243 Cardinal Dr · Slidell, LA 70458

$183,500

3 bd · 1.0 ba · 1,554 sqft · SingleFamily public records · 149 Days on market

Built 1964 7,840 sqft lot $118/sqft · at area comps Est $184k · at est.

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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 +21.0/30.0
• ARV discount +7.6/15.0
• DSCR +6.7/10.0
• 1% rule +4.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1-bath home located at 243 Cardinal Dr, Slidell, LA 70458 in an established neighborhood with convenient access to shopping, dining, schools, and I-10. The home offers a functional layout with a spacious living area, well-sized bedrooms, and natural light throughout. The kitchen provides ample cabinet space and flows easily into the dining area. Situated on a comfortable lot with outdoor space suitable for relaxation or future improvements. Schedule your showing today.

Key facts

• 7,840 sq ft lot
• Parking
• Built 1964

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $258 ($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 $173k (5.6% below list).
• Recommended offer: $161k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.9% in Slidell — 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 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 (+1.5%/yr); 489 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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

• It's been on market 149 days — a 12% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y 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 $125k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $161,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.94% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.04%
• DSCR: 1.27
• GRM: 8.8

CMA / ARV

• ARV (median comp): $183,736
• List price: $183,500
• Delta: -0.13%
• 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
331 Thames Dr	0.41mi	3/2.0	1,594 (+3%)	2mo	$202,000	$127	71
409 Rustling Pine Dr	0.50mi	3/2.0	1,580 (+2%)	2mo	$219,000	$139	69
416 Cardinal Dr	0.52mi	3/2.0	1,550 (-0%)	4mo	$189,000	$122	68
249 Hummingbird Ln	0.12mi	3/2.0	1,382 (-11%)	6mo	$213,500	$154	67
206 Brian Dr	0.65mi	3/2.0	1,561 (+0%)	2mo	$170,000	$109	63
220 Brian Dr	0.60mi	3/2.0	1,550 (-0%)	6mo	$189,000	$122	63
289 Audubon Dr	0.14mi	3/1.5	1,323 (-15%)	6mo	$163,500	$124	61
128 Dijon Dr	0.42mi	4/2.0 (+1)	1,675 (+8%)	1mo	$205,000	$122	58
436 Pine Shadows Dr	0.68mi	3/2.0	1,600 (+3%)	4mo	$248,000	$155	56
206 Canberra Ct	0.75mi	3/2.0	1,500 (-4%)	1mo	$130,000	$87	54
210 Anthony Dr	0.66mi	4/2.0 (+1)	1,448 (-7%)	2mo	$204,000	$141	47
412 Briargrove Dr	0.50mi	4/2.0 (+1)	1,739 (+12%)	4mo	$245,000	$141	44

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 · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-15,973
• Equity at exit: $27,360

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-3,456
• Equity at exit: $15,866

Cash invested: $51,380 (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 70458

• Rents YoY: 1.5%
• Active inventory: 489
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$962
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $258

Break-even live

Break-even rent $1,405

Max offer price $183,500

Occupancy floor 80%

Sensitivity live

Price	-10% $362	-5% $310	+0% $258	+5% $207	+10% $155
Rent	-10% $122	-5% $190	+0% $258	+5% $327	+10% $395
Rate	-1.0pp $351	-0.5pp $305	base $258	+0.5pp $211	+1.0pp $163

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: $45,875
• Closing costs: $5,505
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Martin Ln Slidell, LA	3.0	1.5	1353	$1,800	$1.33	24d	1	0.14mi
816 Rue Rochelle Slidell, LA	2.0	1.5	1500	$1,200	$0.80	44d	1	0.25mi
1500 Richmond Dr Slidell, LA	2.0	2.0	1137	$1,250	$1.10	3d	1	0.34mi
932 Asheville Dr Slidell, LA	2.0	1.5	1220	$1,225	$1.00	4d	1	0.42mi
347 Oriole Dr Slidell, LA	4.0	1.5	1560	$1,500	$0.96	44d	1	0.44mi
347 Oriole Dr Slidell, LA	4.0	1.5	1560	$1,500	$0.96	24d	1	0.44mi
129 Fountain Dr Slidell, LA	4.0	2.0	1879	$1,850	$0.98	15d	1	0.45mi
1030 Rue Corton Slidell, LA	4.0	2.0	1931	$2,150	$1.11	44d	1	0.52mi
120 Christian Ln Slidell, LA	3.0	2.0	1375	$1,875	$1.36	4d	1	0.61mi
120 Christian Ln Slidell, LA	3.0	2.0	1375	$1,875	$1.36	3d	1	0.61mi
106 Kempsey Ct Slidell, LA	3.0	2.0	1650	$1,600	$0.97	21d	1	0.64mi
433 Grafton Dr Slidell, LA	3.0	2.0	1625	$1,900	$1.17	44d	1	0.65mi
1466 Florida Ave Slidell, LA	3.0	2.0	1456	$2,200	$1.51	44d	1	0.77mi
542 Driftwood Cir Slidell, LA	4.0	2.0	1960	$2,100	$1.07	4d	1	0.90mi
1540 Wildwood Ln Slidell, LA	3.0	2.0	1525	$2,200	$1.44	24d	1	0.97mi
1540 Queens Dr Slidell, LA	4.0	2.0	1900	$2,300	$1.21	17d	1	1.05mi
513 Michigan Ave Slidell, LA	3.0	2.0	1250	$1,575	$1.26	24d	1	1.23mi
1731 Mary Dr Slidell, LA	3.0	2.0	1200	$1,650	$1.38	4d	1	1.23mi
1733 Mary Dr Slidell, LA	3.0	2.0	1349	$1,650	$1.22	44d	1	1.24mi
39344 Rosalind Dr Slidell, LA	3.0	2.0	1500	$2,400	$1.60	44d	1	1.27mi
117 S Queens Dr Slidell, LA	4.0	2.0	1476	$1,800	$1.22	4d	1	1.28mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	44d	1	1.31mi
3517 Meadow Lake Dr W Slidell, LA	3.0	2.0	1931	$2,200	$1.14	44d	1	1.38mi
100 Firwood Dr Slidell, LA	4.0	2.0	1649	$1,900	$1.15	44d	1	1.40mi
2001 Tenth St Unit B Slidell, LA	3.0	2.0	1137	$1,550	$1.36	17d	1	1.43mi

Listing history 33 events

1. 2026-06-18
   days on market $183,500 Active 149 DOM
2. 2026-06-17
   days on market $183,500 Active 148 DOM
3. 2026-06-16
   days on market $183,500 Active 147 DOM
4. 2026-06-15
   days on market $183,500 Active 146 DOM
5. 2026-06-13
   days on market $183,500 Active 144 DOM
6. 2026-06-10
   days on market $183,500 Active 141 DOM
7. 2026-06-09
   days on market $183,500 Active 140 DOM
8. 2026-06-08
   days on market $183,500 Active 139 DOM
9. 2026-06-07
   days on market $183,500 Active 138 DOM
10. 2026-06-03
    days on market $183,500 Active 134 DOM
11. 2026-06-02
    days on market $183,500 Active 133 DOM
12. 2026-06-01
    days on market $183,500 Active 132 DOM
13. 2026-05-31
    days on market $183,500 Active 131 DOM
14. 2026-03-12
    price $183,500 493-char remark

    Show marketing remark (493 chars)

    Charming 3-bedroom, 1-bath home located at 243 Cardinal Dr, Slidell, LA 70458 in an established neighborhood with convenient access to shopping, dining, schools, and I-10. The home offers a functional layout with a spacious living area, well-sized bedrooms, and natural light throughout. The kitchen provides ample cabinet space and flows easily into the dining area. Situated on a comfortable lot with outdoor space suitable for relaxation or future improvements. Schedule your showing today.

15. 2026-03-12
    price $183,500 493-char remark

    Show marketing remark (493 chars)

    Charming 3-bedroom, 1-bath home located at 243 Cardinal Dr, Slidell, LA 70458 in an established neighborhood with convenient access to shopping, dining, schools, and I-10. The home offers a functional layout with a spacious living area, well-sized bedrooms, and natural light throughout. The kitchen provides ample cabinet space and flows easily into the dining area. Situated on a comfortable lot with outdoor space suitable for relaxation or future improvements. Schedule your showing today.

16. 2026-01-20
    listed $192,900 Active 493-char remark

    Show marketing remark (493 chars)

    Charming 3-bedroom, 1-bath home located at 243 Cardinal Dr, Slidell, LA 70458 in an established neighborhood with convenient access to shopping, dining, schools, and I-10. The home offers a functional layout with a spacious living area, well-sized bedrooms, and natural light throughout. The kitchen provides ample cabinet space and flows easily into the dining area. Situated on a comfortable lot with outdoor space suitable for relaxation or future improvements. Schedule your showing today.

17. 2026-01-20
    listed $192,900 Active 493-char remark

    Show marketing remark (493 chars)

    Charming 3-bedroom, 1-bath home located at 243 Cardinal Dr, Slidell, LA 70458 in an established neighborhood with convenient access to shopping, dining, schools, and I-10. The home offers a functional layout with a spacious living area, well-sized bedrooms, and natural light throughout. The kitchen provides ample cabinet space and flows easily into the dining area. Situated on a comfortable lot with outdoor space suitable for relaxation or future improvements. Schedule your showing today.

18. 2023-09-18
    listed $193,000
19. 2023-03-13
    listed $205,000
20. 2018-09-24
    soldstatus $124,900
21. 2018-08-31
    soldstatus $124,900
22. 2015-10-23
    soldstatus $122,900
23. 2014-08-22
    soldstatus $80,000
24. 2014-05-07
    listed $85,000
25. 2014-05-07
    listed $85,000
26. 2009-06-01
    soldstatus $127,600
27. 2009-05-18
    soldstatus $127,500
28. 2009-03-19
    listed $124,500
29. 2009-03-19
    listed $124,500
30. 2003-06-03
    soldstatus $79,800
31. 2003-05-30
    soldstatus $79,800
32. 2003-03-21
    listed $77,500
33. 2003-03-21
    listed $77,500

ⓘ 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: $859 · $72/mo
• Projected year-2 tax: $1,009 · $84/mo
• Expected delta: +$150/yr (+$13/mo · 17.5%)

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

Taxation est. · year 1

• Rental income: $20,791
• − Mortgage interest: −$10,279
• − Property taxes: −$859
• − Insurance: −$918
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$5,338
• Taxable income: $71
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $3,084/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

• Census place: Slidell, LA
• County: Saint Tammany Parish · 228,296 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,034
• Household income: $72,843
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 1331.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 10% Hispanic / Latino 9% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Lithuanian 15% Slovak 2% Romanian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Vietnamese 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: ▼ -173.60%
• Current HPI: 147.4749
• Rent YoY: ▲ 1.47%
• 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

+136.8% since first listed

20 events — show timeline

• 2026-03-12 Price Changed $183,500 AcadianaMLS
• 2026-03-12 Price Changed $183,500 GSREIN
• 2026-01-20 Listed $192,900 GSREIN
• 2026-01-20 Listed $192,900 AcadianaMLS
• 2023-09-18 Listed $193,000 AcadianaMLS
• 2023-03-13 Listed $205,000 AcadianaMLS
• 2018-09-24 Sold (Public Records) $124,900 Public Records
• 2018-08-31 Sold (Public Records) $124,900 Public Records
• 2015-10-23 Sold (Public Records) $122,900 Public Records
• 2014-08-22 Sold (MLS) $80,000 GSREIN
• 2014-05-07 Listed $85,000 AcadianaMLS
• 2014-05-07 Listed $85,000 GSREIN
• 2009-06-01 Sold (Public Records) $127,600 Public Records
• 2009-05-18 Sold (MLS) $127,500 GSREIN
• 2009-03-19 Listed $124,500 AcadianaMLS
• 2009-03-19 Listed $124,500 GSREIN
• 2003-06-03 Sold (Public Records) $79,800 Public Records
• 2003-05-30 Sold (MLS) $79,800 GSREIN
• 2003-03-21 Listed $77,500 AcadianaMLS
• 2003-03-21 Listed $77,500 GSREIN

Property tax history

-7.9%/yr

Latest (2025): $859 · -8.4% YoY. Source: county tax records.