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    New Duplex Near Gulf Coast Title is generated by Realmo AI

    5061& 5063 Forrest Ave, Bay St Louis, MS 39520

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    Claim this Listing
    For Sale
    $415,000

    MULTI_FAMILY - Bay St Louis, MS

    Property size:
    1,368 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $303/SF
    Added:
    Mar 25, 2026
    Days on Market:
    70
    Last Refresh:
    Jun 2 at 8:06 am

    Property Features for 5061& 5063 Forrest Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
    Standard status
    Active
    APN
    164A-0-17-224.000
    Size
    1,368 SF
    Lot size
    0.19 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Electric (Heating), Central
    Cooling system
    Ceiling Fan(s), Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    2025
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    HardiPlank Type
    Roof type
    Metal

    We can help!

    Listing Contact
    Catherine Hayden
    Catherine Hayden

    Listing agent Catherine Hayden License #11564

    Listing office Professional Realty 114 Elizabeth St., Picayune, MS

    Listing date Mar 25, 2026

    MLS# 187604 Listing URL

    Copyright © 2026 Pearl River County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brand‑new duplex, just 2 blocks from the Gulf
    • Prime investment opportunity with two modern, open‑concept units
    • Each unit features quartz countertops, stainless steel appliances, full laundry room with washer and dryer, and on‑demand water heaters
    • Unit 5061 (owner's side) features a private garage and RV hook‑ups
    • Both sides offer generous parking with extra‑large pads & covered spaces, spacious patios, private balconies, and elevators
    • Located in a peaceful, quiet neighborhood bordered by Buccaneer State Park, near downtown Bay St. Louis and Waveland casino

    Overview

    This new duplex is located just two blocks from the Gulf, offering convenient beach access and proximity to a local fishing pier. Situated near South Beach Boulevard, it allows easy access to downtown Bay St. Louis with its waterfront bars and restaurants, as well as the casino in Waveland. The property features modern, open-concept floor plans with premium finishes, including quartz countertops and stainless steel appliances in the kitchens. Each unit includes a full laundry room with a washer and dryer, and on-demand water heaters. Unit 5061, designated as the owner's side, includes a private garage and RV hook-ups. Both units provide ample parking with extra-large pads and covered spaces, spacious patios, private balconies, and elevators. Located in a quiet neighborhood bordering Buccaneer State Park, this property combines coastal living with investment potential. The property size is 1368 square feet and the lot size is 0.19 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Auto Repair Shop Auto Parts Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bay St Louis
    County
    Hancock
    State
    Mississippi
    Longitude
    -89.4140279
    Latitude
    30.2594636

    FAQs

    What type of property is this?
    Duplex - New duplex near the Gulf with modern amenities and beach access.
    Where is this duplex located?
    The property is located at 5061& 5063 Forrest Ave Bay St Louis, MS.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Brand‑new duplex, just 2 blocks from the Gulf; Prime investment opportunity with two modern, open‑concept units; Each unit features quartz countertops, stainless steel appliances, full laundry room with washer and dryer, and on‑demand water heaters
    (202) 487-3311
    We can help!
    Listing Contact
    Catherine Hayden
    Catherine Hayden
    Real Estate License ID: 11564
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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