23213 Railroad Ave · Hammond, LA 70431

$195,000

3 bd · 2.0 ba · 1,619 sqft · SingleFamily · 48 Days on market

Built 2022 $120/sqft · 18% below area Est $239k · 18% under

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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 +15.0/15.0
• Cash flow +8.0/30.0
• Livability +3.5/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming cottage underwent a full renovation in 2023 and is move-in ready from top to bottom. Refinished hardwood floors, freshly painted ceilings, updated bedrooms and bathrooms, and a brand-new kitchen with stainless steel refrigerator, stove, microwave, and dishwasher -- every detail has been thoughtfully refreshed. Situated on a generous deep lot with partial fencing, this is exceptional value at this price point.

Key facts

• Brand new kitchen
• Updated bedrooms
• Full renovation

Tags

• FULL RENOVATION
• REFINISHED HARDWOOD FLOORS
• UPDATED BEDROOMS
• UPDATED BATHROOMS
• BRAND NEW KITCHEN
• STAINLESS STEEL REFRIGERATOR

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Vinyl siding; Shingle roof; Very good condition
• Construction: Built with vinyl siding; Raised foundation; Shingle roof
• Exterior features: Covered patio/porch; Outside city limits; Rectangular lot (50 x 150)

Interior

• Kitchen: Dishwasher; Oven; Range
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Stainless steel appliances; Window screens
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (25.4% below list).
• Recommended offer: $145k (25.4% 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: 78 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 $6k 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 48 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $145,375 (25.4% 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 48 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.75% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.38%
• DSCR: 0.81
• GRM: 11.2

CMA / ARV

• ARV (median comp): $239,010
• List price: $195,000
• Delta: -18.41%
• 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
23162 Serengeti Dr	0.00mi	3/2.0	1,649 (+2%)	0mo	$238,417	$145	96
23093 Island Dr	0.00mi	3/2.0	1,649 (+2%)	0mo	$236,361	$143	96
23183 Island Dr	0.00mi	3/2.0	1,649 (+2%)	1mo	$238,609	$145	96
23079 Rosa Blvd	0.00mi	4/2.0 (+1)	1,556 (-4%)	0mo	$240,000	$154	88
23184 Serengeti Dr	0.00mi	3/2.0	1,490 (-8%)	0mo	$230,988	$155	87
23156 Serengeti Dr	0.00mi	3/2.0	1,490 (-8%)	0mo	$225,140	$151	86
28214 Grassland St	0.00mi	3/2.0	1,490 (-8%)	1mo	$224,280	$151	86
23024 Savannahwood Dr	0.00mi	4/2.0 (+1)	1,555 (-4%)	4mo	$228,795	$147	85
23094 Island Dr	0.00mi	3/2.0	1,490 (-8%)	3mo	$226,010	$152	84
23176 Serengeti Dr	0.00mi	3/2.0	1,424 (-12%)	3mo	$228,713	$161	77
23033 Plainsland Dr	0.00mi	4/2.0 (+1)	1,555 (-4%)	15mo	$230,900	$148	76
23201 Island Dr	0.00mi	4/2.0 (+1)	1,820 (+12%)	0mo	$249,316	$137	74

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: -23.7%
• Equity multiple: 0.19×
• Total profit: $-44,260
• Equity at exit: $29,075

10-year hold

• IRR: -18.6%
• Equity multiple: -0.00×
• Total profit: $-54,783
• Equity at exit: $16,860

Cash invested: $54,600 (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 70431

• Home prices YoY: -6.2%
• Active inventory: 78
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-199

Break-even live

Break-even rent $1,706

Max offer price $166,184

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-132	+0% $-199	+5% $-267	+10% $-334
Rent	-10% $-314	-5% $-257	+0% $-199	+5% $-142	+10% $-84
Rate	-1.0pp $-101	-0.5pp $-150	base $-199	+0.5pp $-250	+1.0pp $-301

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $195,000 Active 48 DOM
2. 2026-06-19
   days on market $195,000 Active 46 DOM
3. 2026-06-18
   days on market $195,000 Active 45 DOM
4. 2026-06-17
   days on market $195,000 Active 44 DOM
5. 2026-06-16
   days on market $195,000 Active 43 DOM
6. 2026-06-15
   days on market $195,000 Active 42 DOM
7. 2026-06-14
   days on market $195,000 Active 40 DOM
8. 2026-06-13
   days on market $195,000 Active 39 DOM
9. 2026-06-10
   days on market $195,000 Active 37 DOM
10. 2026-06-09
    pricedays on market $195,000 Active 36 DOM

    Show marketing remark (426 chars)

    This charming cottage underwent a full renovation in 2023 and is move-in ready from top to bottom. Refinished hardwood floors, freshly painted ceilings, updated bedrooms and bathrooms, and a brand-new kitchen with stainless steel refrigerator, stove, microwave, and dishwasher -- every detail has been thoughtfully refreshed. Situated on a generous deep lot with partial fencing, this is exceptional value at this price point.

11. 2026-06-08
    days on market $200,000 Active 35 DOM
12. 2026-06-07
    days on market $200,000 Active 34 DOM
13. 2026-06-05
    days on market $200,000 Active 31 DOM
14. 2026-06-03
    days on market $200,000 Active 30 DOM
15. 2026-06-02
    days on market $200,000 Active 29 DOM
16. 2026-06-01
    days on market $200,000 Active 28 DOM
17. 2026-05-31
    days on market $200,000 Active 27 DOM
18. 2026-05-30
    days on market $200,000 Active 26 DOM
19. 2026-05-04
    listed $210,000 Active 431-char remark

    Show marketing remark (426 chars)

    This charming cottage underwent a full renovation in 2023 and is move-in ready from top to bottom. Refinished hardwood floors, freshly painted ceilings, updated bedrooms and bathrooms, and a brand-new kitchen with stainless steel refrigerator, stove, microwave, and dishwasher -- every detail has been thoughtfully refreshed. Situated on a generous deep lot with partial fencing, this is exceptional value at this price point.

20. 2026-05-04
    listed $210,000 Active 426-char remark

    Show marketing remark (426 chars)

    This charming cottage underwent a full renovation in 2023 and is move-in ready from top to bottom. Refinished hardwood floors, freshly painted ceilings, updated bedrooms and bathrooms, and a brand-new kitchen with stainless steel refrigerator, stove, microwave, and dishwasher -- every detail has been thoughtfully refreshed. Situated on a generous deep lot with partial fencing, this is exceptional value at this price point.

21. 2023-03-09
    soldstatus $183,000 Closed
22. 2023-02-24
    historical Active Under Contract
23. 2023-01-24
    listed $189,000 Active

    Show marketing remark (438 chars)

    Neat as a pin and cute as a button! This cottage has been completely renovated from the hardwood floors to the freshly painted ceilings, from the bedrooms to the bathrooms to the fully equipped, brand new kitchen. It's a rare gem in this price range. Located on a deep lot with partial fencing. Check it out - if you see it, you'll buy it! New stainless steel refrigerator, stove, microwave and dishwasher added since pictures were taken.

24. 2023-01-24
    listed $189,000

    Show marketing remark (438 chars)

    Neat as a pin and cute as a button! This cottage has been completely renovated from the hardwood floors to the freshly painted ceilings, from the bedrooms to the bathrooms to the fully equipped, brand new kitchen. It's a rare gem in this price range. Located on a deep lot with partial fencing. Check it out - if you see it, you'll buy it! New stainless steel refrigerator, stove, microwave and dishwasher added since pictures were taken.

ⓘ 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: $17,445
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$5,673
• Taxable loss: −$5,842
• Est. tax savings @ 24.0%: +$1,402
• After-tax cash flow: $-988/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): 5,150

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 (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 13% Slovak 2% Portuguese 1%
• Foreign-born: 0% · Canada

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: ▼ -19.50%
• Current HPI: 294.8074
• 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

+3.2% since first listed

10 events — show timeline

• 2026-06-09 Price Changed $195,000 AcadianaMLS
• 2026-06-09 Price Changed $195,000 GSREIN
• 2026-05-19 Price Changed $200,000 AcadianaMLS
• 2026-05-19 Price Changed $200,000 GSREIN
• 2026-05-04 Listed $210,000 GSREIN
• 2026-05-04 Listed $210,000 AcadianaMLS
• 2023-03-09 Sold (MLS) $183,000 GSREIN
• 2023-02-24 Contingent — GSREIN
• 2023-01-24 Listed $189,000 GSREIN
• 2023-01-24 Listed $189,000 AcadianaMLS