Updated Two-Unit
For Sale
$199,900
12002 Highland Avenue, Gulfport, MS 39503
Residential Income, Gulfport, MS
Property Size2,095 SF
Lot Size0.11 Acres
Price / SF$95.42
Days on Market98
Property Features for 12002 Highland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family & Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 3
Parking
2
Window features
Double Pane Windows, Aluminum Frames, Window Treatments
Patio and Porch features
Porch
Pets allowed
Cats OK, Dogs OK
Appliances
Range
Subdivision
The Meadows
Lot features
Corner Lot, Level, Cleared, City Lot, Corner Lot, Level, Cleared, City Lot
Standard status
Active
APN
0908e-02-004.110
Size
2,095 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 110 MEADOWS OF GULFPORT PH 1 SEC 2-7-11
Tax Annual Amount
2365
HOA Fee
$76 Monthly
Legal Description
LOT 110 MEADOWS OF GULFPORT PH 1 SEC 2-7-11
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2010
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Shingle
Listing Agency:
Coldwell Banker Smith Home Rltrs-Gautier · Coldwell Banker Real Estate
(228) 497-1800
Listed By:
Twila A Peterson · License #B15078
(228) 218-0616
Added: May 26
Changed: Aug 26
Last Checked: Aug 31 at 3:06AM
MLS# 4150581
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 2,095-square-foot duplex contains two residences, each arranged with 3 bedrooms and 2 baths. Both units feature an open connection between the kitchen and living area, along with carpet and vinyl flooring, kitchen appliances, and stackable washer/dryer hookups. The property was built in 2010 and has received updates including interior and exterior paint, flooring, appliance work, and HVAC service or replacement. The upper residence includes a balcony, while a porch adds exterior space to the property.
Both units are currently rented and subject to leases. The 0.11-acre parcel is served by public water and public sewer and has a shingle roof. Showings require 24 hours' notice because of the current tenancy.
Both units are currently rented and subject to leases. The 0.11-acre parcel is served by public water and public sewer and has a shingle roof. Showings require 24 hours' notice because of the current tenancy.
Key Highlights
- Two‑unit duplex totaling 2,095 square feet
- Each unit offers 3 bedrooms and 2 baths
- Both residences 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has an open kitchen-to-living layout, three bedrooms, two baths, and stackable laundry hookups.
Where is this duplex located?
The property is located at 12002 Highland Avenue 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 totaling 2,095 square feet; Each unit offers 3 bedrooms and 2 baths; Both residences are rented and under lease
