2634 Palmer Dr · Gulfport, MS 39507

$239,999

4 bd · 1.0 ba · 1,556 sqft · SingleFamily public records · 5 Days on market

Built 1988 3,920 sqft lot $154/sqft · 20% above area Est $211k · 14% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.6/30.0
• DSCR +5.2/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautiful 4 bedroom, 2.5 bath home located in the highly desirable Broadwater Place Subdivision. Offering a functional layout, tasteful updates, and an unbeatable location, this home is just minutes from shopping, entertainment, dining, and the Mississippi Gulf Coast's beautiful white sandy beaches. Best of all, the property is NOT in a flood zone. Inside the home you will find a cozy living room featuring a wood-burning fireplace, perfect for relaxing evenings or gathering with family and friends. The updated kitchen offers granite countertops, newer appliances, ample cabinet and counter space, and opens nicely to the dedicated dining area located between the kitchen a

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1988

Property features AI

Finance

• HOA & community: Near entertainment

Exterior

• Parking: 2-car garage with front-facing garage; Concrete driveway
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single-family house; Two levels; Move-in ready
• Construction: Vinyl and brick exterior; Architectural shingle roof; Slab foundation; Built (year per public records)
• Exterior features: Front porch; Rain gutters; Back yard fencing

Interior

• Kitchen: Dishwasher; Free-standing electric oven; Free-standing refrigerator; Microwave; Granite countertops
• Bedrooms: Primary bedroom located downstairs
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom (2.5 total bathrooms)
• Heating & cooling: Electric heating; Electric cooling (central)
• Interior features: Ceiling fans; Granite counters; High ceilings; Primary suite on main floor; Wood-burning fireplace
• Laundry & utility: Electric utilities connected

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (14.3% below list).
• Recommended offer: $206k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.9% in Gulfport — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#15 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Gulfport School District (urban): math 41% / reading 42% proficiency, ranked #37 of 130 in MS (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Anniston Avenue Elementary School (math 52% / reading 53%, grade C-, #53 of 375 statewide, top 14%, 535 students, 100% FRL); Bayou View Middle School (math 54% / reading 49%, grade C, #27 of 179 statewide, top 16%, 826 students, 100% FRL); Gulfport High School (math 42% / reading 36%, grade F, #54 of 197 statewide, top 28%, 1,728 students, 100% FRL) — zoned schools average 100% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 301 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• At $2,057/mo this rent would consume 45% of the median local household income ($55k/yr) (locally 1059% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Harrison County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,682 (14.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (median comp): $210,889
• List price: $239,999
• Delta: 13.80%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2623 Demaret Dr	0.16mi	4/1.5	1,576 (+1%)	1mo	$179,000	$114	87
2634 Palmer Dr	0.00mi	4/2.5	1,640 (+5%)	0mo	$239,999	$146	85
2694 Broadwater Dr	0.05mi	3/2.0 (-1)	1,500 (-4%)	6mo	$219,000	$146	78
2610 Demaret Dr	0.11mi	4/1.5	1,700 (+9%)	7mo	$169,000	$99	72
2444 Cotton Dr	0.29mi	3/2.0 (-1)	1,627 (+5%)	2mo	$229,000	$141	69
2500 Demaret Dr	0.25mi	3/2.0 (-1)	1,637 (+5%)	3mo	$210,000	$128	68
2419 Demaret Dr	0.28mi	3/2.0 (-1)	1,650 (+6%)	3mo	$197,500	$120	66
2625 Palmer Dr	0.04mi	3/2.0 (-1)	1,762 (+13%)	3mo	$234,000	$133	64
621 Sarazen Dr	0.54mi	3/2.0 (-1)	1,550 (-0%)	2mo	$263,500	$170	64
124 Debuys Rd	0.64mi	3/2.5 (-1)	1,521 (-2%)	1mo	$274,900	$181	55
132 Debuys Rd	0.62mi	3/2.5 (-1)	1,521 (-2%)	2mo	$259,640	$171	55
130 Debuys Rd	0.62mi	3/2.5 (-1)	1,521 (-2%)	5mo	$274,900	$181	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.26% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-26,995
• Equity at exit: $35,785

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-696
• Equity at exit: $20,751

Cash invested: $67,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Mississippi: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; very landlord-favorable; no rent control.

Methodology + full state rankings →

ZIP-level market 39507

• Home prices YoY: -27.1%
• Rents YoY: 4.3%
• Active inventory: 301
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,057 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$120 /mo · $1,437/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $147

Break-even live

Break-even rent $1,871

Max offer price $239,999

Occupancy floor 88%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2610 Demaret Dr Gulfport, MS	4.0	1.5	1700	$1,995	$1.17	44d	1	0.15mi
2420 Demaret Dr Gulfport, MS	4.0	2.0	1600	$1,800	$1.12	44d	1	0.31mi
2252 Beach Dr Gulfport, MS	3.0	2.0	1691	$2,800	$1.66	44d	1	0.41mi
2230 Beach Dr Gulfport, MS	3.0	3.0	1852	$3,195	$1.73	44d	1	0.54mi
2255 Switzer Rd Gulfport, MS	1.0–3.0	1.0–2.0	1072	$1,500	$1.40	14d	12	0.64mi
894 Jefferson Dr Gulfport, MS	3.0	2.5	1541	$1,675	$1.09	44d	1	0.74mi
924 Jefferson Dr Gulfport, MS	3.0	2.5	1613	$1,675	$1.04	44d	1	0.74mi
910 Jefferson Dr Gulfport, MS	3.0	2.5	1613	$1,675	$1.04	44d	1	0.74mi
2795 Eula Rd Biloxi, MS	3.0	2.5	1550	$1,800	$1.16	14d	1	0.77mi
2668 Beach Blvd Biloxi, MS	3.0	3.0	1813	$2,900	$1.60	14d	1	0.85mi
1339 Foxwood Pl Gulfport, MS	3.0	2.0	1100	$1,375	$1.25	44d	1	0.94mi
1525 E Pass Rd Gulfport, MS	1.0–3.0	1.0–2.0	1070	$1,519	$1.42	21d	1	0.99mi
2589 Santa Rosa Cv Biloxi, MS	3.0	2.0	1787	$2,500	$1.40	44d	1	1.06mi
2589 Santa Rosa Cv Biloxi, MS	3.0	2.0	1787	$2,500	$1.40	21d	1	1.06mi
2620 Lejuene Dr Biloxi, MS	1.0–3.0	1.0–2.0	914	$1,575	$1.72	14d	9	1.08mi
151 Grande View Dr Biloxi, MS	1.0–3.0	1.0–2.0	1268	$1,889	$1.49	14d	23	1.37mi
1276 Century Oaks Dr Gulfport, MS	3.0	3.0	1283	$2,100	$1.64	44d	1	1.48mi
1114 Washington Ave Gulfport, MS	3.0	2.0	1200	$1,350	$1.12	21d	1	1.49mi
1270 Century Oaks Dr Gulfport, MS	3.0	3.0	1158	$1,950	$1.68	44d	1	1.50mi

Listing history 3 events

1. 2026-05-05
   status Pending 1425-char remark
2. 2026-04-29
   listed $239,999 Active 1425-char remark
3. 2011-03-31
   soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MS · Resets to sale price

• Current annual tax: $1,437 · $120/mo
• Projected year-2 tax: $1,896 · $158/mo
• Expected delta: +$459/yr (+$38/mo · 31.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,682
• − Mortgage interest: −$13,444
• − Property taxes: −$1,437
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,975
• − Management: −$1,975
• − Depreciation: −$6,982
• Taxable loss: −$2,330
• Est. tax savings @ 24.0%: +$559
• After-tax cash flow: $2,318/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Gulfport School District
• NCES district ID: 2801710
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $35,712
• Composite: 34.38/100
• National rank: #5213
• State rank: #37 of 130 in MS

Livability — Gulfport

• Score: 73/100
• State rank: #15
• US rank: #5010

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulfport, MS
• County: Harrison County · 178,171 people
• City population: 96,188
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 18,564
• Household income: $54,657
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 1059.0

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 228,444 people
• By 2030: 241,942 · +5.9%
• By 2040: 267,531 · +17.1%
• By 2050: 291,062 · +27.4%
• By 2075: 346,711 · +51.8%
• By 2100: 378,165 · +65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 24% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Slovak 4% Lithuanian 4% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Harrison

• 2024 margin: Strong R (+28.9) · D 35.0% · R 63.9% · Other 1.1%
• 2008→2024 swing: -2.9pp toward R · 2008: -26.0pp · 2024: -28.9pp
• All cycles: 2024: R+28.9 2020: R+25.2 2016: R+30.7 2012: R+26.6 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.48%
• Current HPI: 181.6606
• Rent YoY: ▲ 4.26%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

4 events — show timeline

• 2026-06-12 Sold (MLS) — MLSU
• 2026-05-05 Pending — MLSU
• 2026-04-29 Listed $239,999 MLSU
• 2011-03-31 Sold (Public Records) — Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,437 · +6.0% YoY. Source: county tax records.