Updated Quadplex with
For Sale
$385,000
12461 WARDLINE Road, Hammond, LA 70401
Multi-Family, Hammond, LA
Property Size3,579 SF
Lot Size0.55 Acres
Price / SF$107.57
Days on Market201
Property Features for 12461 WARDLINE Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Subdivision
Not a Subdivision
Lot features
Oversized
Standard status
Active
APN
05194709
Size
3,579 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Description
0.55A IN SEC 17 T6SR7E B664 P565 B705 P259 B759 P83 B759 P419 B967 P441 B1375 P22 B1390 P859 B1404 P740 B1618 P684
Legal Description
0.55A IN SEC 17 T6SR7E B664 P565 B705 P259 B759 P83 B759 P419 B967 P441 B1375 P22 B1390 P859 B1404 P740 B1618 P684
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
stove
refrigerator
microwave
dishwasher
inside laundry hookups
fenced rear patios
Building Details
Year built
1980
Floors in Building
1
Number of units
4
Roof type
Shingle, Asphalt
Listing Agency:
Realty One Group Immobilia
(985) 218-8081
Listed By:
KELLY RICHARDS · License #995695758
(985) 789-5256
Added: Feb 9
Changed: Aug 26
Last Checked: Aug 29 at 12:06AM
MLS# 2542144
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 3,579-square-foot quadplex, built in 1980, contains four two-bedroom, one-bath residences. The property has been updated, and each unit includes a stove, refrigerator, microwave, dishwasher, and hookups for an in-unit laundry setup. Three residences also feature fenced rear patios.
The 0.55-acre property is in Hammond, near a university, shopping, and hospitals. Off-street parking serves the building, while public water, central heating, and central air are in place. The roof is composed of shingle and asphalt materials. All four units are currently rented, and the property is located at 12461 Wardline Road in Hammond, Louisiana.
The 0.55-acre property is in Hammond, near a university, shopping, and hospitals. Off-street parking serves the building, while public water, central heating, and central air are in place. The roof is composed of shingle and asphalt materials. All four units are currently rented, and the property is located at 12461 Wardline Road in Hammond, Louisiana.
Key Highlights
- Four‑unit property with 3,579 square feet of building area
- Each unit includes 2 beds and 1 bath
- All units have a stove, refrigerator, microwave, and dishwasher
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
$26,917
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
6.99%
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%
$538,340
$538.3K
Cap Rate 7%
$384,529
$384.5K
Cap Rate 9%
$299,078
$299.1K
Market Conditions
NOI Build-Up for 3,579 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
$42.1K $11.76/SF
− Vacancy
−$3.6K −$1.02/SF
EGI
$38.5K $10.74/SF
− OpEx
−$11.5K −$3.22/SF
NOI
$26.9K $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%
$538,340
Cap Rate 7%
$384,529
Cap Rate 9%
$299,078
Alternative Uses
Best Use
Multifamily LT 5
$384.5K
$336.5K – $448.6K
NOI $26,917 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$334.3K
$292.6K – $390.1K
NOI $23,404 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$986.6K
$863.3K – $1.15M
NOI $69,062 @ 7.0% cap · market cap 17.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
50
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences include kitchen appliances, laundry hookups, central systems, and off-street parking.
Where is this quadplex located?
The property is located at 12461 WARDLINE Road Hammond, LA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Four‑unit property with 3,579 square feet of building area; Each unit includes 2 beds and 1 bath; All units have a stove, refrigerator, microwave, and dishwasher
