68306 Howard Oberry Rd · Pearl River, LA 70452

$150,000

3 bd · 3.0 ba · 2,560 sqft · SingleFamily · 161 Days on market

Built 2005 3.00 ac lot $59/sqft · 52% below area

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

Key facts

• Sheetrock walls
• Back porch
• Rebuilt in 2007

Tags

• 3 ACRES
• TORN DOWN TO THE FRAME
• REBUILT IN 2007
• SHEETROCK WALLS
• REAL KITCHEN CABINETS
• BACK PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.9% in Pearl River — 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 51/100 on livability (#419 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment 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: 157 active listings in the ZIP; 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 $4k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $19k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $150k implies a 614% gain — meaningful room to come down on a strong offer.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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: 1.11% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.71%
• DSCR: 1.52
• GRM: 7.5

CMA / ARV

• ARV (median comp): $312,793
• List price: $150,000
• Delta: -52.04%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,751
• Equity at exit: $22,365

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $34,923
• Equity at exit: $12,969

Cash invested: $42,000 (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 70452

• Home prices YoY: -26.1%
• Active inventory: 157
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$56 /mo · $667/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $410

Break-even live

Break-even rent $1,145

Max offer price $150,000

Occupancy floor 70%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $150,000 Active 161 DOM
2. 2026-06-17
   days on market $150,000 Active 160 DOM
3. 2026-06-16
   status $150,000 Active 159 DOM
4. 2026-04-14
   status Active 391-char remark

   Show marketing remark (392 chars)

   A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

5. 2026-04-14
   price $150,000 391-char remark

   Show marketing remark (392 chars)

   A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

6. 2026-04-14
   price $150,000 392-char remark

   Show marketing remark (392 chars)

   A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

7. 2026-04-14
   status Active 392-char remark

   Show marketing remark (392 chars)

   A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

8. 2026-03-27
   status Pending 391-char remark

   Show marketing remark (392 chars)

   A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

9. 2026-03-27
   historical Active Under Contract 392-char remark

   Show marketing remark (392 chars)

   A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

10. 2026-03-05
    price $164,999 391-char remark

    Show marketing remark (392 chars)

    A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

11. 2026-03-05
    price $164,999 392-char remark

    Show marketing remark (392 chars)

    A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

12. 2025-12-13
    listed $169,000 Active 391-char remark

    Show marketing remark (392 chars)

    A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

13. 2025-12-13
    listed $169,000 Active 392-char remark

    Show marketing remark (392 chars)

    A 32x80 mobile home on 3 acres. Mobile home was flooded in 2005, then moved to its current location, it was torn down to the frame and rebuilt in 2007. It has sheetrock walls, real kitchen cabinets and other things most mobile homes don't offer. One bedroom needs the sheetrock finished and needs flooring put on the sub floor, due to a recent renovation. It has a back porch, and a carport.

14. 1999-04-08
    soldstatus $21,000

ⓘ 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: $667 · $56/mo
• Projected year-2 tax: $825 · $69/mo
• Expected delta: +$158/yr (+$13/mo · 23.6%)

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

Taxation est. · year 1

• Rental income: $19,971
• − Mortgage interest: −$8,402
• − Property taxes: −$667
• − Insurance: −$750
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,364
• Taxable income: $2,592
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $4,298/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 — Pearl River

• Score: 51/100
• State rank: #419
• US rank: #25262

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,290

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Black 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 11% Romanian 1% Italian 1%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -55.29%
• Current HPI: 156.9714
• Rent YoY: —
• Metro: —
• 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

+614.3% since first listed

11 events — show timeline

• 2026-04-14 Relisted — AcadianaMLS
• 2026-04-14 Price Changed $150,000 AcadianaMLS
• 2026-04-14 Price Changed $150,000 GSREIN
• 2026-04-14 Relisted — GSREIN
• 2026-03-27 Pending — AcadianaMLS
• 2026-03-27 Contingent — GSREIN
• 2026-03-05 Price Changed $164,999 AcadianaMLS
• 2026-03-05 Price Changed $164,999 GSREIN
• 2025-12-13 Listed $169,000 GSREIN
• 2025-12-13 Listed $169,000 AcadianaMLS
• 1999-04-08 Sold (Public Records) $21,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $667 · -4.4% YoY. Source: county tax records.