Four-Plex Residential Income
3305 Spruce Street Pascagoula, MS 39581
For Sale
$225,000
Pending
A 4-plex with separate units, allowing one residence and three currently rented units for income.
Property Size3,024 SF
Days on Market57
Property Features for 3305 Spruce Street
General Information
Standard status
Pending
Size
3,024 SF
Property subtype
Multi Family
Building Details
Year Built
1971
Listing Agency:
Coldwell Banker Smith Home Rltrs-Gautier
(228) 327-0388
Listed By:
Mike M Wixon · License #S25663
(228) 327-0388
Source:
Compass
Added: Jun 1
Changed: Jul 10
Last Checked: Jul 27 at 12:39PM
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 Coldwell Banker Smith Home Rltrs-Gautier
Investment Insights
Based on property information with market context.
This income-producing four-plex offers four separate residential units with practical, tenant-friendly layouts. Each unit includes a living room open to a separate dining area, a galley-style kitchen, and bedrooms described as roomy. Units 1 and 4 are located downstairs, while Units 2 and 3 are upstairs, accessed by doorways that close off the stairs from the outside for added privacy.
The property is located in Pascagoula, off Old Mobile Hwy, at 3305 Spruce Street. The configuration provides a clear multi-unit setup within a single building, with the downstairs/upstairs separation helping distinguish the units spatially.
For buyers seeking residential income, the building supports an owner-occupant strategy as well as a fully rented approach, since one unit can be lived in while the other three are currently rented. The unit-by-unit living, dining, and kitchen arrangements are designed to provide self-contained setups suitable for long-term residential tenancy.
The property is located in Pascagoula, off Old Mobile Hwy, at 3305 Spruce Street. The configuration provides a clear multi-unit setup within a single building, with the downstairs/upstairs separation helping distinguish the units spatially.
For buyers seeking residential income, the building supports an owner-occupant strategy as well as a fully rented approach, since one unit can be lived in while the other three are currently rented. The unit-by-unit living, dining, and kitchen arrangements are designed to provide self-contained setups suitable for long-term residential tenancy.
Key Highlights
- Income‑producing 4‑plex in Pascagoula off Old Mobile Hwy, with one unit available to live in and three units currently rented
- 8 total bedrooms across four units; units 1 and 4 are downstairs, and units 2 and 3 are upstairs
- Each unit features a living room open to a separate dining area, plus a galley‑type kitchen
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.9k | $11.88 |
| − Vacancy | −$2.8k | −$0.91 |
| EGI | $33.2k | $10.97 |
| − OpEx | −$14.9k | −$4.93 |
| NOI | $18.2k | $6.03 |
3,024 SF · lease $11.88/SF/yr · vacancy 7.70% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$261.9K – $349.3K
NOI $20,955 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$260.5K
$228.0K – $304.0K
NOI $18,237 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$826.1K
$722.9K – $963.8K
NOI $57,829 @ 7.0% cap · market cap 25.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - A 4-plex with separate units, allowing one residence and three currently rented units for income.
Where is this quadplex located?
The property is located at 3305 Spruce Street Pascagoula, MS.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Income‑producing 4‑plex in Pascagoula off Old Mobile Hwy, with one unit available to live in and three units currently rented; 8 total bedrooms across four units; units 1 and 4 are downstairs, and units 2 and 3 are upstairs; Each unit features a living room open to a separate dining area, plus a galley‑type kitchen
