Updated Four-Unit Apartment
For Sale
$300,000
44321 Simpson Pl, Hammond, LA 70403
Updated apartments feature a mix of two- and three-bedroom layouts.
Property Size3,634 SF
Price / SF$82.55
Days on Market497
Property Features for 44321 Simpson Pl
General Information
Standard status
Active
Size
3,634 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Buildings
1
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 1:04PM
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 3,634-square-foot quadplex, built in 1984, contains four updated apartments. The unit mix includes two three-bedroom, one-bath residences and two two-bedroom, one-bath residences, providing a clearly defined configuration within the building.
Located at 44321 Simpson Pl in Hammond, the property is within 15 minutes of Southeastern University and minutes from I-55 and other major thoroughfares. The combination of updated interiors, varied unit layouts, and convenient access defines the property’s current profile.
Located at 44321 Simpson Pl in Hammond, the property is within 15 minutes of Southeastern University and minutes from I-55 and other major thoroughfares. The combination of updated interiors, varied unit layouts, and convenient access defines the property’s current profile.
Key Highlights
- Four‑unit quadplex with 3,634 square feet
- Unit mix includes two 3‑bedroom, 1‑bath and two 2‑bedroom, 1‑bath apartments
- Updated apartment interiors
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
$27,330
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
9.11%
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%
$546,600
$546.6K
Cap Rate 7%
$390,429
$390.4K
Cap Rate 9%
$303,667
$303.7K
Market Conditions
NOI Build-Up for 3,634 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
$42.7K $11.76/SF
− Vacancy
−$3.7K −$1.02/SF
EGI
$39.0K $10.74/SF
− OpEx
−$11.7K −$3.22/SF
NOI
$27.3K $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%
$546,600
Cap Rate 7%
$390,429
Cap Rate 9%
$303,667
Alternative Uses
Best Use
Multifamily LT 5
$390.4K
$341.6K – $455.5K
NOI $27,330 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$339.5K
$297.1K – $396.1K
NOI $23,764 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$1.00M
$876.6K – $1.17M
NOI $70,124 @ 7.0% cap · market cap 23.37%
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
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 - Updated apartments feature a mix of two- and three-bedroom layouts.
Where is this quadplex located?
The property is located at 44321 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 3,634 square feet; Unit mix includes two 3‑bedroom, 1‑bath and two 2‑bedroom, 1‑bath apartments; Updated apartment interiors
