Overview

Description

Visit www.SFRhub.com and search for portfolio 100299 for more information. 


TOM JOHNSTON
Managing Director | Designated Broker
SVN | SFRhub Marketplace
T: 602.441.5354
C: 602.403.3695
tom.johnston@svn.com
License #: BR507919000

BOR:

Chris Town

NAI Latter & Blum

Commercial Sales & Leasing

100% Occupied! Motivated Seller!

This 5-home single-family residential investment portfolio in Slidell, LA is located a short distance from New Orleans, LA. Located on the northeast shore of Lake Pontchartrain, the greater Slidell area had an estimated population of about 28,658, according to the United States Census Bureau. The portfolio is comprised of properties located in Slidell and Chalmette.

This portfolio offers an investor immediate cash flow in the Slidell market with 100% occupancy. This portfolio can be packaged for an investor with any of our other portfolios in Louisiana, as well as throughout the country. The average year-built of homes in this portfolio is 1997, with an average of 1,513 square feet per home. Rental rates throughout the portfolio are on average $2,090 a month, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors’ bottom line over the years.

This 5-home SFR investment portfolio is listed at only $125 per square foot, compared to Slidell’s median sales price of $142 per square foot in the Slidell market. The Slidell market is also at a median sales price of $215,821 per home, which is much higher than the asking price of this portfolio of $189,578 per home. Slidell home values are currently up 6.8% since last year.

On the northeast shore of Lake Pontchartrain on St. Tammany Parish, in the southeast state of Louisiana, is the City of Slidell. It is a part of the New Orleans-Metairie-Kenner Metropolitan Statistical Area (MSA), with downtown New Orleans, just over thirty miles across Lake Pontchartrain. Slidell had an estimated population of 27,633 people as of 2019 according to the U.S. Census Bureau while the New Orleans Metropolitan area had an estimated population of 1,270,530.

The region was initially developed by France and Spain during the colonial era, a time that lingers into modern-day New Orleans culture and architecture. The word “Parish” for example, is essentially the equivalent of a county and is tied to the strong catholic influence of the French & Spanish. The New Orleans MSA experienced a steep population decline after Hurricane Katrina in 2005. The region is still recovering over fifteen years later, while many of the tourist areas such as the French Quarter have recovered, there are still neighborhoods just a short ride from the city that is just gone.

Economically, the Greater New Orleans area is one of the largest commercial hubs for the state of Louisiana and borders the second largest economically important area, Greater Baton Rouge. Greater New Orleans is home to one of the busiest ports in the world and serves as the headquarters to businesses like Globestar, Textron Receivables Exchange, Tidewater Marine, Intralox, and Entergy; a Fortune 500 Company. The New Orleans area has approximately 88% of the nation's oil rigs off its coast and is in the top three MSAs in the country in oil and gas production. The city boasts a civilian labor force of over 650,000 as well as thriving film, technology, and healthcare industries. Over 65,000 students are currently enrolled in the region's nine universities and eight community/technical colleges.

The Greater New Orleans economy is currently benefiting from expansions in the health care sector and the National World War II Museum, as well as airport construction. Home to some of Louisiana's most-visited tourist destinations, with attractions like the world-renowned French Quarter to St. Charles Avenue to Magazine Street. Near the French Quarter is the Tremé community, which contains the New Orleans Jazz National Historical Park and the New Orleans African American Museum—a site that is listed on the Louisiana African American Heritage Trail. Tourists spent over $10.05 billion in 2019. New Orleans is world-renowned for its distinct music, Creole cuisine, unique dialect, and its annual celebrations and festivals like Mardi Gras.

Highlights

• PRICE REDUCED, MOTIVATED SELLER!
• For more information visit www.SFRhub.com and search for portfolio 100299
• Solid pro forma net cap rate of 9.20%
• Pro forma net operating income of $87,204
• 100% Occupied! Motivated Seller
• The market price of homes in this portfolio is 21% higher than the asking price
• Single-family rent in Slidell is up 12% year over year according to Zumper.com
• The single-family home occupancy rate in New Orleans is 91.4%
• Projected year 1 model 3% rent increase for Slidell
• YOY Predicted HPA for Slidell in 2021 is 7.33%
• Slidell’s latest annual appreciation rate is higher than 80% of the other cities and towns in Louisiana
• The average days on the market for Single Family Homes is only 7 days because of the extremely low supply
• Renters make up 32.5% of the Slidell single-family housing
• Recent job growth is Positive as Slidell jobs have increased by 1.4%
• All SVN® Offices Independently Owned & Operated
• Local Broker License Information: www.SFRhub.com/realestatelicensing

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