Updated
For Sale
$139,900
118 Fairfax Circle Unit A, Brandon, MS 39047
Currently operating as a short-term rental with central air and paved on-site parking.
Property Size940 SF
Price / SF$148.83
Days on Market287
Property Features for 118 Fairfax Circle Unit A
General Information
Standard status
Active
Size
940 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,263
Amenities
Central Air
3
Shingle
Parking.
Parking Pad, Paved 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: Nov 17, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:11PM
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 duplex was built in 1983 and is currently operating as a short-term rental. The property includes central air, a brick exterior, a shingle roof, and a paved driveway with a parking pad. It also has no pool.
The property is located in Brandon, Mississippi, within a short drive of the Reservoir, local dining, and shopping. The stated use possibilities include continued short-term rental operation, long-term rental income, or owner occupancy.
The property is located in Brandon, Mississippi, within a short drive of the Reservoir, local dining, and shopping. The stated use possibilities include continued short-term rental operation, long-term rental income, or owner occupancy.
Key Highlights
- Currently operating as a short‑term rental
- Central air conditioning
- Paved driveway and parking pad
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
$6,573
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
4.70%
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%
$131,460
$131.5K
Cap Rate 7%
$93,900
$93.9K
Cap Rate 9%
$73,033
$73.0K
Market Conditions
NOI Build-Up for 940 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
$10.2K $10.80/SF
− Vacancy
−$761 −$0.81/SF
EGI
$9.4K $9.99/SF
− OpEx
−$2.8K −$3.00/SF
NOI
$6.6K $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%
$131,460
Cap Rate 7%
$93,900
Cap Rate 9%
$73,033
Alternative Uses
Best Use
Multifamily LT 5
$93.9K
$82.2K – $109.6K
NOI $6,573 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$83.3K
$72.9K – $97.1K
NOI $5,828 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$257.8K
$225.6K – $300.8K
NOI $18,048 @ 7.0% cap · market cap 12.90%
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
197
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Currently operating as a short-term rental with central air and paved on-site parking.
Where is this duplex located?
The property is located at 118 Fairfax Circle Unit A Brandon, MS.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Currently operating as a short‑term rental; Central air conditioning; Paved driveway and parking pad
