Remodeled Duplex with Two
For Sale
$232,500
20017 Sunshine Dr, Long Beach, MS 39560
Two separate residences provide a flexible configuration near shopping, dining, schools, parks, and Mississippi Gulf Coast beaches.
Property Size2,000 SF
Price / SF$116.25
Days on Market10
Property Features for 20017 Sunshine Dr
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1991
Buildings
1
Listing Agency:
Coldwell Banker Smith Home Rltrs-Os
(228) 697-5479
Listed By:
John Gomez · License #S54848
(228) 697-5479
Source:
Coasthomesms
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 4:37PM
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 Coldwell Banker Smith Home Rltrs-Os
Investment Insights
Based on property information with market context.
Located at 20017 Sunshine Drive in Long Beach, this duplex contains two distinct living units within approximately 2,000 square feet. The property includes six bedrooms and two bathrooms overall, with layouts designed around separate residential living areas. Recent remodeling has updated the property while retaining its two-unit configuration.
Built in 1991, the duplex is positioned near shopping, dining, schools, parks, and the Mississippi Gulf Coast beaches. The separate-unit arrangement supports a range of residential ownership and occupancy strategies without combining the living spaces into a single home.
Built in 1991, the duplex is positioned near shopping, dining, schools, parks, and the Mississippi Gulf Coast beaches. The separate-unit arrangement supports a range of residential ownership and occupancy strategies without combining the living spaces into a single home.
Key Highlights
- Two‑unit duplex configuration
- Approximately 2,000 square feet total
- Six bedrooms and two bathrooms
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
$12,587
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
5.41%
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%
$251,740
$251.7K
Cap Rate 7%
$179,814
$179.8K
Cap Rate 9%
$139,856
$139.9K
Market Conditions
NOI Build-Up for 2,000 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
$19.4K $9.72/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$18.0K $8.99/SF
− OpEx
−$5.4K −$2.70/SF
NOI
$12.6K $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%
$251,740
Cap Rate 7%
$179,814
Cap Rate 9%
$139,856
Alternative Uses
Best Use
Multifamily LT 5
$179.8K
$157.3K – $209.8K
NOI $12,587 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$159.8K
$139.8K – $186.4K
NOI $11,185 @ 7.0% cap · market cap 4.81%
Theoretical Best
Healthcare Medical
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 9.70%
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
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 39560, MS
18,611
Population
8,429
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
94%
High-School Grad
20.3 sq mi
ZIP Area
917
Density / Sq Mi
$73,090
Median Household Income
$40,000
Median Earnings
$1,196
Median Rent
$210,800
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 separate residences provide a flexible configuration near shopping, dining, schools, parks, and Mississippi Gulf Coast beaches.
Where is this duplex located?
The property is located at 20017 Sunshine Dr Long Beach, MS.
What is the asking price?
The asking price for this property is $232,500.
What are key features of this property?
This property features: Two‑unit duplex configuration; Approximately 2,000 square feet total; Six bedrooms and two bathrooms
