Apartment Building
For Sale
$599,000
1114 43rd Avenue, Gulfport, MS 39501
Residential Income, Gulfport, MS
Property Size7,197 SF
Lot Size0.68 Acres
Price / SF$83.23
Days on Market20
Property Features for 1114 43rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
15
Bathrooms
11
Full bathrooms
11
Rooms
Bathroom 7, Bedroom 2, Bedroom 15, Bedroom 5, Bathroom 1, Bathroom 9, Bathroom 3, Bedroom 11, Bedroom 4, Bedroom 14, Bedroom 1, Bathroom 4, Bathroom 2, Bathroom 8, Bathroom 11, Bathroom 10, Bedroom 6, Bathroom 5, Bedroom 8, Bedroom 3, Bedroom 7, Bedroom 10, Bedroom 13, Bedroom 12, Bathroom 6, Bedroom 9
Pets allowed
Cats OK, Dogs OK
Subdivision
Virginia Hill
Lot features
City Lot, City Lot
Standard status
Active
APN
0711j-02-014.000
Size
7,197 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 Different parcels included in sale. See documents for all legal descriptions.
Tax Annual Amount
3968
Legal Description
2 Different parcels included in sale. See documents for all legal descriptions.
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
11
Flooring type
Tile - Ceramic
Roof type
Shingle
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Sam Ford · License #B4936
(228) 424-8202
Added: Aug 13
Changed: Aug 26
Last Checked: Sep 1 at 11:06AM
MLS# 4159158
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential multifamily offering includes a 7-plex and two duplexes on 43rd Avenue. The properties total 7,197 square feet on 0.68 acres, with ceramic tile flooring, shingle roofs, public water, and public sewer. The improvements date to 1965 and include a combined bedroom-and-bathroom configuration reflected in the property record.
Each asset is separately metered, and occupants are responsible for water, sewer, and electric service. The properties are identified as outside a flood zone and are near Memorial Hospital, Broad Avenue, and 15th Street. Gulfport’s central business district, beaches, Island View Casino, and Beach View Casino are each stated to be within 3 miles.
Each asset is separately metered, and occupants are responsible for water, sewer, and electric service. The properties are identified as outside a flood zone and are near Memorial Hospital, Broad Avenue, and 15th Street. Gulfport’s central business district, beaches, Island View Casino, and Beach View Casino are each stated to be within 3 miles.
Key Highlights
- 7,197‑square‑foot multifamily offering on 0.68 acres
- Includes a 7‑plex and two duplexes
- All three properties are separately metered
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,296
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$905,920
$905.9K
Cap Rate 7%
$647,086
$647.1K
Cap Rate 9%
$503,289
$503.3K
Market Conditions
NOI Build-Up for 7,197 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.0K $9.72/SF
− Vacancy
−$5.2K −$0.73/SF
EGI
$64.7K $8.99/SF
− OpEx
−$19.4K −$2.70/SF
NOI
$45.3K $6.29/SF
Area
Harrison County, MS
Vacancy
7.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$905,920
Cap Rate 7%
$647,086
Cap Rate 9%
$503,289
Alternative Uses
Best Use
Multifamily LT 5
$647.1K
$566.2K – $754.9K
NOI $45,296 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$575.0K
$503.1K – $670.8K
NOI $40,248 @ 7.0% cap · market cap 6.72%
Theoretical Best
Healthcare Medical
$1.16M
$1.01M – $1.35M
NOI $81,161 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three separately metered residential assets are offered together along 43rd Avenue near Memorial Hospital.
Where is this apartment building located?
The property is located at 1114 43rd Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 7,197‑square‑foot multifamily offering on 0.68 acres; Includes a 7‑plex and two duplexes; All three properties are separately metered
