74520 Epsilon Ave · Covington, LA 70435

$215,000

3 bd · 2.0 ba · 1,267 sqft · SingleFamily public records · 73 Days on market

Built 2002 7,200 sqft lot $170/sqft · 12% below area Est $240k · 10% under

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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 +15.1/30.0
• ARV discount +12.2/15.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• 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

Welcome to 74520 Epsilon Avenue in Covington, a charming home full of potential, perfectly suited for buyers looking for value, space, and a great location. Tucked away on a peaceful, wooded street and surrounded by newer construction, this home offers a welcoming setting ideal for everyday living. Inside, you’ll find a spacious layout featuring 10-foot ceilings, crown molding, laminate flooring, and a cozy wood-burning fireplace that anchors the living area. The kitchen includes a tiled backsplash, high-top bar seating, pot rack, and a separate pantry, while the dining area opens directly to one of the home’s standout features. .. an oversized covered back patio, perfect for gatherings, relaxing evenings, or weekend entertaining. The backyard is fully fenced, nicely landscaped, and complete with a swing, storage shed, and dual side gate access for added convenience. The temperature-controlled attached garage with additional storage offers flexibility for a workshop, hobby space, or even specialty vehicle storage. The primary suite features a large soaking tub, creating a comfortable retreat at the end of the day. Located in Flood Zone C, offering added peace of mind with no flood insurance required. With a little love, this home presents an incredible opportunity to make it your own while enjoying a location surrounded by growth and new development. Call today to schedule your appointment :)

Key facts

• Separate pantry
• Large soaking tub
• 7,200 sq ft lot

Tags

• OVERSIZED COVERED BACK PATIO
• FULLY FENCED BACKYARD
• TEMPERATURE CONTROLLED GARAGE
• DUAL SIDE GATE ACCESS
• LARGE SOAKING TUB
• SEPARATE PANTRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $70 ($839/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 $197k (8.4% below list).
• Recommended offer: $197k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 1 comparable units currently listed for rent nearby; 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 $6k 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 73 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $99k; list at $215k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 $196,933 (8.4% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 8% 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: 0.92% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.39%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $239,904
• List price: $215,000
• Delta: -10.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74524 Epsilon Ave	0.02mi	3/2.0	1,268 (+0%)	12mo	$185,625	$146	89
74434 Delta Ave	0.16mi	3/2.0	1,318 (+4%)	2mo	$245,000	$186	84
74499 Epsilon Ave	0.04mi	4/1.0 (+1)	1,287 (+2%)	7mo	$179,000	$139	81
20056 Palm Blvd	0.18mi	3/2.0	1,344 (+6%)	1mo	$235,000	$175	80
20152 Palm Blvd	0.10mi	3/2.0	1,389 (+10%)	3mo	$230,000	$166	77
74517 Beta Ave	0.20mi	3/2.0	1,340 (+6%)	12mo	$202,000	$151	72
74503 Gamma Ave	0.14mi	3/2.0	1,302 (+3%)	24mo	$215,000	$165	69
74515 Zeta Ave	0.03mi	3/2.0	1,350 (+7%)	23mo	$220,000	$163	69
20413 Palm Blvd	0.19mi	3/2.0	1,424 (+12%)	10mo	$243,200	$171	62
74453 Gamma Ave	0.18mi	3/2.0	1,453 (+15%)	6mo	$229,000	$158	62
74413 Delta Ave	0.21mi	2/1.0 (-1)	1,100 (-13%)	8mo	$185,000	$168	53
74377 Iota Ave	0.24mi	3/2.0	1,424 (+12%)	20mo	$225,500	$158	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.50×
• Total profit: $-30,354
• Equity at exit: $32,057

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-20,574
• Equity at exit: $18,589

Cash invested: $60,200 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,969 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $70

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 91%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20104 Palm Blvd Covington, LA	3.0	2.0	1434	$1,750	$1.22	16d	1	0.13mi

Listing history 4 events

1. 2026-05-31
   status $215,000 Pending 73 DOM
2. 2026-03-18
   listed $215,000 Active 1427-char remark

   Show marketing remark (1413 chars)

   Welcome to 74520 Epsilon Avenue in Covington, a charming home full of potential, perfectly suited for buyers looking for value, space, and a great location. Tucked away on a peaceful, wooded street and surrounded by newer construction, this home offers a welcoming setting ideal for everyday living. Inside, you'll find a spacious layout featuring 10-foot ceilings, crown molding, laminate flooring, and a cozy wood-burning fireplace that anchors the living area. The kitchen includes a tiled backsplash, high-top bar seating, pot rack, and a separate pantry, while the dining area opens directly to one of the home's standout features...an oversized covered back patio, perfect for gatherings, relaxing evenings, or weekend entertaining. The backyard is fully fenced, nicely landscaped, and complete with a swing, storage shed, and dual side gate access for added convenience. The temperature-controlled attached garage with additional storage offers flexibility for a workshop, hobby space, or even specialty vehicle storage. The primary suite features a large soaking tub, creating a comfortable retreat at the end of the day. Located in Flood Zone C, offering added peace of mind with no flood insurance required. With a little love, this home presents an incredible opportunity to make it your own while enjoying a location surrounded by growth and new development. Call today to schedule your appointment :)

3. 2026-03-18
   listed $215,000 Active 1413-char remark

   Show marketing remark (1413 chars)

   Welcome to 74520 Epsilon Avenue in Covington, a charming home full of potential, perfectly suited for buyers looking for value, space, and a great location. Tucked away on a peaceful, wooded street and surrounded by newer construction, this home offers a welcoming setting ideal for everyday living. Inside, you'll find a spacious layout featuring 10-foot ceilings, crown molding, laminate flooring, and a cozy wood-burning fireplace that anchors the living area. The kitchen includes a tiled backsplash, high-top bar seating, pot rack, and a separate pantry, while the dining area opens directly to one of the home's standout features...an oversized covered back patio, perfect for gatherings, relaxing evenings, or weekend entertaining. The backyard is fully fenced, nicely landscaped, and complete with a swing, storage shed, and dual side gate access for added convenience. The temperature-controlled attached garage with additional storage offers flexibility for a workshop, hobby space, or even specialty vehicle storage. The primary suite features a large soaking tub, creating a comfortable retreat at the end of the day. Located in Flood Zone C, offering added peace of mind with no flood insurance required. With a little love, this home presents an incredible opportunity to make it your own while enjoying a location surrounded by growth and new development. Call today to schedule your appointment :)

4. 2002-08-28
   soldstatus $99,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,632
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$6,255
• Taxable loss: −$2,747
• Est. tax savings @ 24.0%: +$659
• After-tax cash flow: $1,499/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

+117.2% since first listed

3 events — show timeline

• 2026-03-18 Listed $215,000 AcadianaMLS
• 2026-03-18 Listed $215,000 GSREIN
• 2002-08-28 Sold (Public Records) $99,000 Public Records

Property tax history

-11.2%/yr

Latest (2025): $333 · -3.8% YoY. Source: county tax records.