Furnished Triplex with
For Sale
$799,000
15817 Peapatch Rd, Biloxi, MS 39532
Three separate homes include individual kitchens and laundry areas, with additional parking and workspace on the property.
Property Size3,959 SF
Price / SF$201.82
Days on Market8
Property Features for 15817 Peapatch Rd
General Information
Standard status
Active
Size
3,959 SF
Property subtype
Multi-Family
Building Details
Year Built
1980
Listing Agency:
Hope Realty, LLC
Listed By:
John Gomez
(228) 697-5479
Source:
Coasthomesms
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 5 at 5:53PM
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 Hope Realty, LLC
Investment Insights
Based on property information with market context.
This triplex comprises three furnished residences totaling 3,959 square feet on 2.12 acres. The front home has three bedrooms, one-and-a-half baths, a full kitchen, laundry area, and wood-burning fireplace. An attached one-car garage connects to an office. The middle residence, built in 2011, offers two bedrooms, one bath, a kitchen, laundry, and covered rear porch. The rear home dates to 1999 and includes two bedrooms, two baths, a kitchen, laundry, covered front porch, and a separate hot tub room. A greenhouse and pole barn add to the property’s outbuildings; the barn accommodates vehicles, an RV, or a boat. All three residences are furnished.
The property is less than one mile from The Promenade and near shopping, dining, entertainment, and I-10. Its features include multiple living spaces, on-site parking, and a mix of indoor and covered outdoor areas.
The property is less than one mile from The Promenade and near shopping, dining, entertainment, and I-10. Its features include multiple living spaces, on-site parking, and a mix of indoor and covered outdoor areas.
Key Highlights
- Three furnished residences with a combined 3,959 square feet of living space
- Set on 2.12 acres, less than one mile from The Promenade
- Front home has 3 bedrooms, 1.5 baths, fireplace, garage, and adjoining office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,917
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,340
$498.3K
Cap Rate 7%
$355,957
$356.0K
Cap Rate 9%
$276,856
$276.9K
Market Conditions
NOI Build-Up for 3,959 SF
Gross rent
$38.5K $9.72/SF
− Vacancy
−$2.9K −$0.73/SF
EGI
$35.6K $8.99/SF
− OpEx
−$10.7K −$2.70/SF
NOI
$24.9K $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 Rate 5%
$498,340
Cap Rate 7%
$355,957
Cap Rate 9%
$276,856
Alternative Uses
Best Use
Multifamily LT 5
$356.0K
$311.5K – $415.3K
NOI $24,917 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$316.3K
$276.8K – $369.0K
NOI $22,140 @ 7.0% cap · market cap 2.77%
Theoretical Best
Healthcare Medical
$637.8K
$558.1K – $744.1K
NOI $44,646 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 39532, MS
34,348
Population
15,466
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
86%
High-School Grad
82.2 sq mi
ZIP Area
418
Density / Sq Mi
$65,892
Median Household Income
$40,751
Median Earnings
$1,098
Median Rent
$227,400
Median Home Value
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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?
Triplex - Three separate homes include individual kitchens and laundry areas, with additional parking and workspace on the property.
Where is this triplex located?
The property is located at 15817 Peapatch Rd Biloxi, MS.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three furnished residences with a combined 3,959 square feet of living space; Set on 2.12 acres, less than one mile from The Promenade; Front home has 3 bedrooms, 1.5 baths, fireplace, garage, and adjoining office
