Fully Leased
1033 Monroe Street Unit A B C D E F Jackson, MS 39202
For Sale
$445,000
Well-maintained 6-plex with all units leased as 2-bedroom, 1-bath apartments where tenants pay all utilities.
Property Size4,560 SF
Price / SF$97.59
Days on Market131
Property Features for 1033 Monroe Street Unit A B C D E F
General Information
- Standard status
- Active
- Size
- 4,560 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1947
Listing Agency:
Nix-Tann & Associates, Inc.
(601) 214-7714
Listed By:
Mike Hoffman · License #S22757
(601) 214-7714
Source:
Compass
Added: Mar 16
Changed: Jul 23
Last Checked: Jul 23 at 5:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nix-Tann & Associates, Inc.
Investment Insights
Based on property information with market context.
This fully leased 6-plex offers six 2-bedroom, 1-bath units. The property is described as updated and well maintained, and the exterior was recently painted. Tenants pay all utilities. The roof was installed in 2021 on the main building and in 2024 on the carriage houses.
The property is positioned close to Belhaven Town Center, as well as nearby colleges, universities, and hospitals, supporting steady day-to-day demand from the surrounding area.
Based on the unit mix provided, the asset is configured for a consistent residential income profile with all apartments featuring the same 2BR/1BA layout.
The property is positioned close to Belhaven Town Center, as well as nearby colleges, universities, and hospitals, supporting steady day-to-day demand from the surrounding area.
Based on the unit mix provided, the asset is configured for a consistent residential income profile with all apartments featuring the same 2BR/1BA layout.
Key Highlights
- 6‑plex with 6 units, all 2BR/1BA apartments and all units currently leased
- Tenants pay all utilities
- Roof installed 2021 on the main building and 2024 on the carriage houses
Financial Insights For Apartment 5plus
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 | $54.7k | $12.00 |
| − Vacancy | −$3.7k | −$0.82 |
| EGI | $51.0k | $11.18 |
| − OpEx | −$22.9k | −$5.03 |
| NOI | $28.0k | $6.15 |
4,560 SF · lease $12.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$400.7K
$350.6K – $467.5K
NOI $28,049 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.4K
$683.7K – $911.6K
NOI $54,698 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained 6-plex with all units leased as 2-bedroom, 1-bath apartments where tenants pay all utilities.
Where is this apartment building located?
The property is located at 1033 Monroe Street Unit A B C D E F Jackson, MS.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 6‑plex with 6 units, all 2BR/1BA apartments and all units currently leased; Tenants pay all utilities; Roof installed 2021 on the main building and 2024 on the carriage houses
