Brick Duplex with Newer
For Sale
$206,600
2823 6th Ave, Gulfport, MS 39501
Both sides are currently leased, including one side under a month-to-month arrangement.
Property Size2,200 SF
Price / SF$93.91
Days on Market39
Property Features for 2823 6th Ave
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Buildings
1
Construction
brick
Listing Agency:
RE/MAX Choice Properties
(228) 896-3033
Listed By:
Terry C Medley · License #B21384
Source:
Fiorellaavenue
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 30 at 7:53PM
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 Choice Properties
Investment Insights
Based on property information with market context.
This brick duplex was built in 1940 and includes two separately occupied sides. The A-side has been freshly painted, while the B-side is leased on a month-to-month basis. Both sides are currently rented, and the property has a newer roof.
Located at 2823 6th Ave in Gulfport, the property offers an existing residential income configuration with both sides in service. Supra access is available for the A-side.
Located at 2823 6th Ave in Gulfport, the property offers an existing residential income configuration with both sides in service. Supra access is available for the A-side.
Key Highlights
- Brick duplex constructed in 1940
- Both sides currently rented
- A‑side recently painted and accessible through Supra
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
$13,846
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
6.70%
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%
$276,920
$276.9K
Cap Rate 7%
$197,800
$197.8K
Cap Rate 9%
$153,844
$153.8K
Market Conditions
NOI Build-Up for 2,200 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
$21.4K $9.72/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$19.8K $8.99/SF
− OpEx
−$5.9K −$2.70/SF
NOI
$13.8K $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%
$276,920
Cap Rate 7%
$197,800
Cap Rate 9%
$153,844
Alternative Uses
Best Use
Multifamily LT 5
$197.8K
$173.1K – $230.8K
NOI $13,846 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$175.8K
$153.8K – $205.1K
NOI $12,303 @ 7.0% cap · market cap 5.95%
Theoretical Best
Healthcare Medical
$354.4K
$310.1K – $413.5K
NOI $24,809 @ 7.0% cap · market cap 12.01%
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
402
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 - Both sides are currently leased, including one side under a month-to-month arrangement.
Where is this duplex located?
The property is located at 2823 6th Ave Gulfport, MS.
What is the asking price?
The asking price for this property is $206,600.
What are key features of this property?
This property features: Brick duplex constructed in 1940; Both sides currently rented; A‑side recently painted and accessible through Supra
