Building Details

Buildings 1

Listing Agency: Property First Realty Group

Listed By: Jennifer Dipuma · License #0995697826 Show Phone

Source: Larry.agent225

Added: Aug 7 Changed: Sep 10 Last Checked: Oct 7 at 1:50PM

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Investment Insights

Based on property information with market context.

This duplex at 309 Hewitt Rd in Hammond contains two matching residences within a 2,006-square-foot property. Each unit measures approximately 806 square feet and includes two bedrooms and one bathroom. Full privacy wood fencing encloses the backyards, providing defined outdoor areas for each residence.

The property is located minutes from Southeastern Louisiana University and North Oaks Hospital, with shopping, dining, and daily conveniences nearby. Its two-unit configuration and individual residential layouts provide a straightforward multifamily format in Hammond.

Key Highlights

• Two‑unit duplex at 309 Hewitt Rd, Hammond, LA
• 2,006‑square‑foot property with two identical units
• Each unit offers approximately 806 square feet, two bedrooms, and one bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,087

Cap Rate

6.03%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $15,087 @ 7.0% cap · market cap 6.03%

Second Best

Apartment 5plus

$187.4K

$164.0K – $218.6K (±1% cap)

NOI $13,118 @ 7.0% cap · market cap 5.25%

Theoretical Best

Office A

$553.0K

$483.9K – $645.2K (±1% cap)

NOI $38,709 @ 7.0% cap · market cap 15.48%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply HVAC Service Auto Parts Store Plumbing Service Garden Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

701

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two matching residences offer two bedrooms, one bathroom, and private fenced outdoor areas each.

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: Two‑unit duplex at 309 Hewitt Rd, Hammond, LA; 2,006‑square‑foot property with two identical units; Each unit offers approximately 806 square feet, two bedrooms, and one bathroom