72503 Rose St · Covington, LA 70435

$199,000

3 bd · 2.0 ba · 1,087 sqft · SingleFamily public records · 21 Days on market

Built 1974 Est $187k · 6% over

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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 +20.7/30.0
• DSCR +6.6/10.0
• ARV discount +4.6/15.0
• 1% rule +4.4/10.0
• Schools +4.3/10.0
• 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

Well-maintained 3-bedroom, 2-bath home offering a functional layout, spacious living areas, and a large lot with plenty of outdoor space. The home features updated flooring throughout, a bright kitchen with ample cabinet storage, generous bedroom sizes, and a covered carport that can also serve as an outdoor entertaining area. The oversized backyard provides endless possibilities for gardening, recreation, pets, or future improvements. Surrounded by trees for added privacy and natural beauty, this property offers a peaceful setting while still providing convenient access to everyday amenities. Whether you're a first-time homebuyer, investor, or looking for additional space, this property presents an excellent opportunity at an attractive value.

Key facts

• 3 parking spots
• Built 1974
• Listed 21 days

Property features AI

Exterior

• Parking: Driveway; Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Shingle roof
• Construction: Shingle siding; Shake siding; Vinyl siding
• Exterior features: Outside city limits

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Excellent overall condition; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $271 ($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 $187k (5.9% below list).
• Recommended offer: $187k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $1k of loan paydown is wiped out by about $6k 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 21 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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 $70k; list at $199k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,275 (5.9% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.94% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.83%
• DSCR: 1.26
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $186,964
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72351 Rose St	0.29mi	3/1.5	1,120 (+3%)	0mo	$163,000	$146	80
72475 Jasmine St	0.19mi	4/2.0 (+1)	1,200 (+10%)	5mo	$80,500	$67	64
21101 Saint Ann St	0.46mi	3/2.0	1,161 (+7%)	6mo	$235,000	$202	62
72343 Manor St	0.69mi	3/2.0	1,171 (+8%)	6mo	$195,000	$167	50
21105 Saint Ann St	0.45mi	3/2.0	1,190 (+10%)	17mo	$205,000	$172	49
72345 Homestead St	0.56mi	3/2.0	1,167 (+7%)	19mo	$230,000	$197	46
72452 Plantation St	0.50mi	3/2.5	1,212 (+12%)	12mo	$174,500	$144	46
72342 Kustenmacher Rd	0.71mi	3/2.0	1,050 (-3%)	23mo	$214,900	$205	42
72268 Kustenmacher Rd	0.74mi	2/2.0 (-1)	1,229 (+13%)	12mo	$230,000	$187	29

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: -7.3%
• Equity multiple: 0.73×
• Total profit: $-15,088
• Equity at exit: $29,672

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $8,751
• Equity at exit: $17,206

Cash invested: $55,720 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,873 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$82 /mo · $989/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $271

Break-even live

Break-even rent $1,530

Max offer price $199,000

Occupancy floor 81%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
72475 Jasmine St Covington, LA	4.0	2.0	1200	$1,595	$1.33	43d	1	0.23mi
21482 Pearl St Unit 2 Abita Springs, LA	2.0	1.0	930	$1,400	$1.51	43d	1	1.20mi
7 Holly Dr Covington, LA	3.0	2.0	1478	$1,975	$1.34	43d	1	1.45mi

Listing history 30 events

1. 2026-06-18
   days on market $199,000 Active 21 DOM
2. 2026-06-17
   days on market $199,000 Active 20 DOM
3. 2026-06-16
   days on market $199,000 Active 19 DOM
4. 2026-06-15
   days on market $199,000 Active 18 DOM
5. 2026-06-13
   days on market $199,000 Active 16 DOM
6. 2026-06-10
   days on market $199,000 Active 13 DOM
7. 2026-06-09
   days on market $199,000 Active 12 DOM
8. 2026-06-08
   days on market $199,000 Active 11 DOM
9. 2026-06-07
   days on market $199,000 Active 10 DOM
10. 2026-06-03
    days on market $199,000 Active 6 DOM
11. 2026-06-02
    days on market $199,000 Active 5 DOM
12. 2026-06-01
    days on market $199,000 Active 4 DOM
13. 2026-05-31
    days on market $199,000 Active 3 DOM
14. 2026-05-28
    listed $199,000 Active 754-char remark

    Show marketing remark (754 chars)

    Well-maintained 3-bedroom, 2-bath home offering a functional layout, spacious living areas, and a large lot with plenty of outdoor space. The home features updated flooring throughout, a bright kitchen with ample cabinet storage, generous bedroom sizes, and a covered carport that can also serve as an outdoor entertaining area. The oversized backyard provides endless possibilities for gardening, recreation, pets, or future improvements. Surrounded by trees for added privacy and natural beauty, this property offers a peaceful setting while still providing convenient access to everyday amenities. Whether you're a first-time homebuyer, investor, or looking for additional space, this property presents an excellent opportunity at an attractive value.

15. 2026-05-28
    listed $199,000 Active

    Show marketing remark (754 chars)

    Well-maintained 3-bedroom, 2-bath home offering a functional layout, spacious living areas, and a large lot with plenty of outdoor space. The home features updated flooring throughout, a bright kitchen with ample cabinet storage, generous bedroom sizes, and a covered carport that can also serve as an outdoor entertaining area. The oversized backyard provides endless possibilities for gardening, recreation, pets, or future improvements. Surrounded by trees for added privacy and natural beauty, this property offers a peaceful setting while still providing convenient access to everyday amenities. Whether you're a first-time homebuyer, investor, or looking for additional space, this property presents an excellent opportunity at an attractive value.

16. 2023-01-20
    price $145,000
17. 2022-12-05
    price $134,000
18. 2022-10-29
    price $139,900
19. 2022-10-04
    listed $145,000
20. 2022-03-15
    soldstatus $70,000 Closed
21. 2022-02-07
    status Pending
22. 2022-01-29
    listed $74,900 Active
23. 2022-01-29
    listed $74,900
24. 2021-12-01
    listed $67,900
25. 2020-03-10
    price $56,700
26. 2020-02-19
    price $61,300
27. 2020-02-04
    price $66,000
28. 2020-01-16
    listed $56,700
29. 2005-02-28
    soldstatus $37,500
30. 2003-03-19
    soldstatus $31,800

ⓘ 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: $989 · $82/mo
• Projected year-2 tax: $1,094 · $91/mo
• Expected delta: +$106/yr (+$9/mo · 10.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 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: $22,473
• − Mortgage interest: −$11,147
• − Property taxes: −$989
• − Insurance: −$995
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − Depreciation: −$5,789
• Taxable loss: −$43
• Est. tax savings @ 24.0%: +$10
• After-tax cash flow: $3,257/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

+525.8% since first listed

17 events — show timeline

• 2026-05-28 Listed $199,000 GSREIN
• 2026-05-28 Listed $199,000 AcadianaMLS
• 2023-01-20 Price Changed $145,000 GSREIN
• 2022-12-05 Price Changed $134,000 GSREIN
• 2022-10-29 Price Changed $139,900 GSREIN
• 2022-10-04 Listed $145,000 AcadianaMLS
• 2022-03-15 Sold (MLS) $70,000 GSREIN
• 2022-02-07 Pending — GSREIN
• 2022-01-29 Listed $74,900 AcadianaMLS
• 2022-01-29 Listed $74,900 GSREIN
• 2021-12-01 Listed $67,900 AcadianaMLS
• 2020-03-10 Price Changed $56,700 GSREIN
• 2020-02-19 Price Changed $61,300 GSREIN
• 2020-02-04 Price Changed $66,000 GSREIN
• 2020-01-16 Listed $56,700 AcadianaMLS
• 2005-02-28 Sold (Public Records) $37,500 Public Records
• 2003-03-19 Sold (Public Records) $31,800 Public Records

Property tax history

+4.4%/yr

Latest (2025): $989 · -4.6% YoY. Source: county tax records.