11563 Wardline Rd

Hammond, LA 70401

$179,000D

3 bd · 2.0 ba · 1,288 sqft · Built 1975 · SingleFamily · Active · 162 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,319/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$140
• HOA: −$0
• Vac / Maint / Mgmt: −$277
• Net cashflow: $-36/mo
• Annual: $-437/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• 1% rule: 0.74%
• Cash to close: $50,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $-36 ($-437/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (26.3% below list).
• It's been on market 162 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (26.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#77 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities C-, commute D+, crime F.
• Tangipahoa Parish (rural): math 18% / reading 29% proficiency, ranked #63 of 98 in LA (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodland Park Magnet (math 12% / reading 8%, grade F, #597 of 646 statewide, top 95%, 519 students, 88% FRL); Lucille Nesom Memorial (math 7% / reading 21%, grade F, #534 of 646 statewide, top 83%, 549 students, 83% FRL); Hammond High Magnet School (math 19% / reading 28%, grade F, #167 of 265 statewide, top 63%, 1,750 students, 64% FRL).
• Market conditions: Rents flat; 221 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $36k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 5.0% in Hammond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 162 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?