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 Market145
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
(315) 439-0200
Source:
Propertiesnorthms
Added: May 31
Changed: Oct 1
Last Checked: Oct 20 at 10:14PM
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.
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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 / Yr
$12,783
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
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
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 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.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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
