607 E Illinois St · Hammond, LA 70403

$140,000

3 bd · 2.0 ba · 1,088 sqft · SingleFamily public records · 2 Days on market

Built 1986 4,791 sqft lot Est $127k · 10% over

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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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +6.1/10.0
• Livability +3.5/5.0
• ARV discount +3.0/15.0
• 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

3 bed 2 bath with new roof and new AC! Flood zone X and has never flooded.

Key facts

• Never flooded
• New roof
• 4,791 sq ft lot

Tags

• STRONG TENANT HISTORY
• CURRENT RENTAL INCOME
• IMMEDIATE CASH FLOW POTENTIAL
• NEVER FLOODED
• NEW ROOF

Property features AI

Exterior

• Utilities: Electric service: Entergy
• Home design: Single family residence
• Construction: Composition roof
• Exterior features: Chain link fencing; Workshop (outbuilding)

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Two bedrooms (Bedroom 1, Bedroom 2)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living Room; Kitchen; Bedroom 1; Bedroom 2

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.6% 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 44d 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 36% 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 $968 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 26y ago; this cycle's ask is 17% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $120k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $140,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.84%
• DSCR: 1.53
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $127,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 E Louisiana Ave	0.11mi	3/2.0	1,028 (-6%)	1mo	$140,000	$136	85
803 S Chestnut St	0.07mi	3/1.0	1,133 (+4%)	2mo	$155,000	$137	85
506 S Olives St	0.16mi	3/2.0	1,008 (-7%)	7mo	$65,250	$65	75
809 S Chestnut St	0.09mi	3/2.0	1,150 (+6%)	15mo	$151,500	$132	74
406 E Iowa Ave	0.13mi	2/2.0 (-1)	1,000 (-8%)	2mo	$245,000	$245	73
805 E Illinois St	0.15mi	3/1.0	1,041 (-4%)	12mo	$112,500	$108	72
303 E Park Ave	0.24mi	2/2.0 (-1)	1,128 (+4%)	14mo	$185,000	$164	66
801 S Chestnut St	0.06mi	3/1.0	1,235 (+14%)	13mo	$135,000	$109	60
1006 S Chestnut St	0.18mi	3/1.0	1,198 (+10%)	14mo	$135,000	$113	59
601 S Cherry St	0.25mi	3/1.0	1,176 (+8%)	19mo	$128,000	$109	55
305 Noah James Dr	0.39mi	2/1.0 (-1)	1,030 (-5%)	14mo	$120,000	$117	52
506 E Church St	0.65mi	3/1.0	1,174 (+8%)	7mo	$49,000	$42	46

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-2,165
• Equity at exit: $20,874

10-year hold

• IRR: 5.4%
• Equity multiple: 1.35×
• Total profit: $13,844
• Equity at exit: $12,105

Cash invested: $39,200 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$734
• Tax from tax record: −$43 /mo · $516/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $387

Break-even live

Break-even rent $1,058

Max offer price $140,000

Occupancy floor 70%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 S Cherry St Hammond, LA	3.0	2.0	1400	$1,700	$1.21	43d	1	0.33mi
100 S Cypress St Hammond, LA	2.0	2.5	1100	$1,750	$1.59	43d	1	0.55mi
1002 S Pine St Hammond, LA	3.0	2.5	1324	$1,500	$1.13	43d	1	0.63mi
221 W Thomas St Unit A Hammond, LA	3.0	1.0	1400	$2,050	$1.46	43d	1	0.68mi
309 Hewitt Rd Unit B Hammond, LA	2.0	1.0	806	$1,350	$1.67	43d	1	0.77mi
44347 Simpson Pl Unit 1 Hammond, LA	2.0	1.0	960	$950	$0.99	43d	1	0.79mi
408 E Michigan St Hammond, LA	2.0	1.0	1222	$1,350	$1.10	43d	1	0.80mi
1600 Bauerle Rd Hammond, LA	1.0–2.0	1.0–2.0	884	$1,751	$1.98	43d	4	0.97mi
207 S Laurel St Unit B Hammond, LA	3.0	2.0	1100	$1,350	$1.23	43d	1	1.05mi
16218 E Minnesota Park Rd Unit 3B Hammond, LA	2.0	2.5	1095	$1,450	$1.32	43d	1	1.10mi
204 W Clark St Hammond, LA	2.0	1.0	840	$900	$1.07	43d	1	1.40mi
17597 Tangi Lake Dr Hammond, LA	1.0–3.0	1.0–2.5	1075	$1,500	$1.40	43d	1	1.46mi

Listing history 3 events

1. 2026-06-19
   days on market $140,000 Coming Soon 2 DOM
2. 2026-06-17
   remarks 371-char remark
3. 2026-06-17
   listed $140,000 Coming Soon 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: $516 · $43/mo
• Projected year-2 tax: $770 · $64/mo
• Expected delta: +$254/yr (+$21/mo · 49.3%)

ⓘ 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 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: $18,564
• − Mortgage interest: −$7,842
• − Property taxes: −$516
• − Insurance: −$700
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$4,073
• Taxable income: $2,463
• Est. tax owed @ 24.0%: −$591
• After-tax cash flow: $4,049/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

+428.3% since first listed

20 events — show timeline

• 2026-06-17 Coming Soon $140,000 AcadianaMLS
• 2022-06-15 Sold (Public Records) $120,000 Public Records
• 2022-06-15 Sold (MLS) $120,000 GSREIN
• 2022-06-14 Listed $120,000 AcadianaMLS
• 2022-06-14 Listed $120,000 GSREIN
• 2015-12-11 Sold (MLS) $35,400 GSREIN
• 2015-12-08 Pending — GSREIN
• 2015-11-13 Price Changed $39,600 GSREIN
• 2015-09-15 Listed $45,000 GSREIN
• 2015-09-14 Listed $39,600 AcadianaMLS
• 2007-04-25 Sold (Public Records) $109,900 Public Records
• 2007-04-24 Sold (MLS) $109,900 GSREIN
• 2006-11-02 Listed $111,500 AcadianaMLS
• 2006-11-02 Listed $111,500 GSREIN
• 2006-04-10 Sold (MLS) $104,000 GSREIN
• 2006-02-15 Listed $109,900 AcadianaMLS
• 2006-02-15 Listed $109,900 GSREIN
• 2004-07-01 Sold (Public Records) — Public Records
• 2002-07-17 Sold (MLS) $18,000 GSREIN
• 2000-10-10 Listed $26,500 GSREIN

Property tax history

-3.7%/yr

Latest (2025): $516 · +0.5% YoY. Source: county tax records.