Roses V H Plan · Covington, LA 70435

$324,990

3 bd · 2.0 ba · 1,925 sqft · SingleFamily · 298 Days on market

Excellent condition

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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 +15.5/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

- Open Floor Plan - Three Bedrooms, Two Bathrooms - Two Car Garage - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Computer Desk / Niche - Double Master Vanity - Separate Master Shower - Double Master Closets

Key facts

• Open floor plan
• Double master vanity
• 2 garage spots

Tags

• OPEN FLOOR PLAN
• RECESSED CAN LIGHTING
• DOUBLE MASTER VANITY
• SEPARATE MASTER SHOWER
• DOUBLE MASTER CLOSETS

🏗️ New construction. The $324,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $340,000.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $137 ($2k/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 $315k (3.1% below list).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.2% in Covington — 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 75/100 on livability (#17 in LA, #3,876 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: Covington Elementary School (math 52% / reading 52%, grade C-, #108 of 646 statewide, top 18%, 628 students, 59% FRL); Pine View Middle School (math 20% / reading 37%, grade F, #119 of 218 statewide, top 57%, 635 students, 62% FRL); Covington High School (math 32% / reading 44%, grade F, #90 of 265 statewide, top 34%, 1,660 students, 46% FRL) — zoned schools average 56% FRL vs 40% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 605 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• At $3,148/mo this rent would consume 47% of the median local household income ($81k/yr) — 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 $2k of loan paydown is wiped out by about $10k 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 298 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Recommended offer $285,991 (12.0% below list)

Questions for the listing agent

1. It's been on market 298 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. 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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $340,000
• List price: $324,990
• Delta: -4.41%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13208 Riverlake Dr	0.25mi	4/2.0 (+1)	1,984 (+3%)	8mo	$320,000	$161	71
13394 Riverlake Dr	0.45mi	4/3.0 (+1)	1,843 (-4%)	8mo	$309,000	$168	57
13462 Riverlake Dr	0.51mi	3/2.5	1,830 (-5%)	15mo	$294,000	$161	53
76233 Green Valley Road St	0.59mi	3/2.0	1,670 (-13%)	9mo	$215,000	$129	42
13603 Riverlake Dr	0.69mi	4/3.5 (+1)	2,206 (+15%)	6mo	$425,000	$193	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-46,305
• Equity at exit: $50,695

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-28,872
• Equity at exit: $29,397

Cash invested: $95,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 20 active · 3 under contract
• Months of supply: 120.0 mo (1%/mo absorbed)
• Median asking: $338,990 ($163/sqft)
• Median days on market: 222 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +8.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70435

• Home prices YoY: -27.3%
• Active inventory: 605
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,148 medium
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $137

Break-even live

Break-even rent $2,974

Max offer price $340,000

Occupancy floor 91%

Sensitivity live

Price	-10% $372	-5% $255	+0% $137	+5% $20	+10% $-98
Rent	-10% $-111	-5% $13	+0% $137	+5% $262	+10% $386
Rate	-1.0pp $308	-0.5pp $224	base $137	+0.5pp $49	+1.0pp $-40

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: $85,000
• Closing costs: $10,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,650	$2.15	152d	1	1.47mi
12099 Jones Rd Covington, LA	3.0	2.0	1700	$3,950	$2.32	144d	1	1.47mi

Listing history 50 events

1. 2026-11-08
   days on market $324,990 Active 298 DOM
2. 2026-11-07
   days on market $324,990 Active 297 DOM
3. 2026-11-06
   days on market $324,990 Active 296 DOM
4. 2026-11-05
   days on market $324,990 Active 295 DOM
5. 2026-11-04
   days on market $324,990 Active 294 DOM
6. 2026-11-02
   days on market $324,990 Active 292 DOM
7. 2026-11-01
   days on market $324,990 Active 291 DOM
8. 2026-10-31
   days on market $324,990 Active 290 DOM
9. 2026-10-30
   days on market $324,990 Active 289 DOM
10. 2026-10-29
    days on market $324,990 Active 288 DOM
11. 2026-10-28
    days on market $324,990 Active 287 DOM
12. 2026-10-27
    days on market $324,990 Active 286 DOM
13. 2026-10-26
    days on market $324,990 Active 285 DOM
14. 2026-10-25
    days on market $324,990 Active 284 DOM
15. 2026-10-24
    days on market $324,990 Active 283 DOM
16. 2026-10-23
    days on market $324,990 Active 282 DOM
17. 2026-10-22
    days on market $324,990 Active 281 DOM
18. 2026-10-21
    days on market $324,990 Active 280 DOM
19. 2026-10-20
    days on market $324,990 Active 279 DOM
20. 2026-10-19
    days on market $324,990 Active 278 DOM
21. 2026-10-18
    days on market $324,990 Active 277 DOM
22. 2026-10-17
    days on market $324,990 Active 276 DOM
23. 2026-10-16
    days on market $324,990 Active 275 DOM
24. 2026-10-15
    days on market $324,990 Active 274 DOM
25. 2026-10-14
    days on market $324,990 Active 273 DOM
26. 2026-10-13
    days on market $324,990 Active 272 DOM
27. 2026-10-12
    days on market $324,990 Active 271 DOM
28. 2026-10-11
    days on market $324,990 Active 270 DOM
29. 2026-10-10
    days on market $324,990 Active 269 DOM
30. 2026-10-09
    days on market $324,990 Active 268 DOM
31. 2026-10-08
    days on market $324,990 Active 267 DOM
32. 2026-10-07
    days on market $324,990 Active 266 DOM
33. 2026-10-07
    days on market $324,990 Active 265 DOM
34. 2026-10-05
    days on market $324,990 Active 264 DOM
35. 2026-10-04
    days on market $324,990 Active 263 DOM
36. 2026-10-04
    days on market $324,990 Active 262 DOM
37. 2026-10-02
    days on market $324,990 Active 261 DOM
38. 2026-10-01
    days on market $324,990 Active 260 DOM
39. 2026-09-30
    days on market $324,990 Active 259 DOM
40. 2026-09-29
    days on market $324,990 Active 258 DOM
41. 2026-09-28
    days on market $324,990 Active 257 DOM
42. 2026-09-27
    days on market $324,990 Active 256 DOM
43. 2026-09-25
    days on market $324,990 Active 254 DOM
44. 2026-09-24
    days on market $324,990 Active 253 DOM
45. 2026-09-23
    days on market $324,990 Active 252 DOM
46. 2026-09-22
    days on market $324,990 Active 251 DOM
47. 2026-09-21
    days on market $324,990 Active 250 DOM
48. 2026-09-20
    days on market $324,990 Active 249 DOM
49. 2026-09-19
    days on market $324,990 Active 248 DOM
50. 2026-09-18
    days on market $324,990 Active 247 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,776
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$3,022
• − Management: −$3,022
• − Depreciation: −$9,891
• Taxable loss: −$4,004
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $2,608/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.

Condition & rehab AI · 2 photos

Excellent 100/100 None rehab

This home is in excellent condition with no visible repairs needed. It offers a good return on investment with updates that can further enhance its resale and rental value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Replace front door — A new front door can improve curb appeal and security ↑
• Both Install smart home devices — Smart home devices can increase home's value and appeal to tech-savvy buyers/renters ↑

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Covington Elementary School C- LA #108/646 Nat'l #11,263/41,679 Middle William Pitcher Junior High School F LA #112/218 Nat'l #8,750/14,009 High Covington High School F LA #90/265 Nat'l #8,877/17,239

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

B Composite livability gradescore 75/100

Livability — Covington

• Score: 75/100
• State rank: #17
• US rank: #3876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Tammany Parish · 286,725 people
• City population: 64,351
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,475
• Household income: $80,926
• Rent vs Own: 12.2% rent · 87.8% own
• Severe rent burden: 3% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 4% Hispanic / Latino 3% Pacific Islander 2%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1%

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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: ▼ -76.03%
• Current HPI: 202.0458
• Rent YoY: —
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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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

1 event — show timeline

• 2026-01-14 Listed $324,990 Zillow