Single-Story
For Sale
$315,900
46507 Faye Ln, Hammond, LA 70401
Four-unit residential income property with three two-bedroom apartments and one one-bedroom apartment.
Property Size2,447 SF
Price / SF$129.10
Days on Market9
Property Features for 46507 Faye Ln
General Information
Standard status
Active
Size
2,447 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Building Details
Buildings
1
Stories
1
Listing Agency:
Elite Real Estate Advisors
(985) 542-7601
Listed By:
Kristi Galofaro
(985) 750-5609
Source:
Exprealty
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 24 at 1:10PM
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 Elite Real Estate Advisors
Investment Insights
Based on property information with market context.
This single-story quadplex contains four residential units totaling 2,447 square feet. Three apartments are configured with two bedrooms and one bathroom each, while the remaining unit offers one bedroom and one bathroom. The building provides a varied unit mix within one multifamily property.
The property is located at 46507 Faye Ln in Hammond, north of SELU and east of I-55.
The property is located at 46507 Faye Ln in Hammond, north of SELU and east of I-55.
Key Highlights
- Four‑unit single‑story building
- 2,447 square feet of total property size
- Three 2‑bedroom, 1‑bath units
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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Open Analytics
Current Use
Lease Details
4
Residential units
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with three two-bedroom apartments and one one-bedroom apartment.
Where is this quadplex located?
The property is located at 46507 Faye Ln 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 single‑story building; 2,447 square feet of total property size; Three 2‑bedroom, 1‑bath units
