232 Martin Ln · Slidell, LA 70458

$200,000

5 bd · 2.0 ba · 2,000 sqft · SingleFamily public records · 80 Days on market

Built 1971 $100/sqft · 35% below area Est $307k · 35% 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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• 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

RARE FIND! Situated on a quiet dead-end road, this spacious 5 bed 2 bath 2,000 sq ft home is a must see. The open floor plan features a large living area that flows into the updated kitchen with stainless steel appliances. Recent upgrades include a newer hot water heater ,and no carpet throughout the home. The refrigerator, washer, and dryer all remain with the home. Enjoy the heated and cooled sunroom overlooking the large fenced backyard. Shed in backyard has potential but needs some TCL and has electric ran to it. Located in an X Flood Zone. Conveniently located to dining, shopping and entertainment this home is truly move-in ready.

Key facts

• Open floor plan
• Quiet dead-end road
• Updated kitchen

Tags

• QUIET DEAD-END ROAD
• OPEN FLOOR PLAN
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• HEATED AND COOLED SUNROOM
• LARGE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,064 units permitted in St. Tammany Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/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 $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 80 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 27y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 1.01% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 8.2

CMA / ARV

• ARV (median comp): $307,022
• List price: $200,000
• Delta: -34.86%
• 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
800 Franklin Ct	0.12mi	4/2.0 (-1)	2,035 (+2%)	7mo	$315,000	$155	80
1501 Rue Chartres St	0.43mi	4/2.0 (-1)	2,037 (+2%)	4mo	$290,000	$142	68
110 Fountain Dr	0.33mi	4/2.5 (-1)	1,898 (-5%)	1mo	$185,000	$97	68
806 Freedom Ln	0.14mi	4/2.0 (-1)	2,280 (+14%)	0mo	$230,000	$101	65
1411 Patriot St	0.31mi	4/2.0 (-1)	2,162 (+8%)	8mo	$225,000	$104	61
400 Longleaf Dr	0.62mi	4/2.0 (-1)	2,042 (+2%)	8mo	$185,000	$91	56
132 Melody Ln	0.65mi	4/2.0 (-1)	1,886 (-6%)	1mo	$225,000	$119	54
1513 Rue Lemans Dr	0.59mi	4/2.0 (-1)	1,888 (-6%)	5mo	$245,000	$130	54
1408 Fernwood Dr	0.73mi	4/2.0 (-1)	1,893 (-5%)	4mo	$229,000	$121	49
1608 Rue Lemans	0.60mi	4/2.0 (-1)	2,195 (+10%)	3mo	$263,500	$120	48
1414 Englewood Dr	0.72mi	4/2.0 (-1)	1,865 (-7%)	8mo	$260,000	$139	44
412 Briargrove Dr	0.59mi	4/2.0 (-1)	1,739 (-13%)	4mo	$245,000	$141	42

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: -7.7%
• Equity multiple: 0.72×
• Total profit: $-15,672
• Equity at exit: $29,821

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-425
• Equity at exit: $17,292

Cash invested: $56,000 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$154 /mo · $1,843/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $311

Break-even live

Break-even rent $1,627

Max offer price $200,000

Occupancy floor 80%

Sensitivity live

Price	-10% $425	-5% $368	+0% $311	+5% $255	+10% $198
Rent	-10% $152	-5% $232	+0% $311	+5% $391	+10% $471
Rate	-1.0pp $412	-0.5pp $362	base $311	+0.5pp $260	+1.0pp $207

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 Rue Bordeaux Slidell, LA	4.0	2.0	2268	$2,000	$0.88	4d	1	0.33mi
1011 Rue Bordeaux Slidell, LA	4.0	2.0	2268	$2,000	$0.88	4d	1	0.33mi
129 Fountain Dr Slidell, LA	4.0	2.0	1879	$1,850	$0.98	15d	1	0.42mi
1030 Rue Corton Slidell, LA	4.0	2.0	1931	$2,150	$1.11	44d	1	0.42mi
347 Oriole Dr Slidell, LA	4.0	1.5	1560	$1,500	$0.96	44d	1	0.53mi
347 Oriole Dr Slidell, LA	4.0	1.5	1560	$1,500	$0.96	24d	1	0.53mi
542 Driftwood Cir Slidell, LA	4.0	2.0	1960	$2,100	$1.07	4d	1	0.95mi
1540 Queens Dr Slidell, LA	4.0	2.0	1900	$2,300	$1.21	18d	1	0.96mi
117 S Queens Dr Slidell, LA	4.0	2.0	1476	$1,800	$1.22	4d	1	1.34mi
100 Firwood Dr Slidell, LA	4.0	2.0	1649	$1,900	$1.15	44d	1	1.49mi

Listing history 50 events

1. 2026-06-21
   days on market $200,000 Active 80 DOM
2. 2026-06-18
   days on market $200,000 Active 77 DOM
3. 2026-06-17
   days on market $200,000 Active 76 DOM
4. 2026-06-16
   days on market $200,000 Active 75 DOM
5. 2026-06-15
   days on market $200,000 Active 74 DOM
6. 2026-06-13
   days on market $200,000 Active 72 DOM
7. 2026-06-10
   days on market $200,000 Active 69 DOM
8. 2026-06-09
   days on market $200,000 Active 68 DOM
9. 2026-06-08
   days on market $200,000 Active 67 DOM
10. 2026-06-07
    days on market $200,000 Active 66 DOM
11. 2026-06-03
    days on market $200,000 Active 62 DOM
12. 2026-06-02
    days on market $200,000 Active 61 DOM
13. 2026-06-01
    days on market $200,000 Active 60 DOM
14. 2026-05-31
    pricedays on market $200,000 Active 59 DOM
15. 2026-05-12
    price $209,777 643-char remark

    Show marketing remark (644 chars)

    RARE FIND! Situated on a quiet dead-end road, this spacious 5 bed 2 bath 2,000 sq ft home is a must see. The open floor plan features a large living area that flows into the updated kitchen with stainless steel appliances. Recent upgrades include a newer hot water heater , and no carpet throughout the home. The refrigerator, washer, and dryer all remain with the home. Enjoy the heated and cooled sunroom overlooking the large fenced backyard. Shed in backyard has potential but needs some TCL and has electric ran to it. Located in an X Flood Zone. Conveniently located to dining, shopping and entertainment this home is truly move-in ready.

16. 2026-05-12
    price $209,777 644-char remark

    Show marketing remark (644 chars)

    RARE FIND! Situated on a quiet dead-end road, this spacious 5 bed 2 bath 2,000 sq ft home is a must see. The open floor plan features a large living area that flows into the updated kitchen with stainless steel appliances. Recent upgrades include a newer hot water heater , and no carpet throughout the home. The refrigerator, washer, and dryer all remain with the home. Enjoy the heated and cooled sunroom overlooking the large fenced backyard. Shed in backyard has potential but needs some TCL and has electric ran to it. Located in an X Flood Zone. Conveniently located to dining, shopping and entertainment this home is truly move-in ready.

17. 2026-04-02
    listed $219,777 Active 643-char remark

    Show marketing remark (644 chars)

    RARE FIND! Situated on a quiet dead-end road, this spacious 5 bed 2 bath 2,000 sq ft home is a must see. The open floor plan features a large living area that flows into the updated kitchen with stainless steel appliances. Recent upgrades include a newer hot water heater , and no carpet throughout the home. The refrigerator, washer, and dryer all remain with the home. Enjoy the heated and cooled sunroom overlooking the large fenced backyard. Shed in backyard has potential but needs some TCL and has electric ran to it. Located in an X Flood Zone. Conveniently located to dining, shopping and entertainment this home is truly move-in ready.

18. 2026-04-02
    listed $219,777 Active 644-char remark

    Show marketing remark (644 chars)

    RARE FIND! Situated on a quiet dead-end road, this spacious 5 bed 2 bath 2,000 sq ft home is a must see. The open floor plan features a large living area that flows into the updated kitchen with stainless steel appliances. Recent upgrades include a newer hot water heater , and no carpet throughout the home. The refrigerator, washer, and dryer all remain with the home. Enjoy the heated and cooled sunroom overlooking the large fenced backyard. Shed in backyard has potential but needs some TCL and has electric ran to it. Located in an X Flood Zone. Conveniently located to dining, shopping and entertainment this home is truly move-in ready.

19. 2026-02-18
    price $229,777
20. 2026-02-18
    price $229,777
21. 2026-01-19
    price $239,900
22. 2026-01-19
    price $239,900
23. 2026-01-07
    listed $248,000 Active
24. 2022-06-03
    soldstatus $225,000 Closed
25. 2022-06-03
    soldstatus $225,000
26. 2022-05-01
    status Pending
27. 2022-04-27
    price $235,000
28. 2022-04-22
    listed $235,000
29. 2022-04-22
    listed $250,000 Active
30. 2016-01-06
    soldstatus $122,000
31. 2015-12-29
    soldstatus $122,000 Sold
32. 2015-11-11
    historical Pending Continue to Show
33. 2015-09-29
    price $125,000
34. 2015-08-25
    listed $130,000 Active
35. 2015-08-25
    listed $125,000
36. 2015-02-20
    listed $139,000
37. 2015-02-20
    listed $139,000
38. 2013-03-11
    soldstatus $125,000
39. 2013-03-01
    soldstatus $125,000
40. 2012-10-15
    listed $124,500
41. 2012-10-15
    listed $124,500
42. 2012-02-16
    listed $132,300
43. 2012-02-16
    listed $132,300
44. 2011-12-30
    listed $129,900
45. 2011-12-30
    listed $129,900
46. 2011-06-24
    listed $127,900
47. 2011-06-24
    listed $127,900
48. 1999-12-30
    soldstatus $75,500
49. 1999-11-16
    listed $79,900
50. 1999-11-16
    listed $79,900

ⓘ 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: $1,843 · $154/mo
• Projected year-2 tax: $1,843 · $154/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,260
• − Mortgage interest: −$11,203
• − Property taxes: −$1,843
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − Depreciation: −$5,818
• Taxable income: $514
• Est. tax owed @ 24.0%: −$123
• After-tax cash flow: $3,613/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

+162.5% since first listed

36 events — show timeline

• 2026-05-12 Price Changed $209,777 AcadianaMLS
• 2026-05-12 Price Changed $209,777 GSREIN
• 2026-04-02 Listed $219,777 GSREIN
• 2026-04-02 Listed $219,777 AcadianaMLS
• 2026-02-18 Price Changed $229,777 AcadianaMLS
• 2026-02-18 Price Changed $229,777 GSREIN
• 2026-01-19 Price Changed $239,900 AcadianaMLS
• 2026-01-19 Price Changed $239,900 GSREIN
• 2026-01-07 Listed $248,000 AcadianaMLS
• 2022-06-03 Sold (Public Records) $225,000 Public Records
• 2022-06-03 Sold (MLS) $225,000 GSREIN
• 2022-05-01 Pending — GSREIN
• 2022-04-27 Price Changed $235,000 GSREIN
• 2022-04-22 Listed $250,000 GSREIN
• 2022-04-22 Listed $235,000 AcadianaMLS
• 2016-01-06 Sold (Public Records) $122,000 Public Records
• 2015-12-29 Sold (MLS) $122,000 GSREIN
• 2015-11-11 Contingent — GSREIN
• 2015-09-29 Price Changed $125,000 GSREIN
• 2015-08-25 Listed $130,000 GSREIN
• 2015-08-25 Listed $125,000 AcadianaMLS
• 2015-02-20 Listed $139,000 GSREIN
• 2015-02-20 Listed $139,000 AcadianaMLS
• 2013-03-11 Sold (Public Records) $125,000 Public Records
• 2013-03-01 Sold (MLS) $125,000 GSREIN
• 2012-10-15 Listed $124,500 AcadianaMLS
• 2012-10-15 Listed $124,500 GSREIN
• 2012-02-16 Listed $132,300 GSREIN
• 2012-02-16 Listed $132,300 AcadianaMLS
• 2011-12-30 Listed $129,900 GSREIN
• 2011-12-30 Listed $129,900 AcadianaMLS
• 2011-06-24 Listed $127,900 GSREIN
• 2011-06-24 Listed $127,900 AcadianaMLS
• 1999-12-30 Sold (MLS) $75,500 GSREIN
• 1999-11-16 Listed $79,900 GSREIN
• 1999-11-16 Listed $79,900 AcadianaMLS

Property tax history

-1.8%/yr

Latest (2025): $1,843 · -37.7% YoY. Source: county tax records.