Hammond Multi-Family Investment
For Sale
$1,192,000
100 SHERWOOD Drive, Hammond, LA 70401
Multi-Family, Ranch, Hammond, LA
Property Size10,611 SF
Lot Size1.00 Acre
Price / SF$112.34
Days on Market407
Property Features for 100 SHERWOOD Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Parking features
Carport
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
3273504
Size
10,611 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
LOTS 1-10 and 12-15 SHERWOOD DRIVE SUB IN SEC 23 T6SR7E HAMMOND
Legal Description
LOTS 1-10 and 12-15 SHERWOOD DRIVE SUB IN SEC 23 T6SR7E HAMMOND
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
9
Architectural style
Ranch
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Bart Gillis
(985) 727-7000
Added: Jul 15, 2025
Changed: Aug 19
Last Checked: Aug 25 at 11:06AM
MLS# 2512088
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.
Investment Insights
Based on property information with market context.
This offering features nine single-family homes and approximately one acre of land available for development, situated just outside downtown Hammond in a pleasant area. The properties include all but one home on the entire street. These well-maintained, brick ranch-style homes feature low-maintenance brick veneer construction, central air/heat, and spacious lots. The current annual revenue is $111,300. Area rents suggest a potential market rent of $1350 or more per house per month, which could generate an annual revenue of $144,800. The RM-2 zoning allows for 2-family housing, if desired. The property size is 10,611 square feet.
Key Highlights
- 9 single‑family homes plus 1 acre of land for development.
- Potential for increased rental income: Currently under‑rented with market rents estimated at $1350/month per house.
- Low‑maintenance brick ranch style homes with central air/heat.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,389
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,387,780
$1.4M
Cap Rate 7%
$991,271
$991.3K
Cap Rate 9%
$770,989
$771.0K
Market Conditions
NOI Build-Up for 10,611 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.8K $13.08/SF
− Vacancy
−$12.6K −$1.19/SF
EGI
$126.2K $11.89/SF
− OpEx
−$56.8K −$5.35/SF
NOI
$69.4K $6.54/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,387,780
Cap Rate 7%
$991,271
Cap Rate 9%
$770,989
Alternative Uses
Best Use
Apartment 5plus
$991.3K
$867.4K – $1.16M
NOI $69,389 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,756 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 70401, LA
21,014
Population
10,321
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
88%
High-School Grad
34.7 sq mi
ZIP Area
606
Density / Sq Mi
$50,995
Median Household Income
$31,405
Median Earnings
$977
Median Rent
$226,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Nine single-family homes plus land near downtown Hammond, Louisiana.
Where is this single family property located?
The property is located at 100 SHERWOOD Drive Hammond, LA.
What is the asking price?
The asking price for this property is $1,192,000.
What are key features of this property?
This property features: 9 single‑family homes plus 1 acre of land for development.; Potential for increased rental income: Currently under‑rented with market rents estimated at $1350/month per house.; Low‑maintenance brick ranch style homes with central air/heat.
