40130 Cordgrass Ln · Hammond, LA 70454

$236,900

4 bd · 2.0 ba · 1,506 sqft · SingleFamily · 101 Days on market

Built 2026 8,842 sqft lot $157/sqft · 6% below area Est $251k · 6% under $53/mo HOA · 3% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +10.1/15.0
• Cash flow +9.3/30.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Rent growth +2.7/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Hickory model, a new home in Cypress Reserve Inside this 4-bedroom, 2-bathroom home, you’ll find 1,506 square feet of enjoyable living. Once you walk into this home, you’ll see two bedrooms along with the guest bathroom. Walking down the foyer, you’ll see another bedroom down a short hallway, that houses the HVAC system and the linen closet on the other side. You’ll then reach the open concept living space, starting with the kitchen. The kitchen offers shaker-style cabinets, gooseneck pulldown faucets in the kitchens. The chef in your family will also enjoy the stainless-steel Frigidaire appliances, stove, microwave hood, dishwasher, single basin undermount sink. and 3 cm granite throughout. The kitchen also houses a large corner pantry, and the separate laundry room is located on the other side, creating easy access to everything. The dining room is adjacent to the kitchen, and the living room is situated nearby. This smart layout ensures that anyone in either space can always be part of the action, regardless of their location. Each bedroom is equipped with cozy carpeting and a convenient closet. Whether you need a space for entertainment, storage, hosting guests, relaxation, or fitness activities, you can count on feeling comfortable and content. The primary bedroom is in the rear of the home and has its own en suite. The primary bathroom features a double vanity with a tub/shower combo, large walk-in closet, separate linen closet, and a separate water closet. Get in touch with us now and discover your new residence today!

Key facts

• Large corner pantry
• 8,842 sq ft lot
• Garage

Tags

• OPEN CONCEPT LIVING SPACE
• SHAKER-STYLE CABINETS
• GOOSENECK PULLDOWN FAUCETS
• STAINLESS-STEEL APPLIANCES
• LARGE CORNER PANTRY
• SEPARATE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $237k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (19.0% below list).
• Recommended offer: $192k (19.0% below list) — sets the bar for 1% rule.

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; 527 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• This rent runs 32% of the median local income ($72k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $191,782 (19.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.81% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.17%
• DSCR: 0.86
• GRM: 10.3

CMA / ARV

• ARV (median comp): $251,369
• List price: $236,900
• Delta: -5.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24335 Cordgrass Ln	0.00mi	4/2.0	1,506 (0%)	2mo	$234,750	$156	98
24326 Cordgrass Ln	0.00mi	4/2.0	1,506 (0%)	3mo	$229,900	$153	98
24323 Cordgrass Ln	0.00mi	4/2.0	1,506 (0%)	5mo	$231,645	$154	96
24311 Cordgrass Ln	0.00mi	4/2.0	1,506 (0%)	6mo	$234,900	$156	95
24321 Gadwall Ave	0.00mi	3/2.0 (-1)	1,510 (+0%)	13mo	$267,500	$177	84
24292 Gadwall Ave	0.00mi	4/2.0	1,555 (+3%)	14mo	$269,900	$174	83
24442 Mckinley Ln	0.32mi	3/2.0 (-1)	1,569 (+4%)	0mo	$265,000	$169	73
24304 Gadwall Ave	0.28mi	4/2.0	1,555 (+3%)	14mo	$272,900	$175	70
24231 Gadwall Ave	0.42mi	4/2.0	1,555 (+3%)	11mo	$271,900	$175	66
24252 Gadwall Ave	0.37mi	4/2.0	1,555 (+3%)	17mo	$250,000	$161	63
40363 Cypress Reserve Blvd	0.48mi	3/2.0 (-1)	1,447 (-4%)	12mo	$245,000	$169	56
40230 Cypress Reserve Blvd	0.63mi	3/2.0 (-1)	1,281 (-15%)	15mo	$216,500	$169	28

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 · 0.66% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.19×
• Total profit: $-53,890
• Equity at exit: $35,323

10-year hold

• IRR: -28.4%
• Equity multiple: -0.18×
• Total profit: $-78,312
• Equity at exit: $20,483

Cash invested: $66,332 (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 70454

• Rents YoY: 0.7%
• Active inventory: 527
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,918 medium
• Mortgage (P&I): −$1,242
• Tax est. 1.5%: −$296 /mo · $3,554/yr
• Insurance: −$99
• HOA: −$53
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-175

Break-even live

Break-even rent $2,139

Max offer price $211,565

Occupancy floor —

Sensitivity live

Price	-10% $-11	-5% $-93	+0% $-175	+5% $-257	+10% $-339
Rent	-10% $-327	-5% $-251	+0% $-175	+5% $-99	+10% $-24
Rate	-1.0pp $-56	-0.5pp $-115	base $-175	+0.5pp $-236	+1.0pp $-299

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: $59,225
• Closing costs: $7,107
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41095 Mersanger Rd Ponchatoula, LA	3.0	2.0	1510	$1,950	$1.29	45d	1	0.46mi

HOA detail

• Monthly dues: $53 · $636/yr
• Likely covers: water

Listing history 20 events

1. 2026-06-21
   days on market $236,900 Active 101 DOM
2. 2026-06-19
   days on market $236,900 Active 99 DOM
3. 2026-06-18
   days on market $236,900 Active 98 DOM
4. 2026-06-17
   days on market $236,900 Active 97 DOM
5. 2026-06-16
   days on market $236,900 Active 96 DOM
6. 2026-06-15
   days on market $236,900 Active 95 DOM
7. 2026-06-14
   days on market $236,900 Active 93 DOM
8. 2026-06-13
   days on market $236,900 Active 92 DOM
9. 2026-06-10
   pricedays on market $236,900 Active 90 DOM
10. 2026-06-09
    days on market $234,900 Active 89 DOM
11. 2026-06-08
    days on market $234,900 Active 88 DOM
12. 2026-06-07
    days on market $234,900 Active 87 DOM
13. 2026-06-05
    days on market $234,900 Active 84 DOM
14. 2026-06-03
    days on market $234,900 Active 83 DOM
15. 2026-06-02
    days on market $234,900 Active 82 DOM
16. 2026-06-01
    days on market $234,900 Active 81 DOM
17. 2026-05-31
    days on market $234,900 Active 80 DOM
18. 2026-05-30
    days on market $234,900 Active 79 DOM
19. 2026-03-12
    listed $234,900 Active 1592-char remark

    Show marketing remark (1566 chars)

    Welcome to the Hickory model, a new home in Cypress Reserve Inside this 4-bedroom, 2-bathroom home, you'll find 1,506 square feet of enjoyable living. Once you walk into this home, you'll see two bedrooms along with the guest bathroom. Walking down the foyer, you'll see another bedroom down a short hallway, that houses the HVAC system and the linen closet on the other side. You'll then reach the open concept living space, starting with the kitchen. The kitchen offers shaker-style cabinets, gooseneck pulldown faucets in the kitchens. The chef in your family will also enjoy the stainless-steel Frigidaire appliances, stove, microwave hood, dishwasher, single basin undermount sink. and 3 cm granite throughout. The kitchen also houses a large corner pantry, and the separate laundry room is located on the other side, creating easy access to everything. The dining room is adjacent to the kitchen, and the living room is situated nearby. This smart layout ensures that anyone in either space can always be part of the action, regardless of their location. Each bedroom is equipped with cozy carpeting and a convenient closet. Whether you need a space for entertainment, storage, hosting guests, relaxation, or fitness activities, you can count on feeling comfortable and content. The primary bedroom is in the rear of the home and has its own en suite. The primary bathroom features a double vanity with a tub/shower combo, large walk-in closet, separate linen closet, and a separate water closet. Get in touch with us now and discover your new residence today!

20. 2026-03-12
    listed $234,900 Active 1566-char remark

    Show marketing remark (1566 chars)

    Welcome to the Hickory model, a new home in Cypress Reserve Inside this 4-bedroom, 2-bathroom home, you'll find 1,506 square feet of enjoyable living. Once you walk into this home, you'll see two bedrooms along with the guest bathroom. Walking down the foyer, you'll see another bedroom down a short hallway, that houses the HVAC system and the linen closet on the other side. You'll then reach the open concept living space, starting with the kitchen. The kitchen offers shaker-style cabinets, gooseneck pulldown faucets in the kitchens. The chef in your family will also enjoy the stainless-steel Frigidaire appliances, stove, microwave hood, dishwasher, single basin undermount sink. and 3 cm granite throughout. The kitchen also houses a large corner pantry, and the separate laundry room is located on the other side, creating easy access to everything. The dining room is adjacent to the kitchen, and the living room is situated nearby. This smart layout ensures that anyone in either space can always be part of the action, regardless of their location. Each bedroom is equipped with cozy carpeting and a convenient closet. Whether you need a space for entertainment, storage, hosting guests, relaxation, or fitness activities, you can count on feeling comfortable and content. The primary bedroom is in the rear of the home and has its own en suite. The primary bathroom features a double vanity with a tub/shower combo, large walk-in closet, separate linen closet, and a separate water closet. Get in touch with us now and discover your new residence today!

ⓘ 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: $23,014
• − Mortgage interest: −$13,270
• − Property taxes: −$3,554
• − Insurance: −$1,184
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − HOA: −$636
• − Depreciation: −$6,892
• Taxable loss: −$6,204
• Est. tax savings @ 24.0%: +$1,489
• After-tax cash flow: $-612/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

• County: Tangipahoa Parish · 85,958 people
• City population: 51,394
• Metro: Hammond, LA
• Population (ZIP): 34,564
• Household income: $71,611
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 479.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 16% Two or more races 8% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 15% Slovak 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -83.55%
• Current HPI: 129.6069
• Rent YoY: ▲ 0.66%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-12 Listed $234,900 AcadianaMLS
• 2026-03-12 Listed $234,900 GSREIN