Waterfront
2231 E Simmons Bayou Dr, Ocean Springs, MS 39564
For Sale
$299,900
Bayou access, a pier, and flexible rental use distinguish this two-cottage property in Gulf Park Estates.
Property Size1,456 SF
Price / SF$205.98
Days on Market51
Property Features for 2231 E Simmons Bayou Dr
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Amenities
waterfront
pier
grilling area
Building Details
Year Built
Listing Agency:
RE/MAX Coast Delta Realty
Listed By:
John Gomez
(228) 697-5479
Source:
Coasthomesms
Added: Sep 18
Changed: Nov 6
Last Checked: Nov 6 at 8:58AM
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 Coast Delta Realty
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Investment Insights
Based on property information with market context.
This 2008 duplex consists of two cottages with a combined 1,456 square feet of living space, five bedrooms, and two full bathrooms. Vinyl plank flooring runs throughout, and the interiors feature neutral paint. Kitchen appliances remain with the property; the washer and dryer are excluded. Covered areas beneath the cottages provide space for grilling and outdoor gatherings, while the backyard connects directly to the bayou and the pier accommodates boats and paddlecraft.
Located at 2231 E Simmons Bayou Dr in Ocean Springs, the property is within Gulf Park Estates and offers access to two public boat launches. Side-yard space can accommodate an RV. The county setting supports both short-term and long-term rental use, and restaurants and live entertainment are located across the street at The Bayou Bar and Grill and the Funky Monkey.
Located at 2231 E Simmons Bayou Dr in Ocean Springs, the property is within Gulf Park Estates and offers access to two public boat launches. Side-yard space can accommodate an RV. The county setting supports both short-term and long-term rental use, and restaurants and live entertainment are located across the street at The Bayou Bar and Grill and the Funky Monkey.
Key Highlights
- Waterfront duplex in Gulf Park Estates with direct bayou access and a pier
- Two cottages totaling 1,456 square feet with 5 bedrooms and 2 full bathrooms
- Built in 2008 with vinyl plank flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,089
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,780
$201.8K
Cap Rate 7%
$144,129
$144.1K
Cap Rate 9%
$112,100
$112.1K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$15.6K $10.68/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$14.4K $9.90/SF
− OpEx
−$4.3K −$2.97/SF
NOI
$10.1K $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 Rate 5%
$201,780
Cap Rate 7%
$144,129
Cap Rate 9%
$112,100
Alternative Uses
Best Use
Multifamily LT 5
$144.1K
$126.1K – $168.2K
NOI $10,089 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$125.4K
$109.8K – $146.4K
NOI $8,781 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$397.8K
$348.0K – $464.1K
NOI $27,843 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
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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
$220,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Jackson County, MS
Properties on Market for Duplexes in Jackson County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Bayou access, a pier, and flexible rental use distinguish this two-cottage property in Gulf Park Estates.
Where is this duplex located?
The property is located at 2231 E Simmons Bayou Dr Ocean Springs, MS.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Waterfront duplex in Gulf Park Estates with direct bayou access and a pier; Two cottages totaling 1,456 square feet with 5 bedrooms and 2 full bathrooms; Built in 2008 with vinyl plank flooring throughout
