Four-Unit
For Sale
$225,000
3305 Spruce St, Pascagoula, MS 39581
Residential income property with open living and dining areas, galley kitchens, and private upstairs access.
Property Size3,024 SF
Price / SF$74.40
Days on Market51
Property Features for 3305 Spruce St
General Information
Standard status
Active
Size
3,024 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1971
Listing Agency:
Coldwell Banker Smith Home Rltrs-Gautier
Listed By:
Mike M Wixon · License #S25663
(228) 327-0388
Source:
Fiorellaavenue
Added: Sep 6
Changed: Oct 25
Last Checked: Oct 7 at 3:28PM
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
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Investment Insights
Based on property information with market context.
This 3,024-square-foot quadplex, built in 1971, contains four residential units with practical layouts. Each apartment includes a living room connected to a separate dining area, a galley-style kitchen, and generously sized bedrooms. Units 1 and 4 are located on the ground level, while Units 2 and 3 occupy the upper floor.
The property is at 3305 Spruce St in Pascagoula, off Old Mobile Hwy. Three units are currently rented, while the fourth can be occupied by an owner. Exterior-accessed stairways to the upper apartments are enclosed by doors, providing separation from the outside approach.
The property is at 3305 Spruce St in Pascagoula, off Old Mobile Hwy. Three units are currently rented, while the fourth can be occupied by an owner. Exterior-accessed stairways to the upper apartments are enclosed by doors, providing separation from the outside approach.
Key Highlights
- Four‑unit quadplex totaling 3,024 square feet
- Three units currently rented with one unit available for owner occupancy
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,237
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,740
$364.7K
Cap Rate 7%
$260,529
$260.5K
Cap Rate 9%
$202,633
$202.6K
Market Conditions
NOI Build-Up for 3,024 SF
Gross rent
$35.9K $11.88/SF
− Vacancy
−$2.8K −$0.91/SF
EGI
$33.2K $10.97/SF
− OpEx
−$14.9K −$4.93/SF
NOI
$18.2K $6.03/SF
Area
Jackson County, MS
Vacancy
7.70%
Lease Rate
$11.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,740
Cap Rate 7%
$260,529
Cap Rate 9%
$202,633
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
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Business Placement
Demographics for 39581, MS
11,512
Population
5,411
Households
2.1
Avg Household Size
35
Median Age
18%
College-Educated
86%
High-School Grad
14.0 sq mi
ZIP Area
822
Density / Sq Mi
$37,571
Median Household Income
$26,774
Median Earnings
$892
Median Rent
$125,000
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 - Residential income property with open living and dining areas, galley kitchens, and private upstairs access.
Where is this quadplex located?
The property is located at 3305 Spruce St 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: Four‑unit quadplex totaling 3,024 square feet; Three units currently rented with one unit available for owner occupancy; Built in 1971
