813 S Olive St · Hammond, LA 70403

$56,000

3 bd · 2.0 ba · 1,546 sqft · SingleFamily public records · 260 Days on market

Built 1955 $36/sqft · 63% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good location , there will be great house after renovation.

Key facts

• Parking
• Built 1955
• Listed 259 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.0% 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; 11 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 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 $387 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 $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 17y ago; this cycle's ask has dropped $3k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $56k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.03% ✓
• Cap rate: 28.02%
• Cash-on-cash: 77.58%
• DSCR: 4.45
• GRM: 2.7

CMA / ARV

• ARV (median comp): $184,471
• List price: $56,000
• Delta: -69.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 S Holly St	0.29mi	3/2.0	1,480 (-4%)	4mo	$222,000	$150	75
411 Whip St	0.39mi	3/2.0	1,520 (-2%)	8mo	$225,000	$148	72
310 S Olive St	0.36mi	3/2.0	1,655 (+7%)	1mo	$255,000	$154	71
1528 Camellia Dr	0.52mi	3/2.0	1,562 (+1%)	6mo	$250,000	$160	69
203 S Elm St	0.49mi	3/2.0	1,502 (-3%)	9mo	$90,000	$60	65
44049 Fern St	0.54mi	3/2.0	1,447 (-6%)	2mo	$225,000	$155	63
910 S Holly St	0.17mi	3/1.5	1,324 (-14%)	11mo	$189,000	$143	57
46033 Terra Cotta Ct	0.68mi	3/2.0	1,578 (+2%)	10mo	$240,720	$153	56
17295 Paddock Cir	0.73mi	3/2.0	1,607 (+4%)	10mo	$272,700	$170	52
1005 E Thomas St	0.63mi	3/1.0	1,365 (-12%)	1mo	$110,000	$81	46
1100 S Oak St	0.48mi	4/2.0 (+1)	1,349 (-13%)	7mo	$105,000	$78	46
44128 Halter Ln	0.69mi	3/2.0	1,760 (+14%)	3mo	$298,000	$169	43

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: 74.7%
• Equity multiple: 4.25×
• Total profit: $51,033
• Equity at exit: $8,350

10-year hold

• IRR: 77.7%
• Equity multiple: 8.03×
• Total profit: $110,242
• Equity at exit: $4,842

Cash invested: $15,680 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,699 high
• Mortgage (P&I): −$294
• Tax from tax record: −$11 /mo · $135/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $1,014

Break-even live

Break-even rent $416

Max offer price $56,000

Occupancy floor 35%

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 E Park Ave Hammond, LA	3.0	2.0	1800	$1,700	$0.94	43d	1	0.19mi
17019 E Louisiana Ave Hammond, LA	3.0	2.0	1723	$1,995	$1.16	43d	1	0.32mi
402 S Cherry St Hammond, LA	3.0	2.0	1400	$1,700	$1.21	43d	1	0.37mi
100 S Cypress St Hammond, LA	2.0	2.5	1100	$1,750	$1.59	43d	1	0.59mi
1002 S Pine St Hammond, LA	3.0	2.5	1324	$1,500	$1.13	43d	1	0.60mi
221 W Thomas St Unit A Hammond, LA	3.0	1.0	1400	$2,050	$1.46	43d	1	0.72mi
408 E Michigan St Hammond, LA	2.0	1.0	1222	$1,350	$1.10	43d	1	0.86mi
43215 Creek Cir #507 Hammond, LA	3.0	2.5	1663	$1,700	$1.02	43d	1	0.92mi
16218 E Minnesota Park Rd Unit 3B Hammond, LA	2.0	2.5	1095	$1,450	$1.32	43d	1	1.03mi
207 S Laurel St Unit B Hammond, LA	3.0	2.0	1100	$1,350	$1.23	43d	1	1.06mi
17597 Tangi Lake Dr Hammond, LA	1.0–3.0	1.0–2.5	1075	$1,500	$1.40	43d	1	1.46mi

Listing history 40 events

1. 2026-06-19
   days on market $56,000 Active 260 DOM
2. 2026-06-18
   days on market $56,000 Active 259 DOM
3. 2026-06-17
   days on market $56,000 Active 258 DOM
4. 2026-06-16
   days on market $56,000 Active 257 DOM
5. 2026-06-15
   days on market $56,000 Active 256 DOM
6. 2026-06-14
   days on market $56,000 Active 254 DOM
7. 2026-06-13
   days on market $56,000 Active 253 DOM
8. 2026-06-10
   days on market $56,000 Active 251 DOM
9. 2026-06-09
   days on market $56,000 Active 250 DOM
10. 2026-06-08
    days on market $56,000 Active 249 DOM
11. 2026-06-07
    days on market $56,000 Active 248 DOM
12. 2026-06-05
    days on market $56,000 Active 245 DOM
13. 2026-06-03
    days on market $56,000 Active 244 DOM
14. 2026-06-02
    days on market $56,000 Active 243 DOM
15. 2026-06-01
    days on market $56,000 Active 242 DOM
16. 2026-05-31
    days on market $56,000 Active 241 DOM
17. 2026-05-30
    days on market $56,000 Active 240 DOM
18. 2026-02-13
    price $56,000 59-char remark

    Show marketing remark (59 chars)

    Good location , there will be great house after renovation.

19. 2026-02-13
    price $56,000 59-char remark

    Show marketing remark (59 chars)

    Good location , there will be great house after renovation.

20. 2026-02-05
    price $57,000 59-char remark

    Show marketing remark (59 chars)

    Good location , there will be great house after renovation.

21. 2026-02-05
    price $57,000 59-char remark

    Show marketing remark (59 chars)

    Good location , there will be great house after renovation.

22. 2025-09-29
    listed $59,000 Active 59-char remark

    Show marketing remark (59 chars)

    Good location , there will be great house after renovation.

23. 2025-09-29
    listed $59,000 Active 59-char remark

    Show marketing remark (59 chars)

    Good location , there will be great house after renovation.

24. 2024-01-22
    price $58,000
25. 2023-10-18
    listed $58,000
26. 2023-06-09
    price $60,000
27. 2023-04-29
    price $65,000
28. 2023-04-26
    listed $60,000
29. 2017-11-16
    soldstatus $32,200 Sold
30. 2017-11-13
    status Under Contract
31. 2017-10-24
    listed $39,000 Active
32. 2017-10-24
    listed $39,000
33. 2011-06-13
    soldstatus $15,957
34. 2011-03-21
    listed $31,500
35. 2011-03-21
    listed $31,500
36. 2009-10-29
    listed $45,000
37. 2009-10-29
    listed $45,000
38. 2009-04-14
    listed $44,200
39. 2009-04-14
    listed $44,200
40. 2001-11-07
    soldstatus

ⓘ 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: $135 · $11/mo
• Projected year-2 tax: $308 · $26/mo
• Expected delta: +$173/yr (+$14/mo · 128.0%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 21 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: $20,384
• − Mortgage interest: −$3,137
• − Property taxes: −$135
• − Insurance: −$280
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$1,629
• Taxable income: $11,942
• Est. tax owed @ 24.0%: −$2,866
• After-tax cash flow: $9,298/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

• 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

+26.7% since first listed

23 events — show timeline

• 2026-02-13 Price Changed $56,000 AcadianaMLS
• 2026-02-13 Price Changed $56,000 GSREIN
• 2026-02-05 Price Changed $57,000 AcadianaMLS
• 2026-02-05 Price Changed $57,000 GSREIN
• 2025-09-29 Listed $59,000 GSREIN
• 2025-09-29 Listed $59,000 AcadianaMLS
• 2024-01-22 Price Changed $58,000 GSREIN
• 2023-10-18 Listed $58,000 AcadianaMLS
• 2023-06-09 Price Changed $60,000 GSREIN
• 2023-04-29 Price Changed $65,000 GSREIN
• 2023-04-26 Listed $60,000 AcadianaMLS
• 2017-11-16 Sold (MLS) $32,200 GSREIN
• 2017-11-13 Pending — GSREIN
• 2017-10-24 Listed $39,000 GSREIN
• 2017-10-24 Listed $39,000 AcadianaMLS
• 2011-06-13 Sold (MLS) $15,957 GSREIN
• 2011-03-21 Listed $31,500 AcadianaMLS
• 2011-03-21 Listed $31,500 GSREIN
• 2009-10-29 Listed $45,000 GSREIN
• 2009-10-29 Listed $45,000 AcadianaMLS
• 2009-04-14 Listed $44,200 GSREIN
• 2009-04-14 Listed $44,200 AcadianaMLS
• 2001-11-07 Sold (Public Records) — Public Records

Property tax history

+0.6%/yr

Latest (2025): $135 · +0.5% YoY. Source: county tax records.