387 Cross Gates Blvd · Slidell, LA 70461

$278,900

3 bd · 2.0 ba · 2,200 sqft · SingleFamily public records · 88 Days on market

Built 1982 0.33 ac lot $127/sqft · 19% below area Est $346k · 19% under

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• 1% rule +3.8/10.0
• 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

Check out this beautiful 3 bed, 2 bath home, plus a 2 room office in Slidell's sought after Cross Gates. This brick home is sitting on an oversized, fully fenced lot. The foyer leads you into the the wide open living room with a brick fireplace, and vaulted ceilings with stunning exposed beams. Kitchen has brick flooring, stainless steel appliances, and granite counters. Large, 2 room office that could be used also be used as bonus/flex rooms. All the bedrooms have been freshly painted, and the Primary bedroom has vaulted ceilings with a separate sitting area. Enclosed sunroom overlooks the backyard. New gutters, French drains, and sump pump with landscaping. 2 car attached garage. No carpet throughout, with new tile flooring in all bedrooms! Flood Zone X! NEW ROOF Feb. 2023! New HVAC condenser 2025! This home qualifies for a grant up to 4% of purchase price for approved teachers or first responders, see link here: https://www.lhc.la.gov/keysforservice

Key facts

• Brick fireplace
• Exposed beams
• Vaulted ceilings

Tags

• OVERSIZED FULLY FENCED LOT
• WIDE OPEN LIVING ROOM
• BRICK FIREPLACE
• VAULTED CEILINGS
• EXPOSED BEAMS
• BRICK FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/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 $247k (11.6% below list).
• Recommended offer: $247k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.9% in Slidell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+1.7%/yr); 589 active listings in the ZIP; 11 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).
• This rent runs 33% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 88 days — a 6% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 27y ago; this cycle's ask is 13845% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $246,621 (11.6% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.88% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.35%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (median comp): $346,262
• List price: $278,900
• Delta: -19.45%
• 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
511 Cross Gates Blvd	0.28mi	4/2.0 (+1)	2,281 (+4%)	4mo	$325,000	$142	73
245 Cross Gates Blvd	0.42mi	3/2.5	2,284 (+4%)	1mo	$345,000	$151	71
307 N Buckingham Dr	0.55mi	4/2.0 (+1)	2,260 (+3%)	1mo	$265,000	$117	64
105 Honeywood Dr	0.64mi	3/2.5	2,275 (+3%)	0mo	$270,000	$119	62
632 Whitney Dr	0.56mi	4/2.5 (+1)	2,183 (-1%)	5mo	$384,000	$176	62
103 Wales Ct	0.61mi	4/2.0 (+1)	2,202 (+0%)	7mo	$330,000	$150	61
543 Cross Gates Blvd	0.57mi	4/2.0 (+1)	2,328 (+6%)	3mo	$300,000	$129	56
206 Goldenwood Dr	0.49mi	4/2.0 (+1)	2,050 (-7%)	7mo	$200,990	$98	55
59398 Spring Dr	0.56mi	4/2.0 (+1)	2,076 (-6%)	7mo	$249,900	$120	54
59380 Summer Rd	0.61mi	3/2.0	1,939 (-12%)	3mo	$207,600	$107	49
102 Circlewood Ct	0.61mi	4/2.5 (+1)	2,411 (+10%)	1mo	$265,000	$110	48
153 Silverwood Dr	0.52mi	4/2.5 (+1)	2,411 (+10%)	6mo	$333,000	$138	48

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-38,737
• Equity at exit: $41,585

10-year hold

• IRR: -7.3%
• Equity multiple: 0.56×
• Total profit: $-34,040
• Equity at exit: $24,114

Cash invested: $78,092 (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 70461

• Home prices YoY: -33.0%
• Rents YoY: 1.7%
• Active inventory: 589
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,466 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$152 /mo · $1,821/yr
• Insurance: −$116
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $151

Break-even live

Break-even rent $2,275

Max offer price $278,900

Occupancy floor 89%

Sensitivity live

Price	-10% $309	-5% $230	+0% $151	+5% $72	+10% $-7
Rent	-10% $-44	-5% $54	+0% $151	+5% $249	+10% $346
Rate	-1.0pp $292	-0.5pp $222	base $151	+0.5pp $79	+1.0pp $6

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: $69,725
• Closing costs: $8,367
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 Cross Gates Blvd Slidell, LA	3.0	2.0	2045	$2,150	$1.05	24d	1	0.27mi
555 Cross Gates Blvd Slidell, LA	4.0	2.5	2300	$2,425	$1.05	44d	1	0.65mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,500	$1.56	44d	1	0.75mi
361 Autumn Lakes Rd Slidell, LA	4.0	2.5	2250	$3,000	$1.33	12d	1	0.75mi
1305 Spring Ridge Cir Slidell, LA	4.0	3.0	2950	$3,350	$1.14	12d	1	1.02mi
812 N Lake Verret Ct Slidell, LA	3.0	2.0	1862	$2,500	$1.34	24d	1	1.18mi
403 Sandpiper Ct Slidell, LA	4.0	2.0	2060	$2,650	$1.29	4d	1	1.29mi
814 Lake Borgne Ct Slidell, LA	3.0	2.0	1560	$1,900	$1.22	22d	1	1.39mi
401 Starling Dr Slidell, LA	4.0	2.5	2816	$2,800	$0.99	21d	1	1.41mi
221 Lake Tahoe Dr Slidell, LA	3.0	2.0	1671	$1,850	$1.11	44d	1	1.41mi
3517 Meadow Lake Dr W Slidell, LA	3.0	2.0	1931	$2,200	$1.14	44d	1	1.46mi

Listing history 35 events

1. 2026-06-08
   days on market $278,900 Active 88 DOM
2. 2026-06-07
   days on market $278,900 Active 87 DOM
3. 2026-06-03
   days on market $278,900 Active 83 DOM
4. 2026-06-02
   days on market $278,900 Active 82 DOM
5. 2026-06-01
   days on market $278,900 Active 81 DOM
6. 2026-05-31
   days on market $278,900 Active 80 DOM
7. 2026-05-19
   listed $2,000
8. 2026-04-20
   price $278,900 966-char remark

   Show marketing remark (969 chars)

   Check out this beautiful 3 bed, 2 bath home, plus a 2 room office in Slidell's sought after Cross Gates. This brick home is sitting on an oversized, fully fenced lot. The foyer leads you into the the wide open living room with a brick fireplace, and vaulted ceilings with stunning exposed beams. Kitchen has brick flooring, stainless steel appliances, and granite counters. Large, 2 room office that could be used also be used as bonus/flex rooms. All the bedrooms have been freshly painted, and the Primary bedroom has vaulted ceilings with a separate sitting area. Enclosed sunroom overlooks the backyard. New gutters, French drains, and sump pump with landscaping. 2 car attached garage. No carpet throughout, with new tile flooring in all bedrooms! Flood Zone X! NEW ROOF Feb. 2023! New HVAC condenser 2025! This home qualifies for a grant up to 4% of purchase price for approved teachers or first responders, see link here: https://www. lhc. la. gov/keysforservice

9. 2026-04-20
   price $278,900 969-char remark

   Show marketing remark (969 chars)

   Check out this beautiful 3 bed, 2 bath home, plus a 2 room office in Slidell's sought after Cross Gates. This brick home is sitting on an oversized, fully fenced lot. The foyer leads you into the the wide open living room with a brick fireplace, and vaulted ceilings with stunning exposed beams. Kitchen has brick flooring, stainless steel appliances, and granite counters. Large, 2 room office that could be used also be used as bonus/flex rooms. All the bedrooms have been freshly painted, and the Primary bedroom has vaulted ceilings with a separate sitting area. Enclosed sunroom overlooks the backyard. New gutters, French drains, and sump pump with landscaping. 2 car attached garage. No carpet throughout, with new tile flooring in all bedrooms! Flood Zone X! NEW ROOF Feb. 2023! New HVAC condenser 2025! This home qualifies for a grant up to 4% of purchase price for approved teachers or first responders, see link here: https://www. lhc. la. gov/keysforservice

10. 2026-03-12
    listed $299,000 Active 966-char remark

    Show marketing remark (969 chars)

    Check out this beautiful 3 bed, 2 bath home, plus a 2 room office in Slidell's sought after Cross Gates. This brick home is sitting on an oversized, fully fenced lot. The foyer leads you into the the wide open living room with a brick fireplace, and vaulted ceilings with stunning exposed beams. Kitchen has brick flooring, stainless steel appliances, and granite counters. Large, 2 room office that could be used also be used as bonus/flex rooms. All the bedrooms have been freshly painted, and the Primary bedroom has vaulted ceilings with a separate sitting area. Enclosed sunroom overlooks the backyard. New gutters, French drains, and sump pump with landscaping. 2 car attached garage. No carpet throughout, with new tile flooring in all bedrooms! Flood Zone X! NEW ROOF Feb. 2023! New HVAC condenser 2025! This home qualifies for a grant up to 4% of purchase price for approved teachers or first responders, see link here: https://www. lhc. la. gov/keysforservice

11. 2026-03-12
    listed $299,000 Active 969-char remark

    Show marketing remark (969 chars)

    Check out this beautiful 3 bed, 2 bath home, plus a 2 room office in Slidell's sought after Cross Gates. This brick home is sitting on an oversized, fully fenced lot. The foyer leads you into the the wide open living room with a brick fireplace, and vaulted ceilings with stunning exposed beams. Kitchen has brick flooring, stainless steel appliances, and granite counters. Large, 2 room office that could be used also be used as bonus/flex rooms. All the bedrooms have been freshly painted, and the Primary bedroom has vaulted ceilings with a separate sitting area. Enclosed sunroom overlooks the backyard. New gutters, French drains, and sump pump with landscaping. 2 car attached garage. No carpet throughout, with new tile flooring in all bedrooms! Flood Zone X! NEW ROOF Feb. 2023! New HVAC condenser 2025! This home qualifies for a grant up to 4% of purchase price for approved teachers or first responders, see link here: https://www. lhc. la. gov/keysforservice

12. 2025-06-04
    price $299,900
13. 2025-06-04
    price $299,900
14. 2025-05-05
    listed $308,000 Active
15. 2025-01-21
    listed $308,000 Active
16. 2024-05-31
    soldstatus $250,000 Closed
17. 2024-04-04
    historical Active Under Contract
18. 2024-04-01
    status Active
19. 2024-04-01
    historical
20. 2024-03-09
    status Active
21. 2024-03-08
    historical
22. 2024-03-06
    price $257,500
23. 2024-02-23
    status Active
24. 2024-02-15
    historical
25. 2024-01-06
    status Active
26. 2023-12-28
    status Pending
27. 2023-12-23
    listed $260,000 Active
28. 2023-12-23
    listed $257,500
29. 2005-07-21
    soldstatus $186,000
30. 2005-07-08
    soldstatus $186,000
31. 2005-07-08
    listed $186,000
32. 2005-07-08
    listed $186,000
33. 1999-08-27
    soldstatus $146,900
34. 1999-07-12
    listed $149,900
35. 1999-07-12
    listed $149,900

ⓘ 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: $1,821 · $152/mo
• Projected year-2 tax: $1,821 · $152/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,595
• − Mortgage interest: −$15,623
• − Property taxes: −$1,821
• − Insurance: −$2,192
• − Repairs & maintenance: −$2,368
• − Management: −$2,368
• − Depreciation: −$8,113
• Taxable loss: −$2,890
• Est. tax savings @ 24.0%: +$694
• After-tax cash flow: $2,509/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

• County: Saint Tammany Parish · 228,296 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: 328.0

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: 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

-98.7% since first listed

29 events — show timeline

• 2026-05-19 Listed for Rent $2,000 RAAMLS
• 2026-04-20 Price Changed $278,900 AcadianaMLS
• 2026-04-20 Price Changed $278,900 GSREIN
• 2026-03-12 Listed $299,000 GSREIN
• 2026-03-12 Listed $299,000 AcadianaMLS
• 2025-06-04 Price Changed $299,900 AcadianaMLS
• 2025-06-04 Price Changed $299,900 GSREIN
• 2025-05-05 Listed $308,000 AcadianaMLS
• 2025-01-21 Listed $308,000 AcadianaMLS
• 2024-05-31 Sold (MLS) $250,000 GSREIN
• 2024-04-04 Contingent — GSREIN
• 2024-04-01 Relisted — GSREIN
• 2024-04-01 Listing Removed — GSREIN
• 2024-03-09 Relisted — GSREIN
• 2024-03-08 Listing Removed — GSREIN
• 2024-03-06 Price Changed $257,500 GSREIN
• 2024-02-23 Relisted — GSREIN
• 2024-02-15 Listing Removed — GSREIN
• 2024-01-06 Relisted — GSREIN
• 2023-12-28 Pending — GSREIN
• 2023-12-23 Listed $257,500 AcadianaMLS
• 2023-12-23 Listed $260,000 GSREIN
• 2005-07-21 Sold (Public Records) $186,000 Public Records
• 2005-07-08 Listed $186,000 AcadianaMLS
• 2005-07-08 Listed $186,000 GSREIN
• 2005-07-08 Sold (MLS) $186,000 GSREIN
• 1999-08-27 Sold (MLS) $146,900 GSREIN
• 1999-07-12 Listed $149,900 AcadianaMLS
• 1999-07-12 Listed $149,900 GSREIN

Property tax history

-3.8%/yr

Latest (2025): $1,821 · -22.4% YoY. Source: county tax records.