Renovated Duplex with
For Sale
$199,900
12206 Prudie Street, Gulfport, MS 39503
Residential Income, Gulfport, MS
Property Size2,095 SF
Lot Size0.14 Acres
Price / SF$95.42
Days on Market98
Property Features for 12206 Prudie Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family & Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 3
Parking
2
Window features
Double Pane Windows, Aluminum Frames, Window Treatments
Patio and Porch features
Porch
Pets allowed
Cats OK, Dogs OK
Appliances
Range
Subdivision
Meadows Of Glfpt
Lot features
Corner Lot, Level, Cleared, City Lot, Corner Lot, Level, Cleared, City Lot
Standard status
Active
APN
0908e-02-004.085
Size
2,095 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 85 MEADOWS OF GULFPORT PH 1 THE SEC 2-7-11
Tax Annual Amount
206
HOA Fee
$76 Monthly
Legal Description
LOT 85 MEADOWS OF GULFPORT PH 1 THE SEC 2-7-11
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
washer/dryer hookups
balcony
Building Details
Year built
2010
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Shingle
Listing Agency:
Coldwell Banker Smith Home Rltrs-Gautier · Coldwell Banker Real Estate
(228) 497-1800
Listed By:
Twila A Peterson · License #B15078
(228) 218-0616
Added: May 26
Changed: Aug 26
Last Checked: Aug 31 at 6:06AM
MLS# 4150617
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 duplex contains 2,095 square feet with two matching units, each arranged as a three-bedroom, two-bath residence. The open kitchen connects to the living area, while the bedrooms provide generous closet space. Interior and exterior improvements include fresh paint, updated flooring, appliances, HVAC work, and recent servicing. Each unit conveys with a range, microwave, dishwasher, and refrigerator, and includes hookups for a stackable washer and dryer. The upper residence also has a balcony, and porch features are present.
Both units are occupied and under lease. The property sits on a 0.14-acre lot at 12206 Prudie Street in Gulfport, with public water and public sewer service. Constructed in 2010, the building has a shingle roof and a mix of carpet and vinyl flooring. Showings require 24 hours’ notice because of the tenants.
Both units are occupied and under lease. The property sits on a 0.14-acre lot at 12206 Prudie Street in Gulfport, with public water and public sewer service. Constructed in 2010, the building has a shingle roof and a mix of carpet and vinyl flooring. Showings require 24 hours’ notice because of the tenants.
Key Highlights
- Two‑unit duplex totaling 2,095 square feet
- Each unit offers 3 bedrooms and 2 bathrooms
- Both units are rented and under lease
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
$13,185
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
6.60%
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%
$263,700
$263.7K
Cap Rate 7%
$188,357
$188.4K
Cap Rate 9%
$146,500
$146.5K
Market Conditions
NOI Build-Up for 2,095 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
$20.4K $9.72/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$18.8K $8.99/SF
− OpEx
−$5.7K −$2.70/SF
NOI
$13.2K $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%
$263,700
Cap Rate 7%
$188,357
Cap Rate 9%
$146,500
Alternative Uses
Best Use
Multifamily LT 5
$188.4K
$164.8K – $219.8K
NOI $13,185 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$167.4K
$146.5K – $195.3K
NOI $11,716 @ 7.0% cap · market cap 5.86%
Theoretical Best
Healthcare Medical
$337.5K
$295.3K – $393.8K
NOI $23,625 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Explore this area
Business Placement
Demographics for 39503, MS
53,643
Population
22,533
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
92%
High-School Grad
114.3 sq mi
ZIP Area
469
Density / Sq Mi
$61,298
Median Household Income
$36,241
Median Earnings
$1,087
Median Rent
$193,000
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?
Duplex - Two leased units offer matching three-bedroom layouts with updated interiors and open kitchen-to-living-area designs.
Where is this duplex located?
The property is located at 12206 Prudie Street Gulfport, MS.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,095 square feet; Each unit offers 3 bedrooms and 2 bathrooms; Both units are rented and under lease
