2009 North St · Gulfport, MS 39507

$85,500

4 bd · 1.0 ba · 1,149 sqft · SingleFamily public records · 247 Days on market

Built 1960 6,098 sqft lot $74/sqft · 48% below area Est $166k · 48% under ↓ 10% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 4bdrm, 1bth brick home. No flood zone. Needs TLC. Buyer must turn on utilities for inspections.

Key facts

• Brick home
• No flood zone
• 6,098 sq ft lot

Tags

• BRICK HOME
• NO FLOOD ZONE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $906 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $86k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% 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: schools D, amenities F, commute 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.
• Market conditions: Rents rising fast (+4.3%/yr); 301 active listings in the ZIP; 12 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).
• This rent runs 41% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $591 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 19.01%
• Cash-on-cash: 45.42%
• DSCR: 3.02
• GRM: 3.8

CMA / ARV

• ARV (median comp): $165,968
• List price: $85,500
• Delta: -48.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2005 North St	0.02mi	4/2.0	1,220 (+6%)	8mo	$165,900	$136	78
2101 South St	0.12mi	3/2.0 (-1)	1,189 (+4%)	5mo	$165,000	$139	75
492 Weaver Ave	0.32mi	3/2.0 (-1)	1,285 (+12%)	4mo	$199,000	$155	53
760 Hunters Glen Ln	0.50mi	3/1.5 (-1)	1,000 (-13%)	0mo	$183,990	$184	48
696 Hunters Glen Ln	0.50mi	3/1.5 (-1)	1,000 (-13%)	2mo	$179,600	$180	47
768 Hunters Glen Ln	0.50mi	3/1.5 (-1)	1,000 (-13%)	2mo	$183,990	$184	46
294 Meadows Ln	0.47mi	3/1.5 (-1)	1,000 (-13%)	4mo	$177,600	$178	46
704 Hunters Glen Ln	0.50mi	3/1.5 (-1)	1,000 (-13%)	3mo	$178,600	$179	46
282 Meadows Ln	0.48mi	3/1.5 (-1)	1,000 (-13%)	6mo	$176,600	$177	44
986 Waterford Ln	0.52mi	3/1.5 (-1)	1,000 (-13%)	5mo	$176,600	$177	43
1002 Waterford Ln	0.51mi	3/1.5 (-1)	1,000 (-13%)	7mo	$162,640	$163	42
968 Waterford Ln	0.53mi	3/1.5 (-1)	1,000 (-13%)	6mo	$176,600	$177	42

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: 44.0%
• Equity multiple: 2.93×
• Total profit: $46,298
• Equity at exit: $12,748

10-year hold

• IRR: 50.5%
• Equity multiple: 6.22×
• Total profit: $124,907
• Equity at exit: $7,392

Cash invested: $23,940 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$448
• Tax from tax record: −$99 /mo · $1,186/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $906

Break-even live

Break-even rent $738

Max offer price $85,500

Occupancy floor 47%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1525 E Pass Rd Gulfport, MS	1.0–3.0	1.0–2.0	1070	$1,519	$1.42	21d	1	0.47mi
1276 Century Oaks Dr Gulfport, MS	3.0	3.0	1283	$2,100	$1.64	43d	1	0.48mi
1270 Century Oaks Dr Gulfport, MS	3.0	3.0	1158	$1,950	$1.68	43d	1	0.48mi
696 Hunters Glen Ln Gulfport, MS	3.0	1.5	1000	$1,800	$1.80	21d	1	0.49mi
1229 Century Oaks Dr Gulfport, MS	3.0	3.0	1200	$2,600	$2.17	21d	1	0.50mi
986 Waterford Ln Gulfport, MS	3.0	1.5	1000	$1,650	$1.65	43d	1	0.51mi
1131 Century Oaks Dr Gulfport, MS	3.0	3.0	1156	$1,800	$1.56	43d	1	0.54mi
1100 Century Oaks Dr Unit A Gulfport, MS	3.0	3.0	1156	$2,200	$1.90	43d	1	0.54mi
1101 Century Oaks Dr Gulfport, MS	3.0	3.0	1330	$1,700	$1.28	43d	1	0.56mi
477 Tegarden Rd Unit D Gulfport, MS	3.0	2.0	1300	$1,300	$1.00	13d	1	0.71mi
1114 Washington Ave Gulfport, MS	3.0	2.0	1200	$1,350	$1.12	21d	1	0.85mi
1339 Foxwood Pl Gulfport, MS	3.0	2.0	1100	$1,375	$1.25	43d	1	0.98mi

Listing history 17 events

1. 2026-06-18
   days on market $85,500 Active 247 DOM
2. 2026-06-17
   days on market $85,500 Active 246 DOM
3. 2026-06-16
   days on market $85,500 Active 245 DOM
4. 2026-06-15
   days on market $85,500 Active 244 DOM
5. 2026-06-14
   days on market $85,500 Active 242 DOM
6. 2026-06-13
   days on market $85,500 Active 241 DOM
7. 2026-06-10
   days on market $85,500 Active 239 DOM
8. 2026-06-09
   days on market $85,500 Active 238 DOM
9. 2026-06-08
   days on market $85,500 Active 237 DOM
10. 2026-06-07
    days on market $85,500 Active 236 DOM
11. 2026-06-05
    days on market $85,500 Active 233 DOM
12. 2026-06-02
    days on market $85,500 Active 231 DOM
13. 2026-06-01
    days on market $85,500 Active 230 DOM
14. 2026-05-31
    days on market $85,500 Active 229 DOM
15. 2026-05-30
    days on market $85,500 Active 228 DOM
16. 2026-04-30
    price $85,500 109-char remark

    Show marketing remark (109 chars)

    Affordable 4bdrm, 1bth brick home. No flood zone. Needs TLC. Buyer must turn on utilities for inspections.

17. 2025-10-14
    listed $95,000 Active 109-char remark

    Show marketing remark (109 chars)

    Affordable 4bdrm, 1bth brick home. No flood zone. Needs TLC. Buyer must turn on utilities for inspections.

ⓘ 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: $1,186 · $99/mo
• Projected year-2 tax: $1,186 · $99/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 20 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: $22,616
• − Mortgage interest: −$4,789
• − Property taxes: −$1,186
• − Insurance: −$428
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$2,487
• Taxable income: $10,108
• Est. tax owed @ 24.0%: −$2,426
• After-tax cash flow: $8,447/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

-10.0% since first listed

2 events — show timeline

• 2026-04-30 Price Changed $85,500 MLSU
• 2025-10-14 Listed $95,000 MLSU

Property tax history

+3.5%/yr

Latest (2025): $1,186 · +25.1% YoY. Source: county tax records.