Updated Duplex with Rental
For Sale
$155,000
Pending
111 Fairfax Circle, Brandon, MS 39047
Recently updated duplex currently operating as a short-term rental, with options for long-term rental or owner-occupant use.
Property Size1,079 SF
Days on Market219
Property Features for 111 Fairfax Circle
General Information
Standard status
Pending
Size
1,079 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,211
Amenities
Central Air
3
Shingle
Driveway.
Brick
No Pool
Building Details
Year Built
1983
Stories
1
Listing Agency:
(601) 438-4663
Listed By:
Southern Homes Real Estate
(601) 750-7151
Source:
Xome
Added: Jan 2
Changed: Aug 8
Last Checked: Aug 9 at 5:08AM
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 Southern Homes Real Estate
Investment Insights
Based on property information with market context.
This recently updated duplex is currently operating as a short-term rental, and it offers multiple pathways for future use. The property is set up to support continued short-term rental operations, or it can transition to long-term rental income. Another option is owner-occupant use, depending on how the units are managed after purchase.
Located just a short drive from the Reservoir, the property provides convenient access to shopping, dining, and surrounding areas.
As a duplex, the asset delivers a flexible two-unit residential income format that can be adapted to the strategy you choose.
Located just a short drive from the Reservoir, the property provides convenient access to shopping, dining, and surrounding areas.
As a duplex, the asset delivers a flexible two-unit residential income format that can be adapted to the strategy you choose.
Key Highlights
- Recently updated duplex currently operating as a short‑term rental
- Multiple future‑use options: continued short‑term rental, long‑term rental, or owner‑occupant use
- Central air cooling and heating (3) provided
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
$7,545
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
4.87%
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%
$150,900
$150.9K
Cap Rate 7%
$107,786
$107.8K
Cap Rate 9%
$83,833
$83.8K
Market Conditions
NOI Build-Up for 1,079 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
$11.7K $10.80/SF
− Vacancy
−$874 −$0.81/SF
EGI
$10.8K $9.99/SF
− OpEx
−$3.2K −$3.00/SF
NOI
$7.5K $6.99/SF
Area
Rankin County, MS
Vacancy
7.50%
Lease Rate
$10.80 /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%
$150,900
Cap Rate 7%
$107,786
Cap Rate 9%
$83,833
Alternative Uses
Best Use
Multifamily LT 5
$107.8K
$94.3K – $125.8K
NOI $7,545 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$95.6K
$83.6K – $111.5K
NOI $6,690 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$296.0K
$259.0K – $345.3K
NOI $20,717 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 39047, MS
39,191
Population
16,706
Households
2.3
Avg Household Size
39
Median Age
45%
College-Educated
93%
High-School Grad
96.9 sq mi
ZIP Area
404
Density / Sq Mi
$93,114
Median Household Income
$52,928
Median Earnings
$1,491
Median Rent
$265,300
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 - Recently updated duplex currently operating as a short-term rental, with options for long-term rental or owner-occupant use.
Where is this duplex located?
The property is located at 111 Fairfax Circle Brandon, MS.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Recently updated duplex currently operating as a short‑term rental; Multiple future‑use options: continued short‑term rental, long‑term rental, or owner‑occupant use; Central air cooling and heating (3) provided
