Rehab Duplex with
134 Oak Grove Place Biloxi, MS 39530
134 Oak Grove Place, Biloxi, MS, 39530
$220,000
For Sale
$220,000
Gutted cottage-style duplex is ready for a rebuild with new windows, re-shoring, and initial framing setup underway.
Property Size1,596 SF
Price / SF$137.84
Days on Market423
Property Features for 134 Oak Grove Place
General Information
- Standard status
- Active
- Size
- 1,596 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1944
Listing agency
Keller Williams
(228) 326-6680
Listed by
Jonathan D Griffin · License #S50050
(228) 326-6680
Source
Compass
Added: May 26, 2025 Updated: Jul 22 at 6:14PM Checked: Jul 22 at 6:14PM
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 Keller Williams
Investment Insights
Based on property information with market context.
This duplex property is cottage-styled and currently gutted, positioned for a rehabilitation with pre-work already completed. The existing architectural design provides 1 bedroom and 1 full bath per unit, with features noted for the living room including high ceilings and a fireplace, as shown in the provided future floor plan. New windows have been installed, the foundation has been re-shored, new floor decking has been laid, and studs for framing out the two units have begun, helping streamline the next phase of construction.
The property is located off Howard Ave and one street west of Seal Ave on Oak Grove Place, which is described as a dead-end street with gulf views.
As stated in the remarks, the property may qualify for the Biloxi Main Street Downtown Housing Incentive, which could provide $25,000 per unit upon application and approval (details available on file).
The property is located off Howard Ave and one street west of Seal Ave on Oak Grove Place, which is described as a dead-end street with gulf views.
As stated in the remarks, the property may qualify for the Biloxi Main Street Downtown Housing Incentive, which could provide $25,000 per unit upon application and approval (details available on file).
Key Highlights
- Gutted cottage‑style duplex (1944) ready for a rebuild, with rehab pre‑work already underway
- Pre‑work completed: new windows installed, foundation re‑shored, new floor decking laid, and framing studs started for both units
- Designed for 1 bedroom and 1 full bath per unit, with high ceilings and a fireplace in the living room (per future floor plan)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.5k | $9.72 |
| − Vacancy | −$1.2k | −$0.73 |
| EGI | $14.3k | $8.99 |
| − OpEx | −$4.3k | −$2.70 |
| NOI | $10.0k | $6.29 |
1,596 SF · lease $9.72/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$143.5K
$125.6K – $167.4K
NOI $10,045 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$127.5K
$111.6K – $148.8K
NOI $8,925 @ 7.0% cap · market cap 4.06%
Theoretical Best
Healthcare Medical
$257.1K
$225.0K – $300.0K
NOI $17,998 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Gutted cottage-style duplex is ready for a rebuild with new windows, re-shoring, and initial framing setup underway.
Where is this duplex located?
The property is located at 134 Oak Grove Place Biloxi, MS.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Gutted cottage‑style duplex (1944) ready for a rebuild, with rehab pre‑work already underway; Pre‑work completed: new windows installed, foundation re‑shored, new floor decking laid, and framing studs started for both units; Designed for 1 bedroom and 1 full bath per unit, with high ceilings and a fireplace in the living room (per future floor plan)
