113 Colmer Cir · Ocean Springs, MS 39564

$245,000

3 bd · 2.0 ba · 1,167 sqft · SingleFamily public records · 11 Days on market

Built 1970 7,405 sqft lot Est $243k · at est.

---

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 +12.5/30.0
• ARV discount +7.1/15.0
• Schools +5.3/10.0
• Livability +4.3/5.0
• DSCR +3.7/10.0
• 1% rule +2.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming Ocean Springs home is located in the coveted Oak Park school district of Ocean Springs. Within walking distance to East Beach and a quick bike or golf cart ride to downtown Ocean Springs. Have your morning coffee on the quaint covered front porch. The kitchen features quartz countertops and immaculate custom cabinetry. HVAC is only 4 years old. Don't miss you chance on this beautiful home. Buyers and buyers agent to verify all listing information.

Key facts

• 7,405 sq ft lot
• Parking
• Built 1970

Tags

• ESTABLISHED NEIGHBORHOOD
• FULLY FENCED BACKYARD
• INCOME-PRODUCING OPPORTUNITY
• OCEAN SPRINGS SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-36 ($-435/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (21.9% below list).
• Recommended offer: $191k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Oak Park Elementary School (math 67% / reading 57%, grade B, #18 of 375 statewide, top 5%, 498 students, 99% FRL); Ocean Springs Middle School (math 66% / reading 61%, grade B+, #3 of 179 statewide, top 2%, 967 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); 718 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $191,456 (21.9% 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. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.78% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $242,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Colmer Cir	0.00mi	3/1.5	1,167 (0%)	1mo	$245,000	$210	98
103 Stennis Ave	0.14mi	3/2.0	1,179 (+1%)	13mo	$244,999	$208	81
11 Fleetwood Pl	0.12mi	3/1.0	1,250 (+7%)	2mo	$249,842	$200	77
232 Woodland Cir	0.49mi	3/1.5	1,120 (-4%)	0mo	$170,000	$152	68
407 Holly St	0.24mi	3/1.0	1,300 (+11%)	7mo	$230,000	$177	60
417 Woody Cir	0.33mi	3/2.0	1,324 (+14%)	3mo	$339,000	$256	60
112 Myrtle Rd	0.38mi	3/2.0	1,040 (-11%)	10mo	$189,000	$182	55
309 Teringo Cir	0.47mi	3/1.0	1,020 (-13%)	0mo	$219,900	$216	53
404 Woody Cir	0.32mi	2/1.0 (-1)	1,070 (-8%)	12mo	$199,900	$187	53
209 Audrey Cir	0.60mi	4/2.0 (+1)	1,312 (+12%)	11mo	$299,999	$229	37
108 Sunhaven Dr	0.75mi	3/1.0	1,032 (-12%)	6mo	$239,900	$232	37
221 Woodland Cir	0.55mi	4/1.0 (+1)	1,300 (+11%)	19mo	$205,000	$158	30

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: -19.1%
• Equity multiple: 0.34×
• Total profit: $-45,272
• Equity at exit: $36,530

10-year hold

• IRR: -15.3%
• Equity multiple: 0.19×
• Total profit: $-55,339
• Equity at exit: $21,183

Cash invested: $68,600 (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: 718
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,915 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$162 /mo · $1,943/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-36

Break-even live

Break-even rent $1,960

Max offer price $238,594

Occupancy floor 97%

Sensitivity live

Price	-10% $102	-5% $33	+0% $-36	+5% $-106	+10% $-175
Rent	-10% $-188	-5% $-112	+0% $-36	+5% $39	+10% $115
Rate	-1.0pp $87	-0.5pp $26	base $-36	+0.5pp $-100	+1.0pp $-164

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Fleetwood Pl Ocean Springs, MS	2.0	1.0	912	$2,000	$2.19	45d	1	0.11mi
107 Elliott Pl Ocean Springs, MS	3.0	1.0	1148	$1,695	$1.48	22d	1	0.46mi
246 Woodland Cir Ocean Springs, MS	3.0	1.0	984	$1,475	$1.50	45d	1	0.56mi
111 Armand Oaks Ocean Springs, MS	3.0	2.5	1500	$1,800	$1.20	45d	1	0.64mi
422 Whispering Pine Dr Ocean Springs, MS	3.0	2.0	1075	$1,795	$1.67	15d	1	0.74mi
600 Bechtel Blvd Ocean Springs, MS	2.0	2.0	944	$1,500	$1.59	15d	1	0.77mi
230 Saratoga Dr Ocean Springs, MS	3.0	2.0	1380	$1,850	$1.34	15d	1	0.79mi
230 Saratoga Dr Ocean Springs, MS	3.0	2.0	1450	$1,800	$1.24	45d	1	0.79mi
237 Saratoga Dr Ocean Springs, MS	3.0	2.0	1295	$2,150	$1.66	15d	1	0.80mi
212 Maple Dr Ocean Springs, MS	3.0	1.5	1092	$1,475	$1.35	15d	1	0.90mi
2501 Bienville Blvd Ocean Springs, MS	2.0	2.0	1156	$2,000	$1.73	45d	1	1.18mi
623 Camellia Pointe Blvd Ocean Springs, MS	2.0	2.0	1333	$2,200	$1.65	45d	1	1.20mi
1509 Bowen Ave Ocean Springs, MS	2.0	1.0	1200	$1,600	$1.33	22d	1	1.24mi
2501 Bienville Blvd Unit 432 Ocean Springs, MS	2.0	2.0	1095	$2,300	$2.10	45d	1	1.28mi

Listing history 9 events

1. 2026-02-15
   status Pending
2. 2026-02-04
   listed $245,000 Active
3. 2022-07-12
   soldstatus
4. 2022-07-07
   soldstatus Closed 465-char remark

   Show marketing remark (465 chars)

   This charming Ocean Springs home is located in the coveted Oak Park school district of Ocean Springs. Within walking distance to East Beach and a quick bike or golf cart ride to downtown Ocean Springs. Have your morning coffee on the quaint covered front porch. The kitchen features quartz countertops and immaculate custom cabinetry. HVAC is only 4 years old. Don't miss you chance on this beautiful home. Buyers and buyers agent to verify all listing information.

5. 2022-05-14
   status Pending 465-char remark

   Show marketing remark (465 chars)

   This charming Ocean Springs home is located in the coveted Oak Park school district of Ocean Springs. Within walking distance to East Beach and a quick bike or golf cart ride to downtown Ocean Springs. Have your morning coffee on the quaint covered front porch. The kitchen features quartz countertops and immaculate custom cabinetry. HVAC is only 4 years old. Don't miss you chance on this beautiful home. Buyers and buyers agent to verify all listing information.

6. 2022-05-14
   listed $235,000 Active 465-char remark

   Show marketing remark (465 chars)

   This charming Ocean Springs home is located in the coveted Oak Park school district of Ocean Springs. Within walking distance to East Beach and a quick bike or golf cart ride to downtown Ocean Springs. Have your morning coffee on the quaint covered front porch. The kitchen features quartz countertops and immaculate custom cabinetry. HVAC is only 4 years old. Don't miss you chance on this beautiful home. Buyers and buyers agent to verify all listing information.

7. 2020-07-09
   soldstatus
8. 2019-12-13
   soldstatus 407-char remark

   Show marketing remark (407 chars)

   This adorable home is located in desirable Ocean Springs School District and just minutes from downtown Ocean Springs and the beach! This home has tile throughout, stainless steel refrigerator, brand new AC unit inside and out, and a paritally enclosed garage that can be turned into another living area, or converted back into a garage for storage. Don't wait because at this price it's sure to go quickly.

9. 2019-10-09
   listed $134,900 407-char remark

   Show marketing remark (407 chars)

   This adorable home is located in desirable Ocean Springs School District and just minutes from downtown Ocean Springs and the beach! This home has tile throughout, stainless steel refrigerator, brand new AC unit inside and out, and a paritally enclosed garage that can be turned into another living area, or converted back into a garage for storage. Don't wait because at this price it's sure to go quickly.

ⓘ 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: $1,943 · $162/mo
• Projected year-2 tax: $1,943 · $162/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 23 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: $22,975
• − Mortgage interest: −$13,724
• − Property taxes: −$1,943
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$7,127
• Taxable loss: −$4,720
• Est. tax savings @ 24.0%: +$1,133
• After-tax cash flow: $698/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
• City population: 43,240
• 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

+81.6% since first listed

9 events — show timeline

• 2026-02-15 Pending — MLSU
• 2026-02-04 Listed $245,000 MLSU
• 2022-07-12 Sold (Public Records) — Public Records
• 2022-07-07 Sold (MLS) — MLSU
• 2022-05-14 Pending — MLSU
• 2022-05-14 Listed $235,000 MLSU
• 2020-07-09 Sold (Public Records) — Public Records
• 2019-12-13 Sold (MLS) — MLSU
• 2019-10-09 Listed $134,900 MLSU

Property tax history

+4.3%/yr

Latest (2025): $1,943 · +7.9% YoY. Source: county tax records.