Brick Apartment Complex with Mobile
801 Goodwater Road Northwest Magee, MS 39111
801 Goodwater Road Northwest, Magee, MS, 39111
$334,900
Pending
For Sale
$334,900
Pending
Apartment complex includes four one-bedroom units, one two-bedroom unit, and a single-wide mobile home.
Property Size4,170 SF
Days on Market31
Property Features for 801 Goodwater Road Northwest
General Information
- Standard status
- Pending
- Size
- 4,170 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1970
Listing agency
E Speed Realty
(601) 273-2180
Listed by
Kimberly D Walker · License #S49526
(601) 273-2180
Source
Compass
Added: Jun 21 Updated: Jul 21 at 2:08AM Checked: Jul 21 at 6:34AM
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 E Speed Realty
Investment Insights
Based on property information with market context.
This income-producing multifamily property includes a well-maintained apartment complex with low-maintenance brick construction and a durable metal roof. The configuration offers four one-bedroom units and one two-bedroom unit, along with an additional single-wide mobile home to diversify rental income.
The property sits on a spacious lot with mature shade trees and ample parking. It is located near local schools, shopping, and employment centers. Gross rental income is currently approximately $3,900 per month (about $46,800 annually).
The apartments and mobile home provide separate, rentable living space, and the listing notes that shown by appointment only with tenant rights applying.
The property sits on a spacious lot with mature shade trees and ample parking. It is located near local schools, shopping, and employment centers. Gross rental income is currently approximately $3,900 per month (about $46,800 annually).
The apartments and mobile home provide separate, rentable living space, and the listing notes that shown by appointment only with tenant rights applying.
Key Highlights
- Apartment complex with four 1‑bedroom units and one 2‑bedroom unit, plus an additional single‑wide mobile home
- Gross rental income of approximately $3,900 per month ($46,800 annually)
- One‑story brick construction with a metal roof
Local Financial Insights For Apartment 5plus
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 | $50.0k | $12.00 |
| − Vacancy | −$3.4k | −$0.82 |
| EGI | $46.6k | $11.18 |
| − OpEx | −$21.0k | −$5.03 |
| NOI | $25.7k | $6.15 |
4,170 SF · lease $12.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$366.4K
$320.6K – $427.5K
NOI $25,651 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$714.6K
$625.3K – $833.7K
NOI $50,020 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Apartment complex includes four one-bedroom units, one two-bedroom unit, and a single-wide mobile home.
Where is this apartment building located?
The property is located at 801 Goodwater Road Northwest Magee, MS.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: Apartment complex with four 1‑bedroom units and one 2‑bedroom unit, plus an additional single‑wide mobile home; Gross rental income of approximately $3,900 per month ($46,800 annually); One‑story brick construction with a metal roof
