11-Unit Apartment
New
For Sale
$599,000
1114 43rd Avenue, Gulfport, MS 39501
MULTI_FAMILY - Gulfport, MS
Property Size7,197 SF
Lot Size0.68 Acres
Price / SF$83.23
Days on Market2
Property Features for 1114 43rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
15
Bathrooms
11
Full bathrooms
11
Rooms
Bedroom 13, Bathroom 6, Bedroom 2, Bedroom 10, Bedroom 11, Bedroom 6, Bedroom 7, Bathroom 10, Bedroom 1, Bathroom 2, Bedroom 12, Bedroom 8, Bedroom 9, Bathroom 1, Bathroom 7, Bedroom 14, Bedroom 4, Bathroom 8, Bathroom 9, Bathroom 5, Bedroom 5, Bathroom 11, Bedroom 15, Bathroom 4, Bedroom 3, Bathroom 3
Pets allowed
Cats OK, Dogs OK
Subdivision
Virginia Hill
Lot features
City Lot, City Lot
Standard status
Active
APN
0711j-02-014.000
Size
7,197 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 Different parcels included in sale. See documents for all legal descriptions.
Tax Annual Amount
3968
Legal Description
2 Different parcels included in sale. See documents for all legal descriptions.
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
11
Flooring type
Tile - Ceramic
Roof type
Shingle
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Sam Ford · License #B4936
(228) 424-8202
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 9:06PM
MLS# 4159158
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.
This multifamily offering includes 11 units across three buildings: one seven-unit property and two duplexes. The improvements total 7,197 square feet on 0.68 acres and were built in 1965. Buildings feature ceramic tile flooring, shingle roofs, public water, and public sewer. Separate metering is in place, with occupants paying water, sewer, and electric costs.
The properties are located at 1114 43rd Avenue in Gulfport, near Memorial Hospital and the Broad Avenue and 15th Street area, where new medical clinics are noted. The Gulfport CBD, beaches, Island View Casino, and Beach View Casino are each within 3 miles. The property is identified as being outside a flood zone.
The properties are located at 1114 43rd Avenue in Gulfport, near Memorial Hospital and the Broad Avenue and 15th Street area, where new medical clinics are noted. The Gulfport CBD, beaches, Island View Casino, and Beach View Casino are each within 3 miles. The property is identified as being outside a flood zone.
Key Highlights
- 11 units across one 7‑unit building and two duplexes
- 7,197 square feet of improvements on 0.68 acres
- Separate meters serve the 7‑unit property and both duplexes
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
$45,296
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
7.56%
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%
$905,920
$905.9K
Cap Rate 7%
$647,086
$647.1K
Cap Rate 9%
$503,289
$503.3K
Market Conditions
NOI Build-Up for 7,197 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
$70.0K $9.72/SF
− Vacancy
−$5.2K −$0.73/SF
EGI
$64.7K $8.99/SF
− OpEx
−$19.4K −$2.70/SF
NOI
$45.3K $6.29/SF
Area
Harrison County, MS
Vacancy
7.50%
Lease Rate
$9.72 /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%
$905,920
Cap Rate 7%
$647,086
Cap Rate 9%
$503,289
Alternative Uses
Best Use
Multifamily LT 5
$647.1K
$566.2K – $754.9K
NOI $45,296 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$575.0K
$503.1K – $670.8K
NOI $40,248 @ 7.0% cap · market cap 6.72%
Theoretical Best
Healthcare Medical
$1.16M
$1.01M – $1.35M
NOI $81,161 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
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?
Apartment building - Three multifamily buildings use separate meters, with residents responsible for water, sewer, and electric service.
Where is this apartment building located?
The property is located at 1114 43rd Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 11 units across one 7‑unit building and two duplexes; 7,197 square feet of improvements on 0.68 acres; Separate meters serve the 7‑unit property and both duplexes
