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    Multifamily Income Property with Storage Title is generated by Realmo AI

    44528 TIFFANY LYNN Court, Hammond, LA 70403

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    Claim this Listing
    New
    For Sale
    $580,000

    COMMERCIAL - Hammond, LA

    Property size:
    3,350 SF
    Lot size:
    3.72 Acres
    Price / SF:
    $173/SF
    Added:
    May 29, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 44528 TIFFANY LYNN Court

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    RC
    Parking features
    Driveway
    Standard status
    Active
    APN
    6175031
    Size
    3,350 SF
    Lot size
    3.72 Acres

    Taxes and HOA fees

    Tax Description
    3.63A IN SEC 20 T6SR8E B1010 P834

    Utilities

    Water source
    Public

    Building Details

    Year built
    2000
    Floors in Building
    1

    We can help!

    Listing Contact
    Sam DiVittorio
    Sam DiVittorio

    Listing agent Sam DiVittorio License #995688138

    Listing office Realty Executives Florida Parishes 200 E Charles St., Hammond, LA

    Listing date May 29, 2026

    MLS# 2560316

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Nearly 4‑acre east Hammond site on Falcon Drive, located just off East Highway 190
    • 5 income‑producing rental units: 2 duplexes plus 1 single‑family home, 100% occupied generating approx. $50,000 annually
    • Includes a 4,080 SF storage building with 14' ceilings
    • 60x100 dirt pad ready for a slab for future development or expansion
    • All city utilities available: water, sewer, gas, power, garbage service, and high‑speed internet
    • Retention pond already in place

    Overview

    This for-sale multifamily income property is set on 3.72 acres and includes five income-producing rental units: two duplexes and one single-family home. The units are currently 100% occupied. In addition to the housing, the property features a 4,080 SF storage building with 14' ceilings and a 60x100 dirt pad that is described as ready for a slab, supporting continued development or expanded operational needs.

    Located on the east side of Hammond, the property is conveniently accessed just off East Highway 190 on Falcon Drive. It is positioned at the end of the road behind a newer industrial development, with the Piggly Wiggly parcel noted nearby. A retention pond is already in place on site, and the property is served by city utilities, including water, sewer, gas, power, garbage service, and high-speed internet.

    For buyers and operators, the combination of fully occupied rental units and substantial auxiliary improvements offers a practical platform for income-producing residential use alongside storage and potential site development. The RC zoning designation provides a framework for evaluating further industrial, commercial, or expansion concepts consistent with local regulations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Hammond
    County
    Tangipahoa
    State
    Louisiana
    Longitude
    -90.4835
    Latitude
    30.4809

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    FAQs

    What type of property is this?
    Apartment building - 5 rental units plus a sizable storage building and dirt pad on 3.72 acres with city utilities available.
    Where is this apartment building located?
    The property is located at 44528 TIFFANY LYNN Court Hammond, LA.
    What is the asking price?
    The asking price for this property is $580,000.
    What are key features of this property?
    This property features: Nearly 4‑acre east Hammond site on Falcon Drive, located just off East Highway 190; 5 income‑producing rental units: 2 duplexes plus 1 single‑family home, 100% occupied generating approx. $50,000 annually; Includes a 4,080 SF storage building with 14' ceilings
    (985) 956-7477
    We can help!
    Listing Contact
    Sam DiVittorio
    Sam DiVittorio
    Real Estate License ID: 995688138
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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