Long Beach Duplex Investment
For Sale
$210,000
20017 Sunshine Drive, Long Beach, MS 39560
MULTI_FAMILY - Long Beach, MS
Property Size2,000 SF
Lot Size0.24 Acres
Price / SF$105
Days on Market191
Property Features for 20017 Sunshine Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 6
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: Feb 11
Changed: Jul 24
Last Checked: Aug 21 at 10:06AM
MLS# 4139182
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.
Located in Long Beach, Mississippi, the property at 20017 Sunshine Drive presents an investment opportunity. This well-maintained duplex contains two living units. Each unit features a functional layout. The property includes a total of 6 bedrooms and 2 bathrooms. The location provides access to local schools, parks, shopping, dining, and Gulf Coast beaches. The lot size is 0.24 acres, and the property size is 2000 square feet.
Key Highlights
- Duplex built in 1991 with 2 units under one roof
- Total of 6 bedrooms and 2 bathrooms across the duplex
- Public water source and public sewer connection
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
5.99%
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 5.99%
Second Best
Apartment 5plus
$159.8K
$139.8K – $186.4K
NOI $11,185 @ 7.0% cap · market cap 5.33%
Theoretical Best
Healthcare Medical
$322.2K
$281.9K – $375.9K
NOI $22,554 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained Long Beach duplex with strong rental income potential.
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 $210,000.
What are key features of this property?
This property features: Duplex built in 1991 with 2 units under one roof; Total of 6 bedrooms and 2 bathrooms across the duplex; Public water source and public sewer connection
