5-Unit Apartment
For Sale
$290,000
1423 Jo Ellen Circle, Gulfport, MS 39501
Residential Income, Gulfport, MS
Property Size3,120 SF
Lot Size0.20 Acres
Price / SF$92.95
Days on Market262
Property Features for 1423 Jo Ellen Circle
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
15
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 8, Bedroom 13, Bedroom 3, Bedroom 15, Bedroom 1, Bedroom 12, Bedroom 6, Bedroom 9, Bathroom 3, Bathroom 4, Bedroom 10, Bedroom 2, Bathroom 5, Bathroom 1, Bedroom 14, Bedroom 5, Bedroom 11, Bedroom 4, Bedroom 7
Parking
8
Exterior features
Private Yard
Subdivision
Owen Place
Lot features
Near Beach, Near Beach
Standard status
Active
APN
0711k-04-037.002
Size
3,120 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1423 OWEN HOMES SUBD PHASE 2
Tax Annual Amount
3226
Legal Description
LOT 1423 OWEN HOMES SUBD PHASE 2
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1970
Floors in Building
2
Number of units
5
Roof type
Metal
Buildings
1
Listing Agency:
Keller Williams · Keller Williams Realty
(228) 275-7500
Listed By:
Elizabeth Wackenhut · License #S57105
(251) 377-0884
Added: Feb 9
Changed: Oct 26
Last Checked: Oct 29 at 10:06AM
MLS# 4138627
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.
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Investment Insights
Based on property information with market context.
Built in 1970, this 3,120-square-foot apartment property has a five-unit layout in an unfinished condition and is offered as-is. The planned configuration assigns three apartments to the upper level and two to the lower level, each designed with three bedrooms, one bathroom, a kitchen, and a living room. In total, the plan provides 15 bedrooms and five bathrooms on a 0.20-acre lot.
Work completed in 2025 includes a metal roof, a perimeter wood privacy fence, exterior paint, two French double doors, and five mailboxes. Concrete parking is in place at the front for all five apartments. The property also has public water and sewer service.
Work completed in 2025 includes a metal roof, a perimeter wood privacy fence, exterior paint, two French double doors, and five mailboxes. Concrete parking is in place at the front for all five apartments. The property also has public water and sewer service.
Key Highlights
- Five‑apartment layout planned across two levels
- 3,120 square feet on a 0.20‑acre parcel
- Planned configuration totals 15 bedrooms and five bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,448
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,960
$349.0K
Cap Rate 7%
$249,257
$249.3K
Cap Rate 9%
$193,867
$193.9K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$34.4K $11.04/SF
− Vacancy
−$2.7K −$0.87/SF
EGI
$31.7K $10.17/SF
− OpEx
−$14.3K −$4.58/SF
NOI
$17.4K $5.59/SF
Area
Harrison County, MS
Vacancy
7.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,960
Cap Rate 7%
$249,257
Cap Rate 9%
$193,867
Alternative Uses
Best Use
Apartment 5plus
$249.3K
$218.1K – $290.8K
NOI $17,448 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$502.6K
$439.8K – $586.4K
NOI $35,184 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The unfinished building has a planned mix of three upstairs apartments and two on the ground floor.
Where is this apartment building located?
The property is located at 1423 Jo Ellen Circle Gulfport, MS.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Five‑apartment layout planned across two levels; 3,120 square feet on a 0.20‑acre parcel; Planned configuration totals 15 bedrooms and five bathrooms
