600 E Merry Ave · Hammond, LA 70403

$80,000

3 bd · 1.5 ba · 1,300 sqft · SingleFamily public records · 145 Days on market

Built 1919 7,405 sqft lot $62/sqft · 54% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

The seller will review all serious cash offers. With flexible space and strong upside potential, this home offers multiple options when completing the remodel. The property features fresh exterior paint, new sheetrock, a new back porch, and a nice-sized yard with a chain-link fence, adding to its overall appeal for investors or buyers looking to add value.

Key facts

• Chain-link fence
• New sheetrock
• New back porch

Tags

• FRESH EXTERIOR PAINT
• NEW SHEETROCK
• NEW BACK PORCH
• NICE-SIZED YARD
• CHAIN-LINK FENCE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.7% 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+, 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; 329 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 39% 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 $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.3% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $55k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1919 — 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.08% ✓
• Cap rate: 18.72%
• Cash-on-cash: 44.37%
• DSCR: 2.97
• GRM: 4.0

CMA / ARV

• ARV (median comp): $176,294
• List price: $80,000
• Delta: -54.62%
• 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
910 S Holly St	0.36mi	3/1.5	1,324 (+2%)	11mo	$189,000	$143	71
1005 E Thomas St	0.41mi	3/1.0	1,365 (+5%)	1mo	$110,000	$81	70
801 S Chestnut St	0.22mi	3/1.0	1,235 (-5%)	13mo	$135,000	$109	69
501 S Holly St	0.13mi	3/2.0	1,480 (+14%)	4mo	$222,000	$150	65
803 S Chestnut St	0.23mi	3/1.0	1,133 (-13%)	2mo	$155,000	$137	64
44384 Easy St	0.48mi	3/1.0	1,282 (-1%)	14mo	$50,000	$39	62
17182 E Park Ave	0.66mi	3/2.0	1,259 (-3%)	1mo	$218,000	$173	61
1006 S Chestnut St	0.36mi	3/1.0	1,198 (-8%)	14mo	$135,000	$113	56
506 E Church St	0.47mi	3/1.0	1,174 (-10%)	7mo	$49,000	$42	54
1100 S Oak St	0.61mi	4/2.0 (+1)	1,349 (+4%)	7mo	$105,000	$78	53
303 E Park Ave	0.19mi	2/2.0 (-1)	1,128 (-13%)	14mo	$185,000	$164	51
44049 Fern St	0.72mi	3/2.0	1,447 (+11%)	2mo	$225,000	$155	44

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: 30.5%
• Equity multiple: 2.23×
• Total profit: $27,511
• Equity at exit: $11,928

10-year hold

• IRR: 36.1%
• Equity multiple: 3.90×
• Total profit: $64,906
• Equity at exit: $6,917

Cash invested: $22,400 (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: 329
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,665 high
• Mortgage (P&I): −$420
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$33
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $703

Break-even live

Break-even rent $776

Max offer price $80,000

Occupancy floor 53%

Sensitivity live

Price	-10% $748	-5% $726	+0% $703	+5% $680	+10% $658
Rent	-10% $571	-5% $637	+0% $703	+5% $769	+10% $835
Rate	-1.0pp $743	-0.5pp $723	base $703	+0.5pp $682	+1.0pp $661

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 E Park Ave Hammond, LA	3.0	2.0	1800	$1,700	$0.94	44d	1	0.09mi
402 S Cherry St Hammond, LA	3.0	2.0	1400	$1,700	$1.21	44d	1	0.23mi
17019 E Louisiana Ave Hammond, LA	3.0	2.0	1723	$1,995	$1.16	44d	1	0.39mi
100 S Cypress St Hammond, LA	2.0	2.5	1100	$1,750	$1.59	44d	1	0.41mi
221 W Thomas St Unit A Hammond, LA	3.0	1.0	1400	$2,050	$1.46	44d	1	0.58mi
408 E Michigan St Hammond, LA	2.0	1.0	1222	$1,350	$1.10	44d	1	0.65mi
1002 S Pine St Hammond, LA	3.0	2.5	1324	$1,500	$1.13	44d	1	0.67mi
44347 Simpson Pl Unit 1 Hammond, LA	2.0	1.0	960	$950	$0.99	44d	1	0.82mi
207 S Laurel St Unit B Hammond, LA	3.0	2.0	1100	$1,350	$1.23	44d	1	0.99mi
1600 Bauerle Rd Hammond, LA	1.0–2.0	1.0–2.0	884	$1,751	$1.98	44d	4	1.05mi
43215 Creek Cir #507 Hammond, LA	3.0	2.5	1663	$1,700	$1.02	44d	1	1.14mi
16218 E Minnesota Park Rd Unit 3B Hammond, LA	2.0	2.5	1095	$1,450	$1.32	44d	1	1.24mi

Listing history 26 events

1. 2026-06-19
   days on market $80,000 Active 145 DOM
2. 2026-06-18
   days on market $80,000 Active 144 DOM
3. 2026-06-17
   days on market $80,000 Active 143 DOM
4. 2026-06-16
   days on market $80,000 Active 142 DOM
5. 2026-06-15
   days on market $80,000 Active 141 DOM
6. 2026-06-14
   days on market $80,000 Active 139 DOM
7. 2026-06-13
   days on market $80,000 Active 138 DOM
8. 2026-06-10
   days on market $80,000 Active 136 DOM
9. 2026-06-09
   days on market $80,000 Active 135 DOM
10. 2026-06-08
    days on market $80,000 Active 134 DOM
11. 2026-06-07
    days on market $80,000 Active 133 DOM
12. 2026-06-05
    days on market $80,000 Active 130 DOM
13. 2026-06-03
    days on market $80,000 Active 129 DOM
14. 2026-06-02
    days on market $80,000 Active 128 DOM
15. 2026-06-01
    days on market $80,000 Active 127 DOM
16. 2026-05-31
    days on market $80,000 Active 126 DOM
17. 2026-05-30
    days on market $80,000 Active 125 DOM
18. 2026-01-08
    listed $80,000 Active

    Show marketing remark (358 chars)

    The seller will review all serious cash offers. With flexible space and strong upside potential, this home offers multiple options when completing the remodel. The property features fresh exterior paint, new sheetrock, a new back porch, and a nice-sized yard with a chain-link fence, adding to its overall appeal for investors or buyers looking to add value.

19. 2026-01-08
    listed $80,000 Active 358-char remark

    Show marketing remark (358 chars)

    The seller will review all serious cash offers. With flexible space and strong upside potential, this home offers multiple options when completing the remodel. The property features fresh exterior paint, new sheetrock, a new back porch, and a nice-sized yard with a chain-link fence, adding to its overall appeal for investors or buyers looking to add value.

20. 2026-01-08
    listed $80,000 Active

    Show marketing remark (358 chars)

    The seller will review all serious cash offers. With flexible space and strong upside potential, this home offers multiple options when completing the remodel. The property features fresh exterior paint, new sheetrock, a new back porch, and a nice-sized yard with a chain-link fence, adding to its overall appeal for investors or buyers looking to add value.

21. 2024-09-30
    soldstatus $55,000
22. 2024-09-19
    status Pending
23. 2024-08-31
    price $60,000
24. 2024-08-18
    listed $60,000
25. 2024-08-18
    listed $69,900 Active
26. 1988-05-16
    soldstatus $19,648

ⓘ 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: $416 · $35/mo
• Projected year-2 tax: $440 · $37/mo
• Expected delta: +$24/yr (+$2/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone A · 22% 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: $19,985
• − Mortgage interest: −$4,481
• − Property taxes: −$416
• − Insurance: −$1,902
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$2,327
• Taxable income: $7,660
• Est. tax owed @ 24.0%: −$1,838
• After-tax cash flow: $6,597/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

+307.2% since first listed

9 events — show timeline

• 2026-01-08 Listed $80,000 GSREIN
• 2026-01-08 Listed $80,000 AcadianaMLS
• 2026-01-08 Listed $80,000 AcadianaMLS
• 2024-09-30 Sold (Public Records) $55,000 Public Records
• 2024-09-19 Pending — GBRMLS
• 2024-08-31 Price Changed $60,000 GBRMLS
• 2024-08-18 Listed $69,900 GBRMLS
• 2024-08-18 Listed $60,000 AcadianaMLS
• 1988-05-16 Sold (Public Records) $19,648 Public Records

Property tax history

+1.8%/yr

Latest (2025): $416 · -21.8% YoY. Source: county tax records.