350 Emerald Forest Blvd #29102 · Covington, LA 70433

$145,000

2 bd · 2.0 ba · 1,201 sqft · Condo public records · 179 Days on market

Built 2007 Good condition $121/sqft · 31% below area Est $210k · 31% under $485/mo HOA · 31% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• 1% rule +5.6/10.0
• Schools +5.5/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This immaculately kept unit is a wonderful place where you can enjoy all of the benefits of a well-maintained community that comes with plenty of options including a pool, gym, club house, library and numerous green spaces. Inside you'll find a stylish, well-appointed kitchen with all the conveniences, generous closet spaces, attractive primary bedroom/primary bath and 2nd bedroom with its own ensuite and walk-in closet. Also features a convenient, in unit laundry, adjacent exterior storage room, an assigned, covered parking space and a lovely corner balcony for relaxing in the evenings! You simply cannot beat the location with quick access to a multitude of every kind of convenience you might desire, as well as easy access to major highways and roadways for commuters. An absolute must see property!

Key facts

• Kitchen
• Green spaces
• Pool

Tags

• POOL
• GYM
• CLUB HOUSE
• LIBRARY
• GREEN SPACES
• KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (24.6% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $109k (24.6% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.8% in Covington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% 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) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 640 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 179 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $109,373 (24.6% 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. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 4.62%
• Cash-on-cash: -5.96%
• DSCR: 0.73
• GRM: 7.8

CMA / ARV

• ARV (median comp): $210,333
• List price: $145,000
• Delta: -31.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
350 Emerald Forest Blvd #21101	0.04mi	2/2.0	1,201 (0%)	2mo	$105,000	$87	97
350 Emerald Forest Blvd #4201	0.00mi	2/2.0	1,051 (-12%)	2mo	$124,900	$119	77
70462 D St	1.10mi	3/2.0 (+1)	1,200 (-0%)	0mo	$199,000	$166	60
70433 J St	0.97mi	3/2.0 (+1)	1,089 (-9%)	2mo	$185,000	$170	43
70086 5th St	0.88mi	3/2.0 (+1)	1,321 (+10%)	1mo	$252,000	$191	43
70381 L St	0.87mi	3/2.0 (+1)	1,322 (+10%)	2mo	$218,000	$165	41
19669 Calden Ct	0.66mi	3/2.0 (+1)	1,463 (+22%)	2mo	$274,505	$188	38
70409 3rd St	1.15mi	3/2.0 (+1)	1,390 (+16%)	0mo	$249,900	$180	35
70077 6th St	0.89mi	3/2.0 (+1)	1,411 (+18%)	0mo	$229,000	$162	35
70040 4th St	0.80mi	3/2.0 (+1)	1,451 (+21%)	1mo	$241,000	$166	34
70015 7th St	0.91mi	3/2.0 (+1)	1,439 (+20%)	2mo	$244,000	$170	34
113 Emerald Oaks Dr	0.77mi	3/2.5 (+1)	1,484 (+24%)	1mo	$249,000	$168	32

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 · 4.31% rent growth · sell at horizon

5-year hold

• IRR: -24.1%
• Equity multiple: 0.16×
• Total profit: $-34,001
• Equity at exit: $21,620

10-year hold

• IRR: -14.3%
• Equity multiple: 0.11×
• Total profit: $-36,324
• Equity at exit: $12,537

Cash invested: $40,600 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $142,990 ($119/sqft)
• Median days on market: 680 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +47.1% above current asking $/sqft

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

ZIP-level market 70433

• Rents YoY: 4.3%
• Active inventory: 640
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,543 high
• Mortgage (P&I): −$760
• Tax from tax record: −$115 /mo · $1,378/yr
• Insurance: −$60
• HOA: −$485
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-202

Break-even live

Break-even rent $1,798

Max offer price $109,373

Occupancy floor —

Sensitivity live

Price	-10% $-120	-5% $-161	+0% $-202	+5% $-243	+10% $-284
Rent	-10% $-324	-5% $-263	+0% $-202	+5% $-141	+10% $-80
Rate	-1.0pp $-129	-0.5pp $-165	base $-202	+0.5pp $-239	+1.0pp $-277

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: $36,250
• Closing costs: $4,350
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Emerald Forest Blvd Unit 7203 Covington, LA	2.0	2.0	950	$1,504	$1.58	17d	1	0.11mi
900 Emerald Forest Blvd Apt 6101 Covington, LA	2.0	2.0	950	$1,504	$1.58	27d	1	0.12mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,238	$1.29	11d	8	0.15mi
900 Emerald Forest Blvd Apt 4101 Covington, LA	3.0	2.0	1165	$1,541	$1.32	27d	1	0.17mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,450	$1.03	41d	1	0.46mi
140 Holiday Blvd Covington, LA	2.0	1.0–2.0	652	$1,525	$2.34	11d	12	0.65mi
19425 Slemmer Rd Unit 2 Covington, LA	3.0	2.0	1100	$1,100	$1.00	70d	1	0.67mi
70040 2nd St Covington, LA	3.0	2.0	1416	$1,900	$1.34	34d	1	0.69mi
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	52d	1	0.71mi
70022 3rd St Covington, LA	3.0	2.0	1450	$1,750	$1.21	34d	1	0.73mi
103 Covington Meadow Cir Unit F Covington, LA	3.0	2.5	1476	$1,700	$1.15	93d	1	0.74mi
103 Covington Meadow Cir Unit E Covington, LA	3.0	2.5	1476	$1,700	$1.15	73d	1	0.74mi
100 Covington Meadow Cir Unit D Covington, LA	3.0	2.5	1356	$1,600	$1.18	66d	1	0.76mi
106 Covington Meadow Cir Unit C Covington, LA	3.0	2.5	1476	$1,600	$1.08	39d	1	0.78mi
104 Covington Meadow Cir Unit I Covington, LA	3.0	2.5	1476	$1,600	$1.08	73d	1	0.78mi
164 Golden Meadow Dr Covington, LA	1.0	1.0	775	$1,335	$1.72	21d	1	0.85mi
164 Golden Meadow Dr Covington, LA	1.0	2.0	1100	$1,295	$1.18	34d	1	0.85mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,856	$2.16	11d	22	0.90mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	73d	1	0.91mi
70361 D St Covington, LA	3.0	2.0	1409	$1,750	$1.24	73d	1	0.93mi
70403 L St Covington, LA	3.0	2.0	1250	$1,500	$1.20	17d	1	0.94mi
70330 A St Covington, LA	3.0	2.0	1163	$1,600	$1.38	69d	1	0.96mi
70244 6th St Covington, LA	3.0	2.0	1210	$1,600	$1.32	27d	1	1.06mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	66d	1	1.09mi
70412 1st St Covington, LA	3.0	2.0	1182	$1,700	$1.44	66d	1	1.12mi
70293 7th St Covington, LA	3.0	2.0	1450	$1,695	$1.17	93d	1	1.14mi
70342 5th St Covington, LA	3.0	2.0	1200	$1,700	$1.42	21d	1	1.14mi
70252 8th St Covington, LA	3.0	2.0	1230	$1,650	$1.34	73d	1	1.15mi
70300 7th St Covington, LA	3.0	2.0	1448	$1,750	$1.21	73d	1	1.17mi
101 Holiday Square Blvd Covington, LA	1.0–2.0	1.0–2.0	618	$1,395	$2.26	16d	3	1.20mi
70466 1st St Covington, LA	3.0	2.0	1443	$2,100	$1.46	66d	1	1.21mi
711 Lionel Ct Abita Springs, LA	3.0	2.0	1497	$2,000	$1.34	73d	1	1.33mi
1612 Versailles Business Pkwy Covington, LA	1.0–3.0	1.0–2.0	1092	$1,784	$1.63	11d	31	1.36mi
70439 8th St Covington, LA	3.0	2.0	1267	$1,500	$1.18	73d	1	1.37mi
70371 10th St Covington, LA	3.0	2.0	1212	$1,695	$1.40	93d	1	1.39mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	93d	1	1.40mi
19600 N 12th St Covington, LA	2.0	2.0	1270	$1,457	$1.15	11d	1	1.44mi

HOA detail $485/mo · $5,820/yr condo

• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $145,000 Active 179 DOM
2. 2026-08-07
   days on market $145,000 Active 178 DOM
3. 2026-08-06
   days on market $145,000 Active 177 DOM
4. 2026-08-05
   days on market $145,000 Active 176 DOM
5. 2026-08-04
   days on market $145,000 Active 175 DOM
6. 2026-08-03
   days on market $145,000 Active 174 DOM
7. 2026-07-31
   days on market $145,000 Active 171 DOM
8. 2026-07-30
   days on market $145,000 Active 169 DOM
9. 2026-07-28
   days on market $145,000 Active 168 DOM
10. 2026-07-26
    days on market $145,000 Active 166 DOM
11. 2026-07-24
    days on market $145,000 Active 164 DOM
12. 2026-07-23
    days on market $145,000 Active 163 DOM
13. 2026-07-22
    days on market $145,000 Active 162 DOM
14. 2026-07-21
    days on market $145,000 Active 161 DOM
15. 2026-07-20
    days on market $145,000 Active 160 DOM
16. 2026-07-18
    days on market $145,000 Active 158 DOM
17. 2026-07-18
    days on market $145,000 Active 157 DOM
18. 2026-07-16
    days on market $145,000 Active 156 DOM
19. 2026-07-15
    days on market $145,000 Active 155 DOM
20. 2026-07-14
    days on market $145,000 Active 154 DOM
21. 2026-07-13
    days on market $145,000 Active 153 DOM
22. 2026-07-13
    days on market $145,000 Active 152 DOM
23. 2026-07-11
    days on market $145,000 Active 151 DOM
24. 2026-07-10
    days on market $145,000 Active 150 DOM
25. 2026-07-09
    days on market $145,000 Active 149 DOM
26. 2026-07-07
    days on market $145,000 Active 147 DOM
27. 2026-07-06
    days on market $145,000 Active 146 DOM
28. 2026-07-05
    days on market $145,000 Active 145 DOM
29. 2026-07-03
    days on market $145,000 Active 143 DOM
30. 2026-07-02
    days on market $145,000 Active 142 DOM
31. 2026-07-01
    days on market $145,000 Active 141 DOM
32. 2026-06-30
    days on market $145,000 Active 140 DOM
33. 2026-06-29
    days on market $145,000 Active 139 DOM
34. 2026-06-28
    days on market $145,000 Active 138 DOM
35. 2026-06-27
    days on market $145,000 Active 137 DOM
36. 2026-06-27
    days on market $145,000 Active 136 DOM
37. 2026-06-25
    days on market $145,000 Active 134 DOM
38. 2026-06-22
    days on market $145,000 Active 132 DOM
39. 2026-06-21
    days on market $145,000 Active 131 DOM
40. 2026-06-18
    days on market $145,000 Active 128 DOM
41. 2026-06-17
    days on market $145,000 Active 127 DOM
42. 2026-06-16
    days on market $145,000 Active 126 DOM
43. 2026-06-15
    days on market $145,000 Active 125 DOM
44. 2026-06-13
    days on market $145,000 Active 123 DOM
45. 2026-06-10
    days on market $145,000 Active 120 DOM
46. 2026-06-09
    days on market $145,000 Active 119 DOM
47. 2026-06-08
    days on market $145,000 Active 118 DOM
48. 2026-06-07
    days on market $145,000 Active 117 DOM
49. 2026-06-03
    days on market $145,000 Active 113 DOM
50. 2026-06-02
    days on market $145,000 Active 112 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: $1,378 · $115/mo
• Projected year-2 tax: $1,378 · $115/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $18,516
• − Mortgage interest: −$8,122
• − Property taxes: −$1,378
• − Insurance: −$725
• − Repairs & maintenance: −$1,481
• − Management: −$1,481
• − HOA: −$5,820
• − Depreciation: −$4,218
• Taxable loss: −$4,710
• Est. tax savings @ 24.0%: +$1,130
• After-tax cash flow: $-1,290/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $6,005–$18,015 screening

This well-maintained condo is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Clean gutters — Keeps property in good condition ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary E. E. Lyon Elementary School C+ LA #79/646 Nat'l #8,534/41,679 Middle Fontainebleau Junior High School C LA #26/218 Nat'l #3,460/14,009 High Fontainebleau High School C LA #23/265 Nat'l #3,934/17,239

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): 41,876
• Household income: $81,241
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 9% 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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 7% Two or more races 7% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 17% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% Vietnamese 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: ▼ -112.14%
• Current HPI: 181.8348
• Rent YoY: ▲ 4.31%
• 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

+12508.7% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $145,000 AcadianaMLS
• 2026-04-28 Price Changed $145,000 GSREIN
• 2026-02-10 Listed $149,000 GSREIN
• 2026-02-10 Listed $149,000 AcadianaMLS
• 2023-06-12 Listed $180,000 AcadianaMLS
• 2021-02-24 Sold (Public Records) $138,000 Public Records
• 2021-01-12 Listed $139,900 AcadianaMLS
• 2017-11-14 Sold (Public Records) $128,800 Public Records
• 2017-05-02 Listed $128,800 AcadianaMLS
• 2016-06-30 Listed $1,150 AcadianaMLS

Property tax history

-6.0%/yr

Latest (2025): $1,378 · -16.4% YoY. Source: county tax records.