70319 L St · Covington, LA 70433

$199,999

3 bd · 2.0 ba · 1,480 sqft · SingleFamily public records · 167 Days on market

Built 1986 $135/sqft · 11% below area Est $226k · 11% under

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Why this score? — see what drove the C- 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 +17.8/30.0
• ARV discount +12.6/15.0
• DSCR +5.6/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located to all major interstates and amenities. Great home for first time homebuyers. Fenced in backyard, front porch freshly painted, sub flooring completely repaired in 2025. Ready for its new owners.

Key facts

• Fenced in backyard
• 3 parking spots
• Built 1986

Tags

• FENCED IN BACKYARD
• FRONT PORCH FRESHLY PAINTED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/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 $184k (7.8% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• Zoned schools: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% FRL); Fontainebleau Junior High School (math 38% / reading 62%, grade C, #26 of 218 statewide, top 12%, 877 students, 37% FRL); Fontainebleau High School (math 56% / reading 61%, grade C, #23 of 265 statewide, top 9%, 1,677 students, 33% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 530 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 167 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 24y 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 $132k; list at $200k implies a 52% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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: 0.92% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• GRM: 9.0

CMA / ARV

• ARV (median comp): $225,536
• List price: $199,999
• Delta: -11.32%
• 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
70332 L St	0.04mi	3/2.0	1,460 (-1%)	4mo	$217,000	$149	92
70325 L St	0.01mi	3/2.0	1,564 (+6%)	0mo	$190,000	$121	90
70281 C St	0.42mi	3/2.0	1,463 (-1%)	2mo	$215,000	$147	77
70381 L St	0.12mi	3/2.0	1,322 (-11%)	1mo	$218,000	$165	76
70333 H St	0.22mi	4/2.0 (+1)	1,404 (-5%)	2mo	$239,900	$171	75
70519 K St	0.37mi	3/2.0	1,374 (-7%)	1mo	$257,000	$187	70
719 Stonewood Dr	0.24mi	3/2.0	1,663 (+12%)	2mo	$280,000	$168	67
70421 G St	0.34mi	3/2.0	1,280 (-14%)	3mo	$224,000	$175	60
70314 3rd St	0.69mi	3/2.0	1,400 (-5%)	5mo	$150,000	$107	55
4049 Monarch Ln	0.47mi	3/2.0	1,694 (+14%)	1mo	$400,000	$236	53
70432 2nd St	0.68mi	3/2.0	1,347 (-9%)	2mo	$227,500	$169	52
118 Woodcrest Dr	0.54mi	3/2.0	1,690 (+14%)	3mo	$289,900	$172	49

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-19,445
• Equity at exit: $29,821

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $6,891
• Equity at exit: $17,292

Cash invested: $56,000 (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 70433

• Rents YoY: 4.3%
• Active inventory: 530
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$160 /mo · $1,915/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $165

Break-even live

Break-even rent $1,635

Max offer price $199,999

Occupancy floor 86%

Sensitivity live

Price	-10% $279	-5% $222	+0% $165	+5% $109	+10% $52
Rent	-10% $20	-5% $92	+0% $165	+5% $238	+10% $311
Rate	-1.0pp $266	-0.5pp $216	base $165	+0.5pp $113	+1.0pp $61

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70403 L St Covington, LA	3.0	2.0	1250	$1,695	$1.36	45d	1	0.18mi
70361 D St Covington, LA	3.0	2.0	1409	$1,750	$1.24	25d	1	0.38mi
4025 Monarch Ln Covington, LA	3.0	2.0	1853	$2,800	$1.51	45d	1	0.48mi
70330 A St Covington, LA	3.0	2.0	1163	$1,600	$1.38	21d	1	0.54mi
70412 1st St Covington, LA	3.0	2.0	1182	$1,700	$1.44	18d	1	0.62mi
70466 1st St Covington, LA	3.0	2.0	1443	$2,100	$1.46	18d	1	0.66mi
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,600	$1.89	13d	2	0.73mi
70040 2nd St Covington, LA	3.0	2.0	1416	$2,000	$1.41	5d	1	0.83mi
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	5d	1	0.84mi
70293 7th St Covington, LA	3.0	2.0	1450	$1,695	$1.17	45d	1	0.87mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,856	$2.16	3d	18	0.88mi
70300 7th St Covington, LA	3.0	2.0	1448	$1,750	$1.21	25d	1	0.90mi
70266 7th St Covington, LA	3.0	2.0	1736	$1,575	$0.91	45d	1	0.90mi
212 Covington Cottage Ln Covington, LA	3.0	2.0	1690	$2,275	$1.35	45d	1	0.90mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,407	$1.46	3d	9	0.90mi
70252 8th St Covington, LA	3.0	2.0	1230	$1,650	$1.34	25d	1	0.95mi
70439 8th St Covington, LA	3.0	2.0	1267	$1,500	$1.18	25d	1	0.95mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	25d	1	0.95mi
70371 10th St Covington, LA	3.0	2.0	1212	$1,695	$1.40	45d	1	1.03mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	4d	1	1.14mi
711 Lionel Ct Abita Springs, LA	3.0	2.0	1497	$2,000	$1.34	25d	1	1.14mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	18d	1	1.15mi
445 Tiger Ave Covington, LA	3.0	2.0	1538	$2,300	$1.50	25d	1	1.17mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,525	$2.34	3d	12	1.19mi
312 Lismore Ln Covington, LA	3.0	2.5	1521	$2,900	$1.91	25d	1	1.27mi
308 Robinhood Dr Covington, LA	3.0	2.0	1650	$1,800	$1.09	5d	1	1.28mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	45d	1	1.28mi
110 Robinhood Dr Covington, LA	3.0	2.0	1600	$1,500	$0.94	45d	1	1.33mi
19425 Slemmer Rd Unit 2 Covington, LA	3.0	2.0	1100	$1,100	$1.00	23d	1	1.42mi
103 Covington Meadow Cir Unit F Covington, LA	3.0	2.5	1476	$1,700	$1.15	45d	1	1.50mi
103 Covington Meadow Cir Unit E Covington, LA	3.0	2.5	1476	$1,700	$1.15	25d	1	1.50mi

Listing history 50 events

1. 2026-06-21
   days on market $199,999 Active 167 DOM
2. 2026-06-18
   days on market $199,999 Active 164 DOM
3. 2026-06-17
   days on market $199,999 Active 163 DOM
4. 2026-06-16
   days on market $199,999 Active 162 DOM
5. 2026-06-15
   days on market $199,999 Active 161 DOM
6. 2026-06-13
   days on market $199,999 Active 159 DOM
7. 2026-06-10
   days on market $199,999 Active 156 DOM
8. 2026-06-09
   days on market $199,999 Active 155 DOM
9. 2026-06-08
   days on market $199,999 Active 154 DOM
10. 2026-06-07
    days on market $199,999 Active 153 DOM
11. 2026-06-03
    days on market $199,999 Active 149 DOM
12. 2026-06-02
    days on market $199,999 Active 148 DOM
13. 2026-06-01
    days on market $199,999 Active 147 DOM
14. 2026-05-31
    days on market $199,999 Active 146 DOM
15. 2026-02-02
    price $199,999 215-char remark

    Show marketing remark (215 chars)

    Conveniently located to all major interstates and amenities. Great home for first time homebuyers. Fenced in backyard, front porch freshly painted, sub flooring completely repaired in 2025. Ready for its new owners.

16. 2026-02-02
    price $199,999 215-char remark

    Show marketing remark (215 chars)

    Conveniently located to all major interstates and amenities. Great home for first time homebuyers. Fenced in backyard, front porch freshly painted, sub flooring completely repaired in 2025. Ready for its new owners.

17. 2026-01-05
    listed $205,999 Active 215-char remark

    Show marketing remark (215 chars)

    Conveniently located to all major interstates and amenities. Great home for first time homebuyers. Fenced in backyard, front porch freshly painted, sub flooring completely repaired in 2025. Ready for its new owners.

18. 2026-01-05
    listed $205,999 Active 215-char remark

    Show marketing remark (215 chars)

    Conveniently located to all major interstates and amenities. Great home for first time homebuyers. Fenced in backyard, front porch freshly painted, sub flooring completely repaired in 2025. Ready for its new owners.

19. 2026-01-02
    historical $1,700
20. 2025-12-30
    historical $1,700
21. 2025-12-17
    price $1,700
22. 2025-12-17
    price $1,700
23. 2025-12-07
    price $1,750
24. 2025-12-06
    price $1,750
25. 2025-11-22
    price $1,775
26. 2025-11-22
    price $1,775
27. 2025-11-15
    price $1,800
28. 2025-11-12
    price $1,825
29. 2025-11-12
    price $1,825
30. 2025-10-24
    listed $1,900
31. 2025-10-24
    listed $1,900
32. 2025-03-28
    listed $215,000 Active
33. 2024-12-17
    listed $215,000 Active
34. 2024-12-17
    listed $215,000 Active
35. 2024-06-15
    historical $1,700
36. 2024-05-21
    price $199,995
37. 2024-04-23
    listed $1,700
38. 2024-04-04
    listed $199,995
39. 2024-03-20
    price $200,000
40. 2024-01-19
    listed $200,000
41. 2018-03-30
    soldstatus $132,000 Sold
42. 2018-02-18
    historical Pending Continue to Show
43. 2017-12-29
    price $135,000
44. 2017-09-29
    status Active
45. 2017-07-18
    historical Pending Continue to Show
46. 2017-06-20
    listed $140,000 Active
47. 2017-06-20
    historical
48. 2017-05-02
    listed $145,000 Active
49. 2017-05-02
    listed $135,000
50. 2017-05-02
    listed $145,000

ⓘ 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: $1,915 · $160/mo
• Projected year-2 tax: $1,915 · $160/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,133
• − Mortgage interest: −$11,203
• − Property taxes: −$1,915
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$5,818
• Taxable loss: −$1,345
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $2,307/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): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 1287.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

+115.4% since first listed

44 events — show timeline

• 2026-02-02 Price Changed $199,999 AcadianaMLS
• 2026-02-02 Price Changed $199,999 GSREIN
• 2026-01-05 Listed $205,999 GSREIN
• 2026-01-05 Listed $205,999 AcadianaMLS
• 2026-01-02 Rental Removed $1,700 BUILDIUM
• 2025-12-30 Rental Removed $1,700 GSREIN
• 2025-12-17 Price Changed $1,700 GSREIN
• 2025-12-17 Price Changed $1,700 BUILDIUM
• 2025-12-07 Price Changed $1,750 BUILDIUM
• 2025-12-06 Price Changed $1,750 GSREIN
• 2025-11-22 Price Changed $1,775 GSREIN
• 2025-11-22 Price Changed $1,775 BUILDIUM
• 2025-11-15 Price Changed $1,800 GSREIN
• 2025-11-12 Price Changed $1,825 GSREIN
• 2025-11-12 Price Changed $1,825 BUILDIUM
• 2025-10-24 Listed for Rent $1,900 BUILDIUM
• 2025-10-24 Listed for Rent $1,900 GSREIN
• 2025-03-28 Listed $215,000 AcadianaMLS
• 2024-12-17 Listed $215,000 GBRMLS
• 2024-12-17 Listed $215,000 AcadianaMLS
• 2024-06-15 Rental Removed $1,700 GSREIN
• 2024-05-21 Price Changed $199,995 GSREIN
• 2024-04-23 Listed for Rent $1,700 GSREIN
• 2024-04-04 Listed $199,995 AcadianaMLS
• 2024-03-20 Price Changed $200,000 GSREIN
• 2024-01-19 Listed $200,000 AcadianaMLS
• 2018-03-30 Sold (MLS) $132,000 GSREIN
• 2018-02-18 Contingent — GSREIN
• 2017-12-29 Price Changed $135,000 GSREIN
• 2017-09-29 Relisted — GSREIN
• 2017-07-18 Contingent — GSREIN
• 2017-06-20 Listed $140,000 GSREIN
• 2017-06-20 Listing Removed — GSREIN
• 2017-05-02 Listed $145,000 GSREIN
• 2017-05-02 Listed $145,000 AcadianaMLS
• 2017-05-02 Listed $135,000 AcadianaMLS
• 2007-10-01 Sold (Public Records) $148,300 Public Records
• 2007-09-28 Sold (MLS) $148,300 GSREIN
• 2007-06-11 Listed $150,000 GSREIN
• 2007-06-11 Listed $150,000 AcadianaMLS
• 2002-05-22 Sold (Public Records) $91,500 Public Records
• 2002-05-10 Sold (MLS) $91,500 GSREIN
• 2002-03-18 Listed $92,850 GSREIN
• 2002-03-18 Listed $92,850 AcadianaMLS

Property tax history

+2.1%/yr

Latest (2025): $1,915 · -3.5% YoY. Source: county tax records.