Corner-Lot Multi-Unit
1602 E Railroad Street Gulfport, MS 39501
1602 E Railroad Street, Gulfport, MS, 39501
$299,000
For Sale
$299,000
MULTI_FAMILY - Gulfport, MS
Property Size3,030 SF
Lot Size0.28 Acres
Price / SF$98.68
Days on Market84
Property Features for 1602 E Railroad Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 9, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 8, Bedroom 7, Bedroom 3, Bathroom 1, Bedroom 5
- Security features
- Security System
- Window features
- Double Pane Windows, Window Treatments, Blinds
- Patio and Porch features
- Deck, Porch, Patio
- Pets allowed
- Cats OK, Dogs OK
- Standard status
- Active
- APN
- 0811g-04-060.000
- Size
- 3,030 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOTS 19 - 21 BLK 13 SORIA CITY
- Tax Annual Amount
- 361
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Water source
- Public
- Water front features
- Beach Access
Building Details
- Year built
- 1940
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Vinyl, Tile
- Roof type
- Metal
Listing agency
Coldwell Banker Alfonso Realty-Lorraine Rd
(228) 287-1000
Listed by
Philip J Leblanc · License #S30047
(228) 860-0082
Added: Apr 30 Updated: Jul 10 at 8:58AM Checked: Jul 22 at 3:06AM
MLS# 4147774
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 corner-lot multi-unit residence features a spacious main level designed for owner occupancy or as a standalone rental, with a bright sitting room, large kitchen with adjacent dining area, generous family room, six bedrooms, two full bathrooms, and a dedicated laundry room. Upstairs, a partially completed apartment awaits finishing touches, with electrical, plumbing, and HVAC work already roughed in, for completion as a 1- or 2-bedroom unit. The mostly finished attic space presents a potential third unit opportunity, which could be configured as an efficiency apartment.
Located in the heart of Gulfport’s coastal corridor, the property is described as within a short walk of the Mississippi Gulf Coast beaches, downtown, the harbor, restaurants, and scenic walking and biking paths.
Additional features include a metal roof installed less than three years ago, an above-ground pool with a new liner, a pool house, partial privacy fencing, and a mature pecan tree. The sale is offered as-is/where-is, and a generous supply of building materials is reported to convey to help complete the remaining work. Buyer to verify all information and perform due diligence.
Located in the heart of Gulfport’s coastal corridor, the property is described as within a short walk of the Mississippi Gulf Coast beaches, downtown, the harbor, restaurants, and scenic walking and biking paths.
Additional features include a metal roof installed less than three years ago, an above-ground pool with a new liner, a pool house, partial privacy fencing, and a mature pecan tree. The sale is offered as-is/where-is, and a generous supply of building materials is reported to convey to help complete the remaining work. Buyer to verify all information and perform due diligence.
Key Highlights
- Beach access and a corner‑lot multi‑unit setup with up to three units (main level plus upstairs apartment and mostly finished attic)
- Metal roof installed less than 3 years ago
- Partially completed upstairs apartment is roughed in with electrical, plumbing, and HVAC work already done
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $9.72 |
| − Vacancy | −$2.2k | −$0.73 |
| EGI | $27.2k | $8.99 |
| − OpEx | −$8.2k | −$2.70 |
| NOI | $19.1k | $6.29 |
3,030 SF · lease $9.72/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$272.4K
$238.4K – $317.8K
NOI $19,070 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,945 @ 7.0% cap · market cap 5.67%
Theoretical Best
Healthcare Medical
$488.1K
$427.1K – $569.5K
NOI $34,169 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Main level offers a 6-bedroom, 2-bath home, while an upstairs apartment is partially completed for finishing into rental units.
Where is this triplex located?
The property is located at 1602 E Railroad Street Gulfport, MS.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Beach access and a corner‑lot multi‑unit setup with up to three units (main level plus upstairs apartment and mostly finished attic); Metal roof installed less than 3 years ago; Partially completed upstairs apartment is roughed in with electrical, plumbing, and HVAC work already done
