42438 Wood Ave · Hammond, LA 70454

$274,000

3 bd · 2.0 ba · 1,688 sqft · SingleFamily public records · 43 Days on market

Built 2008 $162/sqft · at area comps Est $286k · at est. $22/mo HOA · 1% of rent

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Why this score? — see what drove the C- 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 +19.9/30.0
• ARV discount +9.4/15.0
• DSCR +6.3/10.0
• 1% rule +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful custom-built 3-bedroom, 2-bath home featuring an open-concept layout with a desirable split floor plan with formal dining. The spacious kitchen offers granite countertops, stainless steel appliances, and plenty of cabinet space, making it great for both everyday living and entertaining. Enjoy easy maintenance with no carpet throughout the home. Step outside to a large fenced backyard with available boat storage, great for outdoor living and extra convenience. Located in preferred Flood Zone X. Roof and HVAC replaced in 2022.

Key facts

• Split floor plan
• Boat storage
• Granite countertops

Tags

• OPEN-CONCEPT LAYOUT
• SPLIT FLOOR PLAN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE FENCED BACKYARD
• BOAT STORAGE

Property features AI

Finance

• Other: Oversized, rectangular lot (dimensions approximately 90 x 136 x 90 x 140); Located outside city limits; Energy-efficient lighting and windows
• HOA & community: Homeowner association with annual fee of $264

Exterior

• Parking: Garage with opener; Two garage spaces; RV access/parking; Boat parking
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single-story home; Excellent condition
• Construction: Brick, stucco, and vinyl siding exterior; Shingle roof; Slab foundation; HVAC and roof updated 2025 (primary shower noted)
• Exterior features: Fenced yard; Covered oversized porch

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Granite counters; Stainless steel appliances
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Granite counters; Stainless steel appliances; Screens on windows; Gas fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $274k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/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 $258k (5.7% below list).
• Recommended offer: $258k (5.7% 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+, 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 43% 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 $8k 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 43 days — a 3% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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.

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 $258,388 (5.7% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 8.8

CMA / ARV

• ARV (median comp): $285,857
• List price: $274,000
• Delta: -4.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20278 Bella Gardens Cir	0.13mi	3/2.0	1,655 (-2%)	3mo	$215,000	$130	88
42375 Wood Ave	0.12mi	3/2.0	1,887 (+12%)	4mo	$255,000	$135	72
19078 Greenleaf Cir	0.45mi	3/2.0	1,714 (+2%)	7mo	$245,000	$143	70
42467 Harlan Pl	0.10mi	4/2.0 (+1)	1,875 (+11%)	6mo	$279,900	$149	67
42321 Cy Cir	0.25mi	3/2.0	1,887 (+12%)	5mo	$258,000	$137	65
20291 Clemson Way	0.54mi	3/2.0	1,718 (+2%)	9mo	$258,000	$150	64
19089 Greenleaf Cir	0.40mi	3/2.0	1,515 (-10%)	3mo	$213,999	$141	62
42578 Pelican Dr	0.22mi	3/2.0	1,475 (-13%)	10mo	$195,000	$132	61
20195 Deveron Dr	0.63mi	3/2.0	1,718 (+2%)	9mo	$250,000	$146	60
20316 Clemson Way	0.57mi	4/2.0 (+1)	1,858 (+10%)	2mo	$279,900	$151	50
42059 Wood Ave	0.71mi	3/2.0	1,825 (+8%)	9mo	$253,675	$139	46
20151 Carolina Ct	0.74mi	3/2.0	1,887 (+12%)	5mo	$260,000	$138	42

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: -10.7%
• Equity multiple: 0.62×
• Total profit: $-29,256
• Equity at exit: $40,854

10-year hold

• IRR: -4.8%
• Equity multiple: 0.72×
• Total profit: $-21,803
• Equity at exit: $23,691

Cash invested: $76,720 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,584 medium
• Mortgage (P&I): −$1,437
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$114
• HOA: −$22
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $332

Break-even live

Break-even rent $2,163

Max offer price $274,000

Occupancy floor 82%

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43293 Quiet Lake Dr Hammond, LA	4.0	2.0	1850	$3,840	$2.08	44d	1	0.77mi
19216 Dr John Lambert Dr Hammond, LA	1.0–3.0	1.0–2.0	995	$1,808	$1.82	14d	10	0.99mi
42318 Andrea Ln Ponchatoula, LA	3.0	2.0	1291	$1,800	$1.39	44d	1	1.45mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 46 events

1. 2026-06-19
   days on market $274,000 Active 43 DOM
2. 2026-06-18
   days on market $274,000 Active 42 DOM
3. 2026-06-17
   days on market $274,000 Active 41 DOM
4. 2026-06-16
   days on market $274,000 Active 40 DOM
5. 2026-06-15
   days on market $274,000 Active 39 DOM
6. 2026-06-14
   days on market $274,000 Active 37 DOM
7. 2026-06-13
   days on market $274,000 Active 36 DOM
8. 2026-06-10
   days on market $274,000 Active 34 DOM
9. 2026-06-09
   days on market $274,000 Active 33 DOM
10. 2026-06-08
    days on market $274,000 Active 32 DOM
11. 2026-06-07
    days on market $274,000 Active 31 DOM
12. 2026-06-05
    days on market $274,000 Active 28 DOM
13. 2026-06-03
    days on market $274,000 Active 27 DOM
14. 2026-06-02
    days on market $274,000 Active 26 DOM
15. 2026-06-01
    days on market $274,000 Active 25 DOM
16. 2026-05-31
    days on market $274,000 Active 24 DOM
17. 2026-05-30
    days on market $274,000 Active 23 DOM
18. 2026-05-07
    listed $275,000 Active 540-char remark

    Show marketing remark (540 chars)

    Beautiful custom-built 3-bedroom, 2-bath home featuring an open-concept layout with a desirable split floor plan with formal dining. The spacious kitchen offers granite countertops, stainless steel appliances, and plenty of cabinet space, making it great for both everyday living and entertaining. Enjoy easy maintenance with no carpet throughout the home. Step outside to a large fenced backyard with available boat storage, great for outdoor living and extra convenience. Located in preferred Flood Zone X. Roof and HVAC replaced in 2022.

19. 2026-05-07
    listed $275,000 Active 540-char remark

    Show marketing remark (540 chars)

    Beautiful custom-built 3-bedroom, 2-bath home featuring an open-concept layout with a desirable split floor plan with formal dining. The spacious kitchen offers granite countertops, stainless steel appliances, and plenty of cabinet space, making it great for both everyday living and entertaining. Enjoy easy maintenance with no carpet throughout the home. Step outside to a large fenced backyard with available boat storage, great for outdoor living and extra convenience. Located in preferred Flood Zone X. Roof and HVAC replaced in 2022.

20. 2026-03-23
    price $264,000
21. 2026-03-23
    price $264,000
22. 2026-03-05
    price $267,000
23. 2026-03-05
    price $267,000
24. 2026-02-19
    price $270,000
25. 2026-02-19
    price $270,000
26. 2026-02-10
    price $274,900
27. 2026-02-10
    price $274,900
28. 2026-02-05
    price $280,000
29. 2026-02-05
    price $280,000
30. 2026-01-29
    price $290,000
31. 2026-01-29
    price $290,000
32. 2026-01-22
    listed $295,000 Active
33. 2026-01-22
    listed $295,000 Active
34. 2022-08-12
    soldstatus $258,000
35. 2022-08-11
    soldstatus $258,000 Closed
36. 2022-07-11
    status Pending
37. 2022-07-06
    listed $258,000
38. 2022-07-06
    listed $258,000 Active
39. 2013-08-23
    soldstatus $180,000
40. 2013-08-22
    soldstatus $180,000
41. 2013-04-23
    listed $188,000
42. 2013-04-23
    listed $188,000
43. 2008-01-18
    soldstatus $216,000
44. 2008-01-15
    soldstatus $216,000
45. 2007-12-14
    listed $225,000
46. 2007-12-14
    listed $225,000

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $1,631 · $136/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,007
• − Mortgage interest: −$15,348
• − Property taxes: −$1,631
• − Insurance: −$1,370
• − Repairs & maintenance: −$2,481
• − Management: −$2,481
• − HOA: −$264
• − Depreciation: −$7,971
• Taxable loss: −$539
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $4,117/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

+21.8% since first listed

31 events — show timeline

• 2026-05-27 Price Changed $274,000 AcadianaMLS
• 2026-05-27 Price Changed $274,000 GSREIN
• 2026-05-07 Listed $275,000 GSREIN
• 2026-05-07 Listed $275,000 AcadianaMLS
• 2026-03-23 Price Changed $264,000 AcadianaMLS
• 2026-03-23 Price Changed $264,000 GBRMLS
• 2026-03-05 Price Changed $267,000 AcadianaMLS
• 2026-03-05 Price Changed $267,000 GBRMLS
• 2026-02-19 Price Changed $270,000 AcadianaMLS
• 2026-02-19 Price Changed $270,000 GBRMLS
• 2026-02-10 Price Changed $274,900 AcadianaMLS
• 2026-02-10 Price Changed $274,900 GBRMLS
• 2026-02-05 Price Changed $280,000 AcadianaMLS
• 2026-02-05 Price Changed $280,000 GBRMLS
• 2026-01-29 Price Changed $290,000 AcadianaMLS
• 2026-01-29 Price Changed $290,000 GBRMLS
• 2026-01-22 Listed $295,000 GBRMLS
• 2026-01-22 Listed $295,000 AcadianaMLS
• 2022-08-12 Sold (Public Records) $258,000 Public Records
• 2022-08-11 Sold (MLS) $258,000 GSREIN
• 2022-07-11 Pending — GSREIN
• 2022-07-06 Listed $258,000 GSREIN
• 2022-07-06 Listed $258,000 AcadianaMLS
• 2013-08-23 Sold (Public Records) $180,000 Public Records
• 2013-08-22 Sold (MLS) $180,000 GSREIN
• 2013-04-23 Listed $188,000 AcadianaMLS
• 2013-04-23 Listed $188,000 GSREIN
• 2008-01-18 Sold (Public Records) $216,000 Public Records
• 2008-01-15 Sold (MLS) $216,000 GSREIN
• 2007-12-14 Listed $225,000 AcadianaMLS
• 2007-12-14 Listed $225,000 GSREIN

Property tax history

+0.5%/yr

Latest (2025): $1,631 · +1.0% YoY. Source: county tax records.