3240 Effie St · Slidell, LA 70458

$125,000

2 bd · 1.0 ba · 722 sqft · SingleFamily public records · 19 Days on market

Built 1965 7,187 sqft lot Est $121k · at est.

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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 +20.8/30.0
• DSCR +6.6/10.0
• ARV discount +6.1/15.0
• 1% rule +5.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and cozy cottage conveniently located near all the city's amenities. This delightful home features 2 bedrooms and 1 bath, highlighted by a neutral color palette, ceramic tile flooring, and a spacious back porch perfect for relaxing. The fenced backyard offers plenty of space along with ample parking.

Key facts

• Spacious back porch
• Ample parking
• Fenced backyard

Tags

• CERAMIC TILE FLOORING
• SPACIOUS BACK PORCH
• FENCED BACKYARD
• AMPLE PARKING

Property features AI

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family residence; Residential property
• Construction: Wood siding exterior; Slab foundation; Built with traditional wood-frame construction
• Exterior features: Chain link fencing; Off-street parking; Open parking

Interior

• Kitchen: Range; Oven; Microwave
• Flooring: Tile; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Range, Oven, Microwave; Electric water heater; Tile and ceramic tile flooring
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 5.9% in Slidell — 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 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.
• Market conditions: Rents rising (+1.5%/yr); 489 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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 19 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $121,296
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3129 Effie St	0.12mi	2/1.0	745 (+3%)	4mo	$125,000	$168	86

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-11,232
• Equity at exit: $18,638

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-3,307
• Equity at exit: $10,808

Cash invested: $35,000 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$656
• Tax from tax record: −$112 /mo · $1,347/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $172

Break-even live

Break-even rent $1,038

Max offer price $125,000

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3109 Grandview Pl Slidell, LA	1.0	1.5	522	$950	$1.82	17d	1	0.89mi
301 Spartan Dr Slidell, LA	1.0–2.0	1.0–2.0	880	$1,502	$1.71	3d	8	1.05mi
511 Spartan Dr #6102 Slidell, LA	1.0	1.0	662	$1,000	$1.51	43d	1	1.18mi
36326 Salmen St Apt A Slidell, LA	1.0	1.0	650	$1,100	$1.69	23d	1	1.29mi
36326 Salmen St Unit B Slidell, LA	1.0	1.0	650	$1,100	$1.69	11d	1	1.29mi
1303 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	990	$1,588	$1.60	2d	31	1.46mi

Listing history 12 events

1. 2026-06-18
   days on market $125,000 Active 19 DOM
2. 2026-06-17
   days on market $125,000 Active 18 DOM
3. 2026-06-16
   days on market $125,000 Active 17 DOM
4. 2026-06-15
   days on market $125,000 Active 16 DOM
5. 2026-06-13
   days on market $125,000 Active 14 DOM
6. 2026-06-10
   days on market $125,000 Active 11 DOM
7. 2026-06-09
   days on market $125,000 Active 10 DOM
8. 2026-06-08
   days on market $125,000 Active 9 DOM
9. 2026-06-07
   days on market $125,000 Active 8 DOM
10. 2026-06-03
    days on market $125,000 Active 4 DOM
11. 2026-06-02
    days on market $125,000 Active 3 DOM
12. 2026-06-01
    days on market $125,000 Active 2 DOM

ⓘ 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: $1,347 · $112/mo
• Projected year-2 tax: $1,347 · $112/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $15,061
• − Mortgage interest: −$7,002
• − Property taxes: −$1,347
• − Insurance: −$625
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$3,636
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $2,050/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 — 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

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

+111.9% since first listed

12 events — show timeline

• 2026-05-29 Listed $125,000 AcadianaMLS
• 2026-05-29 Listed $125,000 GBRMLS
• 2022-12-05 Sold (Public Records) $113,000 Public Records
• 2022-12-01 Sold (MLS) — GSREIN
• 2022-11-22 Rental Removed — GSREIN
• 2022-10-20 Pending — GSREIN
• 2022-10-04 Listed $114,750 GSREIN
• 2022-10-04 Listed $114,750 AcadianaMLS
• 2004-07-27 Sold (Public Records) — Public Records
• 2004-07-23 Sold (MLS) — GSREIN
• 2004-06-26 Listed $59,000 GSREIN
• 2004-06-26 Listed $59,000 AcadianaMLS

Property tax history

+9.8%/yr

Latest (2025): $1,347 · -6.1% YoY. Source: county tax records.