Two-Unit Duplex with Separate
For Sale
$255,000
Pending
2401 Esplanade Street lot A & B, Ocean Springs, MS 39564
Residential, Ocean Springs, MS
Property Size2,500 SF
Lot Size0.11 Acres
Days on Market45
Property Features for 2401 Esplanade Street lot A & B
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 2
Parking
4
Patio and Porch features
Porch
Pool private
1
Subdivision
Orleans Place
Elementary school district
Jackson CO Dist
Middle school district
Jackson CO Dist
High school district
Jackson CO Dist
Standard status
Pending
APN
0-61-30-128.000
Size
2,500 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 128 ORLEANS PLACE PH I PB 23-71 DB 1952-816 (207 MAP783.08)
Tax Annual Amount
1957
HOA Fee
$66 Monthly
Legal Description
LOT 128 ORLEANS PLACE PH I PB 23-71 DB 1952-816 (207 MAP783.08)
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2010
Floors in Building
2
Flooring type
Vinyl, Carpet
Roof type
Shingle
Listing Agency:
Century 21 Busch Realty Group · Century 21 Real Estate
(228) 324-1715
Listed By:
Carl Watson · License #S51291
(228) 231-3866
Added: Jul 18
Changed: Aug 28
Last Checked: Aug 31 at 1:06PM
MLS# 4156344
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.
Built in 2010, this 2,500-square-foot duplex contains two 1,250-square-foot residences. Each unit includes 3 bedrooms and 2 full bathrooms, with carpet and vinyl flooring throughout the property. The upper residence has a private balcony, while the lower residence opens to a front porch. Washer and dryer hookups are provided in both units, and the washer and dryer in Unit A convey with the sale.
Both residences are tenant-occupied and separately metered for electricity and water. The property sits on a 0.11-acre lot across from the neighborhood pool, with a vacant lot along one side. Public water and public sewer serve the property, which also features a shingle roof. Shopping, dining, entertainment, Keesler Air Force Base, downtown Ocean Springs, and the St. Martin School District are nearby.
Both residences are tenant-occupied and separately metered for electricity and water. The property sits on a 0.11-acre lot across from the neighborhood pool, with a vacant lot along one side. Public water and public sewer serve the property, which also features a shingle roof. Shopping, dining, entertainment, Keesler Air Force Base, downtown Ocean Springs, and the St. Martin School District are nearby.
Key Highlights
- 2,500‑square‑foot duplex built in 2010
- Two 1,250‑square‑foot units, each with 3 bedrooms and 2 full bathrooms
- Both units are currently tenant‑occupied
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
$17,324
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
6.79%
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%
$346,480
$346.5K
Cap Rate 7%
$247,486
$247.5K
Cap Rate 9%
$192,489
$192.5K
Market Conditions
NOI Build-Up for 2,500 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
$26.7K $10.68/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$24.7K $9.90/SF
− OpEx
−$7.4K −$2.97/SF
NOI
$17.3K $6.93/SF
Area
Jackson County, MS
Vacancy
7.31%
Lease Rate
$10.68 /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%
$346,480
Cap Rate 7%
$247,486
Cap Rate 9%
$192,489
Alternative Uses
Best Use
Multifamily LT 5
$247.5K
$216.6K – $288.7K
NOI $17,324 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$215.4K
$188.5K – $251.3K
NOI $15,077 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$683.0K
$597.6K – $796.8K
NOI $47,808 @ 7.0% cap · market cap 18.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 39564, MS
42,539
Population
18,908
Households
2.2
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
798
Density / Sq Mi
$77,300
Median Household Income
$43,754
Median Earnings
$1,314
Median Rent
$220,000
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 - Tenant-occupied income property with individually metered utilities, private outdoor spaces, and access to neighborhood amenities.
Where is this duplex located?
The property is located at 2401 Esplanade Street lot A & B Ocean Springs, MS.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 2,500‑square‑foot duplex built in 2010; Two 1,250‑square‑foot units, each with 3 bedrooms and 2 full bathrooms; Both units are currently tenant‑occupied
