23-Unit Apartment
For Sale
$795,000
1115 Raymond Rd, Jackson, MS 39204
Exterior improvements are complete, with interior renovations remaining for the next ownership phase.
Property Size11,304 SF
Price / SF$70.33
Days on Market40
Property Features for 1115 Raymond Rd
General Information
Standard status
Active
Size
11,304 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
23
Building Details
Year Built
1974
Listing Agency:
Legacy Real Estate
Listed By:
Kara S Washington · License #B22997
(601) 398-2472
Source:
Fiorellaavenue
Added: Aug 30
Changed: Oct 6
Last Checked: Oct 7 at 1:04PM
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.
The property is a 23-unit apartment building with several major exterior projects already completed. Improvements include a newer roof, fresh exterior paint, and structural upgrades. Remaining work is concentrated on interior renovations, providing a defined scope for continued property improvement.
Located on Raymond Road in Jackson, Mississippi, the property offers access to shopping, employment centers, and major transportation routes. Its position along the Raymond Road corridor supports convenient connectivity within the surrounding area.
Located on Raymond Road in Jackson, Mississippi, the property offers access to shopping, employment centers, and major transportation routes. Its position along the Raymond Road corridor supports convenient connectivity within the surrounding area.
Key Highlights
- 23‑unit multifamily property at 1115 Raymond Road in Jackson, MS
- Newer roof has been installed
- Exterior painting has been completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,533
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,390,660
$1.4M
Cap Rate 7%
$993,329
$993.3K
Cap Rate 9%
$772,589
$772.6K
Market Conditions
NOI Build-Up for 11,304 SF
Gross rent
$135.6K $12.00/SF
− Vacancy
−$9.2K −$0.82/SF
EGI
$126.4K $11.18/SF
− OpEx
−$56.9K −$5.03/SF
NOI
$69.5K $6.15/SF
Area
Jackson, MS
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,390,660
Cap Rate 7%
$993,329
Cap Rate 9%
$772,589
Alternative Uses
Best Use
Apartment 5plus
$993.3K
$869.2K – $1.16M
NOI $69,533 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,594 @ 7.0% cap · market cap 17.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
23
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 39204, MS
15,433
Population
7,613
Households
2
Avg Household Size
33
Median Age
16%
College-Educated
78%
High-School Grad
9.4 sq mi
ZIP Area
1,642
Density / Sq Mi
$31,667
Median Household Income
$23,862
Median Earnings
$890
Median Rent
$68,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Exterior improvements are complete, with interior renovations remaining for the next ownership phase.
Where is this apartment building located?
The property is located at 1115 Raymond Rd Jackson, MS.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 23‑unit multifamily property at 1115 Raymond Road in Jackson, MS; Newer roof has been installed; Exterior painting has been completed
