Duplex with Two Occupied
For Sale
$239,900
20029 Sunshine Drive, Long Beach, MS 39560
Residential Income, Long Beach, MS
Property Size1,979 SF
Lot Size0.27 Acres
Price / SF$121.22
Days on Market53
Property Features for 20029 Sunshine Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Parking
4
Patio and Porch features
Porch
Appliances
Range
Subdivision
Azalea Park
Lot features
Cul-De-Sac, Level, City Lot, Fenced, Cul-De-Sac, Level, City Lot, Fenced
Elementary school
W.J. Quarles
Middle school
Long Beach Middle School
High school
Long Beach High School
Directions
Daugherty Rd. to Sunshine Dr.
Standard status
Active
APN
0511h-03-016.014
Size
1,979 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 15 AZALEA PARK SUBD
Tax Annual Amount
2074
Legal Description
LOT 15 AZALEA PARK SUBD
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Water front
1
Building Details
Year built
2003
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Shingle
Listing Agency:
Beth Arnold Realty, LLC
(228) 284-1700
Listed By:
Beth Arnold · License #B18960
(228) 861-7458
Added: Jun 30
Changed: Aug 19
Last Checked: Aug 21 at 10:06AM
MLS# 4154414
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.
Duplex at 20029 Sunshine Drive in Long Beach, built in 2003 on a 0.27-acre lot. The property offers two separate units: Unit A is a 2BR/2BA layout, and Unit B is a 3BR/2BA layout. Both units are currently occupied by long-term tenants. Flooring includes carpet and vinyl, and the only listed appliance is a range. The home has a shingle roof and a porch.
For utilities, the property has public water and public sewer, with cable available. Tenant-paid utilities are listed as water, sewer, garbage, recycle, yard debris removal, power, internet, and cablevision. The owner pays property management, lawn care, taxes, and insurance. The property is being sold “as is,” and the home has just been leveled.
Showings require 24 hours’ notice, and tenants should not be disturbed.
For utilities, the property has public water and public sewer, with cable available. Tenant-paid utilities are listed as water, sewer, garbage, recycle, yard debris removal, power, internet, and cablevision. The owner pays property management, lawn care, taxes, and insurance. The property is being sold “as is,” and the home has just been leveled.
Showings require 24 hours’ notice, and tenants should not be disturbed.
Key Highlights
- Both units are occupied by long‑term tenants; please allow 24 hours notice for showings
- Unit A offers 2 bedrooms and 2 bathrooms
- Unit B offers 3 bedrooms and 2 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
$12,455
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
5.19%
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%
$249,100
$249.1K
Cap Rate 7%
$177,929
$177.9K
Cap Rate 9%
$138,389
$138.4K
Market Conditions
NOI Build-Up for 1,979 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
$19.2K $9.72/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$17.8K $8.99/SF
− OpEx
−$5.3K −$2.70/SF
NOI
$12.5K $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%
$249,100
Cap Rate 7%
$177,929
Cap Rate 9%
$138,389
Alternative Uses
Best Use
Multifamily LT 5
$177.9K
$155.7K – $207.6K
NOI $12,455 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$158.1K
$138.3K – $184.5K
NOI $11,067 @ 7.0% cap · market cap 4.61%
Theoretical Best
Healthcare Medical
$318.8K
$279.0K – $372.0K
NOI $22,317 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
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 - Duplex in Long Beach with Unit A (2BR/2BA) and Unit B (3BR/2BA), both occupied by long-term tenants.
Where is this duplex located?
The property is located at 20029 Sunshine Drive Long Beach, MS.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Both units are occupied by long‑term tenants; please allow 24 hours notice for showings; Unit A offers 2 bedrooms and 2 bathrooms; Unit B offers 3 bedrooms and 2 bathrooms
