255 S Lotus Dr · Mandeville, LA 70471

$469,000

5 bd · 3.5 ba · 2,619 sqft · SingleFamily public records · 47 Days on market

Built 1989 0.31 ac lot $179/sqft · 6% above area Est $516k · 9% under $5/mo HOA

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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 +13.4/30.0
• ARV discount +11.6/15.0
• Schools +4.3/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing Highlights: Fortified roof that is only 2 years old!!! Double-insulated window, CLECO recently inspected the home & sealed all air leaks, Two gas water heaters, and Two Trane HVAC units: 3-ton and 4-ton. Double-sided wood-burning fireplace with a gas starter in the living room and breakfast area, GE dishwasher and electric cooktop, Built-in Dacor electric convection oven and microwave, Living room wired for surround sound, Smoke & carbon monoxide detectors in every bedroom, Wired for a security system with cameras, 10' x 30' storage shed with electrical hookups, Fenced yard with two sets of double gates, Deck wired with a 220-volt connection, great for a spa or hot tub, Rear-yard drainage system; the property has never flooded, and No flood insurance needed. Seize the chance to transform this spacious Mandeville property into your dream home. Conveniently situated just minutes from the Causeway and nestled within a highly sought-after school district, this residence offers the perfect blend of location and potential for customization. With four bedrooms, three and half bathrooms, and two versatile bonus rooms, this home offers the space and flexibility today's families need. The backyard is made for entertaining and making memories. Enjoy sunny days in the sparkling pool, gatherings on the spacious deck, and celebrations in the impressive 20' x 40' cabana, complete with a half bath and fully equipped outdoor kitchen. With premium Al Fresco propane and charcoal grills, a stainless-steel sink, fryer, and ample storage, this space is great for everything from casual cookouts to holiday parties. Additional features include a recently installed fortified roof for added peace of mind and insurance savings, a large, floored attic with dual pull-down access points for convenient storage, and a whole-house generator that is negotiable with the sale. With too many features to include, this home is a "must see." The motivated sellers welcome reasonable offers.

Key facts

• 0.31 acre lot
• Garage
• Pool

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $60

Exterior

• Parking: Attached garage with two spaces and a garage door opener
• Security: Security system; Closed-circuit cameras; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: One-story home; Shingle roof; Brick and vinyl siding construction; Average condition; Slab foundation
• Construction: Built with brick and vinyl siding; Shingle roof; Slab foundation
• Exterior features: Fenced yard; Covered wood porch; Patio; Outdoor kitchen; In-ground pool; City lot on an oversized parcel

Interior

• Kitchen: Cooktop; Microwave; Oven; Garbage disposal
• Bedrooms: Total of 9 rooms (bedroom count not specified)
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating with multiple heating units; Central air conditioning
• Interior features: Tray ceilings; Vaulted ceilings; Carbon monoxide detector; Wired for sound; Gas-started, wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $469k.

Deal economics

• At list price, monthly cash flow is $12 ($141/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 $368k (21.5% below list).
• Recommended offer: $368k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.4% in Mandeville — 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 (#13 in LA, #3,224 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.
• Zoned schools: Pontchartrain Elementary School (math 82% / reading 82%, grade A+, #9 of 646 statewide, top 1%, 748 students, 22% FRL); Tchefuncte Middle School (math 65% / reading 71%, grade A-, #5 of 218 statewide, top 2%, 697 students, 24% FRL); Mandeville High School (math 59% / reading 63%, grade C+, #19 of 265 statewide, top 7%, 2,259 students, 22% FRL) — zoned schools average 23% FRL vs 40% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 70% at this address vs 49% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the St. Tammany Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.3%/yr); 231 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• At $3,680/mo this rent would consume 46% of the median local household income ($97k/yr) (locally 475% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 47 days — a 3% lower offer ($455k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $81k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $469k implies a 161% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $367,952 (21.5% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.78% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 10.6

CMA / ARV

• ARV (median comp): $516,001
• List price: $469,000
• Delta: -9.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 Silver Maple Dr	0.06mi	4/3.0 (-1)	2,534 (-3%)	2mo	$426,000	$168	84
225 Silver Maple Dr	0.11mi	4/3.0 (-1)	2,458 (-6%)	11mo	$435,000	$177	69
390 Azalea Dr	0.33mi	4/2.5 (-1)	2,525 (-4%)	3mo	$400,000	$158	67
751 Libby Ln	0.48mi	4/3.0 (-1)	2,480 (-5%)	8mo	$510,000	$206	56
320 Garden Ave	0.20mi	4/2.0 (-1)	2,260 (-14%)	2mo	$425,000	$188	55
530 Markie Dr	0.49mi	4/2.5 (-1)	2,431 (-7%)	2mo	$402,000	$165	54
325 Jasmine Dr	0.41mi	4/2.0 (-1)	2,404 (-8%)	5mo	$455,000	$189	52
524 Heavens Dr	0.45mi	4/2.5 (-1)	2,405 (-8%)	10mo	$468,000	$195	48
750 Claire Dr	0.52mi	4/2.5 (-1)	2,334 (-11%)	2mo	$490,000	$210	47
547 Casey Dr	0.59mi	4/2.0 (-1)	2,800 (+7%)	4mo	$433,000	$155	46
821 Willow Oak Ln	0.60mi	6/5.0 (+1)	2,518 (-4%)	11mo	$322,000	$128	45
100 Oleander Ct	0.54mi	4/3.0 (-1)	2,992 (+14%)	2mo	$1,075,000	$359	43

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-74,221
• Equity at exit: $69,929

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-59,399
• Equity at exit: $40,551

Cash invested: $131,320 (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: 10.6×

Monthly cashflow live

• Estimated rent: $3,680 high
• Mortgage (P&I): −$2,459
• Tax from tax record: −$235 /mo · $2,822/yr
• Insurance: −$195
• HOA: −$5
• Vacancy / Maint / Mgmt: −$773
• Net cashflow: $12

Break-even live

Break-even rent $3,665

Max offer price $469,000

Occupancy floor 95%

Sensitivity live

Price	-10% $277	-5% $144	+0% $12	+5% $-121	+10% $-254
Rent	-10% $-279	-5% $-134	+0% $12	+5% $157	+10% $302
Rate	-1.0pp $248	-0.5pp $131	base $12	+0.5pp $-110	+1.0pp $-233

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Falcon Dr Mandeville, LA	4.0	6.0	3401	$4,500	$1.32	5d	1	0.16mi
20 Falcon Dr Mandeville, LA	4.0	6.0	3401	$4,500	$1.32	5d	1	0.16mi
55 Bretton Way Mandeville, LA	4.0	3.5	3670	$4,500	$1.23	45d	1	0.32mi
110 Oak Aly Mandeville, LA	4.0	3.5	2100	$2,750	$1.31	45d	1	0.89mi
1206 Rue Degas Mandeville, LA	4.0	3.5	3044	$2,800	$0.92	45d	1	0.90mi
217 Rue Esplanade Mandeville, LA	4.0	3.5	3366	$3,400	$1.01	45d	1	0.93mi

HOA detail

• Monthly dues: $5 · $60/yr
• Likely covers: watergaselectricpoolsecurity

Listing history 21 events

1. 2026-06-21
   days on market $469,000 Active 47 DOM
2. 2026-06-18
   days on market $469,000 Active 44 DOM
3. 2026-06-17
   days on market $469,000 Active 43 DOM
4. 2026-06-16
   pricedays on market $469,000 Active 42 DOM

   Show marketing remark (2009 chars)

   Amazing Highlights: Fortified roof that is only 2 years old!!! Double-insulated window, CLECO recently inspected the home & sealed all air leaks, Two gas water heaters, and Two Trane HVAC units: 3-ton and 4-ton. Double-sided wood-burning fireplace with a gas starter in the living room and breakfast area, GE dishwasher and electric cooktop, Built-in Dacor electric convection oven and microwave, Living room wired for surround sound, Smoke & carbon monoxide detectors in every bedroom, Wired for a security system with cameras, 10' x 30' storage shed with electrical hookups, Fenced yard with two sets of double gates, Deck wired with a 220-volt connection, great for a spa or hot tub, Rear-yard drainage system; the property has never flooded, and No flood insurance needed. Seize the chance to transform this spacious Mandeville property into your dream home. Conveniently situated just minutes from the Causeway and nestled within a highly sought-after school district, this residence offers the perfect blend of location and potential for customization. With four bedrooms, three and half bathrooms, and two versatile bonus rooms, this home offers the space and flexibility today's families need. The backyard is made for entertaining and making memories. Enjoy sunny days in the sparkling pool, gatherings on the spacious deck, and celebrations in the impressive 20' x 40' cabana, complete with a half bath and fully equipped outdoor kitchen. With premium Al Fresco propane and charcoal grills, a stainless-steel sink, fryer, and ample storage, this space is great for everything from casual cookouts to holiday parties. Additional features include a recently installed fortified roof for added peace of mind and insurance savings, a large, floored attic with dual pull-down access points for convenient storage, and a whole-house generator that is negotiable with the sale. With too many features to include, this home is a "must see." The motivated sellers welcome reasonable offers.

5. 2026-06-15
   days on market $545,000 Active 41 DOM
6. 2026-06-13
   remarks 691-char remark
7. 2026-06-13
   pricedays on market $545,000 Active 39 DOM
8. 2026-06-10
   days on market $550,000 Active 36 DOM
9. 2026-06-09
   days on market $550,000 Active 35 DOM
10. 2026-06-08
    days on market $550,000 Active 34 DOM
11. 2026-06-07
    days on market $550,000 Active 33 DOM
12. 2026-06-03
    days on market $550,000 Active 29 DOM
13. 2026-06-02
    days on market $550,000 Active 28 DOM
14. 2026-06-01
    days on market $550,000 Active 27 DOM
15. 2026-05-31
    days on market $550,000 Active 26 DOM
16. 2026-05-05
    listed $550,000 Active 497-char remark

    Show marketing remark (2009 chars)

    Amazing Highlights: Fortified roof that is only 2 years old!!! Double-insulated window, CLECO recently inspected the home & sealed all air leaks, Two gas water heaters, and Two Trane HVAC units: 3-ton and 4-ton. Double-sided wood-burning fireplace with a gas starter in the living room and breakfast area, GE dishwasher and electric cooktop, Built-in Dacor electric convection oven and microwave, Living room wired for surround sound, Smoke & carbon monoxide detectors in every bedroom, Wired for a security system with cameras, 10' x 30' storage shed with electrical hookups, Fenced yard with two sets of double gates, Deck wired with a 220-volt connection, great for a spa or hot tub, Rear-yard drainage system; the property has never flooded, and No flood insurance needed. Seize the chance to transform this spacious Mandeville property into your dream home. Conveniently situated just minutes from the Causeway and nestled within a highly sought-after school district, this residence offers the perfect blend of location and potential for customization. With four bedrooms, three and half bathrooms, and two versatile bonus rooms, this home offers the space and flexibility today's families need. The backyard is made for entertaining and making memories. Enjoy sunny days in the sparkling pool, gatherings on the spacious deck, and celebrations in the impressive 20' x 40' cabana, complete with a half bath and fully equipped outdoor kitchen. With premium Al Fresco propane and charcoal grills, a stainless-steel sink, fryer, and ample storage, this space is great for everything from casual cookouts to holiday parties. Additional features include a recently installed fortified roof for added peace of mind and insurance savings, a large, floored attic with dual pull-down access points for convenient storage, and a whole-house generator that is negotiable with the sale. With too many features to include, this home is a "must see." The motivated sellers welcome reasonable offers.

17. 2026-05-05
    listed $550,000 Active 486-char remark

    Show marketing remark (2009 chars)

    Amazing Highlights: Fortified roof that is only 2 years old!!! Double-insulated window, CLECO recently inspected the home & sealed all air leaks, Two gas water heaters, and Two Trane HVAC units: 3-ton and 4-ton. Double-sided wood-burning fireplace with a gas starter in the living room and breakfast area, GE dishwasher and electric cooktop, Built-in Dacor electric convection oven and microwave, Living room wired for surround sound, Smoke & carbon monoxide detectors in every bedroom, Wired for a security system with cameras, 10' x 30' storage shed with electrical hookups, Fenced yard with two sets of double gates, Deck wired with a 220-volt connection, great for a spa or hot tub, Rear-yard drainage system; the property has never flooded, and No flood insurance needed. Seize the chance to transform this spacious Mandeville property into your dream home. Conveniently situated just minutes from the Causeway and nestled within a highly sought-after school district, this residence offers the perfect blend of location and potential for customization. With four bedrooms, three and half bathrooms, and two versatile bonus rooms, this home offers the space and flexibility today's families need. The backyard is made for entertaining and making memories. Enjoy sunny days in the sparkling pool, gatherings on the spacious deck, and celebrations in the impressive 20' x 40' cabana, complete with a half bath and fully equipped outdoor kitchen. With premium Al Fresco propane and charcoal grills, a stainless-steel sink, fryer, and ample storage, this space is great for everything from casual cookouts to holiday parties. Additional features include a recently installed fortified roof for added peace of mind and insurance savings, a large, floored attic with dual pull-down access points for convenient storage, and a whole-house generator that is negotiable with the sale. With too many features to include, this home is a "must see." The motivated sellers welcome reasonable offers.

18. 2002-04-05
    soldstatus $180,000
19. 2000-11-20
    soldstatus $180,000
20. 1999-06-23
    listed $184,900
21. 1999-06-23
    listed $184,900

ⓘ 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: $2,822 · $235/mo
• Projected year-2 tax: $2,822 · $235/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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $44,154
• − Mortgage interest: −$26,271
• − Property taxes: −$2,822
• − Insurance: −$2,345
• − Repairs & maintenance: −$3,532
• − Management: −$3,532
• − HOA: −$60
• − Depreciation: −$13,644
• Taxable loss: −$8,053
• Est. tax savings @ 24.0%: +$1,933
• After-tax cash flow: $2,073/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mandeville, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 50,537
• 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

+153.7% since first listed

10 events — show timeline

• 2026-06-16 Price Changed $469,000 AcadianaMLS
• 2026-06-16 Price Changed $469,000 GSREIN
• 2026-06-11 Price Changed $545,000 AcadianaMLS
• 2026-06-11 Price Changed $545,000 GSREIN
• 2026-05-05 Listed $550,000 GSREIN
• 2026-05-05 Listed $550,000 AcadianaMLS
• 2002-04-05 Sold (Public Records) $180,000 Public Records
• 2000-11-20 Sold (MLS) $180,000 GSREIN
• 1999-06-23 Listed $184,900 GSREIN
• 1999-06-23 Listed $184,900 AcadianaMLS

Property tax history

-2.7%/yr

Latest (2025): $2,822 · -3.3% YoY. Source: county tax records.