1012 Varnado St · Hammond, LA 70403

$160,000

3 bd · 1.5 ba · 1,093 sqft · SingleFamily public records · 17 Days on market

Built 1978

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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).

• Cash flow +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.1/10.0
• 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

Updated and move-in ready ranch-style home featuring approximately 1,100 SF of living area. Recent updates include kitchen, baths, flooring, and paint. Functional floor plan, spacious yard, and convenient location to schools, shopping, and dining. A great opportunity for first-time buyers, downsizers, or investors.

Key facts

• Spacious yard
• Recent updates
• Ranch-style home

Tags

• RANCH-STYLE HOME
• RECENT UPDATES
• SPACIOUS YARD
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Carport (one space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single-story; Brick construction; Shingle roof; Slab foundation; Average condition
• Construction: Built with brick
• Exterior features: Porch; City lot; Rectangular lot

Interior

• Kitchen: Oven; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Attic fan
• Interior features: Attic; Ceiling fan(s); Pantry; Pull-down attic stairs
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $60 ($721/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (9.2% below list).
• Recommended offer: $145k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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+, 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; 328 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 34% 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 $1k of loan paydown is wiped out by about $5k 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 17 days — a 2% lower offer ($158k) 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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 $145,296 (9.2% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.91% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $76,510
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
99 White St	0.50mi	3/2.0	1,000 (-8%)	9mo	$70,000	$70	53
110 Wells Dr	0.53mi	3/2.0	1,237 (+13%)	1mo	$70,000	$57	51

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: -16.7%
• Equity multiple: 0.42×
• Total profit: $-25,890
• Equity at exit: $23,857

10-year hold

• IRR: -14.2%
• Equity multiple: 0.28×
• Total profit: $-32,360
• Equity at exit: $13,834

Cash invested: $44,800 (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: 328
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,453 high
• Mortgage (P&I): −$839
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$67
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $60

Break-even live

Break-even rent $1,377

Max offer price $160,000

Occupancy floor 91%

Sensitivity live

Price	-10% $151	-5% $105	+0% $60	+5% $15	+10% $-30
Rent	-10% $-55	-5% $3	+0% $60	+5% $118	+10% $175
Rate	-1.0pp $141	-0.5pp $101	base $60	+0.5pp $19	+1.0pp $-24

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1600 Bauerle Rd Hammond, LA	1.0–2.0	1.0–2.0	884	$1,751	$1.98	45d	4	0.63mi
1002 S Pine St Hammond, LA	3.0	2.5	1324	$1,500	$1.13	45d	1	0.72mi
207 S Laurel St Unit B Hammond, LA	3.0	2.0	1100	$1,350	$1.23	45d	1	0.73mi
309 Hewitt Rd Unit B Hammond, LA	2.0	1.0	806	$1,350	$1.67	45d	1	0.76mi
204 W Clark St Hammond, LA	2.0	1.0	840	$900	$1.07	45d	1	0.91mi
209 Dixie Dr Hammond, LA	3.0	1.0	1100	$1,150	$1.05	45d	1	0.97mi
221 W Thomas St Unit A Hammond, LA	3.0	1.0	1400	$2,050	$1.46	45d	1	1.09mi
2617 Rue Saint Martin Hammond, LA	2.0	1.5	1399	$1,000	$0.71	45d	1	1.11mi
402 S Cherry St Hammond, LA	3.0	2.0	1400	$1,700	$1.21	45d	1	1.19mi
606 Rue Saint Martin Unit B Hammond, LA	2.0	1.5	1100	$900	$0.82	45d	1	1.21mi
100 S Cypress St Hammond, LA	2.0	2.5	1100	$1,750	$1.59	45d	1	1.27mi
16218 E Minnesota Park Rd Unit 3B Hammond, LA	2.0	2.5	1095	$1,450	$1.32	45d	1	1.46mi
42114 Gardens Blvd Unit B Hammond, LA	2.0	2.0	1343	$1,450	$1.08	45d	1	1.46mi
308 Alexander Dr Hammond, LA	3.0	2.0	1193	$1,390	$1.17	45d	1	1.46mi

Listing history 14 events

1. 2026-06-21
   days on market $160,000 Active 17 DOM
2. 2026-06-19
   days on market $160,000 Active 15 DOM
3. 2026-06-18
   days on market $160,000 Active 14 DOM
4. 2026-06-17
   days on market $160,000 Active 13 DOM
5. 2026-06-16
   days on market $160,000 Active 12 DOM
6. 2026-06-15
   days on market $160,000 Active 11 DOM
7. 2026-06-14
   days on market $160,000 Active 9 DOM
8. 2026-06-13
   days on market $160,000 Active 8 DOM
9. 2026-06-10
   days on market $160,000 Active 6 DOM
10. 2026-06-09
    days on market $160,000 Active 5 DOM
11. 2026-06-08
    days on market $160,000 Active 4 DOM
12. 2026-06-07
    days on market $160,000 Active 3 DOM
13. 2026-06-05
    remarks 316-char remark
14. 2026-06-05
    listed $160,000 Active 1 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: $682 · $57/mo
• Projected year-2 tax: $880 · $73/mo
• Expected delta: +$198/yr (+$17/mo · 29.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone A · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $17,436
• − Mortgage interest: −$8,962
• − Property taxes: −$682
• − Insurance: −$2,302
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$4,655
• Taxable loss: −$1,955
• Est. tax savings @ 24.0%: +$469
• After-tax cash flow: $1,191/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

+0.0% since first listed

2 events — show timeline

• 2026-06-04 Listed $160,000 AcadianaMLS
• 2026-06-04 Listed $160,000 GSREIN

Property tax history

+6.2%/yr

Latest (2025): $682 · +0.5% YoY. Source: county tax records.