70046 4th Street St, Covington, LA 70433 (MLS # NO2548681)

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PRICE $2,260,000 SIZE 19,468 sqft LOT SIZE 1.62 ac Request More Info Schedule a Showing

Offered at $2,260,000, this 11-property single-family rental portfolio is a stabilized income investment in Covington, Louisiana, one of the most sought-after residential markets on the Northshore of Lake Pontchartrain. All 11 homes are 3 bedroom, 2 bathroom properties ranging from 1,330 to 1,554 square feet and were built between 2003 and 2016. All 11 properties are located within the same neighborhood, offering an investor operational efficiency PLUS a proven rental track record. Over the last two years, the portfolio generated an NOI of approximately $150,000 to $160,000. It is priced at a 7% cap rate based on the 2025 NOI with gross rents totaling $230,000+. Tenants are long-term and stable, keeping vacancy and turnover costs low and providing reliable cash flow from acquisition. Individual property values are estimated between $210,000 and $240,000. Located in St. Tammany Parish, the portfolio sits within one of Louisiana's strongest demographic and economic submarkets, a market with a 2024 population over 278,000, median household income of nearly $80,000, and consistent annual growth across population, households, and income. Covington serves as the parish's corporate hub, home to Fortune 500 companies and anchored by major healthcare employers including St. Tammany Parish Hospital and Ochsner Medical Center. With top-rated public and private schools, low crime, and easy access to New Orleans via the Causeway, the Northshore consistently attracts quality, long-term residents, making it a highly reliable rental market for this portfolio's continued performance.

The data relating to real estate for sale on this web site comes in part from the IDX Program of the Realtor® Association of Acadiana’ MLS. Real Estate listings held by brokerage firms other than Dwight Andrus Real Estate Agency, LLC are marked with the MLS approved icon for IDX (a little black house).
IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.

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This IDX solution is (c) Diverse Solutions 2026.