Quadplex with Updated
For Sale
$349,000
612 RUE ST MARTIN, Hammond, LA 70403
Multi-Family, Traditional, Hammond, LA
Property Size3,200 SF
Lot Size0.01 Acres
Price / SF$109.06
Days on Market268
Property Features for 612 RUE ST MARTIN
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Balcony, Fence, Porch
Fencing
Fenced
Subdivision
Villa West
Lot features
Condo, Regular
Standard status
Active
APN
4818709
Size
3,200 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Description
UNIT A-2-D OF COURTYARD VILLA CONDOMINIUM & UNDIV 4.167% INT IN COMMON AREA IN SEC 27 T6SR7E HAMM
Legal Description
UNIT A-2-D OF COURTYARD VILLA CONDOMINIUM & UNDIV 4.167% INT IN COMMON AREA IN SEC 27 T6SR7E HAMM
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
2
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty Executives Florida Parishes · Realty Executives International
(985) 956-7477
Listed By:
Sam DiVittorio · License #995688138
(985) 320-0263
Added: Dec 16, 2025
Changed: Sep 1
Last Checked: Sep 10 at 4:06AM
MLS# 2534841
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 3,200-square-foot quadplex contains four two-bedroom, one-bath units, with occupancy reported across the property. Each unit has separate metering for all utilities, while tenants pay their own utility costs. Public water, sewer, and city garbage service are provided. The exterior was recently updated, with additional interior improvements completed in select areas. Central heating and central air serve the units, and the property includes porches, balconies, fencing, off-street parking, and a shingle roof. Built in 1983, the property is classified as Flood Zone X, with no flood insurance required according to the provided information.
The property is located in Hammond near Southeastern Louisiana University, downtown, shopping, restaurants, hospitals, and I-55. Its location places multiple daily-service and employment destinations within a short drive, while the four-unit configuration provides a defined multifamily layout.
The property is located in Hammond near Southeastern Louisiana University, downtown, shopping, restaurants, hospitals, and I-55. Its location places multiple daily-service and employment destinations within a short drive, while the four-unit configuration provides a defined multifamily layout.
Key Highlights
- Four 2 bed/1bth units within a 3,200‑square‑foot quadplex
- Property stays occupied; tenants pay all utilities
- Each unit 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
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
537
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
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 occupied two-bedroom units with individual utility meters, central HVAC, and off-street parking.
Where is this quadplex located?
The property is located at 612 RUE ST 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; tenants pay all utilities; Each unit individually metered for all utilities
