Two-Unit
New
For Sale
$139,900
1429 Jo Ellen Circle, Gulfport, MS 39501
Two residential units each provide a two-bedroom, one-bath configuration for rental use.
Property Size1,000 SF
Price / SF$139.90
Days on Market3
Property Features for 1429 Jo Ellen Circle
General Information
Standard status
Active
Size
1,000 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
1965
Listing Agency:
Ellis Realty
Listed By:
John Gomez
(228) 697-5479
Source:
Coasthomesms
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 13 at 7:56AM
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 Ellis Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each offering two bedrooms and one bathroom. The property has a stated size of 1,000 and was built in 1965. Public information also notes an established rental history across both units.
Located at 1429 Jo Ellen Circle in Gulfport, Mississippi, the property is positioned as a residential income asset with two separate unit configurations. Its duplex format provides a straightforward option for buyers seeking a small multifamily property.
Located at 1429 Jo Ellen Circle in Gulfport, Mississippi, the property is positioned as a residential income asset with two separate unit configurations. Its duplex format provides a straightforward option for buyers seeking a small multifamily property.
Key Highlights
- Two residential units within a duplex configuration
- Each unit includes 2 bedrooms and 1 bathroom
- Property size listed as 1,000
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
$6,294
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
4.50%
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%
$125,880
$125.9K
Cap Rate 7%
$89,914
$89.9K
Cap Rate 9%
$69,933
$69.9K
Market Conditions
NOI Build-Up for 1,000 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
$9.7K $9.72/SF
− Vacancy
−$729 −$0.73/SF
EGI
$9.0K $8.99/SF
− OpEx
−$2.7K −$2.70/SF
NOI
$6.3K $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%
$125,880
Cap Rate 7%
$89,914
Cap Rate 9%
$69,933
Alternative Uses
Best Use
Multifamily LT 5
$89.9K
$78.7K – $104.9K
NOI $6,294 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$79.9K
$69.9K – $93.2K
NOI $5,592 @ 7.0% cap · market cap 4.00%
Theoretical Best
Healthcare Medical
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 8.06%
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
Check the figures for this property
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 - Two residential units each provide a two-bedroom, one-bath configuration for rental use.
Where is this duplex located?
The property is located at 1429 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 within a duplex configuration; Each unit includes 2 bedrooms and 1 bathroom; Property size listed as 1,000
