3838 Pontchartrain Dr Unit C109 · Slidell, LA 70458

$39,900

2 bd · 1.0 ba · 840 sqft · Condo public records · 11 Days on market

Built 1960 $140/mo HOA · 11% of rent

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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 +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well built steel and wood frame brick building, condo complex with 40 units situated in three buildings. 20 units on the ground floor and 20 units on the second floor. Subject unit is vacant and sold as is, seller will not make any repairs what so ever. Two bedrooms, one bath featuring a walk in shower with full kitchen including refrigerator, dishwasher. All cash sale only. Condo dues include fire insurance, grounds keeping, exterior lights, water, and sewerage provided. Buyer must supply their own flood insurance, wind and hail coverage, interior coverage. One parking space per unit only.

Key facts

• $140 HOA
• Parking
• Built 1960

Property features AI

Finance

• Financial info: Multifamily property with 40 total units; Pets allowed (cats and dogs; pet restrictions apply)
• HOA & community: Pine Terrace Condo association; Association fee $140; Association covers common areas and water; Common grounds/area

Exterior

• Parking: Parking available (1 space)
• Utilities: Public water; Public sewer
• Home design: Brick property; 1 story (unit level), 2 total stories; Average condition
• Construction: Brick construction; Membrane roof; Slab foundation; Kitchen floor updated
• Exterior features: Concrete patio/porch; City lot

Interior

• Kitchen: Dishwasher; Oven; Range; Updated kitchen cabinets
• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Has heating
• Interior features: Ceiling fans; Pantry
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $40k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 24.6% 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); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL) — zoned schools average 66% FRL vs 40% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 49% district-wide (-21 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 (+1.5%/yr); 489 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $276 of loan paydown is wiped out by about $1k 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 + 1.5% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.12% ✓
• Cap rate: 24.58%
• Cash-on-cash: 65.33%
• DSCR: 3.91
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: 62.6%
• Equity multiple: 3.73×
• Total profit: $30,464
• Equity at exit: $5,949

10-year hold

• IRR: 66.6%
• Equity multiple: 7.20×
• Total profit: $69,220
• Equity at exit: $3,450

Cash invested: $11,172 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,245 high
• Mortgage (P&I): −$209
• Tax from tax record: −$9 /mo · $114/yr
• Insurance: −$17
• HOA: −$140
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $608

Break-even live

Break-even rent $475

Max offer price $39,900

Occupancy floor 46%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Spartan Dr Slidell, LA	1.0–2.0	1.0–2.0	880	$1,502	$1.71	3d	8	0.55mi
519 Spartan Dr #9205 Slidell, LA	1.0	1.0	851	$1,100	$1.29	43d	1	0.80mi
509 Spartan Dr #5208 Slidell, LA	1.0	1.0	831	$1,150	$1.38	1d	1	0.81mi
511 Spartan Dr #6102 Slidell, LA	1.0	1.0	662	$1,000	$1.51	43d	1	0.83mi
2864 Slidell Ave Slidell, LA	3.0	1.0	963	$1,395	$1.45	3d	1	0.83mi
3159 Dee St Slidell, LA	3.0	1.0	898	$1,400	$1.56	43d	1	0.93mi
901 Old Spanish Trl Slidell, LA	2.0	1.5	1070	$1,120	$1.05	11d	1	0.93mi
4456 Pontchartrain Dr Unit 7 Slidell, LA	2.0	1.0	850	$995	$1.17	3d	1	0.97mi
4456 Pontchartrain Dr Unit 15 Slidell, LA	2.0	1.0	850	$1,195	$1.41	21d	1	0.97mi
4480 Pontchartrain Dr Unit 4480-107 Slidell, LA	1.0	1.0	627	$950	$1.52	23d	1	1.11mi
4480 Pontchartrain Dr Slidell, LA	1.0	1.0	627	$950	$1.52	15d	1	1.11mi
2594 Front St Unit 3 Slidell, LA	1.0	1.0	800	$1,250	$1.56	43d	1	1.21mi
4504 Pontchartrain Dr Slidell, LA	2.0	2.0	821	$1,250	$1.52	23d	1	1.25mi

HOA detail condo

• Monthly dues: $140 · $1,680/yr
• Likely covers: watersewerlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-10
   status $39,900 Pending 11 DOM
2. 2026-06-09
   days on market $39,900 Active 11 DOM
3. 2026-06-08
   days on market $39,900 Active 10 DOM
4. 2026-06-07
   days on market $39,900 Active 9 DOM
5. 2026-06-03
   days on market $39,900 Active 5 DOM
6. 2026-06-02
   days on market $39,900 Active 4 DOM
7. 2026-06-01
   days on market $39,900 Active 3 DOM
8. 2026-05-31
   days on market $39,900 Active 2 DOM

ⓘ 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: $114 · $9/mo
• Projected year-2 tax: $219 · $18/mo
• Expected delta: +$106/yr (+$9/mo · 93.3%)

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

Taxation est. · year 1

• Rental income: $14,940
• − Mortgage interest: −$2,235
• − Property taxes: −$114
• − Insurance: −$200
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − HOA: −$1,680
• − Depreciation: −$1,161
• Taxable income: $7,161
• Est. tax owed @ 24.0%: −$1,719
• After-tax cash flow: $5,580/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

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $39,900 AcadianaMLS
• 2026-05-21 Listed $39,900 GSREIN

Property tax history

-17.2%/yr

Latest (2021): $114 · +0.0% YoY. Source: county tax records.