Renovated
For Sale
$359,000
44347 Simpson Place, Hammond, LA 70403
Fully occupied property with updated interiors, porches, balconies, and wooded-area views.
Property Size3,800 SF
Price / SF$94.47
Days on Market685
Property Features for 44347 Simpson Place
General Information
Standard status
Active
Size
3,800 SF
Total Parking Spaces
8
Property subtype
Multifamily
Amenities
Power
Water
Sewer
8 Parking Spaces
Building Details
Year Built
1980
Listing Agency:
Keller Williams Realty Services
(985) 789-8717
Listed By:
Gregg Tepper · License #995700267
(985) 789-8717
Source:
Lacdb.resimplifi
Added: Oct 17, 2024
Changed: Aug 29
Last Checked: Aug 31 at 1:37PM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
The 3,800-square-foot quadplex, built in 1980, contains four occupied units and has undergone renovation. Unit interiors include granite countertops, stainless steel appliances, new HVAC systems, and tile flooring; one unit has vinyl plank flooring throughout. Each residence includes a porch and balcony with views of the wooded area.
Located at 44347 Simpson Place in Hammond, Louisiana, the property is within approximately 10 minutes of Southeastern University and downtown Hammond’s entertainment and recreational facilities. Ownership covers water, sewer, trash, and insurance, while tenants are responsible for electricity.
Located at 44347 Simpson Place in Hammond, Louisiana, the property is within approximately 10 minutes of Southeastern University and downtown Hammond’s entertainment and recreational facilities. Ownership covers water, sewer, trash, and insurance, while tenants are responsible for electricity.
Key Highlights
- Four occupied units in a 3,800‑square‑foot quadplex
- Renovated interiors with granite countertops, stainless steel appliances, and new HVAC systems
- Tile flooring throughout most units; one unit features vinyl plank flooring throughout
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
$28,579
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
7.96%
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%
$571,580
$571.6K
Cap Rate 7%
$408,271
$408.3K
Cap Rate 9%
$317,544
$317.5K
Market Conditions
NOI Build-Up for 3,800 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
$44.7K $11.76/SF
− Vacancy
−$3.9K −$1.02/SF
EGI
$40.8K $10.74/SF
− OpEx
−$12.2K −$3.22/SF
NOI
$28.6K $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%
$571,580
Cap Rate 7%
$408,271
Cap Rate 9%
$317,544
Alternative Uses
Best Use
Multifamily LT 5
$408.3K
$357.2K – $476.3K
NOI $28,579 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$355.0K
$310.6K – $414.2K
NOI $24,850 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.05M
$916.6K – $1.22M
NOI $73,327 @ 7.0% cap · market cap 20.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
130
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 - Fully occupied property with updated interiors, porches, balconies, and wooded-area views.
Where is this quadplex located?
The property is located at 44347 Simpson Place Hammond, LA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Four occupied units in a 3,800‑square‑foot quadplex; Renovated interiors with granite countertops, stainless steel appliances, and new HVAC systems; Tile flooring throughout most units; one unit features vinyl plank flooring throughout
