Multifamily Property with Storage
For Sale
$519,900
44528 TIFFANY LYNN Court, Hammond, LA 70403
Multi-Family, Cottage, Hammond, LA
Property Size3,350 SF
Lot Size3.72 Acres
Price / SF$155.19
Days on Market97
Property Features for 44528 TIFFANY LYNN Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
Not a Subdivision
Lot features
1-5 Acres, Regular
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
Legal Description
3.63A IN SEC 20 T6SR8E B1010 P834
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2000
Floors in Building
1
Number of units
5
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Realty Executives Florida Parishes · Realty Executives International
(985) 956-7477
Listed By:
Sam DiVittorio · License #995688138
(985) 320-0263
Added: Jun 4
Changed: Sep 5
Last Checked: Sep 8 at 7:06AM
MLS# 2561190
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.
Investment Insights
Based on property information with market context.
This multifamily property includes five occupied rental units arranged as two duplexes and one single-family cottage. The site also contains a 4,080-square-foot storage building with 14-foot ceilings, a 60-by-100-foot dirt pad prepared for a slab, and an existing retention pond. Central heating and central air serve the residential improvements, with public water and shingle roofing noted in the property details.
The 3.72-acre tract is located at the end of Falcon Drive in Hammond, near East Highway 190. It sits beside the Piggly Wiggly parcel and behind a new industrial development, with the airport, I-12, and I-55 nearby. Available services include water, sewer, gas, power, garbage collection, and high-speed internet.
The 3.72-acre tract is located at the end of Falcon Drive in Hammond, near East Highway 190. It sits beside the Piggly Wiggly parcel and behind a new industrial development, with the airport, I-12, and I-55 nearby. Available services include water, sewer, gas, power, garbage collection, and high-speed internet.
Key Highlights
- Five occupied rental units consisting of two duplexes and one single‑family home
- 3.72‑acre property at the end of Falcon Drive in Hammond
- 4,080 SF storage building with 14' ceilings
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
$25,195
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
4.85%
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%
$503,900
$503.9K
Cap Rate 7%
$359,929
$359.9K
Cap Rate 9%
$279,944
$279.9K
Market Conditions
NOI Build-Up for 3,350 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
$39.4K $11.76/SF
− Vacancy
−$3.4K −$1.02/SF
EGI
$36.0K $10.74/SF
− OpEx
−$10.8K −$3.22/SF
NOI
$25.2K $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%
$503,900
Cap Rate 7%
$359,929
Cap Rate 9%
$279,944
Alternative Uses
Best Use
Multifamily LT 5
$359.9K
$314.9K – $419.9K
NOI $25,195 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$313.0K
$273.8K – $365.1K
NOI $21,907 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$923.5K
$808.1K – $1.08M
NOI $64,644 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
5
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
418
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 - Five occupied rental units are paired with a storage building, prepared pad, retention pond, and available city utilities.
Where is this multifamily property located?
The property is located at 44528 TIFFANY LYNN Court Hammond, LA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Five occupied rental units consisting of two duplexes and one single‑family home; 3.72‑acre property at the end of Falcon Drive in Hammond; 4,080 SF storage building with 14' ceilings
