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Vaiden Affordable Housing 411 Court St 28 Unit Apartment Building $1,500,000 ($53,571/Unit) 6.24% Cap Rate Vaiden, MS 39176
Executive Summary
Vaiden Affordable Housing is a well-maintained 28-unit Project-Based Section 8 multifamily community located at 411 Court Street in Vaiden, Mississippi. Built in 1981 and situated on ±3.44 acres, the property offers ±21,926 square feet of rentable space and maintains a strong 95% occupancy supported by long-term housing demand in the region.
This stabilized asset benefits from a HUD HAP Contract secured through 2036, providing investors with reliable, government-backed rental income and predictable cash flow. The surrounding area features a blend of retail, medical, and educational amenities, with convenient access to Highway 51 and Highway 35, making it a desirable location for residents seeking affordability and accessibility.
Vaiden Affordable Housing presents a compelling opportunity for both affordable housing investors and LIHTC developers, offering potential pathways for 4% or 9% tax credit repositioning while maintaining the strong fundamentals of a turnkey property in a proven Central Mississippi rental market.
This stabilized asset benefits from a HUD HAP Contract secured through 2036, providing investors with reliable, government-backed rental income and predictable cash flow. The surrounding area features a blend of retail, medical, and educational amenities, with convenient access to Highway 51 and Highway 35, making it a desirable location for residents seeking affordability and accessibility.
Vaiden Affordable Housing presents a compelling opportunity for both affordable housing investors and LIHTC developers, offering potential pathways for 4% or 9% tax credit repositioning while maintaining the strong fundamentals of a turnkey property in a proven Central Mississippi rental market.
Property Facts
| Price | $1,500,000 | Apartment Style | Garden |
| Price Per Unit | $53,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.39 AC |
| Cap Rate | 6.24% | Building Size | 24,606 SF |
| No. Units | 28 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1981 |
| Property Subtype | Apartment | ||
| Zoning | R4 - Multi-Family | ||
| Price | $1,500,000 |
| Price Per Unit | $53,571 |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.39 AC |
| Building Size | 24,606 SF |
| No. Stories | 2 |
| Year Built | 1981 |
| Zoning | R4 - Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Security System
- Refrigerator
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 24 | - | - |
1 1
Property Taxes
| Parcel Number | 123A-23-A-0032000 | Improvements Assessment | $45,371 |
| Land Assessment | $3,750 | Total Assessment | $49,121 |
Property Taxes
Parcel Number
123A-23-A-0032000
Land Assessment
$3,750
Improvements Assessment
$45,371
Total Assessment
$49,121
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Vaiden Affordable Housing | 411 Court St
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