5536 Grand Springs Rd · Slidell, LA 70461

$269,900

4 bd · 2.0 ba · 2,079 sqft · SingleFamily public records · 13 Days on market

Built 2022 Good condition 6,372 sqft lot Est $413k · 35% under · waterfront

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful open floor plan home ready for you to move in! This home features a spacious kitchen with an island, stainless steel appliances, granite countertops, and abundant cabinet space. Enjoy the large living room and generously sized bedrooms, all equipped with ceiling fans for added comfort. Step outside to a nice fenced backyard, perfect for relaxing or entertaining, and take advantage of the convenient location near the lake. Don't miss this wonderful opportunity to make this home yours

Key facts

• Open floor plan
• Spacious kitchen
• Granite countertops

Tags

• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• ISLAND
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• ABUNDANT CABINET SPACE

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage
• Utilities: Public water service; Public sewer service
• Home design: Detached single-family residence; Residential property
• Construction: Vinyl siding and brick exterior; Slab foundation; Built by D.R. Horton, Inc. - Gulf Coast
• Exterior features: Public water; Public sewer; Lot in Lakeshore Villages subdivision; Lot dimensions approximately 50 x 150

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-42 ($-505/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (11.6% below list).
• Recommended offer: $239k (11.6% 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: W.L. Abney Elementary School (math 31% / reading 38%, grade F, #284 of 646 statewide, top 46%, 1,094 students, 70% FRL); St. Tammany Junior High School (math 19% / reading 41%, grade F, #114 of 218 statewide, top 53%, 793 students, 68% FRL); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL) — zoned schools average 67% FRL vs 40% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 49% district-wide (-20 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 603 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• This rent runs 32% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $238,521 (11.6% 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $412,578
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5345 Fulvetta Falls Rd	0.15mi	5/3.0 (+1)	2,088 (+0%)	3mo	$290,000	$139	81
5161 Spillway Manor Dr	0.69mi	4/2.0	2,051 (-1%)	2mo	$283,900	$138	64
120 Lakeshore Village St S	0.69mi	4/2.0	2,111 (+2%)	2mo	$295,000	$140	64
5444 Fornea Glen Way	0.60mi	4/3.0	2,038 (-2%)	2mo	$302,000	$148	63
4386 Marais River Dr	0.44mi	4/3.0	2,208 (+6%)	2mo	$235,000	$106	63
3311 Tide Wind Dr	0.75mi	4/2.0	2,051 (-1%)	1mo	$297,900	$145	62
5132 Spillway Manor Dr	0.62mi	5/3.0 (+1)	2,016 (-3%)	1mo	$296,795	$147	56
5152 Spillway Manor Dr	0.67mi	5/3.0 (+1)	2,016 (-3%)	3mo	$294,900	$146	52
5148 Spillway Manor Dr	0.66mi	4/2.0	1,819 (-12%)	3mo	$269,900	$148	46
5164 Spillway Manor Dr	0.70mi	4/2.0	1,819 (-12%)	1mo	$273,900	$151	46
5169 Spillway Manor Dr	0.71mi	4/2.0	1,819 (-12%)	1mo	$273,900	$151	45
5449 Fornea Glen Way	0.60mi	3/2.5 (-1)	1,776 (-15%)	2mo	$274,900	$155	39

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: -18.9%
• Equity multiple: 0.35×
• Total profit: $-49,377
• Equity at exit: $40,243

10-year hold

• IRR: -14.2%
• Equity multiple: 0.23×
• Total profit: $-58,281
• Equity at exit: $23,336

Cash invested: $75,572 (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 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 603
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,385 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$399 /mo · $4,783/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $-42

Break-even live

Break-even rent $2,439

Max offer price $262,462

Occupancy floor 97%

Sensitivity live

Price	-10% $111	-5% $34	+0% $-42	+5% $-118	+10% $-195
Rent	-10% $-231	-5% $-136	+0% $-42	+5% $52	+10% $146
Rate	-1.0pp $94	-0.5pp $27	base $-42	+0.5pp $-112	+1.0pp $-183

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5579 Grand Springs Rd Slidell, LA	4.0	2.0	1867	$2,200	$1.18	46d	1	0.10mi
5169 Clarkston Grove Dr Slidell, LA	4.0	3.0	2107	$2,250	$1.07	20d	1	0.19mi
7535 1st Lake Dr Slidell, LA	3.0	2.0	1564	$2,195	$1.40	20d	1	0.19mi
3635 Trestle Crossing Ave Slidell, LA	4.0	3.0	2208	$2,600	$1.18	46d	1	0.24mi
713 Lakeshore Vlg E Slidell, LA	3.0	2.0	1563	$2,100	$1.34	46d	1	0.35mi
109 Oak Landing Ln Slidell, LA	4.0	2.0	1884	$2,350	$1.25	20d	1	0.38mi
479 Lakeshore Vlg E Slidell, LA	4.0	2.0	1893	$2,400	$1.27	26d	1	0.38mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	46d	1	0.42mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	26d	1	0.42mi
5916 Honey Glade Rd Slidell, LA	4.0	2.0	2290	$2,600	$1.14	20d	1	0.43mi
948 Channel Bend Ct Slidell, LA	5.0	2.5	2658	$2,800	$1.05	24d	1	0.50mi
408 Lakeshore Vlg E Slidell, LA	3.0	2.0	1785	$2,395	$1.34	0d	1	0.54mi
5225 Summer Pecan Rd Slidell, LA	4.0	2.0	2079	$2,300	$1.11	26d	1	0.67mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,510	$1.58	0d	14	0.72mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,610	$1.70	47d	1	0.72mi
5265 Summer Pecan Rd Slidell, LA	4.0	2.0	1647	$2,300	$1.40	4d	1	0.75mi
3616 Spruce Key Ln Slidell, LA	3.0	2.0	1635	$2,395	$1.46	0d	1	0.75mi
7861 Camellia Bud Ct Slidell, LA	4.0	3.5	2680	$2,950	$1.10	18d	1	0.93mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,699	$1.50	0d	1	1.10mi
25 Oak Tree Dr Slidell, LA	4.0	2.5	2530	$2,900	$1.15	0d	1	1.39mi
44 Oak Tree Dr Slidell, LA	4.0	2.5	2775	$3,000	$1.08	4d	1	1.50mi

Listing history 11 events

1. 2026-06-22
   days on market $269,900 Active 13 DOM
2. 2026-06-21
   remarks 699-char remark
3. 2026-06-21
   days on market $269,900 Active 12 DOM
4. 2026-06-18
   days on market $269,900 Active 9 DOM
5. 2026-06-17
   days on market $269,900 Active 8 DOM
6. 2026-06-16
   days on market $269,900 Active 7 DOM
7. 2026-06-15
   days on market $269,900 Active 6 DOM
8. 2026-06-13
   remarks 538-char remark
9. 2026-06-13
   days on market $269,900 Active 4 DOM
10. 2026-06-10
    remarks 497-char remark
11. 2026-06-10
    listed $269,900 Active 1 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: $4,783 · $399/mo
• Projected year-2 tax: $4,783 · $399/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: $28,623
• − Mortgage interest: −$15,119
• − Property taxes: −$4,783
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − Depreciation: −$7,852
• Taxable loss: −$5,060
• Est. tax savings @ 24.0%: +$1,214
• After-tax cash flow: $709/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 · 11 photos

Good 80/100 Cosmetic rehab

This move-in-ready home features a spacious kitchen, modern bathrooms, and hardwood flooring. The exterior is well-maintained, and the home is located in a desirable community with amenities and easy access to major highways.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value
• Both Replace ceiling fans with modern fixtures — Modern fans can improve aesthetics and energy efficiency
• Both Install smart home devices — Smart home devices can increase home's marketability and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value ↑
• Both Replace ceiling fans with modern fixtures — Modern fans can improve aesthetics and energy efficiency ↑
• Both Install smart home devices — Smart home devices can increase home's marketability and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Saint Tammany Parish · 228,296 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: 328.0

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: 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%

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

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

+17.3% since first listed

9 events — show timeline

• 2026-06-09 Listed $269,900 GBRMLS
• 2026-06-09 Listed $269,900 AcadianaMLS
• 2026-02-05 Sold (MLS) — AcadianaMLS
• 2026-02-05 Sold (MLS) — GSREIN
• 2025-12-17 Pending — GSREIN
• 2025-11-25 Price Changed $211,600 AcadianaMLS
• 2025-11-25 Price Changed $211,600 GSREIN
• 2025-10-09 Listed $230,000 AcadianaMLS
• 2025-10-09 Listed $230,000 GSREIN

Property tax history

+5.3%/yr

Latest (2025): $4,783 · -2.4% YoY. Source: county tax records.