Multifamily Property with Two
For Sale
$945,000
219 Bass Road, Florence, MS 39073
Residential, Florence, MS
Property Size7,401 SF
Lot Size5.00 Acres
Price / SF$127.69
Days on Market139
Property Features for 219 Bass Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 2, Bedroom 4, Bathroom 7, Bedroom 3, Bedroom 11, Bathroom 1, Bathroom 5, Bathroom 4, Bedroom 10, Bedroom 12, Bedroom 1, Bedroom 7, Bathroom 6, Bedroom 2, Bathroom 3, Bedroom 9, Bedroom 8, Bedroom 6, Bedroom 5
Fireplace
1
Subdivision
Metes And Bounds
Lot features
Landscaped, Few Trees, Landscaped, Few Trees
High school
Mendenhall
Elementary school district
Simpson CO Dist
Middle school district
Simpson CO Dist
High school district
Simpson CO Dist
Directions
Take County Line Rd to Bass Rd. Take a left on Bass Rd, house is on the right.
Standard status
Active
APN
1-0750-15-00000-000-00311
Size
7,401 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
5 AC PT W 1/2 SW 1/4 N/O RD
Tax Annual Amount
5119
Legal Description
5 AC PT W 1/2 SW 1/4 N/O RD
Utilities
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Roof type
Shingle
Listing Agency:
NextHome Realty Experience
(601) 521-2866
Listed By:
Ryan Porter · License #B22802
(601) 238-6620
Added: Apr 21
Changed: Aug 29
Last Checked: Sep 6 at 12:06AM
MLS# 4146766
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.
Located on five acres at 219 Bass Road in Florence, Mississippi, this multifamily property includes two substantial brick homes with a combined property size of 7,401 square feet. Built in 1985, the residences provide six bedrooms each, three bathrooms per home, laundry areas, kitchens, and gathering spaces. One home includes a fireplace and a screened-in rear porch, while the other has a new central HVAC system. Both homes have new shingle roofs.
Three mobile homes are positioned behind the second house and require rehabilitation before use. Public water serves the property. The residential improvements are set within a peaceful country setting and offer multiple existing structures for a buyer seeking a large-scale residential compound or other group-oriented application supported by the current layout.
Three mobile homes are positioned behind the second house and require rehabilitation before use. Public water serves the property. The residential improvements are set within a peaceful country setting and offer multiple existing structures for a buyer seeking a large-scale residential compound or other group-oriented application supported by the current layout.
Key Highlights
- Five‑acre multifamily property at 219 Bass Road, Florence, MS 39073
- Two brick homes totaling 7,401 square feet
- Each home includes 6 bedrooms and 3 bathrooms
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
$45,887
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
4.86%
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%
$917,740
$917.7K
Cap Rate 7%
$655,529
$655.5K
Cap Rate 9%
$509,856
$509.9K
Market Conditions
NOI Build-Up for 7,401 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
$90.6K $12.24/SF
− Vacancy
−$7.2K −$0.97/SF
EGI
$83.4K $11.27/SF
− OpEx
−$37.5K −$5.07/SF
NOI
$45.9K $6.20/SF
Area
Rankin County, MS
Vacancy
7.90%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
45.00%
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%
$917,740
Cap Rate 7%
$655,529
Cap Rate 9%
$509,856
Alternative Uses
Best Use
Apartment 5plus
$655.5K
$573.6K – $764.8K
NOI $45,887 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,099 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 39073, MS
20,613
Population
8,707
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
85%
High-School Grad
161.1 sq mi
ZIP Area
128
Density / Sq Mi
$72,099
Median Household Income
$38,123
Median Earnings
$886
Median Rent
$180,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences feature new roofs and flexible interior layouts suited to group-oriented use.
Where is this multifamily property located?
The property is located at 219 Bass Road Florence, MS.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Five‑acre multifamily property at 219 Bass Road, Florence, MS 39073; Two brick homes totaling 7,401 square feet; Each home includes 6 bedrooms and 3 bathrooms
