Recently Remodeled
New
For Sale
$232,500
20017 Sunshine Drive, Long Beach, MS 39560
Residential Income, Long Beach, MS
Property Size2,000 SF
Lot Size0.24 Acres
Price / SF$116.25
Days on Market2
Property Features for 20017 Sunshine Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 5
Subdivision
Azalea Park
Standard status
Active
APN
0511h-03-016.008
Size
2,000 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 9 AZALEA PARK SUBD
Tax Annual Amount
1653
Legal Description
LOT 9 AZALEA PARK SUBD
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Ellis Realty
(228) 343-3665
Listed By:
Laken Scarborough · License #S54848
(228) 669-5485
Added: Aug 20
Last Checked: Aug 21 at 11:06AM
MLS# 4159935
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.
This duplex at 20017 Sunshine Drive contains two separate living units with a combined layout of 6 bedrooms and 2 bathrooms across approximately 2,000 square feet. The property was built in 1991 and recently remodeled, with shingle roofing, public water, and public sewer. A 0.24-acre lot provides the setting for the improvements.
Located in Long Beach, the property is near shopping, dining, schools, parks, and Mississippi Gulf Coast beaches. The two-unit arrangement supports multiple ownership approaches, including occupying one residence while leasing the other, as specifically described for the property.
Located in Long Beach, the property is near shopping, dining, schools, parks, and Mississippi Gulf Coast beaches. The two-unit arrangement supports multiple ownership approaches, including occupying one residence while leasing the other, as specifically described for the property.
Key Highlights
- Two separate living units
- 6 bedrooms and 2 bathrooms
- Approximately 2,000 square feet total
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 living units provide a flexible residential income property configuration.
Where is this duplex located?
The property is located at 20017 Sunshine Drive 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 separate living units; 6 bedrooms and 2 bathrooms; Approximately 2,000 square feet total
