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$1,417,000
Flowood, MS 39232
MLS# 1248704
Status: Closed
1 / 9
Property Description
This is an investor?s opportunity to own income producing property in an area gaining in value. Adjacent to Flowood?s medical community these 1/1 apartments offer upside potential with minor improvements. These 52 units are divided into 13 4-plexes and the street, Dexter Dr., is a cul de sac so traffic is limited. All units provide refrigerators in addition to washers and dryers. These units produce $525 - $535 per unit monthly and vacancies are consistently low. Appraisal shows Cap Rate of 9.44%. Be sure to see the aerial view to understand the true opportunity this property provides.
Details
Maps
Address and Location Information
Parcel Number: F10I000021
Directions to Property: Flowood Dr. between River Oaks Hospital and Flynt Dr. Dexter on the north side of Flowood Dr.
Street Number: 520
Street Name: Dexter
Street Suffix: Drive
County: Rankin
State: MS
Zip Code: 39232
Subdivision: Metes And Bounds
General Property Information
# of Units Included in Sale: 52
Approx Lot Size Acres: 2.9
Lot Size Dimensions: 230X155X192X194 NE PT
Total Floors: 2
Elementary School: Flowood
Middle or Junior School: Northwest Rankin Middle
High School: Northwest Rankin
Complex Name: PERDUE APARTMENTS
Year Built: 1988
Tax and Financial Information
Tax Annual Amount: 22147
Tax Year: 2011
Legal Description: Parcels F10I000021 and F10I000022 00010
Remarks & Miscellaneous
Public Remarks: This is an investor?s opportunity to own income producing property in an area gaining in value. Adjacent to Flowood?s medical community these 1/1 apartments offer upside potential with minor improvements. These 52 units are divided into 13 4-plexes and the street, Dexter Dr., is a cul de sac so traffic is limited. All units provide refrigerators in addition to washers and dryers. These units produce $525 - $535 per unit monthly and vacancies are consistently low. Appraisal shows Cap Rate of 9.44%. Be sure to see the aerial view to understand the true opportunity this property provides.
Status Change Info
Appraised SqFt: 66092
Contract Date/Pending Date: 2013-03-15
Closing Date: 2013-04-05
Income & Expenses
Gross Operating Income: 336000
Architectural Style
Other: 1
Levels
Two: 1
Sewer
Public Sewer: 1
Water Source
Public: 1
Listing Terms
Cash: 1
Other: 1
Waterfront Features
Waterfront: No
None: 1
Interior Features
High Ceilings: 1
Utilities
Cable Available: 1
Cable Connected: 1
Appliances
Exhaust Fan: 1
Plumbed For Ice Maker: 1
Window Features
Skylight(s): 1
Laundry Features
Electric Dryer Hookup: 1
Security Features
Smoke Detector(s): 1
Cooling
Central Air: 1
Heating
Central: 1
Electric: 1
Foundation Details
Concrete Perimeter: 1
Slab: 1
Exterior Construction/Siding
Wood Siding: 1
Other: 1
Roof
Asphalt Shingle: 1
Exterior Features
Lighting: 1
Fencing
None: 1
Parking Features
On Site: 1
Community Features
None: 1
Basement Features
Basement: No
Flood Insurance
Unknown: 1
Lot Size Range
1 to 5 Acres: 1
Listing Information
Status: Closed
List Date: 2013-01-11
List Price: $1,700,000
Current Price: $1,417,000
Property Features
Architectural Style: Other
Levels: Two
Interior Features: High Ceilings
Appliances: Exhaust Fan; Plumbed For Ice Maker
Window Features: Skylight(s)
Laundry Features: Electric Dryer Hookup
Security Features: Smoke Detector(s)
Cooling: Central Air
Heating: Central; Electric
Utilities: Cable Available; Cable Connected
Sewer: Public Sewer
Water Source: Public
Foundation Details: Concrete Perimeter; Slab
Listing Terms: Cash; Other
Roof: Asphalt Shingle
Exterior Features: Lighting
Fencing: None
Parking Features: On Site
Community Features: None
Waterfront Features: None
Flood Insurance: Unknown
Lot Size Range: 1 to 5 Acres
Listing Office: Century 21 Prestige
Listing Agent: Bret Baxter
Last Updated: April - 15 - 2025
Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.
$1,417,000
Flowood, MS 39232
MLS# 1248704
Status: Closed
1 / 9
Property Description
This is an investor?s opportunity to own income producing property in an area gaining in value. Adjacent to Flowood?s medical community these 1/1 apartments offer upside potential with minor improvements. These 52 units are divided into 13 4-plexes and the street, Dexter Dr., is a cul de sac so traffic is limited. All units provide refrigerators in addition to washers and dryers. These units produce $525 - $535 per unit monthly and vacancies are consistently low. Appraisal shows Cap Rate of 9.44%. Be sure to see the aerial view to understand the true opportunity this property provides.
Details
Maps
Address and Location Information
Parcel Number: F10I000021
Directions to Property: Flowood Dr. between River Oaks Hospital and Flynt Dr. Dexter on the north side of Flowood Dr.
Street Number: 520
Street Name: Dexter
Street Suffix: Drive
County: Rankin
State: MS
Zip Code: 39232
Subdivision: Metes And Bounds
General Property Information
# of Units Included in Sale: 52
Approx Lot Size Acres: 2.9
Lot Size Dimensions: 230X155X192X194 NE PT
Total Floors: 2
Elementary School: Flowood
Middle or Junior School: Northwest Rankin Middle
High School: Northwest Rankin
Complex Name: PERDUE APARTMENTS
Year Built: 1988
Tax and Financial Information
Tax Annual Amount: 22147
Tax Year: 2011
Legal Description: Parcels F10I000021 and F10I000022 00010
Remarks & Miscellaneous
Public Remarks: This is an investor?s opportunity to own income producing property in an area gaining in value. Adjacent to Flowood?s medical community these 1/1 apartments offer upside potential with minor improvements. These 52 units are divided into 13 4-plexes and the street, Dexter Dr., is a cul de sac so traffic is limited. All units provide refrigerators in addition to washers and dryers. These units produce $525 - $535 per unit monthly and vacancies are consistently low. Appraisal shows Cap Rate of 9.44%. Be sure to see the aerial view to understand the true opportunity this property provides.
Status Change Info
Appraised SqFt: 66092
Contract Date/Pending Date: 2013-03-15
Closing Date: 2013-04-05
Income & Expenses
Gross Operating Income: 336000
Architectural Style
Other: 1
Levels
Two: 1
Sewer
Public Sewer: 1
Water Source
Public: 1
Listing Terms
Cash: 1
Other: 1
Waterfront Features
Waterfront: No
None: 1
Interior Features
High Ceilings: 1
Utilities
Cable Available: 1
Cable Connected: 1
Appliances
Exhaust Fan: 1
Plumbed For Ice Maker: 1
Window Features
Skylight(s): 1
Laundry Features
Electric Dryer Hookup: 1
Security Features
Smoke Detector(s): 1
Cooling
Central Air: 1
Heating
Central: 1
Electric: 1
Foundation Details
Concrete Perimeter: 1
Slab: 1
Exterior Construction/Siding
Wood Siding: 1
Other: 1
Roof
Asphalt Shingle: 1
Exterior Features
Lighting: 1
Fencing
None: 1
Parking Features
On Site: 1
Community Features
None: 1
Basement Features
Basement: No
Flood Insurance
Unknown: 1
Lot Size Range
1 to 5 Acres: 1
Listing Information
Status: Closed
List Date: 2013-01-11
List Price: $1,700,000
Current Price: $1,417,000
Property Features
Architectural Style: Other
Levels: Two
Interior Features: High Ceilings
Appliances: Exhaust Fan; Plumbed For Ice Maker
Window Features: Skylight(s)
Laundry Features: Electric Dryer Hookup
Security Features: Smoke Detector(s)
Cooling: Central Air
Heating: Central; Electric
Utilities: Cable Available; Cable Connected
Sewer: Public Sewer
Water Source: Public
Foundation Details: Concrete Perimeter; Slab
Listing Terms: Cash; Other
Roof: Asphalt Shingle
Exterior Features: Lighting
Fencing: None
Parking Features: On Site
Community Features: None
Waterfront Features: None
Flood Insurance: Unknown
Lot Size Range: 1 to 5 Acres
Listing Office: Century 21 Prestige
Listing Agent: Bret Baxter
Last Updated: April - 15 - 2025
Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.