Duplex with Fenced
For Sale
$230,000
16255 Rio Grande Street, Gulfport, MS 39501
Residential Income, Gulfport, MS
Property Size1,908 SF
Lot Size0.22 Acres
Price / SF$120.55
Days on Market49
Property Features for 16255 Rio Grande Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 3
Subdivision
Floral Estates
Standard status
Active
APN
0710h-01-039.001
Size
1,908 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 6 TO 8 BLK 73 FLORAL ESTATES SEC 29-7-11
Tax Annual Amount
2436
Legal Description
LOTS 6 TO 8 BLK 73 FLORAL ESTATES SEC 29-7-11
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2001
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Coastal Realty Group
(228) 280-8026
Listed By:
Cecilia N Patricks · License #S50131
(228) 669-6280
Added: Aug 9
Changed: Sep 23
Last Checked: Sep 26 at 1:06PM
MLS# 4158641
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2001, this duplex contains 1,908 square feet across two residential units on a 0.22-acre lot. Each unit has its own fenced backyard, providing distinct outdoor space for occupants. The property includes four bedrooms and four bathrooms in total, with public water and public sewer service. A shingle roof and cable availability are also documented.
One unit is occupied, while the second is vacant and available for a new tenant or owner occupant. The two-unit layout supports either separate occupancy or a combined live-in and rental arrangement, subject to applicable requirements. The property is located on Rio Grande Street in Gulfport, Mississippi.
One unit is occupied, while the second is vacant and available for a new tenant or owner occupant. The two-unit layout supports either separate occupancy or a combined live-in and rental arrangement, subject to applicable requirements. The property is located on Rio Grande Street in Gulfport, Mississippi.
Key Highlights
- Two‑unit duplex built in 2001
- 1,908 square feet on a 0.22‑acre lot
- Each unit includes its own fenced backyard
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
$12,008
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
5.22%
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%
$240,160
$240.2K
Cap Rate 7%
$171,543
$171.5K
Cap Rate 9%
$133,422
$133.4K
Market Conditions
NOI Build-Up for 1,908 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
$18.5K $9.72/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$17.2K $8.99/SF
− OpEx
−$5.1K −$2.70/SF
NOI
$12.0K $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%
$240,160
Cap Rate 7%
$171,543
Cap Rate 9%
$133,422
Alternative Uses
Best Use
Multifamily LT 5
$171.5K
$150.1K – $200.1K
NOI $12,008 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$152.4K
$133.4K – $177.8K
NOI $10,670 @ 7.0% cap · market cap 4.64%
Theoretical Best
Healthcare Medical
$307.4K
$269.0K – $358.6K
NOI $21,517 @ 7.0% cap · market cap 9.36%
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
115
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 offer separate fenced backyards and flexible occupancy options.
Where is this duplex located?
The property is located at 16255 Rio Grande Street Gulfport, MS.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2001; 1,908 square feet on a 0.22‑acre lot; Each unit includes its own fenced backyard
