Raised Duplex with Gulf
For Sale
$539,000
153 Markham Drive Unit A&B, Gulfport, MS 39507
Two residences feature lofted bedroom layouts, balconies, and short-term rental zoning near Gulfport’s beach corridor.
Property Size3,166 SF
Price / SF$170.25
Days on Market343
Property Features for 153 Markham Drive Unit A&B
General Information
Standard status
Active
Size
3,166 SF
Property subtype
Multi Family
Zoning
STR
Units
Unit Mix
2 x 3BR+loft
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,965
Amenities
decks
Public Sewer
Two
Central Air
Forced Air
Carpet, Tile
Microwave, Range, Refrigerator, Washer/Dryer, Water Heater
Public
4
6
Laundry Room
Granite Counters, High Speed Internet
4.00
Architectural Shingles
Balcony
Pillar/Post/Pier
Siding
Building Details
Year Built
2014
Buildings
1
Listing Agency:
Welcome Home Real Estate, Inc.
(435) 496-0606
Listed By:
April P Cook · License #B23605
(435) 496-0606
Source:
Compass
Added: Sep 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:33PM
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 contains two residences, each with 3 bedrooms and a loft, creating a total of 3,166 square feet. The 2014 property includes a garage, balconies, a new roof, central air, forced-air heating, public sewer, and a dedicated laundry room. Interior finishes include granite counters, carpet and tile flooring, high-speed internet, and appliances including microwaves, ranges, refrigerators, washers, dryers, and water heaters.
The property is located on Markham Drive in Gulfport, near the beach, airport, casinos, golf, fishing, and restaurants. Gulf views are available from the decks and balconies. Short-term rental zoning is already in place, and no permit is required. The two-sided layout supports owner occupancy on one side with rental use on the other, subject to applicable operating requirements.
The property is located on Markham Drive in Gulfport, near the beach, airport, casinos, golf, fishing, and restaurants. Gulf views are available from the decks and balconies. Short-term rental zoning is already in place, and no permit is required. The two-sided layout supports owner occupancy on one side with rental use on the other, subject to applicable operating requirements.
Key Highlights
- 3,166‑square‑foot raised duplex with 3 bedrooms plus a loft on each side
- Built in 2014 with a new roof and a garage
- Gulf views from decks and balconies
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
3.70%
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 3.70%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.1K
NOI $17,705 @ 7.0% cap · market cap 3.28%
Theoretical Best
Healthcare Medical
$510.0K
$446.3K – $595.1K
NOI $35,703 @ 7.0% cap · market cap 6.62%
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 - Two residences feature lofted bedroom layouts, balconies, and short-term rental zoning near Gulfport’s beach corridor.
Where is this duplex located?
The property is located at 153 Markham Drive Unit A&B Gulfport, MS.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 3,166‑square‑foot raised duplex with 3 bedrooms plus a loft on each side; Built in 2014 with a new roof and a garage; Gulf views from decks and balconies
