68382 Abney Dr · Abita Springs, LA 70471

$185,000

2 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 4 Days on market

Built 2007 0.93 ac lot Est $273k · 32% under

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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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Abney Drive, a rare find tucked in a quiet desirable neighborhood in Mandeville! Nearly a full acre surrounds this lifted cottage that has never flooded. The 2-bedroom, 2-bath layout is waiting for your unique touch. No HOA means no restrictions, park your boat, bring your RV, and make this space truly your own. The possibilities are endless. Make this you're forever home, call today for a private showing.

Key facts

• Never flooded
• Park your boat
• No hoa

Tags

• NEVER FLOODED
• NO HOA
• PARK YOUR BOAT
• BRING YOUR RV

Property features AI

Finance

• Other: Outside city limits; Oversized lot (approximately 0.93 acres); Lot dimensions approximately 196 x 205 x 195 x 209

Exterior

• Parking: Driveway
• Utilities: Well water; Septic tank
• Home design: Single-story; Raised foundation
• Construction: Shingle roof
• Exterior features: Covered porch; Porch; Shed(s)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Wood-burning fireplace; Total of 5 rooms; Average condition

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-13 ($-153/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (15.7% below list).
• Recommended offer: $156k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.6% in Abita Springs — 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 77/100 on livability (#11 in LA, #3,024 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing 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: Marigny Elementary School (456 students, 33% FRL); Fontainebleau Junior High School (math 38% / reading 62%, grade C, #26 of 218 statewide, top 12%, 877 students, 37% FRL); Fontainebleau High School (math 56% / reading 61%, grade C, #23 of 265 statewide, top 9%, 1,677 students, 33% FRL).
• Market conditions: Rents rising (+3.3%/yr); 231 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 $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

• Only 4 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.
• Current owner paid $37k; list at $185k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,934 (15.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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: 0.84% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $273,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23613 Robert Rd	0.42mi	3/2.0 (+1)	1,448 (+10%)	23mo	$300,000	$207	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 · 3.32% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-30,284
• Equity at exit: $27,584

10-year hold

• IRR: -7.6%
• Equity multiple: 0.51×
• Total profit: $-25,325
• Equity at exit: $15,995

Cash invested: $51,800 (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 70471

• Home prices YoY: -29.2%
• Rents YoY: 3.3%
• Active inventory: 231
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,559 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$72 /mo · $866/yr
• Insurance: −$77
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-13

Break-even live

Break-even rent $1,575

Max offer price $182,748

Occupancy floor 96%

Sensitivity live

Price	-10% $92	-5% $40	+0% $-13	+5% $-65	+10% $-117
Rent	-10% $-136	-5% $-74	+0% $-13	+5% $49	+10% $110
Rate	-1.0pp $80	-0.5pp $34	base $-13	+0.5pp $-61	+1.0pp $-109

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-13
   statusdays on market $185,000 Pending 4 DOM
2. 2026-06-10
   days on market $185,000 Active 2 DOM
3. 2026-06-08
   remarks 420-char remark

   Show marketing remark (420 chars)

   Welcome to Abney Drive, a rare find tucked in a quiet desirable neighborhood in Mandeville! Nearly a full acre surrounds this lifted cottage that has never flooded. The 2-bedroom, 2-bath layout is waiting for your unique touch. No HOA means no restrictions, park your boat, bring your RV, and make this space truly your own. The possibilities are endless. Make this you're forever home, call today for a private showing.

4. 2026-06-08
   listed $185,000 Active 1 DOM

   Show marketing remark (420 chars)

   Welcome to Abney Drive, a rare find tucked in a quiet desirable neighborhood in Mandeville! Nearly a full acre surrounds this lifted cottage that has never flooded. The 2-bedroom, 2-bath layout is waiting for your unique touch. No HOA means no restrictions, park your boat, bring your RV, and make this space truly your own. The possibilities are endless. Make this you're forever home, call today for a private showing.

ⓘ 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: $866 · $72/mo
• Projected year-2 tax: $1,017 · $85/mo
• Expected delta: +$151/yr (+$13/mo · 17.5%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $18,712
• − Mortgage interest: −$10,363
• − Property taxes: −$866
• − Insurance: −$2,428
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$5,382
• Taxable loss: −$3,320
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $644/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 — Abita Springs

• Score: 77/100
• State rank: #11
• US rank: #3024

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B 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
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 24,199
• Household income: $96,501
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 475.0

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% Two or more races 8% Hispanic / Latino 8% Asian 2% Native American 1% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 15% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 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: ▼ -77.41%
• Current HPI: 188.0159
• Rent YoY: ▲ 3.32%
• 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

+400.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $185,000 AcadianaMLS
• 2026-06-08 Listed $185,000 GSREIN
• 2006-03-27 Sold (Public Records) $37,000 Public Records

Property tax history

-6.3%/yr

Latest (2025): $866 · -3.6% YoY. Source: county tax records.