Two-Unit Duplex Investment
For Sale
$250,000
309 Hewitt Rd, Hammond, LA 70403
MULTI_FAMILY - Hammond, LA
Property Size2,006 SF
Lot Size0.16 Acres
Price / SF$124.63
Days on Market15
Property Features for 309 Hewitt Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Covered, Carport
Patio and Porch features
Patio
Interior features
Storage in Building, Electric Stove Con.
Exterior features
Lighting
Fencing
Privacy
Appliances
Washer/Dryer All, Electric Cooktop, Range/Oven, Refrigerator
Subdivision
Not A Subdivision
Elementary school district
Tangipahoa Parish
Middle school district
Tangipahoa Parish
High school district
Tangipahoa Parish
Directions
Take I-12 to exit 40 for US-51 toward Hammond/Ponchatoula, at the traffic circle, take the 3rd exit onto US-51, turn left onto Hewitt Rd, property will be on the left.
Standard status
Active
Size
2,006 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
0.16A IN SEC 36 T6SR7E HAMMOND B592 P286 B624 P823 B641 P759 B644 P280 B754 P200 B782 P682-684 B823 P517 B950 P738 B1652 P141 B1668 P144 B1670 P558
Legal Description
0.16A IN SEC 36 T6SR7E HAMMOND B592 P286 B624 P823 B641 P759 B644 P280 B754 P200 B782 P682-684 B823 P517 B950 P738 B1652 P141 B1668 P144 B1670 P558
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
full privacy wooden fences
Building Details
Floors in Building
1
Flooring type
Tile
Building materials
Brick Siding, Wood Siding, Frame
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Property First Realty Group
(225) 443-0055
Listed By:
Jennifer Dipuma · License #0995697826
(225) 443-0055
Added: Jul 26
Changed: Jul 27
Last Checked: Aug 9 at 5:06AM
MLS# 2026013662
Copyright © 2026 Greater Baton Rouge 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 well-maintained duplex offers two identical residential units. Each unit includes two bedrooms and one bathroom, with approximately 806 square feet of living space. Both units feature full privacy wooden fences in the backyard.
The property is located at 309 Hewitt Rd in Hammond, Louisiana. It is described as being just minutes from Southeastern Louisiana University, North Oaks Hospital, and local shopping and dining.
Unit B is currently vacant and listed for rent, while the other unit is leased, providing existing income per the listing remarks.
The property is located at 309 Hewitt Rd in Hammond, Louisiana. It is described as being just minutes from Southeastern Louisiana University, North Oaks Hospital, and local shopping and dining.
Unit B is currently vacant and listed for rent, while the other unit is leased, providing existing income per the listing remarks.
Key Highlights
- Income‑producing duplex at 309 Hewitt Road, Hammond with 2 identical units
- Each unit offers 2 bedrooms, 1 bathroom, and approximately 806 SF of living space
- Currently leased for $1,350 per month; Unit B is listed active for rent and currently vacant
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
$15,087
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
6.03%
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%
$301,740
$301.7K
Cap Rate 7%
$215,529
$215.5K
Cap Rate 9%
$167,633
$167.6K
Market Conditions
NOI Build-Up for 2,006 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
$23.6K $11.76/SF
− Vacancy
−$2.0K −$1.02/SF
EGI
$21.6K $10.74/SF
− OpEx
−$6.5K −$3.22/SF
NOI
$15.1K $7.52/SF
Area
Tangipahoa County, LA
Vacancy
8.64%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
30.00%
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%
$301,740
Cap Rate 7%
$215,529
Cap Rate 9%
$167,633
Alternative Uses
Best Use
Multifamily LT 5
$215.5K
$188.6K – $251.5K
NOI $15,087 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$187.4K
$164.0K – $218.6K
NOI $13,118 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$553.0K
$483.9K – $645.2K
NOI $38,709 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 70403, LA
29,737
Population
13,577
Households
2.2
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
42.3 sq mi
ZIP Area
703
Density / Sq Mi
$50,547
Median Household Income
$32,603
Median Earnings
$992
Median Rent
$207,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two identical two-bedroom, one-bath units, each with private fenced backyards.
Where is this duplex located?
The property is located at 309 Hewitt Rd Hammond, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Income‑producing duplex at 309 Hewitt Road, Hammond with 2 identical units; Each unit offers 2 bedrooms, 1 bathroom, and approximately 806 SF of living space; Currently leased for $1,350 per month; Unit B is listed active for rent and currently vacant
