Spruce Plan · Slidell, LA 70461

$272,900

5 bd · 2.0 ba · 1,856 sqft · SingleFamily · 157 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 +14.3/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Embark on a new adventure in our Spruce floorplan, featured in Lakeshore Villages, a new home community in Slidell, Louisiana. Inside this 5-bedroom, 2-bathroom home, you'll find 1,856 square feet of comfortable living. As you walk into this home, you'll be greeted by the first set of bedrooms along with the guest bathroom. Traveling down the hallway you'll see what open concept was meant to be with the kitchen, living and dining area all within reach of each other while being separate enough for individuality. Shaker-style cabinets and gooseneck pulldown faucets adorn the kitchen. The stainless-steel Frigidaire appliances, stove, microwave hood, dishwasher, and single basin under-mount sink, all paired with 3 cm granite countertops, will delight the family chef. The laundry room is conveniently placed across from the dining room for quick access. Situated beside the kitchen, the dining room and living room across from it ensure that everyone can stay engaged in the action, regardless of their location. Behind the dining room lies another hallway with another set of bedrooms. Each bedroom are carpeted, and has an adequate closet, allowing for space and storage throughout the home. The primary bathroom is large and contains an en suite with a massive walk-in closet, which houses the linins closet. The primary bathroom has dual vanities, a separate tub, and shower, along with a separate water closet. If you've shared a vanity before, you can no longer worry about that

Key facts

• Spruce floorplan
• Lakeshore villages
• Open concept

Tags

• SPRUCE FLOORPLAN
• LAKESHORE VILLAGES
• OPEN CONCEPT
• SHAKER-STYLE CABINETS
• GOOSENECK PULLDOWN FAUCETS
• STAINLESS-STEEL APPLIANCES

🏗️ New construction. The $272,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $275,999.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $273k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $49 ($584/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 $248k (9.3% below list).
• Recommended offer: $240k (12.0% below list) — sets the bar for market timing.

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 (+1.7%/yr); 594 active listings in the ZIP; 16 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).
• This rent runs 33% 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

• It's been on market 157 days — a 12% lower offer ($240k) is reasonable based on typical stale-listing flexibility.

Recommended offer $240,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (median comp): $275,999
• List price: $272,900
• Delta: -1.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5947 Belfast Bend Ct	0.04mi	4/2.5 (-1)	1,836 (-1%)	6mo	$292,000	$159	85
1442 Banks View St	0.22mi	4/2.0 (-1)	1,867 (+1%)	7mo	$250,000	$134	78
5444 Fornea Glen Way	0.06mi	4/3.0 (-1)	2,038 (+10%)	2mo	$302,000	$148	71
5441 Fornea Glen Way	0.06mi	4/2.0 (-1)	1,612 (-13%)	1mo	$249,900	$155	70
5472 Fornea Glen Way	0.06mi	4/2.0 (-1)	1,612 (-13%)	2mo	$256,005	$159	68
5460 Fornea Glen Way	0.06mi	4/2.0 (-1)	1,612 (-13%)	4mo	$244,900	$152	67
5468 Fornea Glen Way	0.06mi	4/2.0 (-1)	1,612 (-13%)	5mo	$243,900	$151	66
5464 Fornea Glen Way	0.06mi	4/2.0 (-1)	1,612 (-13%)	7mo	$249,900	$155	64
5345 Fulvetta Falls Rd	0.55mi	5/3.0	2,088 (+12%)	3mo	$290,000	$139	47
5536 Grand Springs Rd	0.65mi	4/2.0 (-1)	2,056 (+11%)	5mo	$171,000	$83	43
3381 Bellwick Bay Dr	0.67mi	4/2.0 (-1)	1,610 (-13%)	2mo	$239,900	$149	40
3435 Tide Wind Dr	0.74mi	4/2.0 (-1)	1,585 (-15%)	4mo	$235,000	$148	33

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-44,736
• Equity at exit: $41,152

10-year hold

• IRR: -10.7%
• Equity multiple: 0.39×
• Total profit: $-47,404
• Equity at exit: $23,863

Cash invested: $77,280 (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: 594
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,476 high
• Mortgage (P&I): −$1,447
• Tax est. 1.5%: −$345 /mo · $4,140/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $49

Break-even live

Break-even rent $2,414

Max offer price $275,999

Occupancy floor 93%

Sensitivity live

Price	-10% $239	-5% $144	+0% $49	+5% $-47	+10% $-142
Rent	-10% $-147	-5% $-49	+0% $49	+5% $146	+10% $244
Rate	-1.0pp $188	-0.5pp $119	base $49	+0.5pp $-23	+1.0pp $-96

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: $69,000
• Closing costs: $8,280
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5916 Honey Glade Rd Slidell, LA	4.0	2.0	2290	$2,600	$1.14	18d	1	0.22mi
5169 Clarkston Grove Dr Slidell, LA	4.0	3.0	2107	$2,250	$1.07	18d	1	0.48mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,510	$1.58	3d	14	0.52mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,610	$1.70	45d	1	0.52mi
5579 Grand Springs Rd Slidell, LA	4.0	2.0	1867	$2,200	$1.18	45d	1	0.59mi
5225 Summer Pecan Rd Slidell, LA	4.0	2.0	2079	$2,300	$1.11	25d	1	0.71mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,699	$1.50	3d	1	0.74mi
25 Oak Tree Dr Slidell, LA	4.0	2.5	2530	$2,900	$1.15	3d	1	0.76mi
5265 Summer Pecan Rd Slidell, LA	4.0	2.0	1647	$2,300	$1.40	3d	1	0.80mi
3635 Trestle Crossing Ave Slidell, LA	4.0	3.0	2208	$2,600	$1.18	45d	1	0.81mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,539	$1.38	3d	1	0.87mi
109 Oak Landing Ln Slidell, LA	4.0	2.0	1884	$2,350	$1.25	18d	1	0.92mi
479 Lakeshore Vlg E Slidell, LA	4.0	2.0	1893	$2,400	$1.27	25d	1	0.94mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	25d	1	1.04mi
289 Grand Isle Ct Slidell, LA	4.0	2.0	1980	$2,300	$1.16	45d	1	1.04mi
119 Ondine Ln Slidell, LA	4.0	2.0	2616	$3,000	$1.15	45d	1	1.47mi

Listing history 15 events

1. 2026-06-21
   days on market $272,900 Active 157 DOM
2. 2026-06-18
   days on market $272,900 Active 154 DOM
3. 2026-06-17
   days on market $272,900 Active 153 DOM
4. 2026-06-16
   days on market $272,900 Active 152 DOM
5. 2026-06-15
   days on market $272,900 Active 151 DOM
6. 2026-06-13
   days on market $272,900 Active 149 DOM
7. 2026-06-10
   days on market $272,900 Active 146 DOM
8. 2026-06-09
   days on market $272,900 Active 145 DOM
9. 2026-06-08
   days on market $272,900 Active 144 DOM
10. 2026-06-07
    days on market $272,900 Active 143 DOM
11. 2026-06-03
    days on market $272,900 Active 139 DOM
12. 2026-06-02
    days on market $272,900 Active 138 DOM
13. 2026-06-01
    days on market $272,900 Active 137 DOM
14. 2026-05-31
    days on market $272,900 Active 136 DOM
15. 2026-01-15
    listed $272,900 Active 1490-char remark

    Show marketing remark (1490 chars)

    Embark on a new adventure in our Spruce floorplan, featured in Lakeshore Villages, a new home community in Slidell, Louisiana. Inside this 5-bedroom, 2-bathroom home, you'll find 1,856 square feet of comfortable living. As you walk into this home, you'll be greeted by the first set of bedrooms along with the guest bathroom. Traveling down the hallway you'll see what open concept was meant to be with the kitchen, living and dining area all within reach of each other while being separate enough for individuality. Shaker-style cabinets and gooseneck pulldown faucets adorn the kitchen. The stainless-steel Frigidaire appliances, stove, microwave hood, dishwasher, and single basin under-mount sink, all paired with 3 cm granite countertops, will delight the family chef. The laundry room is conveniently placed across from the dining room for quick access. Situated beside the kitchen, the dining room and living room across from it ensure that everyone can stay engaged in the action, regardless of their location. Behind the dining room lies another hallway with another set of bedrooms. Each bedroom are carpeted, and has an adequate closet, allowing for space and storage throughout the home. The primary bathroom is large and contains an en suite with a massive walk-in closet, which houses the linins closet. The primary bathroom has dual vanities, a separate tub, and shower, along with a separate water closet. If you've shared a vanity before, you can no longer worry about that

ⓘ 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: $29,712
• − Mortgage interest: −$15,460
• − Property taxes: −$4,140
• − Insurance: −$1,380
• − Repairs & maintenance: −$2,377
• − Management: −$2,377
• − Depreciation: −$8,029
• Taxable loss: −$4,051
• Est. tax savings @ 24.0%: +$972
• After-tax cash flow: $1,556/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 · 6 photos

Excellent 100/100 None rehab

This Spruce Plan home in Slidell, Louisiana is in excellent condition with no visible repairs or maintenance needed. The well-maintained landscaping and interior features make it move-in ready and ideal for both resale and rental.

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics
• Both Replace carpet with hardwood or tile — Improves durability and resale value
• Both Install smart home technology — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with hardwood or tile — Improves durability and resale value ↑
• Both Install smart home technology — Enhances convenience and marketability ↑

ⓘ 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

1 event — show timeline

• 2026-01-15 Listed $272,900 Zillow