Cherry Plan · Slidell, LA 70461

$244,900

3 bd · 2.0 ba · 1,392 sqft · SingleFamily · 251 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 +7.8/30.0
• 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 +2.3/10.0
• DSCR +1.9/10.0
• 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 — $274,918.

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 $-304 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (17.5% below list).
• Recommended offer: $202k (17.5% 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); 778 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 81d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% 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 251 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Recommended offer $202,046 (17.5% 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 251 days. Have you received any prior offers? Is the seller open to a 17% 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: 0.73% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.73%
• DSCR: 0.79
• GRM: 11.3

CMA / ARV

• ARV (median comp): $274,918
• List price: $244,900
• Delta: -10.92%
• 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%)	3mo	$244,900	$176	88
40539 Cara Mae St	0.18mi	3/2.0	1,343 (-4%)	1mo	$243,005	$181	84
40543 Cara Mae St	0.21mi	3/2.0	1,343 (-4%)	3mo	$239,900	$179	82
40698 Cara Mae Dr	0.06mi	4/2.0 (+1)	1,555 (+12%)	3mo	$282,900	$182	70
40669 Cara Mae St	0.18mi	3/2.0	1,549 (+11%)	4mo	$263,900	$170	69
40674 Cara Mae Dr	0.05mi	4/2.0 (+1)	1,555 (+12%)	5mo	$277,900	$179	69
40709 Cara Mae Dr	0.19mi	4/2.0 (+1)	1,555 (+12%)	1mo	$276,900	$178	66
40665 Cara Mae Dr	0.19mi	4/2.0 (+1)	1,555 (+12%)	4mo	$274,900	$177	64
4130 Upperline St	0.55mi	3/2.0	1,269 (-9%)	3mo	$190,000	$150	57
4129 Upperline St	0.51mi	3/1.0	1,512 (+9%)	1mo	$144,000	$95	57
4613 Oak Dr	0.73mi	3/2.0	1,345 (-3%)	4mo	$250,000	$186	57
4367 Maple Dr	0.72mi	3/2.0	1,491 (+7%)	4mo	$28,000	$19	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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -25.8%
• Equity multiple: 0.14×
• Total profit: $-66,433
• Equity at exit: $40,991

10-year hold

• IRR: -26.8%
• Equity multiple: -0.21×
• Total profit: $-92,910
• Equity at exit: $23,770

Cash invested: $76,977 (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: 24 active · 16 under contract
• Months of supply: 8.5 mo (12%/mo absorbed)
• Median asking: $252,450 ($169/sqft)
• Median days on market: 66 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +16.8% 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: 778
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,124/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-304

Break-even live

Break-even rent $2,405

Max offer price $230,967

Occupancy floor —

Sensitivity live

Price	-10% $-114	-5% $-209	+0% $-304	+5% $-399	+10% $-494
Rent	-10% $-463	-5% $-384	+0% $-304	+5% $-224	+10% $-144
Rate	-1.0pp $-165	-0.5pp $-234	base $-304	+0.5pp $-375	+1.0pp $-447

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: $68,730
• Closing costs: $8,248
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 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	81d	1	0.16mi
40365 Cara Mae St Slidell, LA	3.0	2.0	1343	$1,995	$1.49	67d	1	0.22mi
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	119d	1	0.27mi
814 Lake Borgne Ct Slidell, LA	3.0	2.0	1560	$1,900	$1.22	117d	1	0.40mi
4145 Saint Peter St Slidell, LA	3.0	2.0	1422	$2,000	$1.41	139d	1	0.70mi
117 Lake D Este Dr Slidell, LA	4.0	2.0	1800	$2,100	$1.17	0d	1	0.82mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	139d	1	0.92mi
59278 Rebel Dr Unit A Slidell, LA	2.0	1.0	900	$1,185	$1.32	139d	1	1.13mi
59278 Rebel Dr Slidell, LA	2.0	1.0	900	$1,100	$1.22	81d	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	62d	1	1.20mi
40065 Cane St Slidell, LA	3.0	2.0	1345	$2,200	$1.64	139d	1	1.20mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,200	$1.60	107d	1	1.21mi
59518 Autumn Dr Slidell, LA	3.0	2.0	1374	$2,000	$1.46	67d	1	1.21mi
59445 Spring Dr Slidell, LA	3.0	2.0	1355	$2,100	$1.55	0d	1	1.34mi
113 Adam Cir #113 Slidell, LA	2.0	2.0	1317	$1,900	$1.44	88d	1	1.44mi
104 Short St Unit A Slidell, LA	2.0	2.0	1100	$1,800	$1.64	10d	1	1.45mi
40145 Taylors Trl #403 Slidell, LA	2.0	2.0	1300	$1,450	$1.12	10d	1	1.48mi

Listing history 50 events

1. 2026-09-23
   days on market $244,900 Active 251 DOM
2. 2026-09-22
   days on market $244,900 Active 250 DOM
3. 2026-09-21
   days on market $244,900 Active 249 DOM
4. 2026-09-20
   days on market $244,900 Active 248 DOM
5. 2026-09-19
   days on market $244,900 Active 247 DOM
6. 2026-09-18
   days on market $244,900 Active 246 DOM
7. 2026-09-17
   days on market $244,900 Active 245 DOM
8. 2026-09-16
   days on market $244,900 Active 244 DOM
9. 2026-09-15
   days on market $244,900 Active 243 DOM
10. 2026-09-14
    days on market $244,900 Active 242 DOM
11. 2026-09-13
    days on market $244,900 Active 241 DOM
12. 2026-09-12
    days on market $244,900 Active 240 DOM
13. 2026-09-05
    days on market $244,900 Active 233 DOM
14. 2026-09-04
    days on market $244,900 Active 232 DOM
15. 2026-09-03
    days on market $244,900 Active 231 DOM
16. 2026-08-31
    days on market $244,900 Active 228 DOM
17. 2026-08-29
    days on market $244,900 Active 226 DOM
18. 2026-08-28
    days on market $244,900 Active 225 DOM
19. 2026-08-27
    days on market $244,900 Active 224 DOM
20. 2026-08-25
    days on market $244,900 Active 222 DOM
21. 2026-08-23
    days on market $244,900 Active 220 DOM
22. 2026-08-22
    days on market $244,900 Active 219 DOM
23. 2026-08-21
    days on market $244,900 Active 218 DOM
24. 2026-08-20
    days on market $244,900 Active 217 DOM
25. 2026-08-19
    days on market $244,900 Active 216 DOM
26. 2026-08-18
    days on market $244,900 Active 215 DOM
27. 2026-08-17
    days on market $244,900 Active 214 DOM
28. 2026-08-16
    days on market $244,900 Active 213 DOM
29. 2026-08-15
    days on market $244,900 Active 212 DOM
30. 2026-08-14
    days on market $244,900 Active 211 DOM
31. 2026-08-13
    days on market $244,900 Active 210 DOM
32. 2026-08-12
    days on market $244,900 Active 209 DOM
33. 2026-08-11
    days on market $244,900 Active 208 DOM
34. 2026-08-10
    days on market $244,900 Active 207 DOM
35. 2026-08-09
    days on market $244,900 Active 206 DOM
36. 2026-08-08
    days on market $244,900 Active 205 DOM
37. 2026-08-07
    days on market $244,900 Active 204 DOM
38. 2026-08-06
    days on market $244,900 Active 203 DOM
39. 2026-08-05
    days on market $244,900 Active 202 DOM
40. 2026-08-04
    days on market $244,900 Active 201 DOM
41. 2026-08-03
    days on market $244,900 Active 200 DOM
42. 2026-07-31
    days on market $244,900 Active 197 DOM
43. 2026-07-30
    days on market $244,900 Active 195 DOM
44. 2026-07-28
    days on market $244,900 Active 194 DOM
45. 2026-07-26
    days on market $244,900 Active 192 DOM
46. 2026-07-24
    days on market $244,900 Active 190 DOM
47. 2026-07-23
    days on market $244,900 Active 189 DOM
48. 2026-07-22
    days on market $244,900 Active 188 DOM
49. 2026-07-21
    days on market $244,900 Active 187 DOM
50. 2026-07-20
    days on market $244,900 Active 186 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: $24,246
• − Mortgage interest: −$15,400
• − Property taxes: −$4,124
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$7,998
• Taxable loss: −$8,529
• Est. tax savings @ 24.0%: +$2,047
• After-tax cash flow: $-1,598/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%
• 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%

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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