Building Details

Year Built 2010

Listing Agency: Coldwell Banker Smith Home Rltrs-Gautier

Listed By: Twila A Peterson · License #B15078 Show Phone

Source: Fiorellaavenue

Added: Jul 20 Changed: Oct 8 Last Checked: Oct 7 at 4:53PM

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Investment Insights

Based on property information with market context.

Built in 2010, this duplex contains 2,095 square feet with two matching three-bedroom, two-bath units. Both residences offer an open kitchen-to-living layout, generously sized bedrooms, and closet space. Each unit includes a range, microwave, dishwasher, and refrigerator, along with hookups for a stackable washer and dryer. The upper unit adds a private balcony. Recent work includes interior and exterior paint, flooring, appliances, and HVAC service or replacement.

Both units are currently occupied under lease. The property is located at 12002 Highland Ave in Gulfport, Mississippi, near shopping, dining, and entertainment. Showings require 24 hours’ notice due to the existing tenants.

Key Highlights

• Two‑unit duplex with 2,095 SF of total property size
• Each unit has 3 bedrooms and 2 bathrooms
• Both units are rented and under lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,185

Cap Rate

6.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$263,700 $263.7K

Cap Rate 7%

$188,357 $188.4K

Cap Rate 9%

$146,500 $146.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,095 SF

Gross rent

$20.4K $9.72/SF

− Vacancy

−$1.5K −$0.73/SF

EGI

$18.8K $8.99/SF

− OpEx

−$5.7K −$2.70/SF

NOI

$13.2K $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 Rate 5%

$263,700

Cap Rate 7%

$188,357

Cap Rate 9%

$146,500

Alternative Uses

Best Use

Multifamily LT 5

$188.4K

$164.8K – $219.8K (±1% cap)

NOI $13,185 @ 7.0% cap · market cap 6.60%

Second Best

Apartment 5plus

$167.4K

$146.5K – $195.3K (±1% cap)

NOI $11,716 @ 7.0% cap · market cap 5.86%

Theoretical Best

Healthcare Medical

$337.5K

$295.3K – $393.8K (±1% cap)

NOI $23,625 @ 7.0% cap · market cap 11.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Dental Office Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

127

Businesses Nearby

Explore this area Business Placement

Demographics for 39503, MS

53,643

Population

22,533

Households

2.4

Avg Household Size

37

Median Age

24%

College-Educated

92%

High-School Grad

114.3 sq mi

ZIP Area

469

Density / Sq Mi

$61,298

Median Household Income

$36,241

Median Earnings

$1,087

Median Rent

$193,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Updated duplex with matching three-bedroom residences, included appliances, laundry hookups, and an upper-level balcony.

Where is this duplex located?

The property is located at 12002 Highland Ave Gulfport, MS.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: Two‑unit duplex with 2,095 SF of total property size; Each unit has 3 bedrooms and 2 bathrooms; Both units are rented and under lease