50332 Michael Paul Dr · Hammond, LA 70446

$149,900

3 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 160 Days on market

Built 1999 9,583 sqft lot $116/sqft · 32% below area Est $231k · 35% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

Key facts

• Remodeled
• Laminate wood floors
• Covered back patio

Tags

• WOOD BURNING FIREPLACE
• REMODELED
• NEW ROOF
• NEW HVAC SYSTEM
• LAMINATE WOOD FLOORS
• COVERED BACK PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.0% in Hammond — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• 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: Loranger Elementary School (math 13% / reading 24%, grade F, #467 of 646 statewide, top 73%, 834 students, 66% FRL); Loranger Middle School (math 15% / reading 31%, grade F, #145 of 218 statewide, top 69%, 610 students, 62% FRL); Loranger High School (math 22% / reading 37%, grade F, #127 of 265 statewide, top 49%, 666 students, 58% FRL).
• Market conditions: 60 active listings in the ZIP; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.03%
• DSCR: 1.54
• GRM: 7.6

CMA / ARV

• ARV (median comp): $231,290
• List price: $149,900
• Delta: -35.19%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24055 Sparrow Ln	0.52mi	3/2.0	1,177 (-9%)	22mo	$225,000	$191	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,439
• Equity at exit: $22,351

10-year hold

• IRR: 11.1%
• Equity multiple: 1.87×
• Total profit: $36,344
• Equity at exit: $12,961

Cash invested: $41,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70446

• Home prices YoY: -33.1%
• Active inventory: 60
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,645 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $421

Break-even live

Break-even rent $1,112

Max offer price $149,900

Occupancy floor 69%

Sensitivity live

Price	-10% $506	-5% $463	+0% $421	+5% $378	+10% $336
Rent	-10% $291	-5% $356	+0% $421	+5% $486	+10% $551
Rate	-1.0pp $496	-0.5pp $459	base $421	+0.5pp $382	+1.0pp $342

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-21
   days on market $149,900 Active 160 DOM
2. 2026-06-19
   days on market $149,900 Active 158 DOM
3. 2026-06-18
   days on market $149,900 Active 157 DOM
4. 2026-06-17
   days on market $149,900 Active 156 DOM
5. 2026-06-16
   days on market $149,900 Active 155 DOM
6. 2026-06-15
   days on market $149,900 Active 154 DOM
7. 2026-06-14
   days on market $149,900 Active 152 DOM
8. 2026-06-13
   days on market $149,900 Active 151 DOM
9. 2026-06-10
   days on market $149,900 Active 149 DOM
10. 2026-06-09
    days on market $149,900 Active 148 DOM
11. 2026-06-08
    days on market $149,900 Active 147 DOM
12. 2026-06-07
    days on market $149,900 Active 146 DOM
13. 2026-06-05
    days on market $149,900 Active 143 DOM
14. 2026-06-03
    days on market $149,900 Active 142 DOM
15. 2026-06-02
    days on market $149,900 Active 141 DOM
16. 2026-06-01
    days on market $149,900 Active 140 DOM
17. 2026-05-31
    days on market $149,900 Active 139 DOM
18. 2026-05-30
    days on market $149,900 Active 138 DOM
19. 2026-05-11
    price $149,900 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

20. 2026-05-11
    price $149,900 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

21. 2026-03-09
    price $150,000 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

22. 2026-03-09
    price $150,000 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

23. 2026-02-23
    price $154,000 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

24. 2026-02-23
    price $154,000 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

25. 2026-01-26
    price $155,000 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

26. 2026-01-26
    price $155,000 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

27. 2026-01-12
    listed $160,000 Active 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

28. 2026-01-12
    listed $160,000 Active 303-char remark

    Show marketing remark (303 chars)

    EXCELLENT OPPORTUNITY! 3 BEDROOM 2 FULL BATHS IN A GREAT COMMUNITY. FEATURES A COZY WOOD BURNING FIREPLACE. COMPLETELY REMODELED IN 2023 WITH NEW ROOF, HVAC SYSTEM, LAMINATE WOOD FLOORS AND CARPET IN BEDROOMS ALSO FRESHLY PAINTED. HUGE COVERED BACK PATIO FOR ENTERTAINING! MOVE IN READY, COME CHECK OUT!

29. 2023-11-03
    soldstatus $149,000
30. 2023-11-01
    soldstatus $149,000 Closed
31. 2023-10-11
    historical Active Under Contract
32. 2023-09-25
    price $140,900
33. 2023-09-14
    price $141,900
34. 2023-08-30
    price $146,900
35. 2023-08-22
    price $148,900
36. 2023-08-15
    price $149,900
37. 2023-08-02
    price $151,900
38. 2023-07-24
    price $155,900
39. 2023-07-17
    price $159,900
40. 2023-07-05
    price $164,900
41. 2023-06-14
    listed $140,900
42. 2023-06-14
    listed $169,900 Active
43. 2020-03-17
    soldstatus $47,600
44. 2007-11-19
    listed $49,208
45. 2003-08-01
    soldstatus $67,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $362 · $30/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$462/yr (+$39/mo · 127.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,740
• − Mortgage interest: −$8,397
• − Property taxes: −$362
• − Insurance: −$750
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$4,361
• Taxable income: $2,712
• Est. tax owed @ 24.0%: −$651
• After-tax cash flow: $4,399/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Tangipahoa Parish
• NCES district ID: 2201680
• Math proficiency: 18% ▼ -32.00%
• Reading proficiency: 29% ▼ -31.00%
• Median HH income: $41,283
• Composite: 19.94/100
• National rank: #8676
• State rank: #63 of 98 in LA

Livability — Hammond

• Score: 69/100
• State rank: #77
• US rank: #8868

Category grades

Amenities C- Commute D+ Cost of living A+ Crime F Employment F Housing C+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 51,394
• Population (ZIP): 6,871

Population outlook (Tangipahoa County) Hauer SSP2

• Today (2025): 144,204 people
• By 2030: 151,413 · +5.0%
• By 2040: 164,374 · +14.0%
• By 2050: 175,427 · +21.7%
• By 2075: 195,165 · +35.3%
• By 2100: 201,641 · +39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Lithuanian 13%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Tangipahoa

• 2024 margin: Solid R (+37.4) · D 30.6% · R 68.0% · Other 1.3%
• 2008→2024 swing: -6.5pp toward R · 2008: -30.9pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+32.8 2016: R+32.6 2012: R+27.7 2008: R+30.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.41%
• Current HPI: 133.9227
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+123.7% since first listed

27 events — show timeline

• 2026-05-11 Price Changed $149,900 AcadianaMLS
• 2026-05-11 Price Changed $149,900 GSREIN
• 2026-03-09 Price Changed $150,000 AcadianaMLS
• 2026-03-09 Price Changed $150,000 GSREIN
• 2026-02-23 Price Changed $154,000 AcadianaMLS
• 2026-02-23 Price Changed $154,000 GSREIN
• 2026-01-26 Price Changed $155,000 AcadianaMLS
• 2026-01-26 Price Changed $155,000 GSREIN
• 2026-01-12 Listed $160,000 GSREIN
• 2026-01-12 Listed $160,000 AcadianaMLS
• 2023-11-03 Sold (Public Records) $149,000 Public Records
• 2023-11-01 Sold (MLS) $149,000 GSREIN
• 2023-10-11 Contingent — GSREIN
• 2023-09-25 Price Changed $140,900 GSREIN
• 2023-09-14 Price Changed $141,900 GSREIN
• 2023-08-30 Price Changed $146,900 GSREIN
• 2023-08-22 Price Changed $148,900 GSREIN
• 2023-08-15 Price Changed $149,900 GSREIN
• 2023-08-02 Price Changed $151,900 GSREIN
• 2023-07-24 Price Changed $155,900 GSREIN
• 2023-07-17 Price Changed $159,900 GSREIN
• 2023-07-05 Price Changed $164,900 GSREIN
• 2023-06-14 Listed $169,900 GSREIN
• 2023-06-14 Listed $140,900 AcadianaMLS
• 2020-03-17 Sold (Public Records) $47,600 Public Records
• 2007-11-19 Listed $49,208 AcadianaMLS
• 2003-08-01 Sold (Public Records) $67,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $362 · +0.5% YoY. Source: county tax records.