312 34 Ave · Covington, LA 70433

$159,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 114 Days on market

Built 1968

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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 +15.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

<br> * Cottage Charm: Freshly painted with a cozy atmosphere. <br> * Fenced-In Rear Yard: Great for pets and outdoor activities. <br> * Modern Updates: New flooring throughout for a fresh look, new dishwasher, microwave, new toilet, and light fixtures. <br> * Convenient Indoor Laundry- Spacious living room- Rear yard access, boats, trailers, and RV welcome! <br> * Prime Location: Close to Downtown Covington, Restaurants, Shopping, and Courthouse, with no flood insurance needed! <br> Affordable Living: Own this charming home for less than renting!!! Hurry, prices are on the RISE! <br> Don't miss this chance--schedule your showing today and embrace homeownership!

Key facts

• Fenced-in rear yard
• Modern updates
• Rear yard access

Tags

• FENCED-IN REAR YARD
• MODERN UPDATES
• CONVENIENT INDOOR LAUNDRY
• REAR YARD ACCESS
• PRIME LOCATION

Property features AI

Finance

• Other: Lot roughly 60 x 120; Outside city limits; Rectangular lot

Exterior

• Parking: Three or more spaces; Boat parking; RV access/parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Excellent condition
• Construction: Shingle roof; Raised foundation; Built/updated with new dishwasher, new microwave, upgraded toilet and light fixtures
• Exterior features: Fenced yard; Shed(s); Rear yard access; RV and boat friendly

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Stainless steel appliances; ENERGY STAR qualified appliances; Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $7 ($83/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 $149k (6.7% below list).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.9% 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: E. E. Lyon Elementary School (math 57% / reading 57%, grade C+, #79 of 646 statewide, top 13%, 662 students, 63% 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 57% FRL vs 40% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 530 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 114 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y 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 $138k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $145,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 6.84%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $80,080
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 E 34th Ave	0.09mi	2/1.0	771 (-12%)	24mo	$145,000	$188	55
123 W Edward St	0.41mi	2/1.0	768 (-13%)	21mo	$70,000	$91	42
506 W 29th Ave	0.65mi	3/1.0 (+1)	916 (+4%)	23mo	$71,172	$78	39

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-23,415
• Equity at exit: $23,842

10-year hold

• IRR: -3.5%
• Equity multiple: 0.75×
• Total profit: $-11,170
• Equity at exit: $13,825

Cash invested: $44,772 (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 70433

• Rents YoY: 4.3%
• Active inventory: 530
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,492 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $7

Break-even live

Break-even rent $1,483

Max offer price $159,900

Occupancy floor 95%

Sensitivity live

Price	-10% $117	-5% $62	+0% $7	+5% $-48	+10% $-104
Rent	-10% $-111	-5% $-52	+0% $7	+5% $66	+10% $125
Rate	-1.0pp $87	-0.5pp $48	base $7	+0.5pp $-35	+1.0pp $-77

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 E Hornsby St Covington, LA	2.0	2.0	1040	$1,650	$1.59	25d	1	0.10mi
209 W 31st Ave Covington, LA	3.0	2.0	1100	$1,450	$1.32	16d	1	0.49mi
425 W 29th Ave Covington, LA	2.0	1.0	800	$850	$1.06	22d	1	0.68mi
1230 W 24th Ave Covington, LA	2.0	1.0	800	$1,200	$1.50	5d	1	1.11mi
2000 Pine Crest Ave Covington, LA	2.0–4.0	2.0	1121	$1,241	$1.11	25d	1	1.15mi
1016 Ronald Reagan Hwy Covington, LA	1.0–3.0	1.0–2.0	1081	$1,418	$1.31	4d	24	1.17mi
72298 Ingram St Covington, LA	2.0	1.0	875	$1,200	$1.37	25d	1	1.20mi
17361 Regina Coeli Rd Covington, LA	2.0	1.5	1100	$1,350	$1.23	25d	1	1.45mi
312 N Buchanan St Covington, LA	3.0	2.0	1100	$1,600	$1.45	45d	1	1.48mi

Listing history 33 events

1. 2026-06-21
   days on market $159,900 Active 114 DOM
2. 2026-06-18
   days on market $159,900 Active 111 DOM
3. 2026-06-17
   days on market $159,900 Active 110 DOM
4. 2026-06-16
   days on market $159,900 Active 109 DOM
5. 2026-06-15
   days on market $159,900 Active 108 DOM
6. 2026-06-13
   days on market $159,900 Active 106 DOM
7. 2026-06-10
   days on market $159,900 Active 103 DOM
8. 2026-06-09
   days on market $159,900 Active 102 DOM
9. 2026-06-08
   days on market $159,900 Active 101 DOM
10. 2026-06-07
    statusdays on market $159,900 Active 100 DOM
11. 2026-06-03
    days on market $159,900 Active Under Contract 96 DOM
12. 2026-06-02
    days on market $159,900 Active Under Contract 95 DOM
13. 2026-06-01
    days on market $159,900 Active Under Contract 94 DOM
14. 2026-05-31
    days on market $159,900 Active Under Contract 93 DOM
15. 2026-03-31
    status Pending 669-char remark

    Show marketing remark (669 chars)

    <br> * Cottage Charm: Freshly painted with a cozy atmosphere. <br> * Fenced-In Rear Yard: Great for pets and outdoor activities. <br> * Modern Updates: New flooring throughout for a fresh look, new dishwasher, microwave, new toilet, and light fixtures. <br> * Convenient Indoor Laundry- Spacious living room- Rear yard access, boats, trailers, and RV welcome! <br> * Prime Location: Close to Downtown Covington, Restaurants, Shopping, and Courthouse, with no flood insurance needed! <br> Affordable Living: Own this charming home for less than renting!!! Hurry, prices are on the RISE! <br> Don't miss this chance--schedule your showing today and embrace homeownership!

16. 2026-03-31
    historical Active Under Contract

    Show marketing remark (669 chars)

    <br> * Cottage Charm: Freshly painted with a cozy atmosphere. <br> * Fenced-In Rear Yard: Great for pets and outdoor activities. <br> * Modern Updates: New flooring throughout for a fresh look, new dishwasher, microwave, new toilet, and light fixtures. <br> * Convenient Indoor Laundry- Spacious living room- Rear yard access, boats, trailers, and RV welcome! <br> * Prime Location: Close to Downtown Covington, Restaurants, Shopping, and Courthouse, with no flood insurance needed! <br> Affordable Living: Own this charming home for less than renting!!! Hurry, prices are on the RISE! <br> Don't miss this chance--schedule your showing today and embrace homeownership!

17. 2026-02-27
    listed $159,900 Active 669-char remark

    Show marketing remark (669 chars)

    <br> * Cottage Charm: Freshly painted with a cozy atmosphere. <br> * Fenced-In Rear Yard: Great for pets and outdoor activities. <br> * Modern Updates: New flooring throughout for a fresh look, new dishwasher, microwave, new toilet, and light fixtures. <br> * Convenient Indoor Laundry- Spacious living room- Rear yard access, boats, trailers, and RV welcome! <br> * Prime Location: Close to Downtown Covington, Restaurants, Shopping, and Courthouse, with no flood insurance needed! <br> Affordable Living: Own this charming home for less than renting!!! Hurry, prices are on the RISE! <br> Don't miss this chance--schedule your showing today and embrace homeownership!

18. 2026-02-27
    listed $159,900 Active

    Show marketing remark (669 chars)

    <br> * Cottage Charm: Freshly painted with a cozy atmosphere. <br> * Fenced-In Rear Yard: Great for pets and outdoor activities. <br> * Modern Updates: New flooring throughout for a fresh look, new dishwasher, microwave, new toilet, and light fixtures. <br> * Convenient Indoor Laundry- Spacious living room- Rear yard access, boats, trailers, and RV welcome! <br> * Prime Location: Close to Downtown Covington, Restaurants, Shopping, and Courthouse, with no flood insurance needed! <br> Affordable Living: Own this charming home for less than renting!!! Hurry, prices are on the RISE! <br> Don't miss this chance--schedule your showing today and embrace homeownership!

19. 2025-11-23
    price $159,900
20. 2025-11-23
    price $159,900
21. 2025-08-05
    listed $165,000 Active
22. 2025-08-05
    listed $165,000
23. 2023-08-21
    soldstatus $137,500
24. 2023-08-18
    soldstatus $137,500 Closed
25. 2023-08-01
    status Pending
26. 2023-07-25
    listed $129,900
27. 2023-07-25
    listed $129,900 Active
28. 2011-03-25
    listed $82,900
29. 2011-03-25
    listed $82,900
30. 2008-08-29
    soldstatus $52,100
31. 2008-07-14
    listed $52,000
32. 2008-07-14
    listed $52,000
33. 2001-01-30
    soldstatus $85,000

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,900
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$1,597
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$4,652
• Taxable loss: −$2,568
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $699/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 — 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

• Census place: Covington, LA
• County: Saint Tammany Parish · 228,296 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: 1287.0

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 (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%

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

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

+88.1% since first listed

19 events — show timeline

• 2026-03-31 Pending — AcadianaMLS
• 2026-03-31 Contingent — GSREIN
• 2026-02-27 Listed $159,900 GSREIN
• 2026-02-27 Listed $159,900 AcadianaMLS
• 2025-11-23 Price Changed $159,900 AcadianaMLS
• 2025-11-23 Price Changed $159,900 GSREIN
• 2025-08-05 Listed $165,000 AcadianaMLS
• 2025-08-05 Listed $165,000 AcadianaMLS
• 2023-08-21 Sold (Public Records) $137,500 Public Records
• 2023-08-18 Sold (MLS) $137,500 GSREIN
• 2023-08-01 Pending — GSREIN
• 2023-07-25 Listed $129,900 GSREIN
• 2023-07-25 Listed $129,900 AcadianaMLS
• 2011-03-25 Listed $82,900 GSREIN
• 2011-03-25 Listed $82,900 AcadianaMLS
• 2008-08-29 Sold (MLS) $52,100 GSREIN
• 2008-07-14 Listed $52,000 GSREIN
• 2008-07-14 Listed $52,000 AcadianaMLS
• 2001-01-30 Sold (Public Records) $85,000 Public Records

Property tax history

-9.7%/yr

Latest (2025): $309 · -2.2% YoY. Source: county tax records.