906 East Merry Ave · Hammond, LA 70403

$145,000

3 bd · 2.0 ba · 728 sqft · SingleFamily public records · 87 Days on market

Built 1949 $199/sqft · 63% above area Est $134k · 8% over

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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 +16.4/30.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• ARV discount +3.9/15.0
• 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

Charming, fully renovated home ready to impress. This move-in-ready property features a brand new roof, fresh updates throughout, and a bright inviting layout. Enjoy the spacious fenced backyard for entertaining, pets, or relaxing in your own private space. With a clean modern feel, and a generous driveway for parking, this home offers both comfort and convenience at an affordable price. Don't miss this turnkey opportunity.

Key facts

• Generous driveway
• Fenced backyard
• New roof

Tags

• NEW ROOF
• FENCED BACKYARD
• GENEROUS DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-44 ($-526/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (5.4% below list).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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+, 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 Eastside Magnet (math 22% / reading 35%, grade F, #350 of 646 statewide, top 55%, 1,343 students, 68% 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 73% FRL track the district average.
• Market conditions: Rents flat; 328 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 ($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 $4k 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 87 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y ago 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.
• Current owner paid $14k; list at $145k implies a 936% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• 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 $136,300 (6.0% 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 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.95% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $134,363
• List price: $145,000
• Delta: 7.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.27×
• Total profit: $-29,779
• Equity at exit: $21,620

10-year hold

• IRR: -25.1%
• Equity multiple: -0.06×
• Total profit: $-43,089
• Equity at exit: $12,537

Cash invested: $40,600 (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 70403

• Home prices YoY: -34.1%
• Rents YoY: 0.3%
• Active inventory: 328
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-44

Break-even live

Break-even rent $1,427

Max offer price $138,657

Occupancy floor 98%

Sensitivity live

Price	-10% $56	-5% $6	+0% $-44	+5% $-94	+10% $-144
Rent	-10% $-152	-5% $-98	+0% $-44	+5% $10	+10% $65
Rate	-1.0pp $29	-0.5pp $-7	base $-44	+0.5pp $-81	+1.0pp $-120

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17597 Tangi Lake Dr Hammond, LA	1.0–3.0	1.0–2.5	1075	$1,500	$1.40	45d	1	1.30mi

Listing history 37 events

1. 2026-06-21
   days on market $145,000 Active 87 DOM
2. 2026-06-19
   days on market $145,000 Active 85 DOM
3. 2026-06-18
   days on market $145,000 Active 84 DOM
4. 2026-06-17
   days on market $145,000 Active 83 DOM
5. 2026-06-16
   days on market $145,000 Active 82 DOM
6. 2026-06-15
   days on market $145,000 Active 81 DOM
7. 2026-06-14
   days on market $145,000 Active 79 DOM
8. 2026-06-13
   days on market $145,000 Active 78 DOM
9. 2026-06-10
   days on market $145,000 Active 76 DOM
10. 2026-06-09
    days on market $145,000 Active 75 DOM
11. 2026-06-08
    days on market $145,000 Active 74 DOM
12. 2026-06-07
    days on market $145,000 Active 73 DOM
13. 2026-06-05
    days on market $145,000 Active 70 DOM
14. 2026-06-03
    days on market $145,000 Active 69 DOM
15. 2026-06-02
    days on market $145,000 Active 68 DOM
16. 2026-06-01
    days on market $145,000 Active 67 DOM
17. 2026-05-31
    days on market $145,000 Active 66 DOM
18. 2026-05-30
    days on market $145,000 Active 65 DOM
19. 2026-03-19
    listed $145,000 Active 427-char remark

    Show marketing remark (427 chars)

    Charming, fully renovated home ready to impress. This move-in-ready property features a brand new roof, fresh updates throughout, and a bright inviting layout. Enjoy the spacious fenced backyard for entertaining, pets, or relaxing in your own private space. With a clean modern feel, and a generous driveway for parking, this home offers both comfort and convenience at an affordable price. Don't miss this turnkey opportunity.

20. 2026-03-19
    listed $145,000 Active 427-char remark

    Show marketing remark (427 chars)

    Charming, fully renovated home ready to impress. This move-in-ready property features a brand new roof, fresh updates throughout, and a bright inviting layout. Enjoy the spacious fenced backyard for entertaining, pets, or relaxing in your own private space. With a clean modern feel, and a generous driveway for parking, this home offers both comfort and convenience at an affordable price. Don't miss this turnkey opportunity.

21. 2026-02-26
    historical $1,250
22. 2025-12-06
    listed $1,250
23. 2025-11-29
    price $148,500
24. 2025-11-12
    price $148,500
25. 2025-09-25
    listed $145,500 Active
26. 2023-07-27
    soldstatus $14,000 Closed
27. 2023-07-26
    status Pending
28. 2023-07-26
    status Active
29. 2023-07-07
    status Pending
30. 2023-07-05
    listed $15,000
31. 2023-07-05
    listed $15,000 Active
32. 2020-07-13
    soldstatus $8,500
33. 2020-06-19
    soldstatus $8,500 Closed
34. 2020-06-02
    status Pending
35. 2020-05-21
    price $9,000
36. 2020-05-04
    listed $9,000
37. 2020-05-04
    listed $12,000 Active

ⓘ 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 6/10 Major FEMA zone A · 69% 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: $16,457
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$2,228
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$4,218
• Taxable loss: −$2,919
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $175/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

+1511.1% since first listed

19 events — show timeline

• 2026-03-19 Listed $145,000 GSREIN
• 2026-03-19 Listed $145,000 AcadianaMLS
• 2026-02-26 Rental Removed $1,250 GSREIN
• 2025-12-06 Listed for Rent $1,250 GSREIN
• 2025-11-29 Price Changed $148,500 AcadianaMLS
• 2025-11-12 Price Changed $148,500 GSREIN
• 2025-09-25 Listed $145,500 AcadianaMLS
• 2023-07-27 Sold (MLS) $14,000 GSREIN
• 2023-07-26 Pending — GSREIN
• 2023-07-26 Relisted — GSREIN
• 2023-07-07 Pending — GSREIN
• 2023-07-05 Listed $15,000 GSREIN
• 2023-07-05 Listed $15,000 AcadianaMLS
• 2020-07-13 Sold (Public Records) $8,500 Public Records
• 2020-06-19 Sold (MLS) $8,500 GSREIN
• 2020-06-02 Pending — GSREIN
• 2020-05-21 Price Changed $9,000 GSREIN
• 2020-05-04 Listed $12,000 GSREIN
• 2020-05-04 Listed $9,000 AcadianaMLS

Property tax history

-4.3%/yr

Latest (2025): $143 · +0.5% YoY. Source: county tax records.