22321 Dixie Rue Ln · Hammond, LA 70455

$350,000

1 bd · 1.0 ba · 404 sqft · MultiFamily · 3 Days on market

Built 2024 Fair condition

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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 +13.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Outstanding Investment Opportunity in Robert, Louisiana! Four income producing tiny homes in a row with great rental history and low expenses/maintenance. Gross rental income is approximately $3,200 per month ($38,400 annually) at 100% occupancy. Three of the four tiny homes are leased (one is coming available in July); and one is currently available for $825 per month. Located just off Highway 190 in close proximity to I-12, employment, schools, Hammond and Covington. Each tiny home is 404 livable square feet plus a covered porch; each features one bedroom, one bathroom, kitchen, living area, and a space for a stackable washer and dryer. All four units have identical layout, square footage, and amenities. Income and expenses are available. All to be sold as a one package (not separately).

Key facts

• Covered porch
• Great rental history
• 2 parking spots

Tags

• INVESTMENT OPPORTUNITY
• INCOME PRODUCING TINY HOMES
• GREAT RENTAL HISTORY
• COVERED PORCH
• CLOSE PROXIMITY TO I-12

Property features AI

Exterior

• Parking: Driveway with two parking spaces
• Utilities: Public water; Septic tank sewer
• Home design: Single-story; Raised foundation; Very good condition
• Construction: Metal roof; Hardboard siding; Modular/Prefab construction; Built with a raised foundation
• Exterior features: Porch; Outside city limits; Rectangular lot (163 x 100)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Window unit heating; Central air conditioning; Window unit air conditioning
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-401 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $309k (11.6% below list).
• Recommended offer: $292k (16.6% below list) — sets the bar for cash-flow.
• Cap rate 6.4% vs local median 5.0% in Hammond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 86 active listings in the ZIP; 1,085 units permitted in Tangipahoa Parish in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $11k appreciation (3.2% local appreciation)).
• Tangipahoa County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $291,967 (16.6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.21×
• Total profit: $20,899
• Equity at exit: $161,600

10-year hold

• IRR: 6.9%
• Equity multiple: 2.08×
• Total profit: $105,795
• Equity at exit: $252,380

Cash invested: $98,000 (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 70455

• Home prices YoY: 2.0%
• Active inventory: 86
• Price-to-rent: 37.7×

Monthly cashflow live

• Estimated rent: $3,094 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $-401

Break-even live

Break-even rent $3,602

Max offer price $291,967

Occupancy floor —

Sensitivity live

Price	-10% $-159	-5% $-280	+0% $-401	+5% $-522	+10% $-643
Rent	-10% $-645	-5% $-523	+0% $-401	+5% $-279	+10% $-157
Rate	-1.0pp $-225	-0.5pp $-312	base $-401	+0.5pp $-492	+1.0pp $-584

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,096
Total (4 units)			$3,094

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $350,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark

   Show marketing remark (800 chars)

   Outstanding Investment Opportunity in Robert, Louisiana! Four income producing tiny homes in a row with great rental history and low expenses/maintenance. Gross rental income is approximately $3,200 per month ($38,400 annually) at 100% occupancy. Three of the four tiny homes are leased (one is coming available in July); and one is currently available for $825 per month. Located just off Highway 190 in close proximity to I-12, employment, schools, Hammond and Covington. Each tiny home is 404 livable square feet plus a covered porch; each features one bedroom, one bathroom, kitchen, living area, and a space for a stackable washer and dryer. All four units have identical layout, square footage, and amenities. Income and expenses are available. All to be sold as a one package (not separately).

3. 2026-06-18
   listed $350,000 Active 1 DOM

   Show marketing remark (800 chars)

   Outstanding Investment Opportunity in Robert, Louisiana! Four income producing tiny homes in a row with great rental history and low expenses/maintenance. Gross rental income is approximately $3,200 per month ($38,400 annually) at 100% occupancy. Three of the four tiny homes are leased (one is coming available in July); and one is currently available for $825 per month. Located just off Highway 190 in close proximity to I-12, employment, schools, Hammond and Covington. Each tiny home is 404 livable square feet plus a covered porch; each features one bedroom, one bathroom, kitchen, living area, and a space for a stackable washer and dryer. All four units have identical layout, square footage, and amenities. Income and expenses are available. All to be sold as a one package (not separately).

ⓘ 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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,128
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$6,868
• − Repairs & maintenance: −$2,970
• − Management: −$2,970
• − Depreciation: −$10,182
• Taxable loss: −$10,718
• Est. tax savings @ 24.0%: +$2,572
• After-tax cash flow: $-2,240/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and updates to its exterior, roof, flooring, and interior walls/paint, but presents an excellent investment opportunity with a strong rental history and low expenses.

Repairs flagged

• Major exterior siding — Significant damage and wear visible.
• Major roof — Significant wear and potential leaks.
• Major flooring — Worn and possibly damaged, requiring replacement.
• Major interior walls/paint — Needs freshening and touch-ups to improve appearance and condition.

Value-add opportunities

• Both exterior painting — Fresh paint can improve curb appeal and home value.
• Both roof repair — A repaired roof will prevent further damage and improve the home's value.
• Both flooring replacement — New flooring will enhance the home's appearance and functionality.
• Both interior painting — Fresh paint will improve the home's appearance and make it more attractive to potential buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage and wear visible.	Major	$15,000–50,000
roof · Significant wear and potential leaks.	Major	$15,000–50,000
flooring · Worn and possibly damaged, requiring replacement.	Major	$15,000–50,000
interior walls/paint · Needs freshening and touch-ups to improve appearance and condition.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior painting — Fresh paint can improve curb appeal and home value. ↑
• Both roof repair — A repaired roof will prevent further damage and improve the home's value. ↑
• Both flooring replacement — New flooring will enhance the home's appearance and functionality. ↑
• Both interior painting — Fresh paint will improve the home's appearance and make it more attractive to potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 2,456

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 (80%)
• Race & ethnicity: White 80% Asian 19%
• Common ancestry: Lithuanian 15% Slovak 1% Italian 1%
• Foreign-born: 14% · Philippines, Canada
• Languages at home: 83% English-only · Other Asian/Pacific 17%

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: ▲ 3.21%
• Current HPI: 166.5078
• 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

+0.0% since first listed

4 events — show timeline

• 2026-06-18 Listed $350,000 AcadianaMLS
• 2026-06-18 Listed $350,000 AcadianaMLS
• 2026-06-18 Listed $350,000 GSREIN
• 2026-06-18 Listed $350,000 GSREIN