216 Dogwood St · Waveland, MS 39576

$177,000

3 bd · 2.0 ba · 1,644 sqft · SingleFamily public records · 63 Days on market

Built 2009 8,276 sqft lot $108/sqft · 13% below area Est $204k · 13% under ↓ 2% since listing

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Why this score? — see what drove the C+ 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 +24.5/30.0
• ARV discount +13.5/15.0
• DSCR +7.9/10.0
• 1% rule +6.0/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income property OR Ready to call your Home. Great rental history and a proven income-producing property. This well-loved home has consistently attracted quality tenants who have taken excellent care of the property, with maintenance addressed promptly as needed. Currently tenant-occupied, making it an ideal investment opportunity. The home features 3 bedrooms and 2 full baths. The spacious primary suite offers a tray ceiling and ample storage with two closets, while the en-suite bath includes a relaxing soaking tub and separate walk-in shower. The additional bedrooms are well-positioned and generously sized. A vaulted ceiling enhances the living room, creating a warm and inviting atmosphere. The kitchen is thoughtfully designed with abundant counter space, ample cabinetry, and a pantry, along with an oversized laundry room conveniently located just off the kitchen. Enjoy your morning coffee in the light-filled breakfast area, then step out to the covered back porch--perfect for relaxing and enjoying the peaceful outdoor setting. Durable brick and concrete plank siding provide low-maintenance living, adding to this home's overall appeal.

Key facts

• Tenant occupied
• Vaulted ceiling
• Covered back porch

Tags

• INCOME PRODUCING PROPERTY
• TENANT OCCUPIED
• INVESTMENT OPPORTUNITY
• VAULTED CEILING
• LIGHT FILLED BREAKFAST AREA
• COVERED BACK PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $177k.

Deal economics

• At list price, monthly cash flow is $-63 ($-761/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (6.3% below list).
• Meets the 1% rule at list price ($2k rent vs $177k).
• Recommended offer: $166k (6.3% below list) — sets the bar for cash-flow.
• Cap rate 8.8% vs local median 2.5% in Waveland — 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 61/100 on livability (#199 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Hancock County School District (rural): math 47% / reading 44% proficiency, ranked #23 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 225 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 248 units permitted in Hancock County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Hancock County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $18k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,795 (6.3% 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. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (median comp): $204,492
• List price: $177,000
• Delta: -13.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Dogwood St	0.02mi	3/2.0	1,637 (-0%)	16mo	$194,900	$119	85
4136 Coral St	0.44mi	3/2.0	1,689 (+3%)	10mo	$199,000	$118	66
4358 Coral St	0.42mi	4/2.0 (+1)	1,500 (-9%)	3mo	$184,999	$123	58
205 Idlewood Dr	0.44mi	3/2.0	1,716 (+4%)	22mo	$234,500	$137	54
709 Boyd St	0.69mi	3/2.0	1,601 (-3%)	23mo	$279,000	$174	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.35×
• Total profit: $-32,458
• Equity at exit: $26,391

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-32,396
• Equity at exit: $15,304

Cash invested: $49,560 (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 39576

• Active inventory: 225
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$928
• Tax from tax record: −$175 /mo · $2,105/yr
• Insurance: −$74
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-63

Break-even live

Break-even rent $2,030

Max offer price $165,795

Occupancy floor 98%

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Maple St Waveland, MS	4.0	2.0	1702	$1,950	$1.15	2d	1	1.39mi

Listing history 22 events

1. 2026-06-18
   days on market $177,000 Active 63 DOM
2. 2026-06-17
   days on market $177,000 Active 62 DOM
3. 2026-06-16
   days on market $177,000 Active 61 DOM
4. 2026-06-15
   days on market $177,000 Active 60 DOM
5. 2026-06-14
   days on market $177,000 Active 58 DOM
6. 2026-06-13
   days on market $177,000 Active 57 DOM
7. 2026-06-10
   days on market $177,000 Active 55 DOM
8. 2026-06-09
   days on market $177,000 Active 54 DOM
9. 2026-06-08
   days on market $177,000 Active 53 DOM
10. 2026-06-07
    days on market $177,000 Active 52 DOM
11. 2026-06-05
    days on market $177,000 Active 49 DOM
12. 2026-06-03
    days on market $177,000 Active 48 DOM
13. 2026-06-03
    price $177,000 Active 47 DOM
14. 2026-06-02
    days on market $195,000 Active 47 DOM
15. 2026-06-01
    days on market $195,000 Active 46 DOM
16. 2026-05-31
    days on market $195,000 Active 45 DOM
17. 2026-05-30
    days on market $195,000 Active 44 DOM
18. 2026-04-16
    listed $195,000 Active 1170-char remark

    Show marketing remark (1170 chars)

    Income property OR Ready to call your Home. Great rental history and a proven income-producing property. This well-loved home has consistently attracted quality tenants who have taken excellent care of the property, with maintenance addressed promptly as needed. Currently tenant-occupied, making it an ideal investment opportunity. The home features 3 bedrooms and 2 full baths. The spacious primary suite offers a tray ceiling and ample storage with two closets, while the en-suite bath includes a relaxing soaking tub and separate walk-in shower. The additional bedrooms are well-positioned and generously sized. A vaulted ceiling enhances the living room, creating a warm and inviting atmosphere. The kitchen is thoughtfully designed with abundant counter space, ample cabinetry, and a pantry, along with an oversized laundry room conveniently located just off the kitchen. Enjoy your morning coffee in the light-filled breakfast area, then step out to the covered back porch--perfect for relaxing and enjoying the peaceful outdoor setting. Durable brick and concrete plank siding provide low-maintenance living, adding to this home's overall appeal.

19. 2025-09-01
    historical
20. 2025-06-17
    listed $225,000 Active
21. 2022-07-29
    historical
22. 2022-06-01
    listed $199,900 Active

ⓘ 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: $2,105 · $175/mo
• Projected year-2 tax: $2,105 · $175/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 7/10 Severe FEMA zone AE · 95% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,400
• − Mortgage interest: −$9,915
• − Property taxes: −$2,105
• − Insurance: −$6,004
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$5,149
• Taxable loss: −$3,516
• Est. tax savings @ 24.0%: +$844
• After-tax cash flow: $83/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: Hancock County School District
• NCES district ID: 2801740
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $47,971
• Composite: 38.88/100
• National rank: #4099
• State rank: #23 of 130 in MS

Livability — Waveland

• Score: 61/100
• State rank: #199
• US rank: #18110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waveland, MS
• City population: 6,249
• Population (ZIP): 6,249

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 52,161 people
• By 2030: 54,753 · +5.0%
• By 2040: 59,242 · +13.6%
• By 2050: 62,417 · +19.7%
• By 2075: 68,168 · +30.7%
• By 2100: 69,212 · +32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 13% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Lithuanian 8% Italian 1% Russian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 2% Arabic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+58.7) · D 20.1% · R 78.8% · Other 1.1%
• 2008→2024 swing: -4.4pp toward R · 2008: -54.2pp · 2024: -58.7pp
• All cycles: 2024: R+58.7 2020: R+55.5 2016: R+59.4 2012: R+52.8 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.70%
• Current HPI: 218.6299
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-2.5% since first listed

5 events — show timeline

• 2026-04-16 Listed $195,000 MLSU
• 2025-09-01 Listing Removed — MLSU
• 2025-06-17 Listed $225,000 MLSU
• 2022-07-29 Listing Removed — MLSU
• 2022-06-01 Listed $199,900 MLSU

Property tax history

+2.8%/yr

Latest (2025): $2,105 · +3.0% YoY. Source: county tax records.