Four-Unit Quadplex with
For Sale
$515,000
Pending
12263 Kencrest Dr, Gulfport, MS 39503
Two duplex buildings offer private outdoor areas and established occupancy in a residential Gulfport setting.
Property Size3,752 SF
Days on Market117
Property Features for 12263 Kencrest Dr
General Information
Standard status
Pending
Size
3,752 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,071
Amenities
fireplaces
fenced backyards
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Mason & Magnolia Real Estate
(228) 234-1903
Listed By:
Julie M Krohn
(228) 234-1903
Source:
Exprealty
Added: May 7
Changed: Aug 29
Last Checked: Aug 30 at 10:02PM
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 Mason & Magnolia Real Estate
Investment Insights
Based on property information with market context.
This quadplex comprises two duplex buildings with four total units. Each residence includes two bedrooms, two full bathrooms, a fireplace, vaulted ceilings, and a private fenced backyard. The property contains 3,752 square feet overall, with layouts designed around separate living areas and residential privacy.
Located at 12263 Kencrest Dr in Gulfport, the property is in a quiet residential neighborhood near shopping, dining, entertainment, schools, beaches, and other major conveniences. All four units are occupied by long-term renters, and the roofs were replaced within the last year. The combination of four established residences, individual outdoor space, and recent roof work provides a clearly defined multifamily configuration.
Located at 12263 Kencrest Dr in Gulfport, the property is in a quiet residential neighborhood near shopping, dining, entertainment, schools, beaches, and other major conveniences. All four units are occupied by long-term renters, and the roofs were replaced within the last year. The combination of four established residences, individual outdoor space, and recent roof work provides a clearly defined multifamily configuration.
Key Highlights
- Four total units arranged across two duplex buildings
- Each unit has 2 bedrooms, 2 full bathrooms, a fireplace, and vaulted ceilings
- 3,752 square feet of combined property size
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
$23,614
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
4.59%
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%
$472,280
$472.3K
Cap Rate 7%
$337,343
$337.3K
Cap Rate 9%
$262,378
$262.4K
Market Conditions
NOI Build-Up for 3,752 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
$36.5K $9.72/SF
− Vacancy
−$2.7K −$0.73/SF
EGI
$33.7K $8.99/SF
− OpEx
−$10.1K −$2.70/SF
NOI
$23.6K $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%
$472,280
Cap Rate 7%
$337,343
Cap Rate 9%
$262,378
Alternative Uses
Best Use
Multifamily LT 5
$337.3K
$295.2K – $393.6K
NOI $23,614 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$299.7K
$262.3K – $349.7K
NOI $20,982 @ 7.0% cap · market cap 4.07%
Theoretical Best
Healthcare Medical
$604.4K
$528.9K – $705.2K
NOI $42,311 @ 7.0% cap · market cap 8.22%
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
523
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?
Quadplex - Two duplex buildings offer private outdoor areas and established occupancy in a residential Gulfport setting.
Where is this quadplex located?
The property is located at 12263 Kencrest Dr Gulfport, MS.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Four total units arranged across two duplex buildings; Each unit has 2 bedrooms, 2 full bathrooms, a fireplace, and vaulted ceilings; 3,752 square feet of combined property size
