Building Details

Year built 1970

Floors in Building 1

Number of units 3

Roof type Composition

Listing Agency: Jerry Ford Real Estate Show Phone

Listed By: Angie Griffin Show Phone

Added: Oct 23 Last Checked: Oct 25 at 2:06PM

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MLS# 37980

Copyright © 2026 Laurel Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This mixed-use property contains a duplex with two separate one-bedroom, one-bath units, along with a beauty salon. The building measures 1,584 square feet and was constructed in 1970, with central heating and central air conditioning. A composition roof serves the building, and public water is available.

The 0.31-acre property is located at 403 and 405 E 2nd Avenue in Petal, Mississippi. The two residential units and salon create distinct spaces for residential and commercial use.

Key Highlights

• Two one‑bedroom, one‑bath residential units
• Beauty salon on the property
• 1,584‑square‑foot building on 0.31 acres

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,969

Cap Rate

7.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$199,380 $199.4K

Cap Rate 7%

$142,414 $142.4K

Cap Rate 9%

$110,767 $110.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,584 SF

Gross rent

$15.4K $9.72/SF

− Vacancy

−$1.2K −$0.73/SF

EGI

$14.2K $8.99/SF

− OpEx

−$4.3K −$2.70/SF

NOI

$10.0K $6.29/SF

Area

Forrest 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 Rate 5%

$199,380

Cap Rate 7%

$142,414

Cap Rate 9%

$110,767

Alternative Uses

Best Use

Multifamily LT 5

$142.4K

$124.6K – $166.2K (±1% cap)

NOI $9,969 @ 7.0% cap · market cap 7.17%

Second Best

Apartment 5plus

$126.5K

$110.7K – $147.6K (±1% cap)

NOI $8,858 @ 7.0% cap · market cap 6.37%

Theoretical Best

Office A

$260.7K

$228.1K – $304.1K (±1% cap)

NOI $18,248 @ 7.0% cap · market cap 13.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Plumbing Service Furniture & Home Goods (Bike/Boat/Book/etc) Store Butcher Accounting Firm Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

387

Businesses Nearby

Explore this area Business Placement

Demographics for 39465, MS

23,002

Population

8,854

Households

2.6

Avg Household Size

37

Median Age

25%

College-Educated

91%

High-School Grad

122.7 sq mi

ZIP Area

187

Density / Sq Mi

$73,785

Median Household Income

$40,465

Median Earnings

$921

Median Rent

$166,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two one-bedroom residences share the property with a beauty salon, providing separate residential and commercial spaces.

Where is this mixed-use property located?

The property is located at 403. 405 E 2nd Avenue Petal, MS.

What is the asking price?

The asking price for this property is $139,000.

What are key features of this property?

This property features: Two one‑bedroom, one‑bath residential units; Beauty salon on the property; 1,584‑square‑foot building on 0.31 acres