1011 E Coleman Dr · Hammond, LA 70403

$95,000

3 bd · 1.0 ba · 901 sqft · SingleFamily · 331 Days on market

Built 2001 Good condition 10,018 sqft lot $105/sqft · 30% below area Est $136k · 30% under ↓ 19% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

Key facts

• 0.23 acre lot
• Parking
• Built 2001

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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+, schools D.
• 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.
• Market conditions: Rents flat; 329 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 + 0.3% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 331 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 331 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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.29%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $136,049
• List price: $95,000
• Delta: -30.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 Noah James Dr	0.05mi	2/1.0 (-1)	1,030 (+14%)	14mo	$120,000	$117	57
506 S Olives St	0.37mi	3/2.0	1,008 (+12%)	7mo	$65,250	$65	53
707 E Louisiana Ave	0.40mi	3/2.0	1,028 (+14%)	1mo	$140,000	$136	53
406 E Iowa Ave	0.49mi	2/2.0 (-1)	1,000 (+11%)	2mo	$245,000	$245	48
611 E Michigan St	0.57mi	2/1.0 (-1)	1,002 (+11%)	22mo	$30,000	$30	31
44244 Simpson Pl	0.69mi	2/2.0 (-1)	960 (+6%)	22mo	$99,000	$103	30

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 · 0.33% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.41×
• Total profit: $10,950
• Equity at exit: $14,165

10-year hold

• IRR: 17.5%
• Equity multiple: 2.27×
• Total profit: $33,791
• Equity at exit: $8,214

Cash invested: $26,600 (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 70403

• Home prices YoY: -34.1%
• Rents YoY: 0.3%
• Active inventory: 329
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $472

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 62%

Sensitivity live

Price	-10% $538	-5% $505	+0% $472	+5% $439	+10% $406
Rent	-10% $359	-5% $416	+0% $472	+5% $528	+10% $585
Rate	-1.0pp $520	-0.5pp $496	base $472	+0.5pp $447	+1.0pp $422

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44347 Simpson Pl Unit 1 Hammond, LA	2.0	1.0	960	$950	$0.99	44d	1	0.53mi
100 S Cypress St Hammond, LA	2.0	2.5	1100	$1,750	$1.59	44d	1	0.64mi
309 Hewitt Rd Unit B Hammond, LA	2.0	1.0	806	$1,350	$1.67	44d	1	1.19mi
17597 Tangi Lake Dr Hammond, LA	1.0–3.0	1.0–2.5	1075	$1,500	$1.40	44d	1	1.27mi
207 S Laurel St Unit B Hammond, LA	3.0	2.0	1100	$1,350	$1.23	44d	1	1.31mi
1600 Bauerle Rd Hammond, LA	1.0–2.0	1.0–2.0	884	$1,751	$1.98	44d	4	1.39mi
16218 E Minnesota Park Rd Unit 3B Hammond, LA	2.0	2.5	1095	$1,450	$1.32	44d	1	1.43mi
141 Clinton Ct Unit B Hammond, LA	2.0	1.0	800	$800	$1.00	44d	1	1.48mi

Listing history 27 events

1. 2026-06-19
   days on market $95,000 Active 331 DOM
2. 2026-06-18
   days on market $95,000 Active 330 DOM
3. 2026-06-17
   days on market $95,000 Active 329 DOM
4. 2026-06-16
   days on market $95,000 Active 328 DOM
5. 2026-06-15
   days on market $95,000 Active 327 DOM
6. 2026-06-14
   days on market $95,000 Active 325 DOM
7. 2026-06-13
   days on market $95,000 Active 324 DOM
8. 2026-06-10
   days on market $95,000 Active 322 DOM
9. 2026-06-09
   days on market $95,000 Active 321 DOM
10. 2026-06-08
    days on market $95,000 Active 320 DOM
11. 2026-06-07
    days on market $95,000 Active 319 DOM
12. 2026-06-05
    days on market $95,000 Active 316 DOM
13. 2026-06-03
    days on market $95,000 Active 315 DOM
14. 2026-06-02
    days on market $95,000 Active 314 DOM
15. 2026-06-01
    days on market $95,000 Active 313 DOM
16. 2026-05-31
    days on market $95,000 Active 312 DOM
17. 2026-05-30
    days on market $95,000 Active 311 DOM
18. 2026-05-19
    price $95,000 271-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

19. 2026-05-19
    price $95,000 272-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

20. 2026-03-11
    price $100,000 271-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

21. 2026-03-11
    price $100,000 272-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

22. 2025-11-29
    price $108,000 271-char remark

    Show marketing remark (271 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

23. 2025-11-14
    price $108,000 272-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

24. 2025-10-03
    price $115,000 271-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

25. 2025-10-03
    price $115,000 272-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

26. 2025-07-23
    listed $118,000 Active 271-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

27. 2025-07-23
    listed $118,000 Active 272-char remark

    Show marketing remark (272 chars)

    Two bedroom and one bathroom. Has a flex room to the rear that could be used as a third bedroom. Inside the city limits of Hammond. City water, water, sewer. Two window units to cool and heat. Raised foundation. owner/agent Bond for deed/Lease Purchase Options available.

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

Taxation est. · year 1

• Rental income: $17,142
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$2,764
• Taxable income: $4,414
• Est. tax owed @ 24.0%: −$1,059
• After-tax cash flow: $4,604/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with recent updates, making it a solid investment opportunity. The fresh paint and new fixtures add value, and further improvements like energy-efficient windows and smart home devices can further enhance its appeal.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace window units with energy-efficient ones — Modern units improve energy efficiency and reduce utility costs
• Both Install smart home devices — Enhances home's appeal and can increase its market value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace window units with energy-efficient ones — Modern units improve energy efficiency and reduce utility costs ↑
• Both Install smart home devices — Enhances home's appeal and can increase its market value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Hammond, LA
• County: Tangipahoa Parish · 85,958 people
• City population: 51,394
• Metro: Hammond, LA
• Population (ZIP): 30,173
• Household income: $50,976
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1201.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 55% Black 37% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 9% Serbian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4% Arabic 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: ▼ -66.04%
• Current HPI: 127.4535
• Rent YoY: ▲ 0.33%
• Metro: Hammond, LA
• 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

-19.5% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $95,000 AcadianaMLS
• 2026-05-19 Price Changed $95,000 GSREIN
• 2026-03-11 Price Changed $100,000 AcadianaMLS
• 2026-03-11 Price Changed $100,000 GSREIN
• 2025-11-29 Price Changed $108,000 AcadianaMLS
• 2025-11-14 Price Changed $108,000 GSREIN
• 2025-10-03 Price Changed $115,000 AcadianaMLS
• 2025-10-03 Price Changed $115,000 GSREIN
• 2025-07-23 Listed $118,000 GSREIN
• 2025-07-23 Listed $118,000 AcadianaMLS