4-Unit Apartment
For Sale
$235,000
315 N Prentiss St, Jackson, MS 39209
Three residences have tenants in place, while the fourth is not currently tenant-occupied.
Property Size1,000 SF
Price / SF$235
Days on Market14
Property Features for 315 N Prentiss St
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
W Real Estate LLC
Listed By:
Dana Thomas · License #S53382
(601) 506-9156
Source:
Propertiesnorthms
Added: Oct 17
Changed: Oct 30
Last Checked: Oct 30 at 3:49PM
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 W Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 1988, this four-unit apartment property has a consistent layout across its residences: each includes three bedrooms and two full bathrooms. Three units are tenant-occupied, and one is not currently occupied.
The property is at 315 N Prentiss St in Jackson, Mississippi, near Jackson State University.
The property is at 315 N Prentiss St in Jackson, Mississippi, near Jackson State University.
Key Highlights
- Four apartment units, each with 3 bedrooms and 2 full bathrooms
- Three units are tenant‑occupied; one is not currently tenant‑occupied
- Built in 1988
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,590
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$131,800
$131.8K
Cap Rate 7%
$94,143
$94.1K
Cap Rate 9%
$73,222
$73.2K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$10.2K $10.20/SF
− Vacancy
−$785 −$0.79/SF
EGI
$9.4K $9.41/SF
− OpEx
−$2.8K −$2.82/SF
NOI
$6.6K $6.59/SF
Area
Jackson, MS
Vacancy
7.70%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$131,800
Cap Rate 7%
$94,143
Cap Rate 9%
$73,222
Alternative Uses
Best Use
Multifamily LT 5
$94.1K
$82.4K – $109.8K
NOI $6,590 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$87.9K
$76.9K – $102.5K
NOI $6,151 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$171.4K
$149.9K – $199.9K
NOI $11,995 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 39209, MS
25,227
Population
12,438
Households
2
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
62.3 sq mi
ZIP Area
405
Density / Sq Mi
$35,103
Median Household Income
$27,351
Median Earnings
$969
Median Rent
$74,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three residences have tenants in place, while the fourth is not currently tenant-occupied.
Where is this quadplex located?
The property is located at 315 N Prentiss St Jackson, MS.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Four apartment units, each with 3 bedrooms and 2 full bathrooms; Three units are tenant‑occupied; one is not currently tenant‑occupied; Built in 1988
