Updated 4-Unit Multifamily
For Sale
$285,000
44154 Simpson Pl, Hammond, LA 70403
Four updated residential units provide a consistent two-bedroom, one-bath layout near Southeastern University.
Property Size3,619 SF
Price / SF$78.75
Days on Market497
Property Features for 44154 Simpson Pl
General Information
Standard status
Active
Size
3,619 SF
Property subtype
Multifamily
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1983
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 29
Last Checked: Aug 31 at 1:19PM
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.
This multifamily property contains four residential units, each arranged with two bedrooms and one bathroom. The units have been updated, and the building provides 3,619 square feet of property area. Constructed in 1983, the asset offers a defined four-unit configuration at 44154 Simpson Pl in Hammond, Louisiana.
Southeastern University is within 15 minutes, while I-55 and other major thoroughfares provide access to the surrounding area. The property is one of four offerings on Simpson Pl identified in the listing information.
Southeastern University is within 15 minutes, while I-55 and other major thoroughfares provide access to the surrounding area. The property is one of four offerings on Simpson Pl identified in the listing information.
Key Highlights
- Four‑unit multifamily property
- Each unit includes 2 bedrooms and 1 bathroom
- Updated residential units
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
$23,666
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
8.30%
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%
$473,320
$473.3K
Cap Rate 7%
$338,086
$338.1K
Cap Rate 9%
$262,956
$263.0K
Market Conditions
NOI Build-Up for 3,619 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
$47.3K $13.08/SF
− Vacancy
−$4.3K −$1.19/SF
EGI
$43.0K $11.89/SF
− OpEx
−$19.4K −$5.35/SF
NOI
$23.7K $6.54/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$473,320
Cap Rate 7%
$338,086
Cap Rate 9%
$262,956
Alternative Uses
Best Use
Apartment 5plus
$338.1K
$295.8K – $394.4K
NOI $23,666 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$997.6K
$872.9K – $1.16M
NOI $69,834 @ 7.0% cap · market cap 24.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
80
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?
Multifamily property - Four updated residential units provide a consistent two-bedroom, one-bath layout near Southeastern University.
Where is this multifamily property located?
The property is located at 44154 Simpson Pl Hammond, LA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Four‑unit multifamily property; Each unit includes 2 bedrooms and 1 bathroom; Updated residential units
