Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    LOT 193 THREE RIVERS Road Covington, LA 70433

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $86,000

    LAND - Covington, LA

    Lot size:
    0.47 Acres
    Added:
    Mar 7, 2024
    Days on Market:
    778
    Last Refresh:
    Apr 24 at 2:06 pm

    Property Features for LOT 193 THREE RIVERS Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    res
    Standard status
    Active
    APN
    24400
    Lot size
    0.47 Acres

    Taxes and HOA fees

    Tax Description
    LOT 193 LAZY RIVER ESTATES SEC A CB 920 540 INST NO 991790 INST NO 1523471

    We can help!

    Listing Contact
    Jennifer Rice
    Jennifer Rice

    Listing agent Jennifer Rice License #000014564

    Listing office Berkshire Hathaway HomeServices Preferred, REALTOR 1121 N Causeway Blvd, New Orleans, LA

    Listing date Mar 7, 2024

    MLS# 2437653 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Waterfront Lot in Covington, LA

    This is a 0.47-acre waterfront lot located in Covington, Louisiana. The property is situated on the Dorothy Waterway, which is navigable to the Tchefuncte River and Lake Pontchartrain. The lot is shaded and offers an opportunity to build a home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Dental Office Department Store Accounting Firm (Bike/Boat/Book/etc) Store Coworking & Hybrid Office Tanning Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Covington
    County
    St. Tammany
    State
    Louisiana
    Longitude
    -90.111123
    Latitude
    30.433811

    Nearby Similar for Sale

    • $670,000
      6,000 SF

      Tenant Occupied Office Building

      Tenant occupied office building with lease in place through 2028.
      20081 HIGHWAY 36, Covington, LA 70433
      View Details
    • $65,000

      Covington Commercial Lot Near Trail

      Corner commercial lot near Tammany Trace Bike & Walking Trail.
      W 26TH Avenue lot: 5A, Covington, LA 70433
      View Details
    • $225,000
      1,700 SF

      Covington Commercial Land For Sale

      Commercial land with potential for renovation in Covington, Louisiana.
      75060 HIGHWAY 25, Covington, LA 70435
      View Details
    • $250,000
      1,152 SF

      Covington Mixed-Use Potential

      Charming property with residential and commercial potential in Covington.
      822 W 21ST Avenue, Covington, LA 70433
      View Details
    • $60,000

      Two Lots in Covington, LA

      Two Covington lots: cleared front, wooded back, potential street access.
      HELENBIRG Road lot: 56A, Covington, LA 70433
      View Details
    • $149,000

      Land in Old Covington

      Vacant land in prime location ready for your dream home.
      415 W 25TH Avenue lot: 8, Covington, LA 70433
      View Details
    • $100,000

      Cleared Lot in Normand Oaks

      Vacant land in Covington's desirable Normand Oaks subdivision.
      15168 ARLEEN NORMAND Drive lot: 41, Covington, LA 70435
      View Details
    • $389,000
      4,000 SF

      Turn Key Restaurant Opportunity

      4,000 SF restaurant with indoor and outdoor seating.
      1204 W 21st Avenue, Covington, LA 70433
      View Details
    • $120,000

      Vacant Land in Lake Ramsey

      Residential land with lake views in Covington, Louisiana.
      740 NORTHLAKE Drive lot: 16, Covington, LA 70435
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Waterfront lot on Dorothy Waterway, navigable to Lake Pontchartrain.
    Where is this waterfront land located?
    The property is located at LOT 193 THREE RIVERS Road Covington, LA.
    What is the asking price?
    The asking price for this property is $86,000.
    What are key features of this property?
    This property features: Waterfront lot on Dorothy Waterway, navigable to Tchefuncte River/Lake Pontchartrain.; .25 acre lot size.; Shaded lot.
    (504) 799-1702
    We can help!
    Listing Contact
    Jennifer Rice
    Jennifer Rice
    Real Estate License ID: 000014564
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!