Two-Unit
New
For Sale
$139,900
1427 Jo Ellen Circle, Gulfport, MS 39501
Residential duplex with two matching unit layouts and established rental use.
Property Size1,890 SF
Price / SF$74.02
Days on Market5
Property Features for 1427 Jo Ellen Circle
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$900
Building Details
Year Built
1955
Listing Agency:
Allied Realty Coastal Homes
Listed By:
John Gomez
(228) 697-5479
Source:
Coasthomesms
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 15 at 8:04AM
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 Allied Realty Coastal Homes
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 2 bedrooms and 1 bathroom. The building provides 1,890 square feet of total property size and was built in 1955.
Located at 1427 Jo Ellen Circle in Gulfport, Mississippi, the property offers a clearly defined two-unit configuration for residential income ownership.
Located at 1427 Jo Ellen Circle in Gulfport, Mississippi, the property offers a clearly defined two-unit configuration for residential income ownership.
Key Highlights
- Two residential units in one duplex property
- Each unit includes 2 bedrooms and 1 bathroom
- 1,890 square feet of property size
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
8.50%
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
Harrison 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 8.50%
Second Best
Apartment 5plus
$151.0K
$132.1K – $176.2K
NOI $10,569 @ 7.0% cap · market cap 7.55%
Theoretical Best
Healthcare Medical
$304.5K
$266.4K – $355.2K
NOI $21,314 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
844
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
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Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with two matching unit layouts and established rental use.
Where is this duplex located?
The property is located at 1427 Jo Ellen Circle Gulfport, MS.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Two residential units in one duplex property; Each unit includes 2 bedrooms and 1 bathroom; 1,890 square feet of property size
