Three-Bedroom Duplex with Rental
For Sale
$178,200
903 Parkview Place lot A & B, Gulfport, MS 39507
Residential Income, Gulfport, MS
Property Size2,142 SF
Lot Size0.19 Acres
Price / SF$83.19
Days on Market335
Property Features for 903 Parkview Place lot A & B
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 2
Appliances
Range
Subdivision
Parkview Place
Directions
Switzer to Park View Place
Standard status
Active
APN
1010g-01-015.005
Size
2,142 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 5 SWITZER PLACE SUBD
Tax Annual Amount
2660
Legal Description
LOT 5 SWITZER PLACE SUBD
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
RE/MAX Choice Properties · RE/MAX International
(228) 896-3033
Listed By:
Terry C Medley · License #B21384
(228) 229-6954
Added: Oct 27, 2025
Changed: Sep 21
Last Checked: Sep 26 at 11:06AM
MLS# 4129833
Copyright © 2026 MLS United. 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 2,142-square-foot duplex includes two matching residential units, each arranged with three bedrooms and two bathrooms. One unit is occupied under a month-to-month lease, while the other is vacant and requires TLC. The property is offered in as-is condition.
Built in 2006, the property sits on a 0.19-acre lot in Gulfport. Improvements include a shingle roof, public water, public sewer, and a range. The configuration provides separate living spaces within one residential income property, with existing occupancy on one side and renovation needs on the other.
Built in 2006, the property sits on a 0.19-acre lot in Gulfport. Improvements include a shingle roof, public water, public sewer, and a range. The configuration provides separate living spaces within one residential income property, with existing occupancy on one side and renovation needs on the other.
Key Highlights
- 2,142 square feet across a two‑unit duplex
- Each side includes 3 bedrooms and 2 bathrooms
- One unit occupied on a month‑to‑month lease
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
$13,481
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
7.57%
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%
$269,620
$269.6K
Cap Rate 7%
$192,586
$192.6K
Cap Rate 9%
$149,789
$149.8K
Market Conditions
NOI Build-Up for 2,142 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
$20.8K $9.72/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$19.3K $8.99/SF
− OpEx
−$5.8K −$2.70/SF
NOI
$13.5K $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%
$269,620
Cap Rate 7%
$192,586
Cap Rate 9%
$149,789
Alternative Uses
Best Use
Multifamily LT 5
$192.6K
$168.5K – $224.7K
NOI $13,481 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.7K
NOI $11,979 @ 7.0% cap · market cap 6.72%
Theoretical Best
Healthcare Medical
$345.1K
$301.9K – $402.6K
NOI $24,155 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit layout includes one occupied side and one vacant side requiring repairs.
Where is this duplex located?
The property is located at 903 Parkview Place lot A & B Gulfport, MS.
What is the asking price?
The asking price for this property is $178,200.
What are key features of this property?
This property features: 2,142 square feet across a two‑unit duplex; Each side includes 3 bedrooms and 2 bathrooms; One unit occupied on a month‑to‑month lease
