70379 A St · Covington, LA 70433

$174,800

3 bd · 2.0 ba · 1,299 sqft · SingleFamily public records · 87 Days on market

Built 2008 7,191 sqft lot $135/sqft · 23% below area Est $227k · 23% under ↓ 3% since listing

---

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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• 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

Cute raised cottage in Covington. Freshly painted walls, large sun drenched living area that opens up into the kitchen, master en suite with a good sized bathroom and closet space, shed for storage, and driveway with 2 access points. Well located on a cornet lot, tree lined street with good proximity to Covington amenities, I12 and Causeway. Vacant and easy to show. Rooms sizes are estimated.

Key facts

• Shed for storage
• Master en suite
• Tree lined street

Tags

• SUN DRENCHED LIVING AREA
• MASTER EN SUITE
• SHED FOR STORAGE
• DRIVEWAY WITH 2 ACCESS POINTS
• CORNER LOT
• TREE LINED STREET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 524 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 87 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $164,312 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $227,347
• List price: $174,800
• Delta: -23.11%
• 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
70432 2nd St	0.15mi	3/2.0	1,347 (+4%)	2mo	$227,500	$169	86
70405 F St	0.20mi	3/2.0	1,200 (-8%)	1mo	$182,000	$152	77
70408 3rd St	0.18mi	3/2.0	1,163 (-10%)	1mo	$205,000	$176	73
70381 L St	0.52mi	3/2.0	1,322 (+2%)	1mo	$218,000	$165	72
70281 C St	0.22mi	3/2.0	1,463 (+13%)	2mo	$215,000	$147	67
70519 K St	0.51mi	3/2.0	1,374 (+6%)	1mo	$257,000	$187	66
70311 11th St	0.59mi	3/2.0	1,335 (+3%)	3mo	$235,000	$176	66
70333 H St	0.32mi	4/2.0 (+1)	1,404 (+8%)	1mo	$239,900	$171	66
70312 7th St	0.40mi	3/2.0	1,410 (+8%)	2mo	$224,000	$159	66
70261 K St	0.52mi	3/2.0	1,230 (-5%)	2mo	$245,000	$199	65
70371 10th St	0.51mi	3/2.0	1,212 (-7%)	2mo	$192,500	$159	64
300 Lionel Ct	0.61mi	3/2.0	1,486 (+14%)	3mo	$245,000	$165	46

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-12,279
• Equity at exit: $26,063

10-year hold

• IRR: 4.5%
• Equity multiple: 1.35×
• Total profit: $17,078
• Equity at exit: $15,114

Cash invested: $48,944 (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: 524
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,800 high
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$218 /mo · $2,622/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $214

Break-even live

Break-even rent $1,529

Max offer price $174,800

Occupancy floor 83%

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: $43,700
• Closing costs: $5,244
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
70412 1st St Covington, LA	3.0	2.0	1182	$1,700	$1.44	17d	1	0.08mi
70330 A St Covington, LA	3.0	2.0	1163	$1,600	$1.38	20d	1	0.10mi
70466 1st St Covington, LA	3.0	2.0	1443	$2,100	$1.46	17d	1	0.17mi
70361 D St Covington, LA	3.0	2.0	1409	$1,750	$1.24	24d	1	0.18mi
70293 7th St Covington, LA	3.0	2.0	1450	$1,695	$1.17	44d	1	0.37mi
70300 7th St Covington, LA	3.0	2.0	1448	$1,750	$1.21	24d	1	0.39mi
70439 8th St Covington, LA	3.0	2.0	1267	$1,500	$1.18	24d	1	0.40mi
70266 7th St Covington, LA	3.0	2.0	1736	$1,575	$0.91	44d	1	0.41mi
70252 8th St Covington, LA	3.0	2.0	1230	$1,650	$1.34	24d	1	0.48mi
70371 10th St Covington, LA	3.0	2.0	1212	$1,695	$1.40	44d	1	0.48mi
4025 Monarch Ln Covington, LA	3.0	2.0	1853	$2,800	$1.51	44d	1	0.52mi
70403 L St Covington, LA	3.0	2.0	1250	$1,695	$1.36	44d	1	0.55mi
711 Lionel Ct Abita Springs, LA	3.0	2.0	1497	$2,000	$1.34	24d	1	0.64mi
70076 6th St Covington, LA	3.0	2.0	1151	$1,600	$1.39	24d	1	0.65mi
70045 3rd St Covington, LA	3.0	2.0	1430	$1,750	$1.22	3d	1	0.66mi
70040 2nd St Covington, LA	3.0	2.0	1416	$2,000	$1.41	3d	1	0.67mi
70096 10th St Covington, LA	3.0	2.0	1391	$1,950	$1.40	17d	1	0.80mi
21096 Washington Ave Unit B Abita Springs, LA	2.0	1.5	900	$1,050	$1.17	44d	1	0.80mi
212 Covington Cottage Ln Covington, LA	3.0	2.0	1690	$2,275	$1.35	44d	1	1.04mi
350 Emerald Forest Blvd Covington, LA	1.0–2.0	1.0–2.0	845	$1,600	$1.89	12d	2	1.06mi
28 Park Place Dr Covington, LA	1.0–3.0	1.0–2.0	963	$1,407	$1.46	2d	9	1.16mi
2021 Sullivan Ln Covington, LA	1.0–2.0	1.0–2.0	860	$1,856	$2.16	2d	18	1.43mi
445 Tiger Ave Covington, LA	3.0	2.0	1538	$2,300	$1.50	24d	1	1.48mi
3 Hollycrest Blvd Covington, LA	2.0	2.0	1413	$1,495	$1.06	3d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $174,800 Active 87 DOM
2. 2026-06-17
   days on market $174,800 Active 86 DOM
3. 2026-06-16
   days on market $174,800 Active 85 DOM
4. 2026-06-15
   days on market $174,800 Active 84 DOM
5. 2026-06-13
   pricedays on market $174,800 Active 82 DOM
6. 2026-06-10
   days on market $179,900 Active 79 DOM
7. 2026-06-09
   days on market $179,900 Active 78 DOM
8. 2026-06-08
   days on market $179,900 Active 77 DOM
9. 2026-06-07
   days on market $179,900 Active 76 DOM
10. 2026-06-03
    days on market $179,900 Active 72 DOM
11. 2026-06-02
    days on market $179,900 Active 71 DOM
12. 2026-06-01
    days on market $179,900 Active 70 DOM
13. 2026-05-31
    days on market $179,900 Active 69 DOM
14. 2026-04-25
    price $179,900 395-char remark

    Show marketing remark (395 chars)

    Cute raised cottage in Covington. Freshly painted walls, large sun drenched living area that opens up into the kitchen, master en suite with a good sized bathroom and closet space, shed for storage, and driveway with 2 access points. Well located on a cornet lot, tree lined street with good proximity to Covington amenities, I12 and Causeway. Vacant and easy to show. Rooms sizes are estimated.

15. 2026-04-24
    price $179,900 395-char remark

    Show marketing remark (395 chars)

    Cute raised cottage in Covington. Freshly painted walls, large sun drenched living area that opens up into the kitchen, master en suite with a good sized bathroom and closet space, shed for storage, and driveway with 2 access points. Well located on a cornet lot, tree lined street with good proximity to Covington amenities, I12 and Causeway. Vacant and easy to show. Rooms sizes are estimated.

16. 2026-03-22
    listed $184,900 Active 395-char remark

    Show marketing remark (395 chars)

    Cute raised cottage in Covington. Freshly painted walls, large sun drenched living area that opens up into the kitchen, master en suite with a good sized bathroom and closet space, shed for storage, and driveway with 2 access points. Well located on a cornet lot, tree lined street with good proximity to Covington amenities, I12 and Causeway. Vacant and easy to show. Rooms sizes are estimated.

17. 2026-03-22
    listed $184,900 Active 395-char remark

    Show marketing remark (395 chars)

    Cute raised cottage in Covington. Freshly painted walls, large sun drenched living area that opens up into the kitchen, master en suite with a good sized bathroom and closet space, shed for storage, and driveway with 2 access points. Well located on a cornet lot, tree lined street with good proximity to Covington amenities, I12 and Causeway. Vacant and easy to show. Rooms sizes are estimated.

ⓘ 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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $21,597
• − Mortgage interest: −$9,792
• − Property taxes: −$2,622
• − Insurance: −$874
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,085
• Taxable loss: −$231
• Est. tax savings @ 24.0%: +$56
• After-tax cash flow: $2,621/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

• 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

-2.7% since first listed

4 events — show timeline

• 2026-04-25 Price Changed $179,900 AcadianaMLS
• 2026-04-24 Price Changed $179,900 GSREIN
• 2026-03-22 Listed $184,900 GSREIN
• 2026-03-22 Listed $184,900 AcadianaMLS

Property tax history

-11.5%/yr

Latest (2025): $305 · -3.5% YoY. Source: county tax records.