82060 Green Hills Dr · Covington, LA 70435

$50,000

1 bd · None ba · 695 sqft · SingleFamily · 182 Days on market

Built 1999 1.00 ac lot ↓ 28% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

Key facts

• Water well house
• Paved public road
• Water well

Tags

• 1 ACRE LOT
• LARGE CARPORT
• WATER WELL HOUSE
• CLEARED LAND
• PAVED PUBLIC ROAD
• WATER WELL

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $740 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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; 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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: 2.63% ✓
• Cap rate: 24.05%
• Cash-on-cash: 63.42%
• DSCR: 3.82
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.4%
• Equity multiple: 3.79×
• Total profit: $39,010
• Equity at exit: $7,455

10-year hold

• IRR: 66.9%
• Equity multiple: 7.76×
• Total profit: $94,607
• Equity at exit: $4,323

Cash invested: $14,000 (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 70435

• Home prices YoY: -27.3%
• Active inventory: 365
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$15 /mo · $180/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $740

Break-even live

Break-even rent $377

Max offer price $50,000

Occupancy floor 39%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $50,000 Active 182 DOM
2. 2026-06-17
   days on market $50,000 Active 181 DOM
3. 2026-06-16
   days on market $50,000 Active 180 DOM
4. 2026-06-15
   days on market $50,000 Active 179 DOM
5. 2026-06-13
   days on market $50,000 Active 177 DOM
6. 2026-06-10
   days on market $50,000 Active 174 DOM
7. 2026-06-09
   days on market $50,000 Active 173 DOM
8. 2026-06-08
   days on market $50,000 Active 172 DOM
9. 2026-06-07
   days on market $50,000 Active 171 DOM
10. 2026-06-03
    days on market $50,000 Active 167 DOM
11. 2026-06-02
    days on market $50,000 Active 166 DOM
12. 2026-06-01
    days on market $50,000 Active 165 DOM
13. 2026-05-31
    days on market $50,000 Active 164 DOM
14. 2026-04-25
    price $50,000 600-char remark

    Show marketing remark (495 chars)

    This is a stunning 1 acre lot. The land is cleared with electricity, paved public road. Beautiful Country Side with rolling hills and backs up to a cattle pasture. Located at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in the subdivision and "No HOA fees". There is a large carport used as a water well house, and septic but they have not been used for years. There is a small unfinished building on the property, do not enter it is unsafe, photos in mls#2534665.

15. 2026-04-25
    price $50,000 495-char remark

    Show marketing remark (495 chars)

    This is a stunning 1 acre lot. The land is cleared with electricity, paved public road. Beautiful Country Side with rolling hills and backs up to a cattle pasture. Located at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in the subdivision and "No HOA fees". There is a large carport used as a water well house, and septic but they have not been used for years. There is a small unfinished building on the property, do not enter it is unsafe, photos in mls#2534665.

16. 2026-04-24
    price $50,000
17. 2026-04-24
    price $50,000
18. 2026-03-20
    status Active 600-char remark

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

19. 2026-03-20
    status Active

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

20. 2026-03-19
    status Pending 600-char remark

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

21. 2026-03-18
    status Pending
22. 2026-03-02
    price $60,000 600-char remark

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

23. 2026-03-02
    price $60,000

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

24. 2026-02-02
    price $65,000 600-char remark

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

25. 2026-02-02
    price $65,000

    Show marketing remark (600 chars)

    ATTENTION INVESTORS, LOOK AT THIS ONE! This is a stunning 1 acre lot. The land is cleared with electricity, paved public road, a 26 year old water well & a concrete septic tank. Beautiful Country Side, at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in a subdivision and "No HOA fees". There is an unfinish home approx. 650-700 sq ft. *WARNING* there are no stairs and the porch is unfinished entering the building, but we have photos, so please view them. There is a large carport used as a water well house. Sold "as is". This is a must see! Call today!

26. 2025-12-15
    listed $69,000 Active 600-char remark

    Show marketing remark (495 chars)

    This is a stunning 1 acre lot. The land is cleared with electricity, paved public road. Beautiful Country Side with rolling hills and backs up to a cattle pasture. Located at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in the subdivision and "No HOA fees". There is a large carport used as a water well house, and septic but they have not been used for years. There is a small unfinished building on the property, do not enter it is unsafe, photos in mls#2534665.

27. 2025-12-15
    listed $60,000 Active 495-char remark

    Show marketing remark (495 chars)

    This is a stunning 1 acre lot. The land is cleared with electricity, paved public road. Beautiful Country Side with rolling hills and backs up to a cattle pasture. Located at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in the subdivision and "No HOA fees". There is a large carport used as a water well house, and septic but they have not been used for years. There is a small unfinished building on the property, do not enter it is unsafe, photos in mls#2534665.

28. 2025-12-15
    listed $69,000 Active

    Show marketing remark (495 chars)

    This is a stunning 1 acre lot. The land is cleared with electricity, paved public road. Beautiful Country Side with rolling hills and backs up to a cattle pasture. Located at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in the subdivision and "No HOA fees". There is a large carport used as a water well house, and septic but they have not been used for years. There is a small unfinished building on the property, do not enter it is unsafe, photos in mls#2534665.

29. 2025-12-15
    listed $60,000 Active

    Show marketing remark (495 chars)

    This is a stunning 1 acre lot. The land is cleared with electricity, paved public road. Beautiful Country Side with rolling hills and backs up to a cattle pasture. Located at the entrance of Bleu Lake Hills Subdivision and Section Road. Not in the subdivision and "No HOA fees". There is a large carport used as a water well house, and septic but they have not been used for years. There is a small unfinished building on the property, do not enter it is unsafe, photos in mls#2534665.

ⓘ 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: $180 · $15/mo
• Projected year-2 tax: $275 · $23/mo
• Expected delta: +$95/yr (+$8/mo · 52.8%)

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

Taxation est. · year 1

• Rental income: $15,765
• − Mortgage interest: −$2,801
• − Property taxes: −$180
• − Insurance: −$250
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$1,455
• Taxable income: $8,558
• Est. tax owed @ 24.0%: −$2,054
• After-tax cash flow: $6,824/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

-27.5% since first listed

16 events — show timeline

• 2026-04-25 Price Changed $50,000 AcadianaMLS
• 2026-04-25 Price Changed $50,000 AcadianaMLS
• 2026-04-24 Price Changed $50,000 GSREIN
• 2026-04-24 Price Changed $50,000 GSREIN
• 2026-03-20 Relisted — AcadianaMLS
• 2026-03-20 Relisted — GSREIN
• 2026-03-19 Pending — AcadianaMLS
• 2026-03-18 Pending — GSREIN
• 2026-03-02 Price Changed $60,000 AcadianaMLS
• 2026-03-02 Price Changed $60,000 GSREIN
• 2026-02-02 Price Changed $65,000 AcadianaMLS
• 2026-02-02 Price Changed $65,000 GSREIN
• 2025-12-15 Listed $60,000 GSREIN
• 2025-12-15 Listed $69,000 GSREIN
• 2025-12-15 Listed $60,000 AcadianaMLS
• 2025-12-15 Listed $69,000 AcadianaMLS

Property tax history

-9.4%/yr

Latest (2025): $180 · -3.7% YoY. Source: county tax records.