405 Woodward Dr · Ocean Springs, MS 39564

$209,900

3 bd · 2.0 ba · 1,146 sqft · SingleFamily public records · 4 Days on market

Built 1998 7,840 sqft lot Est $188k · 12% 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 +12.0/30.0
• Schools +5.3/10.0
• Livability +4.3/5.0
• DSCR +3.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming and well-maintained 3-bedroom, 2-bath residence in Ocean Springs. Conveniently located in East Ocean Springs, this property offers easy access to Ocean Springs Hospital, shopping, dining, Gulf Islands National Seashore, Interstate 10, and Highway 90, while remaining tucked away from the congestion of downtown traffic. Inside, you'll find a comfortable and inviting floor plan featuring a cozy fireplace, spacious living areas, abundant natural light, and no carpet throughout, offering easy maintenance and a clean, modern feel. Step outside to a fully fenced backyard designed for relaxation and entertaining, complete with a brand-new covered deck—perfect for

Key facts

• Covered deck
• Driveway parking
• Large storage shed

Tags

• FULLY FENCED BACKYARD
• COVERED DECK
• LARGE STORAGE SHED
• DRIVEWAY PARKING

Property features AI

Finance

• HOA & community: Curbs; Near entertainment

Exterior

• Parking: Garage (1 car); Total parking for 4 vehicles; Driveway with concrete surface
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence (house); One story; Move-in ready
• Construction: Brick veneer and siding construction; Slab foundation; Built in 1,146 sq. ft. (per assessor)
• Exterior features: Front porch; Back yard fence; Other exterior features (see remarks); Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Free-standing electric range; Refrigerator
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and wood-capable); Central air (electric)
• Interior features: Cathedral ceilings; Ceiling fan(s); Breakfast bar; Window treatments; Living room fireplace
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-52 ($-618/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (22.1% below list).
• Recommended offer: $164k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.2% in Ocean Springs — 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 86/100 on livability (#2 in MS, #420 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: commute F.
• Ocean Springs School District (suburban): math 64% / reading 59% proficiency, ranked #1 of 130 in MS (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pecan Park Elementary School (math 62% / reading 57%, grade B-, #27 of 375 statewide, top 8%, 530 students, 99% FRL); Ocean Springs Upper Elementary Scho (math 59% / reading 56%, grade B, #12 of 179 statewide, top 6%, 1,332 students, 100% FRL); Ocean Springs High School (math 77% / reading 64%, grade B+, #1 of 197 statewide, top 0%, 1,899 students, 100% FRL) — zoned schools average 100% FRL vs 33% district-wide (67 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 723 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,580 (22.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $187,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4110 Groveland Rd	0.26mi	3/2.0	1,141 (-0%)	9mo	$189,500	$166	79
414 Woodward Dr	0.07mi	3/2.0	1,212 (+6%)	11mo	$217,000	$179	78
207 April Ln	0.06mi	3/2.0	1,275 (+11%)	7mo	$239,000	$187	73
120 Yellowstone Cir	0.24mi	3/1.5	1,200 (+5%)	8mo	$199,800	$167	73
1308 Parktown Dr	0.35mi	3/1.5	1,064 (-7%)	4mo	$175,000	$164	66
8708 Old Ccc Camp Rd	0.60mi	3/2.0	1,089 (-5%)	2mo	$92,000	$84	62
103 Grand Teton Dr	0.39mi	4/1.2 (+1)	1,235 (+8%)	1mo	$199,900	$162	60
108 Vicksburg Pl	0.50mi	3/1.5	1,042 (-9%)	1mo	$209,700	$201	59
1317 Chalmette Ave	0.28mi	3/2.0	1,300 (+13%)	9mo	$180,000	$138	57
103 Niagara Ave	0.44mi	3/1.0	1,075 (-6%)	10mo	$139,900	$130	57
4213 Yosemite Dr	0.44mi	3/1.5	1,247 (+9%)	8mo	$175,000	$140	56
8813 Stonewall St	0.73mi	3/2.0	1,300 (+13%)	11mo	$179,990	$138	34

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.32×
• Total profit: $-40,070
• Equity at exit: $31,297

10-year hold

• IRR: -16.5%
• Equity multiple: 0.15×
• Total profit: $-50,133
• Equity at exit: $18,148

Cash invested: $58,772 (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 39564

• Home prices YoY: -26.8%
• Rents YoY: 1.3%
• Active inventory: 723
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,636 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-52

Break-even live

Break-even rent $1,701

Max offer price $200,801

Occupancy floor 98%

Sensitivity live

Price	-10% $67	-5% $8	+0% $-52	+5% $-111	+10% $-170
Rent	-10% $-181	-5% $-116	+0% $-52	+5% $13	+10% $78
Rate	-1.0pp $54	-0.5pp $2	base $-52	+0.5pp $-106	+1.0pp $-161

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3910 Yosemite Dr Ocean Springs, MS	3.0	2.0	1070	$1,595	$1.49	45d	1	0.13mi
1200 Deana Rd Ocean Springs, MS	2.0	2.0	1063	$1,337	$1.26	45d	1	0.13mi
1200 Deana Rd Ocean Springs, MS	2.0	2.0	1063	$1,405	$1.32	15d	1	0.13mi
1200 Deana Rd Ocean Springs, MS	2.0	2.0	1063	$1,296	$1.22	22d	1	0.13mi
3500 Groveland Rd Ocean Springs, MS	2.0–3.0	2.0	1173	$1,750	$1.49	15d	1	0.78mi
4730 Gibson Rd Ocean Springs, MS	2.0	1.0	1010	$1,205	$1.19	22d	1	1.08mi
8701 Old Spanish Trl Ocean Springs, MS	2.0	2.0	900	$1,200	$1.33	15d	3	1.44mi
8701 Old Spanish Trl Unit 107 Ocean Springs, MS	2.0	2.0	900	$1,200	$1.33	22d	1	1.44mi

Listing history 5 events

1. 2026-06-07
   statusdays on market $209,900 Pending 4 DOM
2. 2026-06-02
   days on market $209,900 Active 3 DOM
3. 2026-06-01
   days on market $209,900 Active 2 DOM
4. 2026-05-31
   remarks 693-char remark
5. 2026-05-31
   listed $209,900 Active 1 DOM

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $1,867 · $156/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,630
• − Mortgage interest: −$11,758
• − Property taxes: −$1,867
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$6,106
• Taxable loss: −$4,292
• Est. tax savings @ 24.0%: +$1,030
• After-tax cash flow: $412/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: Ocean Springs School District
• NCES district ID: 2803360
• Math proficiency: 64% ▼ -3.00%
• Reading proficiency: 59% ▲ 1.00%
• Median HH income: $60,485
• Composite: 53.35/100
• National rank: #1477
• State rank: #1 of 130 in MS

Livability — Ocean Springs

• Score: 86/100
• State rank: #2
• US rank: #420

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Springs, MS
• County: Jackson County · 82,196 people
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 43,240
• Household income: $78,596
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 734.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 146,926 people
• By 2030: 148,442 · +1.0%
• By 2040: 149,631 · +1.8%
• By 2050: 148,723 · +1.2%
• By 2075: 147,845 · +0.6%
• By 2100: 144,510 · -1.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 5% Slovak 4% Romanian 2%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 93% English-only · Spanish 3% Vietnamese 2% Tagalog/Filipino 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+39.9) · D 29.5% · R 69.4% · Other 1.1%
• 2008→2024 swing: -6.4pp toward R · 2008: -33.5pp · 2024: -39.9pp
• All cycles: 2024: R+39.9 2020: R+34.6 2016: R+39.9 2012: R+36.1 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.77%
• Current HPI: 204.2244
• Rent YoY: ▲ 1.31%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-30 Listed $209,900 MLSU

Property tax history

+11.1%/yr

Latest (2025): $1,867 · +5.7% YoY. Source: county tax records.