Brick Duplex with Studio
For Sale
$155,000
3039 Woodview Drive, Jackson, MS 39212
Two connected living spaces include a rented rear studio and a three-bedroom main residence.
Property Size1,593 SF
Price / SF$97.30
Days on Market660
Property Features for 3039 Woodview Drive
General Information
Standard status
Active
Size
1,593 SF
Property subtype
Multi Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
ready for your personal touch or updates
Units
Unit Mix
1 x 3BR/1BA, 1 x studio
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,419
Amenities
Public Sewer
One
Central Air
Central
Public
2
4
2.00
Asphalt
No
Slab
Brick
Building Details
Year Built
1956
Construction
brick
Tenancy
Multi
Listing Agency:
Legacy Real Estate
(601) 398-2472
Listed By:
Kara S Washington · License #B22997
(601) 398-2472
Source:
Compass
Added: Nov 10, 2024
Changed: Aug 30
Last Checked: Aug 31 at 10:17PM
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 Legacy Real Estate
Investment Insights
Based on property information with market context.
Built in 1956, this brick duplex contains 1,593 square feet across a three-bedroom, one-bath main residence and a separate studio apartment connected at the rear. The primary home offers a traditional layout with central air, while the property also includes a slab foundation, asphalt driveway, public water, and public sewer service.
Both units are currently rented, with the studio leased on a month-to-month basis. The residence sits on a spacious lot with mature trees and provides convenient access to major roads and city amenities. The additional studio creates a distinct second living area within the overall property configuration.
Both units are currently rented, with the studio leased on a month-to-month basis. The residence sits on a spacious lot with mature trees and provides convenient access to major roads and city amenities. The additional studio creates a distinct second living area within the overall property configuration.
Key Highlights
- 1,593‑square‑foot duplex with a three‑bedroom, one‑bath main residence
- Separate studio apartment connected at the rear of the property
- Both units currently rented
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
$10,498
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
6.77%
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%
$209,960
$210.0K
Cap Rate 7%
$149,971
$150.0K
Cap Rate 9%
$116,644
$116.6K
Market Conditions
NOI Build-Up for 1,593 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
$16.2K $10.20/SF
− Vacancy
−$1.3K −$0.79/SF
EGI
$15.0K $9.41/SF
− OpEx
−$4.5K −$2.82/SF
NOI
$10.5K $6.59/SF
Area
Jackson, MS
Vacancy
7.70%
Lease Rate
$10.20 /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%
$209,960
Cap Rate 7%
$149,971
Cap Rate 9%
$116,644
Alternative Uses
Best Use
Multifamily LT 5
$150.0K
$131.2K – $175.0K
NOI $10,498 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$140.0K
$122.5K – $163.3K
NOI $9,799 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$273.0K
$238.9K – $318.5K
NOI $19,108 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Explore this area
Business Placement
Demographics for 39212, MS
29,087
Population
12,738
Households
2.3
Avg Household Size
36
Median Age
22%
College-Educated
89%
High-School Grad
29.6 sq mi
ZIP Area
983
Density / Sq Mi
$53,300
Median Household Income
$31,604
Median Earnings
$1,128
Median Rent
$105,500
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?
Duplex - Two connected living spaces include a rented rear studio and a three-bedroom main residence.
Where is this duplex located?
The property is located at 3039 Woodview Drive Jackson, MS.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 1,593‑square‑foot duplex with a three‑bedroom, one‑bath main residence; Separate studio apartment connected at the rear of the property; Both units currently rented
