Brick Duplex with Updated
For Sale
$206,600
2823 6th Avenue, Gulfport, MS 39501
Residential Income, Gulfport, MS
Property Size2,200 SF
Lot Size0.16 Acres
Price / SF$93.91
Days on Market320
Property Features for 2823 6th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 2
Subdivision
Myrtle
Lot features
City Lot, Front Yard, City Lot, Front Yard
Directions
Pass Rd to 6th Ave turn south.
Standard status
Active
APN
0910m-03-051.000
Size
2,200 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 5 TO 6 BLK 22 MYRTLE RESURVEY
Tax Annual Amount
1447
Legal Description
LOTS 5 TO 6 BLK 22 MYRTLE RESURVEY
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Flooring type
Carpet, Linoleum
Roof type
Shingle
Listing Agency:
RE/MAX Choice Properties · RE/MAX International
(228) 896-3033
Listed By:
Terry C Medley · License #B21384
(228) 229-6954
Added: Nov 10, 2025
Changed: Sep 21
Last Checked: Sep 26 at 11:06AM
MLS# 4131172
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.
This brick duplex at 2823 6th Avenue in Gulfport contains 2,200 square feet with six bedrooms and four bathrooms across the two-unit configuration. The property was built in 1940 and includes carpet and linoleum flooring, shingle roofing, public water, and public sewer.
Both units are occupied. One side has been freshly painted, while the other is leased month to month. The roof has been updated, and the property sits on a 0.16-acre lot in Gulfport, Mississippi.
The duplex is identified as a residential income property and offers an established two-unit layout with existing tenancy in place.
Both units are occupied. One side has been freshly painted, while the other is leased month to month. The roof has been updated, and the property sits on a 0.16-acre lot in Gulfport, Mississippi.
The duplex is identified as a residential income property and offers an established two-unit layout with existing tenancy in place.
Key Highlights
- 2,200‑square‑foot brick duplex with six bedrooms and four bathrooms
- Both units currently rented
- One unit leased month to month
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - 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 Avenue 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: 2,200‑square‑foot brick duplex with six bedrooms and four bathrooms; Both units currently rented; One unit leased month to month
