Bonsai Plan · Slidell, LA 70461

$184,900

3 bd · 2.0 ba · 1,178 sqft · SingleFamily · 432 Days on market

Excellent condition ↓ 5% since listing

---

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 +12.2/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.9/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the Bonsai, a beautifully designed single-story home that blends modern style with everyday comfort. Located in the sought-after community of Lakeshore Villages in Slidell, Louisiana, this home offers 3 bedrooms, 2 full bathrooms, and 1,178 of thoughtfully planned living space. Step inside to an open-concept layout that seamlessly connects the kitchen, dining, and living areas, perfect for both daily life and entertaining guests. The kitchen is a standout feature, with shaker-style cabinetry, stainless-steel appliances, a gooseneck pulldown faucet, and elegant 3 cm granite countertops. A walk-in pantry and dedicated laundry room add even more convenience. The dining area flows naturally into a welcoming living room, creating a warm and inviting space for family meals or cozy gatherings. Each bedroom offers soft carpeting and generous closet space. The private primary suite is located at the front of the home and features a dual-sink vanity, tub/shower combo, and a walk-in closet. The Bonsai also gives you a choice of two stunning exterior designs, allowing you to personalize your home's curb appeal. Ready to make the Bonsai your new home? Contact us today to schedule your private tour and experience the comfort, charm, and convenience this floorplan has to offer!

Key facts

• Open-concept layout
• Walk-in pantry
• Listed 432 days

Tags

• OPEN-CONCEPT LAYOUT
• SHAKER-STYLE CABINETRY
• STAINLESS-STEEL APPLIANCES
• GOOSENECK PULLDOWN FAUCET
• 3 CM GRANITE COUNTERTOPS
• WALK-IN PANTRY

🏗️ New construction. The $184,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $216,729.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-45 ($-546/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (0.6% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: W.L. Abney Elementary School (math 31% / reading 38%, grade F, #284 of 646 statewide, top 46%, 1,094 students, 70% FRL); St. Tammany Junior High School (math 19% / reading 41%, grade F, #114 of 218 statewide, top 53%, 793 students, 68% FRL); Salmen High School (math 15% / reading 27%, grade F, #179 of 265 statewide, top 68%, 1,216 students, 62% FRL) — zoned schools average 67% FRL vs 40% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 49% district-wide (-20 pts) — the specific schools serving this property underperform the St. Tammany Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.7%/yr); 778 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $7k 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 432 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.

Recommended offer $162,712 (12.0% 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 432 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (median comp): $216,729
• List price: $184,900
• Delta: -14.69%
• 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
3481 Ward Creek Rd	0.06mi	3/2.0	1,188 (+1%)	0mo	$195,000	$164	96
6561 Cypress Vine Ct	0.06mi	3/2.0	1,178 (0%)	11mo	$183,900	$156	88
6573 Cypress Vine Ct	0.06mi	3/2.0	1,178 (0%)	12mo	$194,900	$165	87
3946 Seagull Cir	0.53mi	3/2.0	1,188 (+1%)	14mo	$203,700	$171	62
3846 Seagull Cir	0.69mi	3/2.0	1,188 (+1%)	12mo	$198,900	$167	56
3839 Seagull Cir	0.69mi	3/2.0	1,188 (+1%)	13mo	$198,900	$167	56
3835 Seagull Cir	0.70mi	3/2.0	1,188 (+1%)	13mo	$192,525	$162	55
3804 Seagull Cir	0.74mi	3/2.0	1,188 (+1%)	11mo	$202,525	$170	55
3823 Seagull Cir	0.71mi	3/2.0	1,188 (+1%)	13mo	$199,900	$168	54
3822 Seagull Cir	0.72mi	3/2.0	1,188 (+1%)	13mo	$198,000	$167	54
3812 Seagull Cir	0.74mi	3/2.0	1,188 (+1%)	13mo	$195,000	$164	53
5307 Cypress Branch Dr	0.74mi	3/2.0	1,298 (+10%)	14mo	$230,000	$177	37

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.34×
• Total profit: $-40,327
• Equity at exit: $32,315

10-year hold

• IRR: -14.7%
• Equity multiple: 0.21×
• Total profit: $-48,084
• Equity at exit: $18,739

Cash invested: $60,684 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 20 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $227,900 ($169/sqft)
• Median days on market: 121 d
• This list price: 24% of active listings are priced below it
• ARV vs active asking: +9.1% vs current asking $/sqft

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

ZIP-level market 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 778
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,838 high
• Mortgage (P&I): −$1,137
• Tax est. 1.5%: −$271 /mo · $3,251/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-45

Break-even live

Break-even rent $1,896

Max offer price $210,146

Occupancy floor 97%

Sensitivity live

Price	-10% $104	-5% $29	+0% $-45	+5% $-120	+10% $-195
Rent	-10% $-191	-5% $-118	+0% $-45	+5% $27	+10% $100
Rate	-1.0pp $64	-0.5pp $10	base $-45	+0.5pp $-102	+1.0pp $-159

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: $54,182
• Closing costs: $6,502
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1586	$2,195	$1.38	0d	13	0.52mi
3604 Spruce Key Ln Slidell, LA	3.0–4.0	2.0	1539	$2,150	$1.40	140d	1	0.52mi
3877 Seagull Cir Slidell, LA	4.0	2.0	1425	$2,350	$1.65	10d	1	0.63mi
3886 Seagull Cir Slidell, LA	3.0	2.0	1188	$2,000	$1.68	0d	1	0.64mi
301 Lakeshore Blvd N Slidell, LA	1.0–4.0	1.0–2.0	1134	$1,408	$1.24	0d	1	0.74mi
7472 1st Lake Dr Slidell, LA	3.0	2.0	1298	$2,000	$1.54	67d	1	0.82mi
541 New Basin Rd Slidell, LA	3.0	2.0	1447	$2,250	$1.55	87d	1	0.82mi
200 Long St Slidell, LA	2.0–4.0	2.0	1112	$1,373	$1.23	0d	1	0.87mi
3500 Oak Harbor Blvd Slidell, LA	1.0–2.0	1.0–2.0	880	$1,550	$1.76	0d	11	0.94mi
3900 Lakeshore Blvd E Unit 233 Slidell, LA	2.0	2.0	1219	$1,690	$1.39	111d	1	1.11mi
3900 Lakeshore Blvd E #125 Slidell, LA	2.0	2.0	1219	$1,670	$1.37	139d	1	1.14mi
3900 Lakeshore Blvd E Slidell, LA	2.0	2.0	1219	$1,755	$1.44	98d	2	1.14mi
3900 Lakeshore Blvd E Slidell, LA	2.0	2.0	1219	$1,755	$1.44	0d	1	1.14mi
224 Marina Dr Slidell, LA	2.0	1.5	1287	$1,400	$1.09	139d	1	1.26mi
232 Marina Dr Slidell, LA	2.0	1.5	1250	$1,500	$1.20	139d	1	1.26mi
152 Marina Dr Slidell, LA	2.0	2.0	1250	$1,400	$1.12	116d	1	1.27mi
732 Marina Dr Slidell, LA	2.0	2.5	1182	$1,975	$1.67	10d	1	1.32mi
820 Marina Dr #304 Slidell, LA	2.0	2.0	1100	$1,200	$1.09	10d	1	1.39mi
820 Marina Dr #304 Slidell, LA	2.0	2.0	1100	$1,400	$1.27	74d	1	1.39mi
519 Spartan Dr #9101 Slidell, LA	2.0	2.0	1304	$1,400	$1.07	119d	1	1.46mi
505 Spartan Dr Slidell, LA	1.0–2.0	1.0–2.0	1264	$1,400	$1.11	10d	2	1.48mi

Listing history 50 events

1. 2026-09-23
   days on market $184,900 Active 432 DOM
2. 2026-09-22
   days on market $184,900 Active 431 DOM
3. 2026-09-21
   days on market $184,900 Active 430 DOM
4. 2026-09-20
   days on market $184,900 Active 429 DOM
5. 2026-09-19
   days on market $184,900 Active 428 DOM
6. 2026-09-18
   days on market $184,900 Active 427 DOM
7. 2026-09-17
   days on market $184,900 Active 426 DOM
8. 2026-09-16
   days on market $184,900 Active 425 DOM
9. 2026-09-15
   days on market $184,900 Active 424 DOM
10. 2026-09-14
    days on market $184,900 Active 423 DOM
11. 2026-09-13
    days on market $184,900 Active 422 DOM
12. 2026-09-12
    days on market $184,900 Active 421 DOM
13. 2026-09-05
    days on market $184,900 Active 414 DOM
14. 2026-09-04
    days on market $184,900 Active 413 DOM
15. 2026-09-03
    days on market $184,900 Active 412 DOM
16. 2026-08-31
    days on market $184,900 Active 409 DOM
17. 2026-08-29
    days on market $184,900 Active 407 DOM
18. 2026-08-28
    days on market $184,900 Active 406 DOM
19. 2026-08-27
    days on market $184,900 Active 405 DOM
20. 2026-08-25
    days on market $184,900 Active 403 DOM
21. 2026-08-23
    days on market $184,900 Active 401 DOM
22. 2026-08-22
    days on market $184,900 Active 400 DOM
23. 2026-08-21
    days on market $184,900 Active 399 DOM
24. 2026-08-20
    days on market $184,900 Active 398 DOM
25. 2026-08-19
    days on market $184,900 Active 397 DOM
26. 2026-08-18
    days on market $184,900 Active 396 DOM
27. 2026-08-17
    days on market $184,900 Active 395 DOM
28. 2026-08-16
    days on market $184,900 Active 394 DOM
29. 2026-08-15
    days on market $184,900 Active 393 DOM
30. 2026-08-14
    days on market $184,900 Active 392 DOM
31. 2026-08-13
    days on market $184,900 Active 391 DOM
32. 2026-08-12
    days on market $184,900 Active 390 DOM
33. 2026-08-11
    days on market $184,900 Active 389 DOM
34. 2026-08-10
    days on market $184,900 Active 388 DOM
35. 2026-08-09
    days on market $184,900 Active 387 DOM
36. 2026-08-08
    days on market $184,900 Active 386 DOM
37. 2026-08-07
    days on market $184,900 Active 385 DOM
38. 2026-08-06
    days on market $184,900 Active 384 DOM
39. 2026-08-05
    days on market $184,900 Active 383 DOM
40. 2026-08-04
    days on market $184,900 Active 382 DOM
41. 2026-08-03
    days on market $184,900 Active 381 DOM
42. 2026-07-31
    days on market $184,900 Active 378 DOM
43. 2026-07-30
    days on market $184,900 Active 376 DOM
44. 2026-07-28
    days on market $184,900 Active 375 DOM
45. 2026-07-26
    days on market $184,900 Active 373 DOM
46. 2026-07-24
    days on market $184,900 Active 371 DOM
47. 2026-07-23
    days on market $184,900 Active 370 DOM
48. 2026-07-22
    days on market $184,900 Active 369 DOM
49. 2026-07-21
    days on market $184,900 Active 368 DOM
50. 2026-07-20
    days on market $184,900 Active 367 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: $22,060
• − Mortgage interest: −$12,140
• − Property taxes: −$3,251
• − Insurance: −$1,084
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$6,305
• Taxable loss: −$4,249
• Est. tax savings @ 24.0%: +$1,020
• After-tax cash flow: $474/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

Excellent 95/100 None rehab

This single-story home in Slidell, Louisiana, is in excellent condition with modern finishes and a well-maintained exterior. It offers a good investment opportunity with potential for minor updates to enhance its curb appeal and functionality.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Adding smart home features — Improves convenience and can increase both resale and rental value. ↑
• Both Upgrading the kitchen appliances — Enhances functionality and can increase both resale and rental value. ↑
• Both Adding a smart thermostat — Improves energy efficiency and can increase both resale and rental value. ↑

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Abney Elementary Early Childhood Center Middle St. Tammany Junior High School F LA #114/218 Nat'l #8,861/14,009 High Salmen High School F LA #179/265 Nat'l #13,947/17,239

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 70/100

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

• County: Saint Tammany Parish · 286,725 people
• City population: 95,511
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 34,808
• Household income: $89,003
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 25% of renters

---

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Black 24% Two or more races 14% Hispanic / Latino 11% Asian 3%
• Common ancestry: Lithuanian 9% Italian 1% Romanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 7% Chinese 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: ▼ -74.47%
• Current HPI: 151.3353
• Rent YoY: ▲ 1.72%
• 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

-5.1% since first listed

3 events — show timeline

• 2026-02-19 Price Changed $184,900 Zillow
• 2025-09-13 Price Changed $188,900 Zillow
• 2025-07-18 Listed $194,900 Zillow