2029 Wellington Ln · Slidell, LA 70461

$168,000

3 bd · 2.0 ba · 1,318 sqft · SingleFamily public records · 185 Days on market

Built 1985 10,358 sqft lot Est $166k · 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 +22.7/30.0
• DSCR +7.3/10.0
• ARV discount +7.0/15.0
• 1% rule +5.8/10.0
• 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

Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

Key facts

• Entertaining space
• Large yard
• Sunroom

Tags

• LARGE YARD
• ENTERTAINING SPACE
• SUNROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $148k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• 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); 594 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $5k 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 185 days — a 12% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y ago; this cycle's ask has dropped $14k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.08% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.37%
• DSCR: 1.33
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $166,068
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2029 Wellington Ln	0.00mi	3/2.0	1,350 (+2%)	1mo	$155,000	$115	95
323 Almond Creek Rd	0.53mi	3/2.0	1,326 (+1%)	4mo	$89,980	$68	71
105 Foxcroft Dr	0.41mi	3/2.0	1,430 (+8%)	3mo	$179,000	$125	64
300 Somerset Dr	0.43mi	3/2.0	1,390 (+6%)	11mo	$169,000	$122	62
307 Almond Creek Rd	0.45mi	4/2.0 (+1)	1,351 (+2%)	12mo	$205,000	$152	60
130 Trafalgar Sq	0.38mi	3/2.0	1,136 (-14%)	1mo	$166,000	$146	58
1811 Admiral Nelson Dr	0.33mi	4/2.0 (+1)	1,441 (+9%)	8mo	$235,000	$163	58
304 Almond Creek Rd	0.42mi	3/2.0	1,194 (-9%)	10mo	$115,500	$97	57
134 Foxbriar Ct	0.73mi	4/2.0 (+1)	1,335 (+1%)	7mo	$188,500	$141	53
1714 Kings Row	0.38mi	3/2.0	1,500 (+14%)	10mo	$189,000	$126	50
1409 Kings Row	0.68mi	3/2.0	1,510 (+15%)	2mo	$132,000	$87	43
314 Brookhaven Ct	0.63mi	4/2.0 (+1)	1,505 (+14%)	2mo	$239,000	$159	40

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: -9.0%
• Equity multiple: 0.67×
• Total profit: $-15,305
• Equity at exit: $25,049

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-4,065
• Equity at exit: $14,526

Cash invested: $47,040 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,810 high
• Mortgage (P&I): −$881
• Tax from tax record: −$190 /mo · $2,276/yr
• Insurance: −$70
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $222

Break-even live

Break-even rent $1,528

Max offer price $168,000

Occupancy floor 83%

Sensitivity live

Price	-10% $317	-5% $270	+0% $222	+5% $175	+10% $127
Rent	-10% $79	-5% $151	+0% $222	+5% $294	+10% $365
Rate	-1.0pp $307	-0.5pp $265	base $222	+0.5pp $179	+1.0pp $135

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1805 Brookter St Slidell, LA	3.0	2.0	1027	$1,650	$1.61	5d	1	0.13mi
2012 Dylan Dr Slidell, LA	3.0	2.0	1700	$1,950	$1.15	25d	1	0.13mi
1918 Hempstead Dr Unit NA Slidell, LA	4.0	2.0	1615	$1,750	$1.08	25d	1	0.18mi
1000 Clairise Ct Slidell, LA	3.0	2.0	1319	$1,900	$1.44	45d	1	0.37mi
1402 Shakespeare Ct Slidell, LA	4.0	2.0	1347	$1,725	$1.28	45d	1	0.46mi
310 Foxcroft Dr Slidell, LA	4.0	2.0	1535	$1,950	$1.27	25d	1	0.62mi
128 Foxbriar Ct Slidell, LA	3.0	2.0	1395	$1,650	$1.18	45d	1	0.76mi
221 Bella Sera Ln Slidell, LA	3.0	2.0	1028	$1,525	$1.48	13d	1	0.86mi
57346 Maple Ave Slidell, LA	3.0	2.5	1550	$1,500	$0.97	45d	1	0.89mi
57389 Brookter Rd Slidell, LA	2.0	1.0	971	$1,200	$1.24	21d	1	0.94mi
57376 Beech Ave Slidell, LA	2.0	1.5	1000	$1,350	$1.35	19d	1	1.02mi
57376 Beech Ave Slidell, LA	2.0	1.5	1004	$1,350	$1.34	16d	1	1.02mi
577 Panther Dr Slidell, LA	3.0	2.0	1483	$1,850	$1.25	5d	1	1.07mi
1640 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	959	$1,895	$1.98	4d	46	1.10mi
1303 Town Center Pkwy Slidell, LA	3.0	1.0–2.0	990	$1,825	$1.84	4d	31	1.35mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,373	$1.23	3d	1	1.49mi

Listing history 26 events

1. 2026-04-20
   status Pending 231-char remark

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

2. 2026-04-20
   status Pending

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

3. 2026-03-26
   status Active 231-char remark

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

4. 2026-03-26
   status Active

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

5. 2026-03-26
   historical

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

6. 2026-02-02
   price $168,000 231-char remark

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

7. 2026-02-02
   price $168,000

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

8. 2025-11-23
   price $171,000 231-char remark

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

9. 2025-11-23
   price $171,000

   Show marketing remark (231 chars)

   Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

10. 2025-11-03
    price $176,000 231-char remark

    Show marketing remark (231 chars)

    Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

11. 2025-11-03
    price $176,000

    Show marketing remark (231 chars)

    Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

12. 2025-10-17
    status Active
13. 2025-10-16
    historical
14. 2025-10-15
    listed $182,000 Active 231-char remark

    Show marketing remark (231 chars)

    Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

15. 2025-10-15
    listed $182,000 Active

    Show marketing remark (231 chars)

    Great move in ready property! 3 bed 2 bath property with a large yard. Property has a large 3rd bedroom. Lots of great features that includes stainless steel appliances, lots of entertaining space and a great sunroom. A Must See! !

16. 2021-11-29
    soldstatus $160,155
17. 2021-11-23
    soldstatus $160,155 Closed
18. 2021-10-23
    status Pending
19. 2021-10-19
    listed $159,000
20. 2021-10-19
    listed $159,000 Active
21. 2003-02-05
    soldstatus $79,000
22. 2003-01-29
    soldstatus $79,000
23. 2002-09-07
    listed $82,500
24. 1997-04-30
    soldstatus $65,000
25. 1997-03-24
    listed $67,000
26. 1997-03-24
    listed $67,000

ⓘ 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: $2,276 · $190/mo
• Projected year-2 tax: $2,276 · $190/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 8/10 Severe FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,714
• − Mortgage interest: −$9,411
• − Property taxes: −$2,276
• − Insurance: −$1,637
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − Depreciation: −$4,887
• Taxable income: $29
• Est. tax owed @ 24.0%: −$7
• After-tax cash flow: $2,662/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

• 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

+150.7% since first listed

26 events — show timeline

• 2026-04-20 Pending — AcadianaMLS
• 2026-04-20 Pending — GSREIN
• 2026-03-26 Relisted — AcadianaMLS
• 2026-03-26 Relisted — GSREIN
• 2026-03-26 Listing Removed — GSREIN
• 2026-02-02 Price Changed $168,000 AcadianaMLS
• 2026-02-02 Price Changed $168,000 GSREIN
• 2025-11-23 Price Changed $171,000 AcadianaMLS
• 2025-11-23 Price Changed $171,000 GSREIN
• 2025-11-03 Price Changed $176,000 AcadianaMLS
• 2025-11-03 Price Changed $176,000 GSREIN
• 2025-10-17 Relisted — GSREIN
• 2025-10-16 Listing Removed — GSREIN
• 2025-10-15 Listed $182,000 GSREIN
• 2025-10-15 Listed $182,000 AcadianaMLS
• 2021-11-29 Sold (Public Records) $160,155 Public Records
• 2021-11-23 Sold (MLS) $160,155 GSREIN
• 2021-10-23 Pending — GSREIN
• 2021-10-19 Listed $159,000 GSREIN
• 2021-10-19 Listed $159,000 AcadianaMLS
• 2003-02-05 Sold (Public Records) $79,000 Public Records
• 2003-01-29 Sold (MLS) $79,000 GSREIN
• 2002-09-07 Listed $82,500 GSREIN
• 1997-04-30 Sold (MLS) $65,000 GSREIN
• 1997-03-24 Listed $67,000 GSREIN
• 1997-03-24 Listed $67,000 AcadianaMLS

Property tax history

+3.7%/yr

Latest (2025): $2,276 · -3.5% YoY. Source: county tax records.