Two-Unit Duplex
For Sale
$199,999
1904 22nd Avenue, Gulfport, MS 39501
One unit is occupied, while the other is available for immediate occupancy.
Property Size1,754 SF
Days on Market265
Property Features for 1904 22nd Avenue
General Information
Standard status
Active
Size
1,754 SF
Property subtype
Commercial
Building Details
Building Size
1,754 SF
Stories
2
Tenancy
Multi
Listing Agency:
Southeast Properties
(228) 806-5048
Listed By:
Amanda Cumberland · License #S48867
(228) 806-5048
Source:
Jdanielrealtysells
Added: Nov 19, 2025
Changed: Aug 10
Last Checked: Aug 11 at 2:10PM
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 Southeast Properties
Investment Insights
Based on property information with market context.
This duplex in Gulfport, Mississippi, includes two separate units with an existing occupant in one and the second unit open for immediate occupancy. The configuration provides a combination of current occupancy and near-term leasing flexibility.
Located at 1904 22nd Avenue, the property is identified as a duplex and multifamily asset. Its two-unit layout supports residential income use, with one unit currently occupied and the other positioned for a new occupant.
Located at 1904 22nd Avenue, the property is identified as a duplex and multifamily asset. Its two-unit layout supports residential income use, with one unit currently occupied and the other positioned for a new occupant.
Key Highlights
- Two‑unit duplex configuration
- One unit currently occupied
- Second unit available for immediate occupancy
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
$11,039
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
5.52%
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%
$220,780
$220.8K
Cap Rate 7%
$157,700
$157.7K
Cap Rate 9%
$122,656
$122.7K
Market Conditions
NOI Build-Up for 1,754 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
$17.0K $9.72/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$15.8K $8.99/SF
− OpEx
−$4.7K −$2.70/SF
NOI
$11.0K $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%
$220,780
Cap Rate 7%
$157,700
Cap Rate 9%
$122,656
Alternative Uses
Best Use
Multifamily LT 5
$157.7K
$138.0K – $184.0K
NOI $11,039 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$140.1K
$122.6K – $163.5K
NOI $9,809 @ 7.0% cap · market cap 4.90%
Theoretical Best
Healthcare Medical
$282.6K
$247.3K – $329.7K
NOI $19,780 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,372
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One unit is occupied, while the other is available for immediate occupancy.
Where is this duplex located?
The property is located at 1904 22nd Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Two‑unit duplex configuration; One unit currently occupied; Second unit available for immediate occupancy
