1022 Clausel St · Mandeville, LA 70448

$119,500

2 bd · 2.0 ba · 1,068 sqft · SingleFamily public records · 206 Days on market

Built 1973 $112/sqft · 48% below area Est $231k · 48% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/D all included!

Key facts

• W d included
• Hvac - 2021
• Roof - 2018

Tags

• ROOF - 2018
• HVAC - 2021
• ELECTRICAL PANEL - 2022
• STAINLESS STEEL APPLIANCES
• W D INCLUDED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 3.5% in Mandeville — 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 77/100 on livability (#13 in LA, #3,224 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing 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 (+1.1%/yr); 260 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 $826 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 28y ago; this cycle's ask has dropped $60k (34%) 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 $105,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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 A-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: 1.54% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.15%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

• ARV (median comp): $231,263
• List price: $119,500
• Delta: -48.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1338 America St	0.30mi	3/2.0 (+1)	1,164 (+9%)	1mo	$218,000	$187	65
1608 Calhoun St	0.39mi	3/2.0 (+1)	1,045 (-2%)	18mo	$225,000	$215	58
1320 America St	0.32mi	3/2.0 (+1)	1,165 (+9%)	15mo	$205,000	$176	52
1366 Valmont St	0.30mi	3/2.0 (+1)	1,154 (+8%)	19mo	$235,000	$204	52
1336 Valmont St	0.33mi	3/2.0 (+1)	1,202 (+12%)	9mo	$229,900	$191	52
1365 Chad St	0.30mi	3/2.0 (+1)	1,187 (+11%)	22mo	$225,000	$190	44

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 · 1.06% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.55×
• Total profit: $18,241
• Equity at exit: $17,818

10-year hold

• IRR: 21.3%
• Equity multiple: 2.64×
• Total profit: $54,990
• Equity at exit: $10,332

Cash invested: $33,460 (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 70448

• Rents YoY: 1.1%
• Active inventory: 260
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,838 high
• Mortgage (P&I): −$627
• Tax from tax record: −$130 /mo · $1,566/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $645

Break-even live

Break-even rent $1,021

Max offer price $119,500

Occupancy floor 60%

Sensitivity live

Price	-10% $713	-5% $679	+0% $645	+5% $612	+10% $578
Rent	-10% $500	-5% $573	+0% $645	+5% $718	+10% $791
Rate	-1.0pp $706	-0.5pp $676	base $645	+0.5pp $614	+1.0pp $583

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1819 Orleans St Mandeville, LA	3.0	2.0	1207	$1,895	$1.57	24d	1	0.22mi
1349 Clausel St Mandeville, LA	3.0	2.5	1300	$1,995	$1.53	4d	1	0.25mi
602 Foy St Mandeville, LA	3.0	2.0	1360	$2,500	$1.84	4d	1	0.51mi
1555 Marigny Ave Mandeville, LA	3.0	2.0	1375	$2,000	$1.45	44d	1	0.57mi
820 Lafitte St Unit 207 Mandeville, LA	2.0	2.0	1217	$1,675	$1.38	44d	1	0.61mi
2094 Woodrow St Mandeville, LA	1.0	1.5	1000	$1,500	$1.50	44d	1	0.66mi
818 Carroll St Mandeville, LA	2.0	2.5	1260	$1,950	$1.55	24d	1	0.70mi
2304 McNamara St Mandeville, LA	3.0	2.0	1404	$1,900	$1.35	17d	1	0.79mi
351 Jackson Ave Unit 3C Mandeville, LA	2.0	1.5	1000	$1,800	$1.80	24d	1	0.80mi
337 Reine St Mandeville, LA	2.0	2.0	1200	$1,700	$1.42	44d	1	0.84mi
418 Lafitte St Mandeville, LA	2.0	2.0	950	$2,650	$2.79	12d	1	0.87mi
2130 Jefferson St Mandeville, LA	2.0	1.0	1290	$1,800	$1.40	44d	1	1.03mi
425 Depre St Unit C Mandeville, LA	1.0	1.0	729	$1,300	$1.78	44d	1	1.04mi
518 Ramon St Mandeville, LA	3.0	2.5	1445	$1,550	$1.07	12d	1	1.18mi
102 Trace Loop Unit 1 Mandeville, LA	3.0	2.5	1400	$1,500	$1.07	44d	1	1.30mi
98 Trace Loop Unit 1 Mandeville, LA	3.0	2.5	1400	$1,500	$1.07	17d	1	1.31mi
104 Trace Loop Mandeville, LA	3.0	2.5	1400	$1,500	$1.07	44d	1	1.33mi
304 Teal Ct Mandeville, LA	2.0	2.0	1132	$1,425	$1.26	24d	1	1.38mi
309 Teal Ct Mandeville, LA	2.0	2.0	1132	$1,425	$1.26	44d	1	1.41mi

Listing history 49 events

1. 2026-06-18
   days on market $119,500 Active 206 DOM
2. 2026-06-17
   days on market $119,500 Active 205 DOM
3. 2026-06-16
   days on market $119,500 Active 204 DOM
4. 2026-06-15
   price $119,500 Active 203 DOM
5. 2026-06-15
   days on market $130,000 Active 203 DOM
6. 2026-06-13
   days on market $130,000 Active 201 DOM
7. 2026-06-10
   days on market $130,000 Active 198 DOM
8. 2026-06-09
   days on market $130,000 Active 197 DOM
9. 2026-06-08
   days on market $130,000 Active 196 DOM
10. 2026-06-07
    days on market $130,000 Active 195 DOM
11. 2026-06-03
    days on market $130,000 Active 191 DOM
12. 2026-06-02
    days on market $130,000 Active 190 DOM
13. 2026-06-01
    days on market $130,000 Active 189 DOM
14. 2026-05-31
    pricedays on market $130,000 Active 188 DOM
15. 2026-03-25
    price $155,000 253-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

16. 2026-03-25
    price $155,000 257-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

17. 2026-02-03
    price $165,000 253-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

18. 2026-02-03
    price $165,000 257-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

19. 2026-01-20
    price $170,000 253-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

20. 2026-01-20
    price $170,000 257-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

21. 2025-12-11
    price $175,000 253-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

22. 2025-12-11
    price $175,000 257-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

23. 2025-11-12
    listed $180,000 Active 253-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

24. 2025-11-12
    listed $180,000 Active 257-char remark

    Show marketing remark (257 chars)

    BRING YOUR OFFERS!! Mandeville Cottage ready for you to renovate in a GREAT location. Investors & Renovators- Roof - 2018, HVAC - 2021, Electrical Panel - 2022. Driveway and french drains just put in. Stainless Steel Appliances and W/ D all included!

25. 2023-07-06
    soldstatus $191,500 Closed
26. 2023-07-06
    soldstatus $191,500
27. 2023-06-05
    historical Active Under Contract
28. 2023-06-02
    price $198,500
29. 2023-05-10
    status Active
30. 2023-05-04
    historical Active Under Contract
31. 2023-04-27
    listed $204,900 Active
32. 2023-04-27
    listed $198,500
33. 2022-11-10
    price $154,900
34. 2022-10-21
    listed $154,900
35. 2022-04-20
    listed $187,000
36. 2013-11-13
    soldstatus $55,000
37. 2013-11-05
    soldstatus $55,000
38. 2013-07-26
    listed $65,000
39. 2013-07-26
    listed $65,000
40. 2012-11-14
    listed $69,000
41. 2012-11-14
    listed $69,000
42. 2012-03-02
    listed $85,000
43. 2012-03-02
    listed $85,000
44. 2010-04-14
    listed $80,000
45. 2010-04-14
    listed $80,000
46. 1998-06-25
    soldstatus $45,000
47. 1998-06-24
    soldstatus $45,000
48. 1998-05-28
    listed $45,000
49. 1998-05-28
    listed $45,000

ⓘ 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: $1,566 · $130/mo
• Projected year-2 tax: $1,566 · $130/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,062
• − Mortgage interest: −$6,694
• − Property taxes: −$1,566
• − Insurance: −$598
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$3,476
• Taxable income: $6,198
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $6,258/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 — Mandeville

• Score: 77/100
• State rank: #13
• US rank: #3224

Category grades

Amenities F Commute F Cost of living C 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: 50,537
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 26,338
• Household income: $95,682
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 320.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 9% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 16% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -113.97%
• Current HPI: 179.9084
• Rent YoY: ▲ 1.06%
• 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

+244.4% since first listed

35 events — show timeline

• 2026-03-25 Price Changed $155,000 AcadianaMLS
• 2026-03-25 Price Changed $155,000 GSREIN
• 2026-02-03 Price Changed $165,000 AcadianaMLS
• 2026-02-03 Price Changed $165,000 GSREIN
• 2026-01-20 Price Changed $170,000 AcadianaMLS
• 2026-01-20 Price Changed $170,000 GSREIN
• 2025-12-11 Price Changed $175,000 AcadianaMLS
• 2025-12-11 Price Changed $175,000 GSREIN
• 2025-11-12 Listed $180,000 GSREIN
• 2025-11-12 Listed $180,000 AcadianaMLS
• 2023-07-06 Sold (Public Records) $191,500 Public Records
• 2023-07-06 Sold (MLS) $191,500 GSREIN
• 2023-06-05 Contingent — GSREIN
• 2023-06-02 Price Changed $198,500 GSREIN
• 2023-05-10 Relisted — GSREIN
• 2023-05-04 Contingent — GSREIN
• 2023-04-27 Listed $198,500 AcadianaMLS
• 2023-04-27 Listed $204,900 GSREIN
• 2022-11-10 Price Changed $154,900 GSREIN
• 2022-10-21 Listed $154,900 AcadianaMLS
• 2022-04-20 Listed $187,000 AcadianaMLS
• 2013-11-13 Sold (Public Records) $55,000 Public Records
• 2013-11-05 Sold (MLS) $55,000 GSREIN
• 2013-07-26 Listed $65,000 AcadianaMLS
• 2013-07-26 Listed $65,000 GSREIN
• 2012-11-14 Listed $69,000 GSREIN
• 2012-11-14 Listed $69,000 AcadianaMLS
• 2012-03-02 Listed $85,000 GSREIN
• 2012-03-02 Listed $85,000 AcadianaMLS
• 2010-04-14 Listed $80,000 GSREIN
• 2010-04-14 Listed $80,000 AcadianaMLS
• 1998-06-25 Sold (Public Records) $45,000 Public Records
• 1998-06-24 Sold (MLS) $45,000 GSREIN
• 1998-05-28 Listed $45,000 AcadianaMLS
• 1998-05-28 Listed $45,000 GSREIN

Property tax history

+6.5%/yr

Latest (2025): $1,566 · -1.5% YoY. Source: county tax records.