Brick Fourplex with
For Sale
$350,900
Pending
3403 54th Ave, Gulfport, MS 39501
Four residential units feature updated interiors, separate utilities, and additional tenant storage.
Property Size3,073 SF
Days on Market147
Property Features for 3403 54th Ave
General Information
Standard status
Pending
Size
3,073 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,198
Amenities
storage units
Building Details
Construction
brick
Listing Agency:
Premier Living Realty, LLC
(601) 750-3843
Listed By:
Ajuanzie Ross Johnson · License #S-60717
(601) 750-3843
Source:
Exprealty
Added: Mar 19
Changed: Aug 11
Last Checked: Aug 11 at 6:07AM
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 Premier Living Realty, LLC
Investment Insights
Based on property information with market context.
This Gulfport fourplex contains four two-bedroom, one-bath units totaling 3,073 square feet. The solid brick building includes tile flooring throughout, updated kitchens and bathrooms, and four additional storage units for tenant use. Water and electricity are separately metered for each unit. The property is described as average and well maintained, with no major repairs noted.
Located at 3403 54th Ave, the property is near shopping, schools, employment centers, and the Gulf Coast beach area. The location context supports residential rental use, while the property is situated in Flood Zone AE.
Located at 3403 54th Ave, the property is near shopping, schools, employment centers, and the Gulf Coast beach area. The location context supports residential rental use, while the property is situated in Flood Zone AE.
Key Highlights
- Four 2 bedroom, 1 bath units totaling 3, 073 square feet
- Solid brick construction with tile flooring throughout
- Updated kitchens and baths across the property
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
$19,341
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
5.51%
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%
$386,820
$386.8K
Cap Rate 7%
$276,300
$276.3K
Cap Rate 9%
$214,900
$214.9K
Market Conditions
NOI Build-Up for 3,073 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
$29.9K $9.72/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$27.6K $8.99/SF
− OpEx
−$8.3K −$2.70/SF
NOI
$19.3K $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%
$386,820
Cap Rate 7%
$276,300
Cap Rate 9%
$214,900
Alternative Uses
Best Use
Multifamily LT 5
$276.3K
$241.8K – $322.4K
NOI $19,341 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$245.5K
$214.8K – $286.4K
NOI $17,185 @ 7.0% cap · market cap 4.90%
Theoretical Best
Healthcare Medical
$495.1K
$433.2K – $577.6K
NOI $34,654 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
24
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
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 feature updated interiors, separate utilities, and additional tenant storage.
Where is this quadplex located?
The property is located at 3403 54th Ave Gulfport, MS.
What is the asking price?
The asking price for this property is $350,900.
What are key features of this property?
This property features: Four 2 bedroom, 1 bath units totaling 3, 073 square feet; Solid brick construction with tile flooring throughout; Updated kitchens and baths across the property
