Norris IV B - Fairhope Plan · Hammond, LA 70454

$261,990

3 bd · 2.0 ba · 1,750 sqft · SingleFamily · 570 Days on market

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +2.0/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of comfort, style, and energy efficiency with the Norris IV B floor plan by DSLD Homes. This beautifully designed 3-bedroom, 2-bathroom home features 1,750 square feet of living space and a total area of 2,347 square feet, making it an ideal choice for families, first-time buyers, or those looking to downsize without compromising on quality. The home's open floor plan creates a welcoming and versatile space that's perfect for entertaining or everyday living. A stylish brick and siding exterior provides eye-catching curb appeal, while inside, you'll enjoy features like recessed can lighting in the kitchen, a walk-in pantry, and modern finishes throughout. Retreat to the spacious master suite, which offers a double vanity, separate shower, and a large walk-in closet, providing both luxury and practicality. The layout also includes a two-car garage and a covered rear patio, extending your living space outdoors for year-round enjoyment. With smart design and energy-efficient construction, the Norris IV B delivers lasting value, low utility costs, and a home you'll be proud to own.

Key facts

• Open floor plan
• Covered rear patio
• Double master vanity

Tags

• OPEN FLOOR PLAN
• DOUBLE MASTER VANITY
• WALK-IN MASTER CLOSET
• SEPARATE MASTER SHOWER
• WALK-IN PANTRY
• COVERED REAR PATIO

🏗️ New construction. The $261,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $295,487.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $262k.

Deal economics

• At list price, monthly cash flow is $-329 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (17.2% below list).
• Recommended offer: $217k (17.2% 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; 526 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).
• This rent runs 36% 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 $9k 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 570 days — a 12% lower offer ($231k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $216,875 (17.2% 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 570 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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?
8. 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.
9. 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.
10. 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: 0.73% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.77%
• DSCR: 0.79
• GRM: 11.4

CMA / ARV

• ARV (median comp): $295,487
• List price: $261,990
• Delta: -11.34%
• 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
39512 White Sand Ln	0.39mi	3/2.0	1,750 (0%)	3mo	$265,990	$152	79
39413 Fairhope Dr	0.37mi	3/2.0	1,825 (+4%)	1mo	$272,633	$149	75
39447 Fairhope Dr	0.37mi	3/2.0	1,825 (+4%)	5mo	$269,957	$148	71
39642 Fairhope Dr	0.09mi	4/2.0 (+1)	1,935 (+11%)	3mo	$268,000	$139	70
39593 White Sand Ln	0.20mi	3/2.0	1,939 (+11%)	4mo	$299,000	$154	69
25308 Kingfisher Dr	0.56mi	3/2.0	1,718 (-2%)	4mo	$265,722	$155	67
25352 Blue Heron Dr	0.42mi	3/2.0	1,887 (+8%)	0mo	$279,060	$148	67
39441 White Sand Ln	0.49mi	3/2.0	1,825 (+4%)	4mo	$275,679	$151	67
39586 White Sand Ln	0.18mi	4/3.0 (+1)	1,969 (+12%)	4mo	$294,980	$150	59
39509 White Sand Ln	0.39mi	4/2.0 (+1)	1,935 (+11%)	3mo	$279,468	$144	57
39397 Fairhope Dr	0.37mi	4/3.0 (+1)	1,969 (+12%)	0mo	$302,212	$153	53
39478 White Sand Ln	0.44mi	4/2.0 (+1)	1,992 (+14%)	3mo	$299,170	$150	49

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: -27.0%
• Equity multiple: 0.11×
• Total profit: $-73,776
• Equity at exit: $44,058

10-year hold

• IRR: -35.5%
• Equity multiple: -0.34×
• Total profit: $-110,607
• Equity at exit: $25,548

Cash invested: $82,736 (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: 526
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$1,550
• Tax est. 1.5%: −$369 /mo · $4,432/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-329

Break-even live

Break-even rent $2,585

Max offer price $247,919

Occupancy floor —

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: $73,872
• Closing costs: $8,865
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40531 Cypress Reserve Blvd Ponchatoula, LA	4.0	2.5	2597	$2,750	$1.06	43d	1	0.85mi
41095 Mersanger Rd Ponchatoula, LA	3.0	2.0	1510	$1,950	$1.29	43d	1	1.20mi

Listing history 18 events

1. 2026-06-19
   days on market $261,990 Active 570 DOM
2. 2026-06-18
   days on market $261,990 Active 569 DOM
3. 2026-06-17
   days on market $261,990 Active 568 DOM
4. 2026-06-16
   days on market $261,990 Active 567 DOM
5. 2026-06-15
   days on market $261,990 Active 566 DOM
6. 2026-06-14
   days on market $261,990 Active 564 DOM
7. 2026-06-13
   days on market $261,990 Active 563 DOM
8. 2026-06-10
   days on market $261,990 Active 561 DOM
9. 2026-06-09
   days on market $261,990 Active 560 DOM
10. 2026-06-08
    days on market $261,990 Active 559 DOM
11. 2026-06-07
    days on market $261,990 Active 558 DOM
12. 2026-06-05
    days on market $261,990 Active 555 DOM
13. 2026-06-03
    days on market $261,990 Active 554 DOM
14. 2026-06-02
    days on market $261,990 Active 553 DOM
15. 2026-06-01
    days on market $261,990 Active 552 DOM
16. 2026-05-31
    days on market $261,990 Active 551 DOM
17. 2026-05-30
    days on market $261,990 Active 550 DOM
18. 2024-11-26
    listed $261,990 Active 1120-char remark

    Show marketing remark (1120 chars)

    Discover the perfect blend of comfort, style, and energy efficiency with the Norris IV B floor plan by DSLD Homes. This beautifully designed 3-bedroom, 2-bathroom home features 1,750 square feet of living space and a total area of 2,347 square feet, making it an ideal choice for families, first-time buyers, or those looking to downsize without compromising on quality. The home's open floor plan creates a welcoming and versatile space that's perfect for entertaining or everyday living. A stylish brick and siding exterior provides eye-catching curb appeal, while inside, you'll enjoy features like recessed can lighting in the kitchen, a walk-in pantry, and modern finishes throughout. Retreat to the spacious master suite, which offers a double vanity, separate shower, and a large walk-in closet, providing both luxury and practicality. The layout also includes a two-car garage and a covered rear patio, extending your living space outdoors for year-round enjoyment. With smart design and energy-efficient construction, the Norris IV B delivers lasting value, low utility costs, and a home you'll be proud to own.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,025
• − Mortgage interest: −$16,552
• − Property taxes: −$4,432
• − Insurance: −$1,477
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$8,596
• Taxable loss: −$9,197
• Est. tax savings @ 24.0%: +$2,207
• After-tax cash flow: $-1,738/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

1 event — show timeline

• 2024-11-26 Listed $261,990 Zillow