Two-Unit Duplex with Airbnb
For Sale
$259,500
141 W 5th St, Hattiesburg, MS 39401
Duplex with one long-term tenant and one established short-term rental in Hattiesburg’s North Main Historic District.
Property Size1,890 SF
Price / SF$137.30
Days on Market14
Property Features for 141 W 5th St
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Listing Agency:
Crescent Sotheby's International Realty
(504) 444-8670
Listed By:
Gary Adams
(504) 444-8670
Source:
Exprealty
Added: Aug 6
Changed: Aug 13
Last Checked: Aug 19 at 1:26PM
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 Crescent Sotheby's International Realty
Investment Insights
Based on property information with market context.
This duplex contains two mirrored units, each configured with two bedrooms and two bathrooms. The 1,890-square-foot property includes a long-term tenant in one unit, while the other operates as an Airbnb, creating two distinct occupancy arrangements within the same asset.
Located in Hattiesburg’s North Main Historic District, the property is positioned near downtown attractions, including Bourbon on Front, Trattoria Pizzeria, Town Square Park, Southbound Bagel and Coffee Shop, The Lucky Rabbit, Main Street’s antique shops and galleries, and the Saenger Theater. The property address is 141 W 5th St, Hattiesburg, MS.
Located in Hattiesburg’s North Main Historic District, the property is positioned near downtown attractions, including Bourbon on Front, Trattoria Pizzeria, Town Square Park, Southbound Bagel and Coffee Shop, The Lucky Rabbit, Main Street’s antique shops and galleries, and the Saenger Theater. The property address is 141 W 5th St, Hattiesburg, MS.
Key Highlights
- 1,890‑square‑foot duplex at 141 W 5th St, Hattiesburg, MS
- Two units, each with 2 bedrooms and 2 bathrooms
- One unit occupied by a long‑term tenant
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
$11,895
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
4.58%
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%
$237,900
$237.9K
Cap Rate 7%
$169,929
$169.9K
Cap Rate 9%
$132,167
$132.2K
Market Conditions
NOI Build-Up for 1,890 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
$18.4K $9.72/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$17.0K $8.99/SF
− OpEx
−$5.1K −$2.70/SF
NOI
$11.9K $6.29/SF
Area
Forrest 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%
$237,900
Cap Rate 7%
$169,929
Cap Rate 9%
$132,167
Alternative Uses
Best Use
Multifamily LT 5
$169.9K
$148.7K – $198.3K
NOI $11,895 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$151.0K
$132.1K – $176.2K
NOI $10,569 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$311.0K
$272.2K – $362.9K
NOI $21,773 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
Explore this area
Business Placement
Demographics for 39401, MS
43,183
Population
20,232
Households
2.1
Avg Household Size
32
Median Age
28%
College-Educated
89%
High-School Grad
188.9 sq mi
ZIP Area
229
Density / Sq Mi
$40,287
Median Household Income
$25,697
Median Earnings
$932
Median Rent
$120,100
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 - Duplex with one long-term tenant and one established short-term rental in Hattiesburg’s North Main Historic District.
Where is this duplex located?
The property is located at 141 W 5th St Hattiesburg, MS.
What is the asking price?
The asking price for this property is $259,500.
What are key features of this property?
This property features: 1,890‑square‑foot duplex at 141 W 5th St, Hattiesburg, MS; Two units, each with 2 bedrooms and 2 bathrooms; One unit occupied by a long‑term tenant
