Duplex with Tenant-Occupied
For Sale
$220,000
2207 15th Avenue Unit A AND B, Gulfport, MS 39501
Two separate residential units offer a practical multifamily configuration near Gulfport’s downtown, beach, and casino areas.
Property Size2,132 SF
Price / SF$103.19
Days on Market240
Property Features for 2207 15th Avenue Unit A AND B
General Information
Standard status
Active
Size
2,132 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,682
Amenities
Public Sewer
One
True
Carpet, Tile
Public
4
6
In Hall, In Unit
4.00
Shingle
No
Slab
Siding
Covered, Front Porch
Building Details
Year Built
2009
Buildings
1
Listing Agency:
Real Estate Advisor Group, LLC
(601) 434-2741
Listed By:
Shauntale Wiltz · License #S59481
(601) 434-2741
Source:
Compass
Added: Jan 3
Changed: Aug 31
Last Checked: Aug 31 at 1:22AM
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 Real Estate Advisor Group, LLC
Investment Insights
Based on property information with market context.
Built in 2009, this duplex contains 2,132 square feet arranged as two residential units. Each unit includes 3 bedrooms and 2 full bathrooms, providing a consistent layout across the property. Both units are currently tenant-occupied. The building features siding over a slab foundation, shingle roofing, and covered front porches. Interior finishes include carpet and tile, with public water and public sewer serving the property.
The property is located at 2207 15th Avenue in Gulfport, with access to downtown Gulfport, the beach, and area casinos described as minutes away. Unit A and Unit B are included at the same address, creating a two-unit residential income property with established occupancy.
The property is located at 2207 15th Avenue in Gulfport, with access to downtown Gulfport, the beach, and area casinos described as minutes away. Unit A and Unit B are included at the same address, creating a two-unit residential income property with established occupancy.
Key Highlights
- Two‑unit duplex with 2,132 square feet
- Each unit has 3 bedrooms and 2 full bathrooms
- Both units are currently tenant‑occupied
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
$13,418
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
6.10%
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%
$268,360
$268.4K
Cap Rate 7%
$191,686
$191.7K
Cap Rate 9%
$149,089
$149.1K
Market Conditions
NOI Build-Up for 2,132 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
$20.7K $9.72/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$19.2K $8.99/SF
− OpEx
−$5.8K −$2.70/SF
NOI
$13.4K $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%
$268,360
Cap Rate 7%
$191,686
Cap Rate 9%
$149,089
Alternative Uses
Best Use
Multifamily LT 5
$191.7K
$167.7K – $223.6K
NOI $13,418 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$170.3K
$149.0K – $198.7K
NOI $11,923 @ 7.0% cap · market cap 5.42%
Theoretical Best
Healthcare Medical
$343.5K
$300.5K – $400.7K
NOI $24,043 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
621
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residential units offer a practical multifamily configuration near Gulfport’s downtown, beach, and casino areas.
Where is this duplex located?
The property is located at 2207 15th Avenue Unit A AND B Gulfport, MS.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,132 square feet; Each unit has 3 bedrooms and 2 full bathrooms; Both units are currently tenant‑occupied
