Corner-Lot Duplex with
For Sale
$169,000
2125 22nd Avenue, Gulfport, MS 39501
Two residential units include recent interior updates in one apartment and a cinder block garage.
Property Size1,576 SF
Price / SF$107.23
Days on Market132
Property Features for 2125 22nd Avenue
General Information
Standard status
Active
Size
1,576 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$20,700
Taxes and HOA fees
Annual Taxes
$1,222
Amenities
True
One
Ceiling Fan(s), Central Air, Electric
Central, Electric, Natural Gas
Carpet, Vinyl
Electric Range, Range, Refrigerator
Public
Dead Bolt Lock(s)
2
3
Aluminum Frames
Ceiling Fan(s)
2.00
Asphalt Shingle
No
Smoke Detector(s)
Pillar/Post/Pier
Aluminum Siding, Siding
Front Porch, Rear Porch
Building Details
Year Built
1946
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd
(228) 860-0082
Listed By:
Philip J Leblanc · License #S30047
(228) 860-0082
Source:
Compass
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 8:59PM
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 Coldwell Banker Alfonso Realty-Lorraine Rd
Investment Insights
Based on property information with market context.
This 1,576-square-foot duplex contains two residential units with distinct configurations. Unit A offers 1 bedroom and 1 bath, along with new plank flooring and fresh paint. Unit B includes 2 bedrooms and 1 bath and is currently occupied. The property also includes an older cinder block garage that can provide storage or covered parking. Additional features include central air, ceiling fans, front and rear porches, aluminum siding, and pillar/post/pier construction. The duplex was built in 1946 and sits on a large corner lot.
The property is located at 2125 22nd Avenue in Gulfport, near downtown shopping, dining, entertainment, attractions, and gaming. Tenant showings require 24-hour notice.
The property is located at 2125 22nd Avenue in Gulfport, near downtown shopping, dining, entertainment, attractions, and gaming. Tenant showings require 24-hour notice.
Key Highlights
- 1,576‑square‑foot duplex on a large corner lot
- Unit mix includes 1‑bedroom, 1‑bath and 2‑bedroom, 1‑bath apartments
- Unit A features new plank flooring and fresh paint
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
$9,919
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
5.87%
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%
$198,380
$198.4K
Cap Rate 7%
$141,700
$141.7K
Cap Rate 9%
$110,211
$110.2K
Market Conditions
NOI Build-Up for 1,576 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
$15.3K $9.72/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$14.2K $8.99/SF
− OpEx
−$4.3K −$2.70/SF
NOI
$9.9K $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%
$198,380
Cap Rate 7%
$141,700
Cap Rate 9%
$110,211
Alternative Uses
Best Use
Multifamily LT 5
$141.7K
$124.0K – $165.3K
NOI $9,919 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$125.9K
$110.2K – $146.9K
NOI $8,813 @ 7.0% cap · market cap 5.21%
Theoretical Best
Healthcare Medical
$253.9K
$222.2K – $296.2K
NOI $17,773 @ 7.0% cap · market cap 10.52%
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
1,382
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 - Two residential units include recent interior updates in one apartment and a cinder block garage.
Where is this duplex located?
The property is located at 2125 22nd Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: 1,576‑square‑foot duplex on a large corner lot; Unit mix includes 1‑bedroom, 1‑bath and 2‑bedroom, 1‑bath apartments; Unit A features new plank flooring and fresh paint
