Duplex with Fenced
For Sale
$250,000
309 Hewitt Rd, Hammond, LA 70403
Two matching residences offer two bedrooms, one bathroom, and private fenced outdoor areas each.
Property Size2,006 SF
Price / SF$124.63
Days on Market15
Property Features for 309 Hewitt Rd
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,350
Amenities
fenced backyard
Building Details
Buildings
1
Listing Agency:
Property First Realty Group
(225) 270-6734
Listed By:
Jennifer Dipuma · License #0995697826
(225) 270-6734
Source:
Exprealty
Added: Jul 26
Changed: Aug 8
Last Checked: Aug 8 at 10:13AM
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 Property First Realty Group
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.
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 = 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
$15,087
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
6.03%
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%
$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
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
$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 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%
$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
NOI $15,087 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$187.4K
$164.0K – $218.6K
NOI $13,118 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$553.0K
$483.9K – $645.2K
NOI $38,709 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
709
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?
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
