Raised Duplex with Gulf
For Sale
$506,000
153 Markham Dr, Gulfport, MS 39507
Each residence includes a loft, private deck, and Gulf views.
Property Size3,166 SF
Price / SF$159.82
Days on Market53
Property Features for 153 Markham Dr
General Information
Standard status
Active
Size
3,166 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR+loft
Multifamily Units
2
Amenities
deck
garage
Building Details
Buildings
1
Listing Agency:
Welcome Home Real Estate, Inc.
(801) 326-8800
Listed By:
April P Cook · License #B23605
Source:
Fiorellaavenue
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 30 at 7:13PM
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 Welcome Home Real Estate, Inc.
Investment Insights
Based on property information with market context.
This raised duplex offers two matching residences, each arranged with 3 bedrooms plus a loft. Both sides feature decks oriented toward Gulf views, while a large garage provides substantial enclosed storage or parking capacity. A new roof adds a recent improvement to the property.
The duplex is located at 153 Markham Drive in Gulfport, near the beach, restaurants, fishing, golf, casinos, and the airport. The property is positioned for an owner-occupant arrangement with rental use on the other side, or continued use as a rental property. Short-term rental zoning is already in place, with no permit required according to the provided property information. Furniture is also available for sale.
The duplex is located at 153 Markham Drive in Gulfport, near the beach, restaurants, fishing, golf, casinos, and the airport. The property is positioned for an owner-occupant arrangement with rental use on the other side, or continued use as a rental property. Short-term rental zoning is already in place, with no permit required according to the provided property information. Furniture is also available for sale.
Key Highlights
- Two residences, each with 3 bedrooms plus a loft
- Gulf‑facing decks provide views from both sides
- Raised duplex design with a large garage
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
$19,926
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
3.94%
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%
$398,520
$398.5K
Cap Rate 7%
$284,657
$284.7K
Cap Rate 9%
$221,400
$221.4K
Market Conditions
NOI Build-Up for 3,166 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
$30.8K $9.72/SF
− Vacancy
−$2.3K −$0.73/SF
EGI
$28.5K $8.99/SF
− OpEx
−$8.5K −$2.70/SF
NOI
$19.9K $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%
$398,520
Cap Rate 7%
$284,657
Cap Rate 9%
$221,400
Alternative Uses
Best Use
Multifamily LT 5
$284.7K
$249.1K – $332.1K
NOI $19,926 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.1K
NOI $17,705 @ 7.0% cap · market cap 3.50%
Theoretical Best
Healthcare Medical
$510.0K
$446.3K – $595.1K
NOI $35,703 @ 7.0% cap · market cap 7.06%
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
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
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 - Each residence includes a loft, private deck, and Gulf views.
Where is this duplex located?
The property is located at 153 Markham Dr Gulfport, MS.
What is the asking price?
The asking price for this property is $506,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms plus a loft; Gulf‑facing decks provide views from both sides; Raised duplex design with a large garage
