Building Details

Year Built 1940

Listed By: Terry Show Phone

Added: Nov 10, 2025 Changed: Sep 10

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,846

Cap Rate

6.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$276,920 $276.9K

Cap Rate 7%

$197,800 $197.8K

Cap Rate 9%

$153,844 $153.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,200 SF

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 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 (±1% cap)

NOI $13,846 @ 7.0% cap · market cap 6.70%

Second Best

Apartment 5plus

$175.8K

$153.8K – $205.1K (±1% cap)

NOI $12,303 @ 7.0% cap · market cap 5.95%

Theoretical Best

Healthcare Medical

$354.4K

$310.1K – $413.5K (±1% cap)

NOI $24,809 @ 7.0% cap · market cap 12.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Fully leased duplex with public utilities, separate residential units, and recent interior paint in one side.

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.