Bayou View is a 211-unit brick garden community in Gulfport. Phase 1 was built in the 1960s and Phase 2 was completed in 1970. All 211 units were fully renovated in 2025. Occupancy is 91%, and in-place NOI of $1,285,804 is underwritten with an 8.9% vacancy and credit loss deduction, so the 7.22% cap rate includes no lease-up credit. New kitchens with stainless appliances and new flooring throughout. The buyer takes on no unit-renovation risk. Scheduled rents average about $748 (1BR) and $856 (2BR) per month. [The MSA average asking rent is $1,179. The closest and most comparable property is renting for $950 for their 2 Bedroom unit. Market vacancy is 2.1% for one-bedrooms and 3.1% for two-bedrooms (RealPage Analytics). Each point of occupancy at Bayou View adds about $24,000 of gross income. Mississippi is a non-disclosure state, so the sale will not trigger reassessment for taxes. Only 144 units are under construction against 26,512 existing units in the MSA. Downtown Gulfport has a $105 million mixed-use redevelopment underway, and the port is adding a $20 million gantry crane.