Duplex Properties with Covered
New
For Sale
$120,000
611 E PARK Avenue, Hammond, LA 70403
Multi-Family, Traditional, Hammond, LA
Property Size864 SF
Lot Size0.26 Acres
Price / SF$138.89
Days on Market7
Property Features for 611 E PARK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Parking features
Carport
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Not a Subdivision
Lot features
Levee
Standard status
Active
APN
01292609
Size
864 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
75 X 150 FT THE E1/2 OF SE1/4 BLK 29 IOWA ADD TO HAMM B290 P87 B931 P825 B951 P729 B984 P709 B1117 P129 B1154 P230 B1180 P811 B1186 P897 B1247 P127 B1272 P541 B1722 P366
Legal Description
75 X 150 FT THE E1/2 OF SE1/4 BLK 29 IOWA ADD TO HAMM B290 P87 B931 P825 B951 P729 B984 P709 B1117 P129 B1154 P230 B1180 P811 B1186 P897 B1247 P127 B1272 P541 B1722 P366
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #000073679
(985) 237-0712
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 20 at 4:06PM
MLS# 2572077
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 duplex offering includes two residential properties being conveyed together, with a combined property size of 864 square feet and a 0.2583-acre site. The interiors include living areas, kitchens with cabinet and counter space, double-basin sinks, and multiple bathrooms with tub and shower combinations. Porches and a covered patio provide additional exterior areas, while mature trees and grassy yard sections frame the grounds.
Built in 1959, the property has central heating and central air, a shingle roof, public water service, and carport parking. The buildings require repairs and updating, allowing the next owner to address the existing condition and revise the spaces. The property is located in Hammond, Louisiana, in Tangipahoa Parish.
Built in 1959, the property has central heating and central air, a shingle roof, public water service, and carport parking. The buildings require repairs and updating, allowing the next owner to address the existing condition and revise the spaces. The property is located in Hammond, Louisiana, in Tangipahoa Parish.
Key Highlights
- Duplex classification with two properties offered together
- 864 square feet of property size on a 0.2583‑acre lot
- Built in 1959 with central heating and central air
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
$6,498
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
5.42%
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%
$129,960
$130.0K
Cap Rate 7%
$92,829
$92.8K
Cap Rate 9%
$72,200
$72.2K
Market Conditions
NOI Build-Up for 864 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
$10.2K $11.76/SF
− Vacancy
−$878 −$1.02/SF
EGI
$9.3K $10.74/SF
− OpEx
−$2.8K −$3.22/SF
NOI
$6.5K $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%
$129,960
Cap Rate 7%
$92,829
Cap Rate 9%
$72,200
Alternative Uses
Best Use
Multifamily LT 5
$92.8K
$81.2K – $108.3K
NOI $6,498 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$80.7K
$70.6K – $94.2K
NOI $5,650 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$238.2K
$208.4K – $277.9K
NOI $16,672 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
965
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?
Duplex - Two residential properties offered together with central HVAC, carport parking, and outdoor porch areas.
Where is this duplex located?
The property is located at 611 E PARK Avenue Hammond, LA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Duplex classification with two properties offered together; 864 square feet of property size on a 0.2583‑acre lot; Built in 1959 with central heating and central air
