Quadplex with Separate Stair
For Sale
$225,000
3305 Spruce Street, Pascagoula, MS 39581
Residential Income, Pascagoula, MS
Property Size3,024 SF
Lot Size0.15 Acres
Price / SF$74.40
Days on Market96
Property Features for 3305 Spruce Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Half bathrooms
8
Rooms
Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 9, Bathroom 7, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 8, Bathroom 5, Bathroom 4, Bedroom 7, Bedroom 2, Bathroom 8, Bathroom 6, Bedroom 4, Bedroom 6, Bathroom 10
Subdivision
Metes And Bounds
Directions
Old Mobile Hwy to Spruce
Standard status
Active
APN
4-02-30-088.000
Size
3,024 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM AT NEC LOT 8 A D KREBS S/D S 135.59' TO POB S 60.8' W 107.36' N 60.8' E 107.36' TO POBPT LOT 8 A D KREBS S/D DB 1930-838 (274 MAP853.07-02) 'MARK V APTS 4 UNITS'
Tax Annual Amount
2297
Legal Description
COM AT NEC LOT 8 A D KREBS S/D S 135.59' TO POB S 60.8' W 107.36' N 60.8' E 107.36' TO POBPT LOT 8 A D KREBS S/D DB 1930-838 (274 MAP853.07-02) 'MARK V APTS 4 UNITS'
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1971
Floors in Building
2
Number of units
4
Flooring type
Laminate
Roof type
Shingle
Listing Agency:
Coldwell Banker Smith Home Rltrs-Gautier · Coldwell Banker Real Estate
(228) 497-1800
Listed By:
Mike M Wixon · License #S25663
(228) 327-0388
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 4 at 3:06AM
MLS# 4151266
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 3,024-square-foot quadplex contains four residential units on a 0.15-acre parcel. Units 1 and 4 are positioned downstairs, while Units 2 and 3 are upstairs. Each residence includes a living room adjoining a separate dining area, a galley-style kitchen, and bedrooms described as roomy. Laminate flooring, a shingle roof, and a 1971 construction date complete the basic property profile.
The upstairs residences are reached through doorways that close off the stairways from outside access. Three units are currently rented, while the fourth can accommodate an owner-occupant arrangement. The property is served by public water and public sewer and is located at 3305 Spruce Street in Pascagoula, Mississippi.
The upstairs residences are reached through doorways that close off the stairways from outside access. Three units are currently rented, while the fourth can accommodate an owner-occupant arrangement. The property is served by public water and public sewer and is located at 3305 Spruce Street in Pascagoula, Mississippi.
Key Highlights
- Four‑unit quadplex with 3,024 square feet of property size
- 0.15‑acre parcel at 3305 Spruce Street, Pascagoula, MS 39581
- Units 1 and 4 are downstairs; Units 2 and 3 are upstairs
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
$18,237
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
8.11%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer a mix of downstairs and upstairs living with public water and sewer service.
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: Four‑unit quadplex with 3,024 square feet of property size; 0.15‑acre parcel at 3305 Spruce Street, Pascagoula, MS 39581; Units 1 and 4 are downstairs; Units 2 and 3 are upstairs
