Renovated Two-Unit
For Sale
$199,900
12002 Highland Ave, Gulfport, MS 39503
Updated duplex with matching three-bedroom residences, included appliances, laundry hookups, and an upper-level balcony.
Property Size2,095 SF
Price / SF$95.42
Days on Market43
Property Features for 12002 Highland Ave
General Information
Standard status
Active
Size
2,095 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
balcony
washer/dryer hookups
Building Details
Year Built
2010
Listing Agency:
Coldwell Banker Smith Home Rltrs-Gautier
(228) 872-3330
Listed By:
Twila A Peterson · License #B15078
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 31
Last Checked: Aug 31 at 2:13AM
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 Coldwell Banker Smith Home Rltrs-Gautier
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.
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 = 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
$13,185
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
6.60%
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%
$263,700
$263.7K
Cap Rate 7%
$188,357
$188.4K
Cap Rate 9%
$146,500
$146.5K
Market Conditions
NOI Build-Up for 2,095 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
$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 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%
$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
NOI $13,185 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$167.4K
$146.5K – $195.3K
NOI $11,716 @ 7.0% cap · market cap 5.86%
Theoretical Best
Healthcare Medical
$337.5K
$295.3K – $393.8K
NOI $23,625 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
