Updated 4-Unit
For Sale
$300,000
44301 Simpson Pl, Hammond, LA 70403
Renovated multifamily property with a balanced mix of two- and three-bedroom residences.
Property Size3,600 SF
Price / SF$83.33
Days on Market494
Property Features for 44301 Simpson Pl
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multifamily
Building Details
Year Built
1984
Listing Agency:
MS Realty, LLC
(504) 655-7940
Listed By:
Stephanie Morris · License #995694030
(504) 655-7940
Source:
Lacdb.resimplifi
Added: Apr 23, 2025
Changed: Aug 28
Last Checked: Aug 29 at 5:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MS Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1984, this 3,600-square-foot quadplex contains four residential units: two with two bedrooms and one bathroom, plus two with three bedrooms and one bathroom. The apartments have been updated, providing a refreshed configuration across the building.
The property is located in Hammond, Louisiana, within 15 minutes of Southeastern University. Access to I-55 and other major thoroughfares supports connectivity throughout the surrounding area.
The property is located in Hammond, Louisiana, within 15 minutes of Southeastern University. Access to I-55 and other major thoroughfares supports connectivity throughout the surrounding area.
Key Highlights
- Four‑unit quadplex with 3,600 SF of total property size
- Unit mix includes two 2‑bedroom/1‑bath residences and two 3‑bedroom/1‑bath residences
- Updated apartments in a building constructed in 1984
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
$27,075
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
9.03%
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%
$541,500
$541.5K
Cap Rate 7%
$386,786
$386.8K
Cap Rate 9%
$300,833
$300.8K
Market Conditions
NOI Build-Up for 3,600 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
$42.3K $11.76/SF
− Vacancy
−$3.7K −$1.02/SF
EGI
$38.7K $10.74/SF
− OpEx
−$11.6K −$3.22/SF
NOI
$27.1K $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%
$541,500
Cap Rate 7%
$386,786
Cap Rate 9%
$300,833
Alternative Uses
Best Use
Multifamily LT 5
$386.8K
$338.4K – $451.3K
NOI $27,075 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$336.3K
$294.3K – $392.4K
NOI $23,542 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$992.4K
$868.4K – $1.16M
NOI $69,468 @ 7.0% cap · market cap 23.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
102
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?
Quadplex - Renovated multifamily property with a balanced mix of two- and three-bedroom residences.
Where is this quadplex located?
The property is located at 44301 Simpson Pl Hammond, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,600 SF of total property size; Unit mix includes two 2‑bedroom/1‑bath residences and two 3‑bedroom/1‑bath residences; Updated apartments in a building constructed in 1984
