Sprawling Residential Income
For Sale
$945,000
219 Bass Road, Florence, MS 39073
MULTI_FAMILY - Florence, MS
Property Size7,401 SF
Lot Size5.00 Acres
Price / SF$127.69
Days on Market124
Property Features for 219 Bass Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 11, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 4, Bedroom 12, Bathroom 6, Bathroom 1, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 6, Bedroom 5, Bedroom 9, Bedroom 10, Bathroom 7, Bathroom 3, Bedroom 8, Bathroom 5
Fireplace
1
Subdivision
Metes And Bounds
Lot features
Landscaped, Few Trees, Landscaped, Few Trees
High school
Mendenhall
Elementary school district
Simpson CO Dist
Middle school district
Simpson CO Dist
High school district
Simpson CO Dist
Directions
Take County Line Rd to Bass Rd. Take a left on Bass Rd, house is on the right.
Standard status
Active
APN
1-0750-15-00000-000-00311
Size
7,401 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
5 AC PT W 1/2 SW 1/4 N/O RD
Tax Annual Amount
5119
Legal Description
5 AC PT W 1/2 SW 1/4 N/O RD
Utilities
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Roof type
Shingle
Listing Agency:
NextHome Realty Experience
(601) 521-2866
Listed By:
Ryan Porter · License #B22802
(601) 238-6620
Added: Apr 21
Changed: Jul 24
Last Checked: Aug 22 at 1:06PM
MLS# 4146766
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.
Set on five acres at 219 Bass Road in Florence, this sprawling property was formerly operated as a country nursing home and now features two substantial brick homes. Each home has been updated with new roofs, and both offer multi-bedroom layouts designed for accommodating groups.
Home 1 includes a dining and entertainment room flowing into the kitchen, six bedrooms with 16 closets, three full bathrooms, and a dedicated laundry room. Home 2 is accessed by a short walk and offers six oversized bedrooms with 16 closets, three remodeled bathrooms, and a laundry room with hookups for three washers and three dryers. Home 2 also includes two kitchen areas, a spacious dining area, a den with a fireplace, and an expansive screened-in back porch, along with a new central HVAC.
Additional on-site are three mobile homes behind House 2. These units would need rehabilitation before use. The combined configuration is presented as capable of housing 30+ people within the property’s residential compound setting.
Home 1 includes a dining and entertainment room flowing into the kitchen, six bedrooms with 16 closets, three full bathrooms, and a dedicated laundry room. Home 2 is accessed by a short walk and offers six oversized bedrooms with 16 closets, three remodeled bathrooms, and a laundry room with hookups for three washers and three dryers. Home 2 also includes two kitchen areas, a spacious dining area, a den with a fireplace, and an expansive screened-in back porch, along with a new central HVAC.
Additional on-site are three mobile homes behind House 2. These units would need rehabilitation before use. The combined configuration is presented as capable of housing 30+ people within the property’s residential compound setting.
Key Highlights
- Two substantial 3,000 sq ft +- brick homes built in 1985, plus three mobile homes behind House 2 (rehabilitation needed).
- Layout accommodates large groups with six bedrooms and three full bathrooms in Home 1, plus a dedicated laundry room.
- Home 2 features six oversized bedrooms, three remodeled bathrooms, two kitchen areas, a den with fireplace, and a screened‑in back porch.
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
$51,755
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
5.48%
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%
$1,035,100
$1.0M
Cap Rate 7%
$739,357
$739.4K
Cap Rate 9%
$575,056
$575.1K
Market Conditions
NOI Build-Up for 7,401 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
$79.9K $10.80/SF
− Vacancy
−$6.0K −$0.81/SF
EGI
$73.9K $9.99/SF
− OpEx
−$22.2K −$3.00/SF
NOI
$51.8K $6.99/SF
Area
Rankin County, MS
Vacancy
7.50%
Lease Rate
$10.80 /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%
$1,035,100
Cap Rate 7%
$739,357
Cap Rate 9%
$575,056
Alternative Uses
Best Use
Multifamily LT 5
$739.4K
$646.9K – $862.6K
NOI $51,755 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$655.5K
$573.6K – $764.8K
NOI $45,887 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,099 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 39073, MS
20,613
Population
8,707
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
85%
High-School Grad
161.1 sq mi
ZIP Area
128
Density / Sq Mi
$72,099
Median Household Income
$38,123
Median Earnings
$886
Median Rent
$180,900
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 updated brick homes plus three additional mobile homes on five acres, suited for large-group living arrangements.
Where is this duplex located?
The property is located at 219 Bass Road Florence, MS.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Two substantial 3,000 sq ft +- brick homes built in 1985, plus three mobile homes behind House 2 (rehabilitation needed).; Layout accommodates large groups with six bedrooms and three full bathrooms in Home 1, plus a dedicated laundry room.; Home 2 features six oversized bedrooms, three remodeled bathrooms, two kitchen areas, a den with fireplace, and a screened‑in back porch.
