Single-Story
New
For Sale
$315,900
46507 FAYE Lane, Hammond, LA 70401
Multi-Family, Hammond, LA
Property Size2,447 SF
Lot Size0.21 Acres
Price / SF$129.10
Days on Market2
Property Features for 46507 FAYE Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
06553992
Size
2,447 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
0.21A Being Lot 8 of Survey of Sec 15 T6S R7E
Legal Description
0.21A Being Lot 8 of Survey of Sec 15 T6S R7E
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
1
Number of units
4
Roof type
Shingle
Listing Agency:
Elite Real Estate Advisors · Century 21 Real Estate
(985) 542-7601
Listed By:
Kristi Galofaro
(985) 750-5609
Added: Sep 16
Last Checked: Sep 17 at 10:06AM
MLS# 2577554
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 single-story quadplex contains four residential units within a 2,447-square-foot building constructed in 1981. Three apartments offer two bedrooms and one bathroom, while the fourth provides one bedroom and one bathroom. The property has central heating, central air conditioning, shingle roofing, public water service, and driveway parking.
The property is located at 46507 FAYE Lane in Hammond, Louisiana 70401, north of SELU and east of I-55. Its four-unit configuration provides a defined residential income format, with a mix of three two-bedroom units and one one-bedroom unit.
The property is located at 46507 FAYE Lane in Hammond, Louisiana 70401, north of SELU and east of I-55. Its four-unit configuration provides a defined residential income format, with a mix of three two-bedroom units and one one-bedroom unit.
Key Highlights
- Four‑unit quadplex with 2,447 square feet
- Three 2‑bedroom, 1‑bath units
- One 1‑bedroom, 1‑bath unit
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
$18,403
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
5.83%
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%
$368,060
$368.1K
Cap Rate 7%
$262,900
$262.9K
Cap Rate 9%
$204,478
$204.5K
Market Conditions
NOI Build-Up for 2,447 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
$28.8K $11.76/SF
− Vacancy
−$2.5K −$1.02/SF
EGI
$26.3K $10.74/SF
− OpEx
−$7.9K −$3.22/SF
NOI
$18.4K $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%
$368,060
Cap Rate 7%
$262,900
Cap Rate 9%
$204,478
Alternative Uses
Best Use
Multifamily LT 5
$262.9K
$230.0K – $306.7K
NOI $18,403 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$228.6K
$200.0K – $266.7K
NOI $16,002 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$674.6K
$590.2K – $787.0K
NOI $47,219 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 70401, LA
21,014
Population
10,321
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
88%
High-School Grad
34.7 sq mi
ZIP Area
606
Density / Sq Mi
$50,995
Median Household Income
$31,405
Median Earnings
$977
Median Rent
$226,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Four-unit residential income property with central heating, central air, and driveway parking.
Where is this quadplex located?
The property is located at 46507 FAYE Lane Hammond, LA.
What is the asking price?
The asking price for this property is $315,900.
What are key features of this property?
This property features: Four‑unit quadplex with 2,447 square feet; Three 2‑bedroom, 1‑bath units; One 1‑bedroom, 1‑bath unit
