kitchen includes a spacious island overlooking the living room, a walk-in pantry, and easy access to the dining area. Homebuyers will appreciate the stainless steel appliances-including stove, microwave hood, and dishwasher-paired with beautiful 3 cm granite countertops throughout, combining style, durability, and functionality. The primary bedroom suite, conveniently located toward the rear of the home, offers a peaceful retreat with a large walk-in closet and a well-appointed private bathroom featuring dual sinks and linen storage. Three additional bedrooms are thoughtfully placed near the front of the home, along with a secondary full bathroom, providing flexibility for children, guests, a home office, or hobby space. A covered back patio extends your living area outdoors, ideal for morning coffee, weekend grilling, or evening relaxation. With its smart layout, efficient design

Key facts

• Spacious island
• Granite countertops
• Open-concept living

Tags

• NEW CONSTRUCTION HOME
• OPEN-CONCEPT LIVING
• SPACIOUS ISLAND
• WALK-IN PANTRY
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS

🏗️ New construction. The $244,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $273,980.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-260 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (15.6% below list).
• Recommended offer: $207k (15.6% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Cypress Cove Elementary School (657 students, 53% FRL); Little Oak Middle School (math 50% / reading 58%, grade B-, #19 of 218 statewide, top 9%, 929 students, 41% FRL); Northshore High School (math 53% / reading 61%, grade C, #25 of 265 statewide, top 9%, 1,681 students, 32% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: Rents rising (+1.7%/yr); 594 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $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 157 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Recommended offer $206,802 (15.6% 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 157 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• GRM: 11.0

CMA / ARV

• ARV (median comp): $273,980
• List price: $244,900
• Delta: -10.61%
• 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
40547 Cara Mae St	0.19mi	3/2.0	1,392 (0%)	0mo	$244,900	$176	91
40698 Cara Mae Dr	0.06mi	4/2.0 (+1)	1,555 (+12%)	0mo	$282,900	$182	72
40669 Cara Mae St	0.18mi	3/2.0	1,549 (+11%)	1mo	$263,900	$170	72
40674 Cara Mae Dr	0.05mi	4/2.0 (+1)	1,555 (+12%)	2mo	$277,900	$179	72
40644 Cara Mae Dr	0.06mi	4/2.0 (+1)	1,555 (+12%)	3mo	$269,900	$174	70
40620 Cara Mae Dr	0.05mi	4/2.0 (+1)	1,555 (+12%)	5mo	$282,900	$182	69
40578 Cara Mae Dr	0.05mi	4/2.0 (+1)	1,555 (+12%)	6mo	$276,900	$178	68
40621 Cara Mae St	0.18mi	3/2.0	1,549 (+11%)	6mo	$267,900	$173	68
40665 Cara Mae Dr	0.19mi	4/2.0 (+1)	1,555 (+12%)	1mo	$27,490	$18	66
4613 Oak Dr	0.73mi	3/2.0	1,345 (-3%)	1mo	$250,000	$186	59
4367 Maple Dr	0.72mi	3/2.0	1,491 (+7%)	1mo	$28,000	$19	54
313 Lake Erie Dr	0.69mi	3/2.0	1,500 (+8%)	3mo	$219,000	$146	52

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.17×
• Total profit: $-63,535
• Equity at exit: $40,851

10-year hold

• IRR: -24.2%
• Equity multiple: -0.13×
• Total profit: $-87,012
• Equity at exit: $23,689

Cash invested: $76,714 (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 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 594
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,068 high
• Mortgage (P&I): −$1,437
• Tax est. 1.5%: −$342 /mo · $4,110/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-260

Break-even live

Break-even rent $2,397

Max offer price $236,404

Occupancy floor —

Sensitivity live

Price	-10% $-70	-5% $-165	+0% $-260	+5% $-354	+10% $-449
Rent	-10% $-423	-5% $-341	+0% $-260	+5% $-178	+10% $-96
Rate	-1.0pp $-122	-0.5pp $-190	base $-260	+0.5pp $-331	+1.0pp $-403

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: $68,495
• Closing costs: $8,219
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	25d	1	0.27mi
814 Lake Borgne Ct Slidell, LA	3.0	2.0	1560	$1,900	$1.22	23d	1	0.40mi
4145 Saint Peter St Slidell, LA	3.0	2.0	1422	$2,000	$1.41	45d	1	0.70mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	45d	1	0.92mi
59278 Rebel Dr Unit A Slidell, LA	2.0	1.0	900	$1,185	$1.32	45d	1	1.13mi
59278 Rebel Dr Slidell, LA	2.0	1.0	900	$1,175	$1.31	45d	1	1.13mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,200	$1.64	45d	1	1.20mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,150	$1.60	4d	1	1.20mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	13d	1	1.21mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	4d	1	1.21mi

Listing history 16 events

1. 2026-06-21
   days on market $244,900 Active 157 DOM
2. 2026-06-18
   days on market $244,900 Active 154 DOM
3. 2026-06-17
   days on market $244,900 Active 153 DOM
4. 2026-06-16
   days on market $244,900 Active 152 DOM
5. 2026-06-15
   days on market $244,900 Active 151 DOM
6. 2026-06-13
   days on market $244,900 Active 149 DOM
7. 2026-06-10
   days on market $244,900 Active 146 DOM
8. 2026-06-09
   days on market $244,900 Active 145 DOM
9. 2026-06-08
   days on market $244,900 Active 144 DOM
10. 2026-06-07
    days on market $244,900 Active 143 DOM
11. 2026-06-03
    days on market $244,900 Active 139 DOM
12. 2026-06-02
    days on market $244,900 Active 138 DOM
13. 2026-06-01
    days on market $244,900 Active 137 DOM
14. 2026-05-31
    days on market $244,900 Active 136 DOM
15. 2026-03-31
    price $244,900 1492-char remark

    Show marketing remark (1492 chars)

    Introducing The Cherry, a beautifully designed single-story new construction home offering 4 bedrooms, 2 bathrooms, and a 1-car garage across 1,392 square feet of functional living space. This thoughtful layout is perfect for families, first-time homebuyers, and those seeking a smart, efficient floor plan in Bonterra, Slidell, La. Step inside from the welcoming front porch into a bright foyer that leads you toward the heart of the home. The Cherry features an open-concept living, dining, and kitchen area, creating a comfortable and inviting space for daily living and entertaining. The modern kitchen includes a spacious island overlooking the living room, a walk-in pantry, and easy access to the dining area. Homebuyers will appreciate the stainless steel appliances-including stove, microwave hood, and dishwasher-paired with beautiful 3 cm granite countertops throughout, combining style, durability, and functionality. The primary bedroom suite, conveniently located toward the rear of the home, offers a peaceful retreat with a large walk-in closet and a well-appointed private bathroom featuring dual sinks and linen storage. Three additional bedrooms are thoughtfully placed near the front of the home, along with a secondary full bathroom, providing flexibility for children, guests, a home office, or hobby space. A covered back patio extends your living area outdoors, ideal for morning coffee, weekend grilling, or evening relaxation. With its smart layout, efficient design

16. 2026-01-15
    listed $242,900 Active 1492-char remark

    Show marketing remark (1492 chars)

    Introducing The Cherry, a beautifully designed single-story new construction home offering 4 bedrooms, 2 bathrooms, and a 1-car garage across 1,392 square feet of functional living space. This thoughtful layout is perfect for families, first-time homebuyers, and those seeking a smart, efficient floor plan in Bonterra, Slidell, La. Step inside from the welcoming front porch into a bright foyer that leads you toward the heart of the home. The Cherry features an open-concept living, dining, and kitchen area, creating a comfortable and inviting space for daily living and entertaining. The modern kitchen includes a spacious island overlooking the living room, a walk-in pantry, and easy access to the dining area. Homebuyers will appreciate the stainless steel appliances-including stove, microwave hood, and dishwasher-paired with beautiful 3 cm granite countertops throughout, combining style, durability, and functionality. The primary bedroom suite, conveniently located toward the rear of the home, offers a peaceful retreat with a large walk-in closet and a well-appointed private bathroom featuring dual sinks and linen storage. Three additional bedrooms are thoughtfully placed near the front of the home, along with a secondary full bathroom, providing flexibility for children, guests, a home office, or hobby space. A covered back patio extends your living area outdoors, ideal for morning coffee, weekend grilling, or evening relaxation. With its smart layout, efficient design

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,816
• − Mortgage interest: −$15,347
• − Property taxes: −$4,110
• − Insurance: −$1,370
• − Repairs & maintenance: −$1,985
• − Management: −$1,985
• − Depreciation: −$7,970
• Taxable loss: −$7,951
• Est. tax savings @ 24.0%: +$1,908
• After-tax cash flow: $-1,208/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.

Condition & rehab AI · 1 photo

Excellent 100/100 None rehab

This beautifully designed single-story home is in excellent condition with no visible repairs or maintenance needed. It offers a smart, efficient floor plan and is move-in ready.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Resale Kitchen appliances — Modernizes the kitchen and appeals to potential buyers
• Resale Bathroom fixtures — Modernizes the bathrooms and appeals to potential buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale Kitchen appliances — Modernizes the kitchen and appeals to potential buyers ↑
• Resale Bathroom fixtures — Modernizes the bathrooms and appeals to potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 34,808
• Household income: $89,003
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 328.0

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 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 14% Hispanic / Latino 11% Asian 3%
• Common ancestry: Lithuanian 9% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 7% Chinese 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: ▼ -74.47%
• Current HPI: 151.3353
• Rent YoY: ▲ 1.72%
• 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

+0.8% since first listed

2 events — show timeline

• 2026-03-31 Price Changed $244,900 Zillow
• 2026-01-15 Listed $242,900 Zillow