Fully Occupied Duplex
2116 Magazine Street lot A & B Ocean Springs, MS 39564
For Sale
$299,000
MULTI_FAMILY - Ocean Springs, MS
Property Size2,970 SF
Lot Size0.10 Acres
Price / SF$100.67
Days on Market65
Property Features for 2116 Magazine Street lot A & B
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 6, Bedroom 2, Bedroom 6, Bathroom 2
- Parking
- 4
- Patio and Porch features
- Porch
- Pool private
- 1
- Standard status
- Active
- APN
- 0-61-30-075.000
- Size
- 2,970 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOT 75 ORLEANS PLACE PH I PB 23-71 (260 MAP783.08) DB 1765-490
- Tax Annual Amount
- 2341
Utilities
- Sewer type
- Public Sewer
- Water source
- Private
Building Details
- Year built
- 2009
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet
- Roof type
- Shingle
Listing Agency:
Century 21 Busch Realty Group
(228) 324-1715
Listed By:
Jodi S Busch · License #B20940
(228) 669-0211
Added: May 22
Changed: Jul 24
Last Checked: Jul 25 at 2:06AM
MLS# 4150558
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/townhome property is configured as two separate living spaces, one on each side. Each unit includes three bedrooms and three full bathrooms with an open, roomier layout intended for comfortable day-to-day living. The property is fully occupied and positioned to support ongoing rental operations.
The property is located near the interstate, downtown, shopping, restaurants, and entertainment, providing convenient access to everyday destinations. Because the units are tenant occupied, all showings require a minimum 24-hour notice.
For buyers or investors seeking a turn-key, income-producing setup, the current tenancy provides immediate occupancy. Each side is described as renting for $1,500 per month. Tenants pay HOA fees in addition to rent and are also responsible for lawn care, which may help reduce owner expenses related to exterior maintenance. With spacious interiors and functional floor plans on both sides, the property offers a practical basis for continued rental use under the existing tenant-occupied operating model.
The property is located near the interstate, downtown, shopping, restaurants, and entertainment, providing convenient access to everyday destinations. Because the units are tenant occupied, all showings require a minimum 24-hour notice.
For buyers or investors seeking a turn-key, income-producing setup, the current tenancy provides immediate occupancy. Each side is described as renting for $1,500 per month. Tenants pay HOA fees in addition to rent and are also responsible for lawn care, which may help reduce owner expenses related to exterior maintenance. With spacious interiors and functional floor plans on both sides, the property offers a practical basis for continued rental use under the existing tenant-occupied operating model.
Key Highlights
- Fully occupied duplex/townhome with strong rental income
- Each side has 3 bedrooms and 3 full bathrooms
- Each side rents for $1,500 per month; tenants pay HOA fees in addition to rent
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 | $31.7k | $10.68 |
| − Vacancy | −$2.3k | −$0.78 |
| EGI | $29.4k | $9.90 |
| − OpEx | −$8.8k | −$2.97 |
| NOI | $20.6k | $6.93 |
2,970 SF · lease $10.68/SF/yr · vacancy 7.31% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$294.0K
$257.3K – $343.0K
NOI $20,581 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$255.9K
$223.9K – $298.5K
NOI $17,912 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$811.4K
$710.0K – $946.6K
NOI $56,796 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two side-by-side units with open three-bedroom, three-bath layouts, currently fully occupied with tenants paying HOA and lawn care.
Where is this duplex located?
The property is located at 2116 Magazine Street lot A & B Ocean Springs, 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: Fully occupied duplex/townhome with strong rental income; Each side has 3 bedrooms and 3 full bathrooms; Each side rents for $1,500 per month; tenants pay HOA fees in addition to rent
