Current Use by Public Records
- Apartment buildings
Property Details for 313 Genesis Ct
- Year built
- 1991
- Lot size
- 4.32 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 32-unit apartment complex in Yazoo City, Mississippi. The property, built in 1991 and extensively renovated in 2024, boasts a 100% occupancy rate, generating substantial income. Comprising eight single-story buildings on a 4.32-acre lot, the complex offers a mix of one-, two-, and three-bedroom units totaling 23,850 square feet. Recent upgrades include a new roof and HVAC systems in 85% of the units, along with washer/dryer hookups in select units. The property features 46 parking spaces, providing a 0.70 parking ratio per unit. Conveniently located near Interstate 55 and State Route 3, the complex benefits from proximity to major employers like the Federal Correction Complex – Yazoo City, Texas Eastern Transmission, and Amco Manufacturing, as well as numerous retail options including Walmart, Dollar General, and fast-food restaurants. The strong local rental market, with average rents around $789.84 per month, and the low competition within the area make this a highly attractive investment. The property's current gross operating income is $179,388, with a net operating income of $103,320.39. Pro forma projections indicate a potential gross operating income of $216,720 and a net operating income of $130,405.19 with planned rent increases. This fee-simple ownership offers a stable, cash-flowing asset with significant value-add potential. The Yazoo City population of approximately 11,000, and Yazoo County's population of around 28,000, further supports the property's strong rental demand.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Yazoo City
- County
- Yazoo
- State
- Mississippi
- Longitude
- -90.4137
- Latitude
- 32.8569
