Duplex with Private
For Sale
$287,000
Pending
2116 Magazine Street lot A & B, Ocean Springs, MS 39564
Residential Income, Ocean Springs, MS
Property Size2,970 SF
Lot Size0.10 Acres
Days on Market100
Property Features for 2116 Magazine Street lot A & B
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 5, Bathroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3
Parking
4
Patio and Porch features
Porch
Pool private
1
Subdivision
Orleans Place
Lot features
Zero Lot Line, Zero Lot Line
Elementary school
St Martin East
Middle school
St Martin Middle School
High school
St Martin
Standard status
Pending
APN
0-61-30-075.000
Size
2,970 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 75 ORLEANS PLACE PH I PB 23-71 (260 MAP783.08) DB 1765-490
Tax Annual Amount
2341
HOA Fee
$45 Monthly
Legal Description
LOT 75 ORLEANS PLACE PH I PB 23-71 (260 MAP783.08) DB 1765-490
Utilities
Sewer type
Public Sewer
Water source
Private
Building Details
Year built
2009
Floors in Building
2
Number of units
2
Flooring type
Carpet
Roof type
Shingle
Listing Agency:
Century 21 Busch Realty Group · Century 21 Real Estate
(228) 324-1715
Listed By:
Jodi S Busch · License #B20940
(228) 669-0211
Added: May 22
Changed: Aug 28
Last Checked: Aug 29 at 12:06AM
MLS# 4150558
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.
Built in 2009, this duplex contains 2,970 square feet across two residences, with each side offering three bedrooms, three full bathrooms, carpeted floors, an open layout, and a porch. The property includes a private pool and is situated on a 0.1-acre lot. Public sewer and private water serve the structure, which has a shingle roof.
Both units are occupied, and tenants handle lawn care as well as HOA fees. Showings require at least 24 hours’ notice. The property is located near interstate access, downtown Ocean Springs, shopping, restaurants, and entertainment, with the address at 2116 Magazine Street, lots A and B.
Both units are occupied, and tenants handle lawn care as well as HOA fees. Showings require at least 24 hours’ notice. The property is located near interstate access, downtown Ocean Springs, shopping, restaurants, and entertainment, with the address at 2116 Magazine Street, lots A and B.
Key Highlights
- 2,970‑square‑foot duplex on a 0.1‑acre lot
- Two units, each with 3 bedrooms and 3 full bathrooms
- Private pool and porch included
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
$20,581
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
7.17%
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%
$411,620
$411.6K
Cap Rate 7%
$294,014
$294.0K
Cap Rate 9%
$228,678
$228.7K
Market Conditions
NOI Build-Up for 2,970 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
$31.7K $10.68/SF
− Vacancy
−$2.3K −$0.78/SF
EGI
$29.4K $9.90/SF
− OpEx
−$8.8K −$2.97/SF
NOI
$20.6K $6.93/SF
Area
Jackson County, MS
Vacancy
7.31%
Lease Rate
$10.68 /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%
$411,620
Cap Rate 7%
$294,014
Cap Rate 9%
$228,678
Alternative Uses
Best Use
Multifamily LT 5
$294.0K
$257.3K – $343.0K
NOI $20,581 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$255.9K
$223.9K – $298.5K
NOI $17,912 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$811.4K
$710.0K – $946.6K
NOI $56,796 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 39564, MS
42,539
Population
18,908
Households
2.2
Avg Household Size
39
Median Age
40%
College-Educated
94%
High-School Grad
53.3 sq mi
ZIP Area
798
Density / Sq Mi
$77,300
Median Household Income
$43,754
Median Earnings
$1,314
Median Rent
$220,000
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 - Fully occupied duplex with matching three-bedroom layouts, private pool, porch, and tenant-managed lawn care.
Where is this duplex located?
The property is located at 2116 Magazine Street lot A & B Ocean Springs, MS.
What is the asking price?
The asking price for this property is $287,000.
What are key features of this property?
This property features: 2,970‑square‑foot duplex on a 0.1‑acre lot; Two units, each with 3 bedrooms and 3 full bathrooms; Private pool and porch included
