Fully Leased
For Sale
$215,000
Pending
1201 W Main St, Tupelo, MS 38801
Four residential units with a mix of two- and one-bedroom layouts, all currently leased for income.
Property Size2,031 SF
Days on Market70
Property Features for 1201 W Main St
General Information
Standard status
Pending
Size
2,031 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1938
Tenancy
Multi
Listing Agency:
Sell Your Home Services, LLC.
Listed By:
Daniel Demers · License #409044
(877) 893-6566
Source:
Propertiesnorthms
Added: Jun 29
Changed: Sep 1
Last Checked: Sep 5 at 8:51AM
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 Sell Your Home Services, LLC.
Investment Insights
Based on property information with market context.
This income-producing fourplex features three 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The property is currently fully leased, providing in-place rental income. Ideal for investors seeking a multi-unit residential asset with a diversified unit mix within a single building.
Located at 1201 W Main St in Tupelo, MS, the property is described as being near downtown, shopping, restaurants, schools, and major employers, supporting convenient everyday access for tenants.
The existing configuration includes four separate rental homes across the building, with consistent bathroom count per unit and multiple floor plans designed to appeal to different household sizes.
Located at 1201 W Main St in Tupelo, MS, the property is described as being near downtown, shopping, restaurants, schools, and major employers, supporting convenient everyday access for tenants.
The existing configuration includes four separate rental homes across the building, with consistent bathroom count per unit and multiple floor plans designed to appeal to different household sizes.
Key Highlights
- Income‑producing 4‑plex built in 1938
- Unit mix: three 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit
- All units currently leased at $800/month each
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
$12,783
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
5.95%
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%
$255,660
$255.7K
Cap Rate 7%
$182,614
$182.6K
Cap Rate 9%
$142,033
$142.0K
Market Conditions
NOI Build-Up for 2,031 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
$19.7K $9.72/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$18.3K $8.99/SF
− OpEx
−$5.5K −$2.70/SF
NOI
$12.8K $6.29/SF
Area
Lee 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%
$255,660
Cap Rate 7%
$182,614
Cap Rate 9%
$142,033
Alternative Uses
Best Use
Multifamily LT 5
$182.6K
$159.8K – $213.1K
NOI $12,783 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$162.3K
$142.0K – $189.3K
NOI $11,358 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$381.4K
$333.8K – $445.0K
NOI $26,700 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 38801, MS
29,795
Population
13,717
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
86%
High-School Grad
73.0 sq mi
ZIP Area
408
Density / Sq Mi
$63,447
Median Household Income
$35,596
Median Earnings
$954
Median Rent
$187,600
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?
Quadplex - Four residential units with a mix of two- and one-bedroom layouts, all currently leased for income.
Where is this quadplex located?
The property is located at 1201 W Main St Tupelo, MS.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Income‑producing 4‑plex built in 1938; Unit mix: three 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit; All units currently leased at $800/month each
