Updated Four-Unit
For Sale
$349,000
612 Rue Saint Martin, Hammond, LA 70403
Four occupied two-bedroom units with individual utility metering and recent exterior improvements.
Property Size3,200 SF
Price / SF$109.06
Days on Market259
Property Features for 612 Rue Saint Martin
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Listing Agency:
Realty Executives Florida Parishes
(985) 320-0263
Listed By:
Sam DiVittorio · License #995688138
(985) 320-0263
Source:
Exprealty
Added: Dec 16, 2025
Changed: Aug 31
Last Checked: Aug 30 at 11:55PM
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 Realty Executives Florida Parishes
Investment Insights
Based on property information with market context.
This 3,200-square-foot quadplex contains four two-bedroom, one-bath units. All four apartments are occupied, and each residence has separate metering for utilities. Tenants are responsible for utility costs, while city garbage, sewer, and water services are available to the property. The exterior has been recently updated, with additional improvements completed inside some units.
The property is located at 612 Rue Saint Martin in Hammond, near SELU campus, downtown, shopping, restaurants, hospitals, and I-55. It is in Flood Zone X, and flood insurance is not required.
The property is located at 612 Rue Saint Martin in Hammond, near SELU campus, downtown, shopping, restaurants, hospitals, and I-55. It is in Flood Zone X, and flood insurance is not required.
Key Highlights
- Four 2 bed/1bth units within a 3,200‑square‑foot quadplex
- Property stays occupied across all four units
- Each unit is individually metered for all utilities
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
$24,066
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
6.90%
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%
$481,320
$481.3K
Cap Rate 7%
$343,800
$343.8K
Cap Rate 9%
$267,400
$267.4K
Market Conditions
NOI Build-Up for 3,200 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
$37.6K $11.76/SF
− Vacancy
−$3.3K −$1.02/SF
EGI
$34.4K $10.74/SF
− OpEx
−$10.3K −$3.22/SF
NOI
$24.1K $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%
$481,320
Cap Rate 7%
$343,800
Cap Rate 9%
$267,400
Alternative Uses
Best Use
Multifamily LT 5
$343.8K
$300.8K – $401.1K
NOI $24,066 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$298.9K
$261.6K – $348.8K
NOI $20,926 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$882.1K
$771.9K – $1.03M
NOI $61,749 @ 7.0% cap · market cap 17.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
743
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied two-bedroom units with individual utility metering and recent exterior improvements.
Where is this quadplex located?
The property is located at 612 Rue Saint Martin Hammond, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Four 2 bed/1bth units within a 3,200‑square‑foot quadplex; Property stays occupied across all four units; Each unit is individually metered for all utilities
