Renovated Duplex Income
4003 Washington Avenue Gulfport, MS 39507
For Sale
$330,000
Well-maintained duplex with two 3-bedroom, 2-bath units and shared laundry, offering long-term rental flexibility.
Property Size2,643 SF
Price / SF$124.86
Days on Market211
Property Features for 4003 Washington Avenue
General Information
Standard status
Active
Size
2,643 SF
Property subtype
Multi Family
Building Details
Year Built
1964
Listing Agency:
The Real Estate Group
(228) 313-8500
Listed By:
Jonathan DuBose · License #S60619
(228) 313-8500
Source:
Compass
Added: Dec 28, 2025
Changed: Jul 23
Last Checked: Jul 24 at 1:07PM
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 The Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained duplex was converted into a two-unit residence following Hurricane Katrina and has been placed on piers. Each unit features an open-concept kitchen and living area, with 3 bedrooms and 2 bathrooms. A separate shared laundry room includes individual water heaters for each unit, providing dedicated service for both residents. Unit A is currently vacant and was recently renovated, while Unit B is tenant-occupied with a lease through 4/30/2026.
The property is centrally located at 4003 Washington Avenue in Gulfport, MS, and is described as being minutes from the airport, beaches, golf courses, shopping, and the mall.
Historically, both units have operated as long-term rentals, and the listing notes a transferable flood insurance policy of $937 per year.
The property is centrally located at 4003 Washington Avenue in Gulfport, MS, and is described as being minutes from the airport, beaches, golf courses, shopping, and the mall.
Historically, both units have operated as long-term rentals, and the listing notes a transferable flood insurance policy of $937 per year.
Key Highlights
- Well‑maintained 1964 duplex with central A/C and central electric heating; luxury vinyl and tile flooring
- Two units each with 3 bedrooms and 2 bathrooms, featuring open‑concept kitchen and living areas
- Unit A: approx. 1,400 sq ft, currently vacant; Unit B: approx. 1,250 sq ft, tenant‑occupied
Financial Insights For Multifamily LT 5
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 | $25.7k | $9.72 |
| − Vacancy | −$1.9k | −$0.73 |
| EGI | $23.8k | $8.99 |
| − OpEx | −$7.1k | −$2.70 |
| NOI | $16.6k | $6.29 |
2,643 SF · lease $9.72/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$237.6K
$207.9K – $277.2K
NOI $16,634 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$211.1K
$184.8K – $246.3K
NOI $14,780 @ 7.0% cap · market cap 4.48%
Theoretical Best
Healthcare Medical
$425.8K
$372.6K – $496.8K
NOI $29,805 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two 3-bedroom, 2-bath units and shared laundry, offering long-term rental flexibility.
Where is this duplex located?
The property is located at 4003 Washington Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Well‑maintained 1964 duplex with central A/C and central electric heating; luxury vinyl and tile flooring; Two units each with 3 bedrooms and 2 bathrooms, featuring open‑concept kitchen and living areas; Unit A: approx. 1,400 sq ft, currently vacant; Unit B: approx. 1,250 sq ft, tenant‑occupied
