Cherry Plan · Slidell, LA 70461

$244,900

3 bd · 2.0 ba · 1,392 sqft · SingleFamily · 297 Days on market

Excellent condition

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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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Condition / age +5.0/5.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• 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.

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 — $274,783.

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 $-335 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (19.2% below list).
• Recommended offer: $198k (19.2% 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); 922 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 297 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Recommended offer $197,924 (19.2% 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 297 days. Have you received any prior offers? Is the seller open to a 19% 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: 0.72% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.23%
• DSCR: 0.77
• GRM: 11.6

CMA / ARV

• ARV (median comp): $274,783
• List price: $244,900
• Delta: -10.88%
• 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%)	5mo	$244,900	$176	87
40539 Cara Mae St	0.18mi	3/2.0	1,343 (-4%)	3mo	$243,005	$181	83
40543 Cara Mae St	0.21mi	3/2.0	1,343 (-4%)	4mo	$239,900	$179	81
4118 Upperline St	0.53mi	3/2.0	1,382 (-1%)	1mo	$244,000	$177	74
40698 Cara Mae Dr	0.06mi	4/2.0 (+1)	1,555 (+12%)	5mo	$282,900	$182	69
40701 Cara Mae St	0.19mi	3/2.0	1,588 (+14%)	2mo	$269,900	$170	66
40745 Cara Mae Dr	0.19mi	4/2.0 (+1)	1,555 (+12%)	1mo	$276,900	$178	66
40709 Cara Mae Dr	0.19mi	4/2.0 (+1)	1,555 (+12%)	2mo	$276,900	$178	65
40665 Cara Mae Dr	0.19mi	4/2.0 (+1)	1,555 (+12%)	5mo	$274,900	$177	62
4130 Upperline St	0.55mi	3/2.0	1,269 (-9%)	4mo	$190,000	$150	56
4129 Upperline St	0.51mi	3/1.0	1,512 (+9%)	3mo	$144,000	$95	55
4146 Pearl St	0.68mi	3/2.0	1,249 (-10%)	2mo	$129,500	$104	50

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: -26.6%
• Equity multiple: 0.11×
• Total profit: $-68,374
• Equity at exit: $40,971

10-year hold

• IRR: -28.9%
• Equity multiple: -0.26×
• Total profit: $-96,987
• Equity at exit: $23,758

Cash invested: $76,939 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 26 active · 19 under contract
• Months of supply: 8.7 mo (12%/mo absorbed)
• Median asking: $248,900 ($166/sqft)
• Median days on market: 41 d
• This list price: 35% of active listings are priced below it
• ARV vs active asking: +19.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 922
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$1,441
• Tax est. 1.5%: −$343 /mo · $4,122/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-335

Break-even live

Break-even rent $2,404

Max offer price $226,255

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-240	+0% $-335	+5% $-430	+10% $-525
Rent	-10% $-492	-5% $-414	+0% $-335	+5% $-257	+10% $-179
Rate	-1.0pp $-197	-0.5pp $-265	base $-335	+0.5pp $-407	+1.0pp $-479

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: $68,696
• Closing costs: $8,243
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40665 Cara Mae St Slidell, LA	4.0	2.0	1658	$2,100	$1.27	126d	1	0.16mi
40365 Cara Mae St Slidell, LA	3.0	2.0	1343	$1,995	$1.49	112d	1	0.22mi
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	164d	1	0.27mi
814 Lake Borgne Ct Slidell, LA	3.0	2.0	1560	$1,900	$1.22	162d	1	0.40mi
4125 Upperline St Slidell, LA	3.0	2.0	1256	$1,800	$1.43	14d	1	0.51mi
4125 Upperline St Slidell, LA	3.0	2.0	1256	$1,800	$1.43	10d	1	0.51mi
4145 Saint Peter St Slidell, LA	3.0	2.0	1422	$2,000	$1.41	184d	1	0.70mi
117 Lake D Este Dr Slidell, LA	4.0	2.0	1800	$2,000	$1.11	10d	1	0.82mi
117 Lake D Este Dr Slidell, LA	4.0	2.0	1800	$2,000	$1.11	14d	1	0.82mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	184d	1	0.92mi
118 Everest Dr Slidell, LA	3.0	2.0	1725	$1,975	$1.14	14d	1	1.12mi
118 Everest Dr Slidell, LA	3.0	2.0	1725	$1,975	$1.14	10d	1	1.12mi
59278 Rebel Dr Slidell, LA	2.0	1.0	900	$1,100	$1.22	126d	1	1.13mi
59278 Rebel Dr Unit A Slidell, LA	2.0	1.0	900	$1,185	$1.32	184d	1	1.13mi
59219 N Pearl Dr Unit 383 Slidell, LA	2.0	2.0	1200	$1,350	$1.12	10d	1	1.14mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,000	$1.49	10d	1	1.20mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,000	$1.49	107d	1	1.20mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,200	$1.64	184d	1	1.20mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,000	$1.46	112d	1	1.21mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	152d	1	1.21mi
103 Wildwood Dr Slidell, LA	3.0	2.5	1500	$1,495	$1.00	15d	1	1.31mi
103 Wildwood Dr Slidell, LA	3.0	2.5	1500	$1,495	$1.00	1d	1	1.31mi
59445 Spring Dr Slidell, LA	3.0	2.0	1355	$2,100	$1.55	11d	1	1.34mi
59445 Spring Dr Slidell, LA	3.0	2.0	1355	$2,100	$1.55	10d	1	1.34mi
113 Adam Cir #113 Slidell, LA	2.0	2.0	1317	$1,900	$1.44	133d	1	1.44mi
104 Short St Unit A Slidell, LA	2.0	2.0	1100	$1,600	$1.45	10d	1	1.45mi
40145 Taylors Trl #403 Slidell, LA	2.0	2.0	1300	$1,450	$1.12	55d	1	1.48mi
137 Cornerstone Dr Slidell, LA	3.0	2.0	1570	$1,800	$1.15	10d	1	1.48mi
137 Cornerstone Dr Slidell, LA	3.0	2.0	1570	$1,800	$1.15	14d	1	1.48mi

Listing history 50 events

1. 2026-11-08
   days on market $244,900 Active 297 DOM
2. 2026-11-07
   days on market $244,900 Active 296 DOM
3. 2026-11-06
   days on market $244,900 Active 295 DOM
4. 2026-11-05
   days on market $244,900 Active 294 DOM
5. 2026-11-04
   days on market $244,900 Active 293 DOM
6. 2026-11-02
   days on market $244,900 Active 291 DOM
7. 2026-11-01
   days on market $244,900 Active 290 DOM
8. 2026-10-31
   days on market $244,900 Active 289 DOM
9. 2026-10-30
   days on market $244,900 Active 288 DOM
10. 2026-10-29
    days on market $244,900 Active 287 DOM
11. 2026-10-28
    days on market $244,900 Active 286 DOM
12. 2026-10-27
    days on market $244,900 Active 285 DOM
13. 2026-10-26
    days on market $244,900 Active 284 DOM
14. 2026-10-25
    days on market $244,900 Active 283 DOM
15. 2026-10-24
    days on market $244,900 Active 282 DOM
16. 2026-10-23
    days on market $244,900 Active 281 DOM
17. 2026-10-22
    days on market $244,900 Active 280 DOM
18. 2026-10-21
    days on market $244,900 Active 279 DOM
19. 2026-10-20
    days on market $244,900 Active 278 DOM
20. 2026-10-19
    days on market $244,900 Active 277 DOM
21. 2026-10-18
    days on market $244,900 Active 276 DOM
22. 2026-10-17
    days on market $244,900 Active 275 DOM
23. 2026-10-16
    days on market $244,900 Active 274 DOM
24. 2026-10-15
    days on market $244,900 Active 273 DOM
25. 2026-10-14
    days on market $244,900 Active 272 DOM
26. 2026-10-13
    days on market $244,900 Active 271 DOM
27. 2026-10-12
    days on market $244,900 Active 270 DOM
28. 2026-10-11
    days on market $244,900 Active 269 DOM
29. 2026-10-10
    days on market $244,900 Active 268 DOM
30. 2026-10-09
    days on market $244,900 Active 267 DOM
31. 2026-10-08
    days on market $244,900 Active 266 DOM
32. 2026-10-07
    days on market $244,900 Active 265 DOM
33. 2026-10-07
    days on market $244,900 Active 264 DOM
34. 2026-10-05
    days on market $244,900 Active 263 DOM
35. 2026-10-04
    days on market $244,900 Active 262 DOM
36. 2026-10-04
    days on market $244,900 Active 261 DOM
37. 2026-10-02
    days on market $244,900 Active 260 DOM
38. 2026-10-01
    days on market $244,900 Active 259 DOM
39. 2026-09-30
    days on market $244,900 Active 258 DOM
40. 2026-09-29
    days on market $244,900 Active 257 DOM
41. 2026-09-28
    days on market $244,900 Active 256 DOM
42. 2026-09-27
    days on market $244,900 Active 255 DOM
43. 2026-09-25
    days on market $244,900 Active 253 DOM
44. 2026-09-24
    days on market $244,900 Active 252 DOM
45. 2026-09-23
    days on market $244,900 Active 251 DOM
46. 2026-09-22
    days on market $244,900 Active 250 DOM
47. 2026-09-21
    days on market $244,900 Active 249 DOM
48. 2026-09-20
    days on market $244,900 Active 248 DOM
49. 2026-09-19
    days on market $244,900 Active 247 DOM
50. 2026-09-18
    days on market $244,900 Active 246 DOM

ⓘ 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: $23,751
• − Mortgage interest: −$15,392
• − Property taxes: −$4,122
• − Insurance: −$1,374
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − Depreciation: −$7,994
• Taxable loss: −$8,931
• Est. tax savings @ 24.0%: +$2,143
• After-tax cash flow: $-1,881/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 ↑

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary Cypress Cove Elementary School Middle Little Oak Middle School B- LA #19/218 Nat'l #2,699/14,009 High Northshore High School C LA #25/265 Nat'l #4,077/17,239

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

B Composite livability gradescore 70/100

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 · 286,725 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: 25% of renters

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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%

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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%
• Languages at home: 89% English-only · Spanish 7% Chinese 1% Vietnamese 1%

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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

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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