Updated Quadplex with Shared
New
For Sale
$295,000
806 Maxwell Dr, Hattiesburg, MS 39401
Multi Family, Hattiesburg, MS
Property Size3,000 SF
Price / SF$98.33
Days on Market2
Property Features for 806 Maxwell Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
1
Elementary school district
Forrest County
Middle school district
Forrest County
High school district
Forrest County
Subdivision
Out-Northeast
Standard status
Active
Size
3,000 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
see documents
Tax Annual Amount
1932
Legal Description
see documents
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
shared laundry building
Building Details
Year built
1983
Number of units
4
Flooring type
Vinyl, Tile - Ceramic
Building materials
Brick Veneer, Wood Siding
Listing Agency:
RE/MAX Real Estate Partners · RE/MAX International
(601) 296-2001
Listed By:
Ann McWilliams · License #B-23604
(601) 818-7383
Added: Sep 4
Last Checked: Sep 5 at 12:06AM
MLS# 148642
Copyright © 2026 Hattiesburg Area Association 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.
Investment Insights
Based on property information with market context.
This 3,000-square-foot quadplex contains four apartments, each configured with three bedrooms and one bathroom. All units have been updated, and the property is fully leased. Building improvements include a newer roof and fresh exterior paint, with brick veneer and wood siding forming the exterior. Vinyl and ceramic tile flooring, central air, and electric central heating serve the apartments.
A separate shared laundry building provides four machines and coded access. The property was built in 1983 and is connected to public sewer. Located in Hattiesburg, Mississippi, the asset offers a four-unit residential configuration with on-site shared laundry and recently completed exterior work.
A separate shared laundry building provides four machines and coded access. The property was built in 1983 and is connected to public sewer. Located in Hattiesburg, Mississippi, the asset offers a four-unit residential configuration with on-site shared laundry and recently completed exterior work.
Key Highlights
- Four 3‑bedroom, 1‑bath apartments
- 3,000 square feet across the quadplex
- Fully leased residential 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
$18,881
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
6.40%
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%
$377,620
$377.6K
Cap Rate 7%
$269,729
$269.7K
Cap Rate 9%
$209,789
$209.8K
Market Conditions
NOI Build-Up for 3,000 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
$29.2K $9.72/SF
− Vacancy
−$2.2K −$0.73/SF
EGI
$27.0K $8.99/SF
− OpEx
−$8.1K −$2.70/SF
NOI
$18.9K $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 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%
$377,620
Cap Rate 7%
$269,729
Cap Rate 9%
$209,789
Alternative Uses
Best Use
Multifamily LT 5
$269.7K
$236.0K – $314.7K
NOI $18,881 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$239.7K
$209.7K – $279.6K
NOI $16,777 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$493.7K
$432.0K – $576.0K
NOI $34,560 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 39401, MS
43,183
Population
20,232
Households
2.1
Avg Household Size
32
Median Age
28%
College-Educated
89%
High-School Grad
188.9 sq mi
ZIP Area
229
Density / Sq Mi
$40,287
Median Household Income
$25,697
Median Earnings
$932
Median Rent
$120,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments share a coded-access laundry building and recent exterior improvements.
Where is this quadplex located?
The property is located at 806 Maxwell Dr Hattiesburg, MS.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Four 3‑bedroom, 1‑bath apartments; 3,000 square feet across the quadplex; Fully leased residential property
