Vacant Duplex with Central
For Sale
$81,000
2013 32nd Avenue, Gulfport, MS 39501
Both units are vacant and offered together with central air and kitchen appliances.
Property Size1,000 SF
Price / SF$81
Days on Market365
Property Features for 2013 32nd Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
fixer
Additional Details
Asking Price
$160,000
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,053
Amenities
Central Air
3
Carpet, Linoleum
Range, Refrigerator
Asphalt
Parking.
2 Parking Spaces. Parking Pad, Driveway, Concrete Driveway.
Vinyl
No Pool
Building Details
Year Built
2006
Stories
1
Listing Agency:
Re/max Choice Properties
(228) 896-3033
Listed By:
Terry Medley · License #B21384
(228) 229-6954
Source:
Xome
Added: Sep 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:01PM
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 Re/max Choice Properties
Investment Insights
Based on property information with market context.
Built in 2006, this duplex contains two residential units, each offering 3 bedrooms and 2 bathrooms. Both sides are currently vacant and are being offered together in as-is condition. Interior features include central air, carpet and linoleum flooring, and kitchen appliances consisting of a range and refrigerator.
The property includes a newer roof and exterior parking improvements, including a parking pad, driveway, concrete driveway, and 2 parking spaces. Vinyl siding and an asphalt surface are also noted, while the property does not include a pool. Each side measures 1073 square feet.
The property includes a newer roof and exterior parking improvements, including a parking pad, driveway, concrete driveway, and 2 parking spaces. Vinyl siding and an asphalt surface are also noted, while the property does not include a pool. Each side measures 1073 square feet.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms on each side
- Each side measures 1073 square feet
- Both units are vacant and offered together
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
$6,294
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
7.77%
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%
$125,880
$125.9K
Cap Rate 7%
$89,914
$89.9K
Cap Rate 9%
$69,933
$69.9K
Market Conditions
NOI Build-Up for 1,000 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
$9.7K $9.72/SF
− Vacancy
−$729 −$0.73/SF
EGI
$9.0K $8.99/SF
− OpEx
−$2.7K −$2.70/SF
NOI
$6.3K $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%
$125,880
Cap Rate 7%
$89,914
Cap Rate 9%
$69,933
Alternative Uses
Best Use
Multifamily LT 5
$89.9K
$78.7K – $104.9K
NOI $6,294 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$79.9K
$69.9K – $93.2K
NOI $5,592 @ 7.0% cap · market cap 6.90%
Theoretical Best
Healthcare Medical
$161.1K
$141.0K – $188.0K
NOI $11,277 @ 7.0% cap · market cap 13.92%
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
1,066
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are vacant and offered together with central air and kitchen appliances.
Where is this duplex located?
The property is located at 2013 32nd Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $81,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms on each side; Each side measures 1073 square feet; Both units are vacant and offered together
