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Two-Unit Duplex with Mini Splits
New
For Sale
$150,000

12506 A/b Lorraine Road, Biloxi, MS 39532

Residential Income, Biloxi, MS

Property Size952 SF
Lot Size1.50 Acres
Price / SF$157.56
Days on Market5

Property Features for 12506 A/b Lorraine Road

General Information

Property type Residential Multi Family
Property subtype Other
Bedrooms 2
Bathrooms 2
Full bathrooms 2
Rooms Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Parking 2
Subdivision Metes And Bounds
Elementary school Woolmarket
Middle school North Woolmarket Middle School
High school D'Iberville
Directions From I-10, take Exit 41 (Woolmarket Rd) and travel north. Turn right onto Lorraine Rd and continue to 12506B Lorraine Rd. From I-10, take Exit 38 (Lorraine-Cowan Rd) and travel north on Lorraine Rd. Continue to 12506B Lorraine Rd.
Standard status Active
APN 1008h-01-002.000; Part Of 1008h-01-003.001
Size 952 SF
Lot size 1.50 Acres

Taxes and HOA fees

Tax Year 2025
Tax Description BEG AT SW COR OF SW 1/4 OF NW 1/4 SEC 4-7-10 & RUN E ALONG S LINE OF SW 1/4 OF NW 1/4 312 FT M/L TO W LINE OF SHORECREST RD S 155 FT W 420 FT TO BEG W 240 FT M/L N 105 FT ELY 232 FT M/L S 105 FT TO BEG SEC 5-7-10; AND PART OF 2.4 AC (C) COM AT SW COR OF NW1/4 OF SEC 4 E ALONG 1/2 SEC LINE 312 FT TO W MAR OF SHORECREST RD SLY ALONG RD 155 FT W 450 FT TO POB N 505 FT W 210 FT S 505 FT E 210 FT TO POB PART OF NE1/4 OF SE1/4 OF SEC 5-7-10. SUBJECT TO SURVEY.
Tax Annual Amount 3750
Legal Description BEG AT SW COR OF SW 1/4 OF NW 1/4 SEC 4-7-10 & RUN E ALONG S LINE OF SW 1/4 OF NW 1/4 312 FT M/L TO W LINE OF SHORECREST RD S 155 FT W 420 FT TO BEG W 240 FT M/L N 105 FT ELY 232 FT M/L S 105 FT TO BEG SEC 5-7-10; AND PART OF 2.4 AC (C) COM AT SW COR OF NW1/4 OF SEC 4 E ALONG 1/2 SEC LINE 312 FT TO W MAR OF SHORECREST RD SLY ALONG RD 155 FT W 450 FT TO POB N 505 FT W 210 FT S 505 FT E 210 FT TO POB PART OF NE1/4 OF SE1/4 OF SEC 5-7-10. SUBJECT TO SURVEY.

Utilities

Utilities Cable Available
Sewer type Shared Septic
Heating system Electric (Heating)
Cooling system Ceiling Fan(s), Wall Unit(s), Electric, Ductless
Water source Well

Building Details

Year built 1974
Floors in Building 1
Number of units 2
Roof type Shingle
Listing Agency: Epique
Listed By: Janice M Ferguson · License #S59571
Added: Oct 3 Changed: Oct 6 Last Checked: Oct 7 at 7:06AM
MLS# 4164502

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.

Built in 1974, this duplex contains two one-bedroom, one-bath residences, each with its own mini-split system. The kitchen in Unit B was updated in 2025. Both sides are currently rented on month-to-month terms. The property uses a private well and a septic system shared by the units, and has no HOA.

The duplex is on Lorraine Road in the Woolmarket area, within Biloxi city limits. I-10 at the Lorraine-Cowan exit is 5 minutes away; Keesler AFB and the Seabee Base are 20 minutes away, while the Promenade and Crossroads are 15 minutes away. Woolmarket Elementary, Taranto's, and Woolmarket Grocery are also nearby.

Key Highlights

  • Two one‑bedroom, one‑bath units
  • Both units currently rented month to month
  • Each residence has its own mini split

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr
$5,992
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$119,840 $119.8K
Cap Rate 7%
$85,600 $85.6K
Cap Rate 9%
$66,578 $66.6K
Market Conditions
NOI Build-Up for 952 SF
Gross rent
$9.3K $9.72/SF
− Vacancy
−$694 −$0.73/SF
EGI
$8.6K $8.99/SF
− OpEx
−$2.6K −$2.70/SF
NOI
$6.0K $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 Rate 5%
$119,840
Cap Rate 7%
$85,600
Cap Rate 9%
$66,578

Alternative Uses

Best Use
Multifamily LT 5
$85.6K
$74.9K – $99.9K (±1% cap)
NOI $5,992 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$76.1K
$66.6K – $88.7K (±1% cap)
NOI $5,324 @ 7.0% cap · market cap 3.55%
Theoretical Best
Healthcare Medical
$153.4K
$134.2K – $178.9K (±1% cap)
NOI $10,736 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Lease Details

2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site

Location Intelligence

Trade Area within ½ mile

61
Businesses Nearby

Demographics for 39532, MS

34,348
Population
15,466
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
86%
High-School Grad
82.2 sq mi
ZIP Area
418
Density / Sq Mi
$65,892
Median Household Income
$40,751
Median Earnings
$1,098
Median Rent
$227,400
Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022
10.2% 2023
11.4% 2024
11.3% 2025
Rey
Questions? Ask Rey
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Frequently Asked Questions

What type of property is this?
Duplex - Both residences are occupied under month-to-month rental arrangements.
Where is this duplex located?
The property is located at 12506 A/b Lorraine Road Biloxi, MS.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units; Both units currently rented month to month; Each residence has its own mini split
More about this property
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