1611 Palmetto St · Hammond, LA 70403

$79,900

4 bd · 2.0 ba · 1,793 sqft · SingleFamily public records · 16 Days on market

Built 1984 Fair condition 10,301 sqft lot $45/sqft · 50% below area Est $154k · 48% under ↓ 49% 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
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of possibilities for this 4 Bdr Home on Corner Lot in city limits of Hammond. FEATURES: Single Carport w/Concrete Driveway, Fenced Backyard, Central A/H, Fireplace, Concrete Patio, and 2nd Driveway with Gate to access back yard for more parking.

Key facts

• Concrete patio
• Fenced backyard
• 0.24 acre lot

Tags

• FENCED BACKYARD
• CONCRETE PATIO
• 2ND DRIVEWAY WITH GATE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.9% vs local median 4.9% 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: Hammond Westside Montessori (math 15% / reading 21%, grade F, #472 of 646 statewide, top 74%, 1,072 students, 73% FRL); Greenville Park Leadership Academy (math 8% / reading 12%, grade F, #199 of 218 statewide, top 92%, 447 students, 86% FRL); Hammond High Magnet School (math 19% / reading 28%, grade F, #167 of 265 statewide, top 63%, 1,750 students, 64% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents flat; 474 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• This rent runs 40% 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (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 $78,701 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.15% ✓
• Cap rate: 18.94%
• Cash-on-cash: 45.17%
• DSCR: 3.01
• GRM: 3.9

CMA / ARV

• ARV (median comp): $153,771
• List price: $79,900
• Delta: -48.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 Hewitt Rd	0.87mi	3/2.0 (-1)	1,775 (-1%)	11mo	$320,000	$180	49
1407 Live Oak Dr	0.40mi	3/2.5 (-1)	1,580 (-12%)	14mo	$33,000	$21	43
303 S Linden St	0.98mi	4/2.0	2,074 (+16%)	11mo	$335,000	$162	31
112 Rosewood Dr	1.12mi	3/1.5 (-1)	1,438 (-20%)	6mo	$169,000	$118	28
102 Ozone Dr	0.75mi	3/1.5 (-1)	1,484 (-17%)	9mo	$78,000	$53	26
601 Jw Davis Dr	0.63mi	3/1.5 (-1)	1,466 (-18%)	16mo	$156,500	$107	25
2607 Rue St. Martin St Unit B	0.84mi	3/2.5 (-1)	2,044 (+14%)	22mo	$164,900	$81	16

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: 39.3%
• Equity multiple: 2.62×
• Total profit: $36,206
• Equity at exit: $11,913

10-year hold

• IRR: 44.4%
• Equity multiple: 4.72×
• Total profit: $83,151
• Equity at exit: $6,908

Cash invested: $22,372 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $115,000 ($58/sqft)
• Median days on market: 270 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +49.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70403

• Home prices YoY: -34.1%
• Rents YoY: 0.3%
• Active inventory: 474
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,714 high
• Mortgage (P&I): −$419
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $842

Break-even live

Break-even rent $648

Max offer price $79,900

Occupancy floor 46%

Sensitivity live

Price	-10% $887	-5% $865	+0% $842	+5% $820	+10% $797
Rent	-10% $707	-5% $774	+0% $842	+5% $910	+10% $978
Rate	-1.0pp $882	-0.5pp $862	base $842	+0.5pp $821	+1.0pp $800

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: $19,975
• Closing costs: $2,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42324 Rebekah St Hammond, LA	3.0	2.0	1603	$1,400	$0.87	2d	1	0.68mi
2609 Rue Saint Martin Hammond, LA	3.0	2.0	1600	$1,400	$0.88	184d	1	0.86mi
2701 Rue Saint Martin Unit C Hammond, LA	3.0	2.0	1600	$1,125	$0.70	184d	1	0.88mi
1600 Bauerle Rd Hammond, LA	1.0–3.0	1.0–2.0	1002	$1,992	$1.99	1d	9	0.91mi
110 N Carter St Hammond, LA	3.0	2.0	1691	$1,450	$0.86	10d	1	0.96mi
110 N Carter St Hammond, LA	3.0	2.0	1691	$1,450	$0.86	14d	1	0.96mi
110 N Carter St Hammond, LA	3.0	1.5	1562	$1,500	$0.96	17d	1	0.96mi
1307 Bauerle Rd Hammond, LA	3.0	2.0	1425	$1,700	$1.19	14d	1	1.02mi
1307 Bauerle Rd Hammond, LA	3.0	2.0	1425	$1,700	$1.19	6d	1	1.02mi
1002 S Pine St Hammond, LA	3.0	2.5	1324	$1,500	$1.13	184d	1	1.04mi
300 Maple St Hammond, LA	3.0	1.5	1340	$1,200	$0.90	43d	1	1.09mi
44458 Lato Ln Hammond, LA	3.0	2.0	1504	$1,550	$1.03	10d	1	1.14mi
1306 W Church St Hammond, LA	4.0	2.0	1885	$2,150	$1.14	10d	1	1.17mi
1306 W Church St Hammond, LA	4.0	2.0	1885	$2,150	$1.14	14d	1	1.17mi
42365 Broadwalk Ave Hammond, LA	3.0	2.0	1682	$1,800	$1.07	33d	1	1.23mi
411 N Linden St Hammond, LA	3.0	2.0	1685	$1,800	$1.07	14d	1	1.30mi
411 N Linden St Hammond, LA	3.0	2.0	1685	$1,800	$1.07	10d	1	1.30mi
900 S Cypress St Hammond, LA	4.0	3.0	2484	$1,800	$0.72	24d	1	1.35mi
113 Aurora Blvd Hammond, LA	3.0	2.0	1530	$1,650	$1.08	43d	1	1.37mi
221 W Thomas St Unit A Hammond, LA	3.0	1.0	1400	$2,050	$1.46	184d	1	1.38mi
42268 Will E Wright Jr Dr Hammond, LA	3.0	2.0	1300	$1,800	$1.38	184d	1	1.39mi
700 Whip St Hammond, LA	3.0	2.0	1475	$1,800	$1.22	10d	1	1.47mi
700 Whip St Hammond, LA	3.0	2.0	1475	$1,800	$1.22	14d	1	1.47mi
42186 Broadwalk Ave Hammond, LA	3.0	2.0	1649	$1,850	$1.12	14d	1	1.47mi
42186 Broadwalk Ave Hammond, LA	3.0	2.0	1649	$1,850	$1.12	10d	1	1.47mi

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Public waterPublic sewerCable availableNatural gas not available
• Home design: Traditional styleOne level
• Construction: Slab foundationAsphalt shingle roof
• Exterior features: Wood fenceCorner lot

Interior

• Kitchen: DishwasherMicrowave
• Flooring: LaminateTileVinylWood
• Bathrooms: 1 full bathroom2 half bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Wood-burning fireplace
• Laundry & utility: Washer hookupElectric dryer hookup

Listing history 50 events

1. 2026-11-08
   days on market $79,900 Active 16 DOM
2. 2026-11-07
   days on market $79,900 Active 15 DOM
3. 2026-11-06
   days on market $79,900 Active 14 DOM
4. 2026-11-05
   days on market $79,900 Active 13 DOM
5. 2026-11-04
   pricedays on market $79,900 Active 12 DOM
6. 2026-11-02
   days on market $84,900 Active 10 DOM
7. 2026-11-01
   days on market $84,900 Active 9 DOM
8. 2026-10-31
   days on market $84,900 Active 8 DOM
9. 2026-10-30
   days on market $84,900 Active 7 DOM
10. 2026-10-29
    days on market $84,900 Active 6 DOM
11. 2026-10-28
    days on market $84,900 Active 5 DOM
12. 2026-10-27
    days on market $84,900 Active 4 DOM
13. 2026-10-26
    days on market $84,900 Active 3 DOM
14. 2026-10-25
    days on market $84,900 Active 2 DOM
15. 2026-10-24
    days on marketlisting id $84,900 Active 1 DOM
16. 2026-10-23
    days on market $84,900 Active 171 DOM
17. 2026-10-22
    days on market $84,900 Active 170 DOM
18. 2026-10-21
    days on market $84,900 Active 169 DOM
19. 2026-10-20
    days on market $84,900 Active 168 DOM
20. 2026-10-19
    days on market $84,900 Active 167 DOM
21. 2026-10-18
    days on market $84,900 Active 166 DOM
22. 2026-10-17
    days on market $84,900 Active 165 DOM
23. 2026-10-16
    days on market $84,900 Active 164 DOM
24. 2026-10-15
    days on market $84,900 Active 163 DOM
25. 2026-10-14
    days on market $84,900 Active 162 DOM
26. 2026-10-13
    days on market $84,900 Active 161 DOM
27. 2026-10-12
    days on market $84,900 Active 160 DOM
28. 2026-10-11
    days on market $84,900 Active 159 DOM
29. 2026-10-10
    days on market $84,900 Active 158 DOM
30. 2026-10-09
    days on market $84,900 Active 157 DOM
31. 2026-10-08
    days on market $84,900 Active 156 DOM
32. 2026-10-07
    days on market $84,900 Active 155 DOM
33. 2026-10-06
    days on market $84,900 Active 154 DOM
34. 2026-10-05
    days on market $84,900 Active 153 DOM
35. 2026-10-04
    days on market $84,900 Active 152 DOM
36. 2026-10-03
    days on market $84,900 Active 151 DOM
37. 2026-10-02
    days on market $84,900 Active 150 DOM
38. 2026-10-01
    days on market $84,900 Active 149 DOM
39. 2026-09-30
    days on market $84,900 Active 148 DOM
40. 2026-09-29
    days on market $84,900 Active 147 DOM
41. 2026-09-28
    days on market $84,900 Active 146 DOM
42. 2026-09-27
    days on market $84,900 Active 145 DOM
43. 2026-09-26
    days on market $84,900 Active 144 DOM
44. 2026-09-25
    days on market $84,900 Active 143 DOM
45. 2026-09-24
    price $84,900 Active 142 DOM

    Show marketing remark (251 chars)

    Lots of possibilities for this 4 Bdr Home on Corner Lot in city limits of Hammond. FEATURES: Single Carport w/ Concrete Driveway, Fenced Backyard, Central A/H, Fireplace, Concrete Patio, and 2nd Driveway with Gate to access back yard for more parking.

46. 2026-09-24
    days on market $94,900 Active 142 DOM

    Show marketing remark (251 chars)

    Lots of possibilities for this 4 Bdr Home on Corner Lot in city limits of Hammond. FEATURES: Single Carport w/ Concrete Driveway, Fenced Backyard, Central A/H, Fireplace, Concrete Patio, and 2nd Driveway with Gate to access back yard for more parking.

47. 2026-09-24
    days on market $94,900 Active 141 DOM

    Show marketing remark (251 chars)

    Lots of possibilities for this 4 Bdr Home on Corner Lot in city limits of Hammond. FEATURES: Single Carport w/ Concrete Driveway, Fenced Backyard, Central A/H, Fireplace, Concrete Patio, and 2nd Driveway with Gate to access back yard for more parking.

48. 2026-09-22
    days on market $94,900 Active 140 DOM
49. 2026-09-21
    days on market $94,900 Active 139 DOM
50. 2026-09-20
    days on market $94,900 Active 138 DOM

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $716 · $60/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,569
• − Mortgage interest: −$4,476
• − Property taxes: −$716
• − Insurance: −$400
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$2,324
• Taxable income: $9,362
• Est. tax owed @ 24.0%: −$2,247
• After-tax cash flow: $7,859/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $44,825–$80,685 screening

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, and interior walls.

Components & finishes AI

Roof asphalt shingle · good Flooring tile

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical system.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.
• Minor Exterior (exterior) — No visible signs of damage or wear on the exterior.

Repairs flagged

• Major paint — peeling paint in multiple areas
• Moderate kitchen cabinets — dated and worn
• Minor bathroom fixtures — standard fixtures, no visible damage

Value-add opportunities

• Both new kitchen cabinets and appliances — modernizing the kitchen would appeal to both buyers and renters ↑
• Both painting the interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both upgrading bathroom fixtures — new fixtures would enhance the home's appeal and functionality ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Southeastern La University Lab School B- LA #65/646 Nat'l #7,252/41,679 Middle Greenville Park Leadership Academy F LA #199/218 Nat'l #13,307/14,009 High Hammond High Magnet School F LA #167/265 Nat'l #13,485/17,239

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

C Composite livability gradescore 69/100

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 · 144,204 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: 11% of renters

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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%

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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%
• Languages at home: 95% English-only · Spanish 4% Arabic 1%

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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

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Industry mix (Fortune 500 HQ in LA)

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

Property features AI

Exterior

• Parking: Attached carport
• Utilities: Public waterPublic sewerCable availableNatural gas not available
• Home design: Traditional styleOne level
• Construction: Slab foundationAsphalt shingle roof
• Exterior features: Wood fenceCorner lot

Interior

• Kitchen: DishwasherMicrowave
• Flooring: LaminateTileVinylWood
• Bathrooms: 1 full bathroom2 half bathrooms
• Heating & cooling: Central heatingCentral air
• Interior features: Wood-burning fireplace
• Laundry & utility: Washer hookupElectric dryer hookup

Price history

-49.0% since first listed

14 events — show timeline

• 2026-09-24 Price Changed $84,900 AcadianaMLS
• 2026-09-24 Price Changed $84,900 GSREIN
• 2026-09-02 Price Changed $94,900 AcadianaMLS
• 2026-09-02 Price Changed $94,900 GSREIN
• 2026-07-30 Price Changed $99,900 AcadianaMLS
• 2026-07-30 Price Changed $99,900 GSREIN
• 2026-05-05 Listed $84,900 ROAM MLS
• 2026-05-05 Listed $129,900 GSREIN
• 2026-05-05 Listed $129,900 AcadianaMLS
• 2026-02-20 Price Changed $119,400 AcadianaMLS
• 2026-02-20 Price Changed $119,400 GSREIN
• 2026-02-05 Price Changed $144,100 AcadianaMLS
• 2026-02-05 Price Changed $144,100 GSREIN
• 2026-01-16 Listed $166,500 AcadianaMLS

Property tax history

+1.2%/yr

Latest (2025): $716 · +0.5% YoY. Source: county tax records.