2120 Teal St · Slidell, LA 70460

$190,000

3 bd · 2.0 ba · 1,203 sqft · SingleFamily public records · 10 Days on market

Built 2017 7,244 sqft lot Est $165k · 15% over

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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 +19.6/30.0
• DSCR +6.2/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Rent growth +4.0/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bath home offering approximately 1,200 square feet of comfortable living space. Built in 2017, this well-maintained property features granite countertops, a spacious primary suite with a garden tub and walk-in closet, a cozy fireplace, and a large backyard perfect for entertaining. Situated in a desirable X flood zone and conveniently located near shopping, schools, and major commuter routes. An excellent opportunity for first-time homebuyers, investors, or anyone seeking affordable homeownership in Slidell.

Key facts

• Walk-in closet
• Large backyard
• Cozy fireplace

Tags

• GRANITE COUNTERTOPS
• SPACIOUS PRIMARY SUITE
• GARDEN TUB
• WALK-IN CLOSET
• COZY FIREPLACE
• LARGE BACKYARD

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank sewer
• Home design: Single-story home; Shingle roof; Entry on main level
• Construction: Slab foundation
• Exterior features: Rectangular lot; Located outside city limits

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and other living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Wood-burning fireplace; Average condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/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 $175k (7.8% below list).
• Recommended offer: $175k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 5.9% in Slidell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: Rents rising fast (+5.9%/yr); 246 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 27y ago 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 $135k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $175,145 (7.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $164,811
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2116 Jay St	0.19mi	3/2.0	1,170 (-3%)	3mo	$202,500	$173	84
2218 Teal St	0.12mi	3/2.0	1,262 (+5%)	3mo	$142,000	$113	84
2110 Mallard St	0.08mi	2/2.0 (-1)	1,266 (+5%)	1mo	$125,000	$99	82
2022 Mallard St	0.16mi	3/1.0	1,148 (-5%)	2mo	$165,000	$144	80
2120 Oriole St	0.12mi	2/1.0 (-1)	1,164 (-3%)	2mo	$153,000	$131	78
2406 Bluebird St	0.48mi	3/2.0	1,218 (+1%)	0mo	$175,000	$144	75
2523 Bluebird St	0.62mi	3/2.0	1,222 (+2%)	2mo	$155,000	$127	67
2502 Mallard St	0.42mi	3/2.0	1,291 (+7%)	3mo	$172,000	$133	66
2402 Mallard St	0.30mi	3/2.0	1,361 (+13%)	3mo	$125,000	$92	62
2514 Robin St	0.53mi	3/2.0	1,334 (+11%)	2mo	$190,000	$142	55
2517 Pelican St	0.56mi	3/2.0	1,367 (+14%)	1mo	$240,000	$176	50
173 Lark St	0.56mi	3/2.0	1,363 (+13%)	3mo	$186,500	$137	49

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 · 5.91% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.78×
• Total profit: $-11,549
• Equity at exit: $28,330

10-year hold

• IRR: 6.9%
• Equity multiple: 1.58×
• Total profit: $30,730
• Equity at exit: $16,428

Cash invested: $53,200 (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 70460

• Rents YoY: 5.9%
• Active inventory: 246
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,751 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$88 /mo · $1,054/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $220

Break-even live

Break-even rent $1,473

Max offer price $190,000

Occupancy floor 82%

Sensitivity live

Price	-10% $328	-5% $274	+0% $220	+5% $166	+10% $113
Rent	-10% $82	-5% $151	+0% $220	+5% $289	+10% $359
Rate	-1.0pp $316	-0.5pp $269	base $220	+0.5pp $171	+1.0pp $121

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2322 Mallard St Slidell, LA	3.0	2.0	1400	$1,600	$1.14	44d	1	0.27mi
2402 Pelican St Slidell, LA	3.0	2.0	1400	$1,700	$1.21	24d	1	0.44mi
2519 Crane St Slidell, LA	3.0	2.0	1160	$1,600	$1.38	24d	1	0.66mi

Listing history 7 events

1. 2026-06-21
   days on market $190,000 Active 10 DOM
2. 2026-06-18
   days on market $190,000 Active 7 DOM
3. 2026-06-17
   days on market $190,000 Active 6 DOM
4. 2026-06-16
   days on market $190,000 Active 5 DOM
5. 2026-06-15
   days on market $190,000 Active 4 DOM
6. 2026-06-13
   remarks 535-char remark
7. 2026-06-13
   listed $190,000 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: $1,054 · $88/mo
• Projected year-2 tax: $1,054 · $88/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 6/10 Major FEMA zone X · 57% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,017
• − Mortgage interest: −$10,643
• − Property taxes: −$1,054
• − Insurance: −$950
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$5,527
• Taxable loss: −$520
• Est. tax savings @ 24.0%: +$125
• After-tax cash flow: $2,768/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

• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 21,669
• Household income: $62,565
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 318.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 29% Two or more races 11% Hispanic / Latino 10% Pacific Islander 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 13% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6%

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: ▼ -93.87%
• Current HPI: 130.56
• Rent YoY: ▲ 5.91%
• 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

+129.7% since first listed

21 events — show timeline

• 2026-06-11 Listed $190,000 AcadianaMLS
• 2026-06-11 Listed $190,000 GSREIN
• 2018-05-01 Sold (Public Records) $135,000 Public Records
• 2018-04-27 Sold (MLS) $134,900 GSREIN
• 2018-04-01 Contingent — GSREIN
• 2018-03-17 Relisted — GSREIN
• 2018-02-07 Contingent — GSREIN
• 2018-01-20 Listed $134,999 AcadianaMLS
• 2018-01-20 Listed $134,999 GSREIN
• 2009-10-07 Listed $127,000 GSREIN
• 2009-10-07 Listed $127,000 AcadianaMLS
• 2005-12-19 Sold (Public Records) $115,000 Public Records
• 2005-12-02 Sold (MLS) $115,000 GSREIN
• 2005-09-12 Listed $119,000 AcadianaMLS
• 2005-09-12 Listed $119,000 GSREIN
• 2001-06-15 Sold (MLS) $89,000 GSREIN
• 2001-03-13 Listed $87,900 GSREIN
• 2001-03-13 Listed $87,900 AcadianaMLS
• 2000-01-21 Sold (MLS) $85,000 GSREIN
• 1999-11-07 Listed $82,700 AcadianaMLS
• 1999-11-07 Listed $82,700 GSREIN

Property tax history

-4.2%/yr

Latest (2025): $1,054 · -3.8% YoY. Source: county tax records.