3605 N 9th St · Gulf Park Estates, MS 39564

$195,000

3 bd · 1.0 ba · 1,582 sqft · SingleFamily public records · 5 Days on market

Built 1978 0.25 ac lot Est $240k · 19% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• Schools +5.3/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Cottage Bungalow- Main floor fully remodeled and move in ready! This beautiful redesigned cottage features a completely remodeled first floor with 1 spacious bedroom a full bath, convenient laundry area and a enlarged bathroom for added comfort. The updated kitchen opens to the living room with vaulted ceilings and wood beams, offers brand new cabinetry with all new stainless appliances ( covered by warranty), kitchen island overlooking spacious living space with wood burning fireplace , linen closet , walk in pantry and new windows throughout the whole floor. Two bedrooms in the basement could be also used as guest rooms or a play room and a man cave. You'll appreciate workshop d

Key facts

• Fully remodeled
• Workshop downstairs
• Updated kitchen

Tags

• FULLY REMODELED
• UPDATED KITCHEN
• KITCHEN ISLAND
• WOOD BURNING FIREPLACE
• WALK IN PANTRY
• WORKSHOP DOWNSTAIRS

Property features AI

Finance

• HOA & community: Community offers boating and fishing access; Near entertainment; RV/boat storage available

Exterior

• Parking: Attached carport; Carport with storage; Driveway parking; Total 2 parking spaces (1 carport space noted); Concrete surfaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water and sewer connected
• Home design: Single family residence (house); Two levels; Move-in ready
• Construction: Metal roof; Cement, wood and stone siding; Block and concrete perimeter foundation; Built (year source: assessor)
• Exterior features: Front porch; Side porch; Partial fencing; Few trees on the lot; Workshop and exterior storage structures

Interior

• Kitchen: Dishwasher; Disposal; Electric range / free-standing range; Microwave; Refrigerator; Electric water heater
• Flooring: Luxury vinyl; Laminate; Concrete flooring
• Bathrooms: One full bathroom; One half bathroom (1.5 total bathrooms)
• Heating & cooling: Electric heating; Heat pump; Fireplace(s) (wood burning); Central air; Ceiling fans; Wall/window unit(s); Humidity control
• Interior features: Open floorplan with cathedral ceilings; Breakfast bar and kitchen island; Eat-in kitchen with pantry; Stone counters; Storage space
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located on lower level and inside; Sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/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 $194k (0.6% below list).
• Recommended offer: $194k (0.6% below list) — sets the bar for 1% rule.
• Cap rate 8.5% vs local median 5.2% in Gulf Park Estates — 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 70/100 on livability (#43 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, 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: 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 8y 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: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,842 (0.6% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.99% ✗
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $240,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3512 N 9th St	0.08mi	3/2.0	1,541 (-3%)	11mo	$226,900	$147	79
3424 N 5th St	0.33mi	3/2.0	1,502 (-5%)	4mo	$245,000	$163	69
3212 N 5th St	0.48mi	3/2.0	1,641 (+4%)	1mo	$249,900	$152	67
3613 N 7th St	0.13mi	3/2.0	1,742 (+10%)	8mo	$260,000	$149	66
3217 N 2nd St	0.64mi	3/2.0	1,575 (-0%)	10mo	$175,000	$111	57
3717 Tangerine St	0.43mi	3/2.0	1,752 (+11%)	2mo	$250,000	$143	57
3204 N 2nd St	0.63mi	3/2.0	1,635 (+3%)	11mo	$259,000	$158	52
3200 N 9th St	0.43mi	3/2.0	1,788 (+13%)	8mo	$289,000	$162	48
9220 Live Oak Ave	0.69mi	3/2.0	1,462 (-8%)	5mo	$239,900	$164	47
9336 Ridgeview Dr	0.49mi	3/2.0	1,785 (+13%)	7mo	$380,000	$213	46
3201 Beachview Dr	0.46mi	4/2.0 (+1)	1,804 (+14%)	10mo	$182,500	$101	38
3309 N 2nd St	0.60mi	4/2.5 (+1)	1,774 (+12%)	9mo	$270,000	$152	33

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-11,984
• Equity at exit: $29,075

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $5,918
• Equity at exit: $16,860

Cash invested: $54,600 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$67 /mo · $809/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $360

Break-even live

Break-even rent $1,483

Max offer price $195,000

Occupancy floor 76%

Sensitivity live

Price	-10% $470	-5% $415	+0% $360	+5% $305	+10% $250
Rent	-10% $207	-5% $284	+0% $360	+5% $437	+10% $513
Rate	-1.0pp $458	-0.5pp $410	base $360	+0.5pp $310	+1.0pp $258

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3305 N 8th St Ocean Springs, MS	4.0	2.0	1802	$2,250	$1.25	22d	1	0.33mi
106 Booth Cir Ocean Springs, MS	4.0	2.0	2100	$2,500	$1.19	14d	1	0.84mi
8700 Spring Ave Ocean Springs, MS	3.0	2.0	1087	$1,050	$0.97	45d	1	0.89mi
8700 Spring Ave Ocean Springs, MS	3.0	2.0	1087	$1,050	$0.97	22d	1	0.89mi
1200 Deana Rd Ocean Springs, MS	2.0	2.0	1063	$1,296	$1.22	22d	1	1.37mi
1200 Deana Rd Ocean Springs, MS	2.0	2.0	1063	$1,337	$1.26	45d	1	1.37mi
1200 Deana Rd Ocean Springs, MS	2.0	2.0	1063	$1,405	$1.32	14d	1	1.37mi
132 Gettysburg Cir Ocean Springs, MS	4.0	3.0	1689	$2,195	$1.30	22d	1	1.40mi
8712 W Simmons Bayou Dr Ocean Springs, MS	2.0	2.0	1100	$1,900	$1.73	45d	1	1.42mi

Listing history 6 events

1. 2026-06-13
   status $195,000 Pending 5 DOM
2. 2026-06-10
   days on market $195,000 Active 5 DOM
3. 2026-06-09
   days on market $195,000 Active 4 DOM
4. 2026-06-08
   days on market $195,000 Active 3 DOM
5. 2026-06-07
   remarks 699-char remark
6. 2026-06-07
   listed $195,000 Active 2 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: $809 · $67/mo
• Projected year-2 tax: $1,541 · $128/mo
• Expected delta: +$732/yr (+$61/mo · 90.5%)

ⓘ 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) · 7% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $23,261
• − Mortgage interest: −$10,923
• − Property taxes: −$809
• − Insurance: −$975
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$5,673
• Taxable income: $1,160
• Est. tax owed @ 24.0%: −$278
• After-tax cash flow: $4,043/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 — Gulf Park Estates

• Score: 70/100
• State rank: #43
• US rank: #7955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulf Park Estates, 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

+146.8% since first listed

10 events — show timeline

• 2026-06-05 Listed $195,000 MLSU
• 2026-02-09 Price Changed $179,000 MLSU
• 2026-01-15 Relisted — MLSU
• 2026-01-10 Pending — MLSU
• 2026-01-10 Listing Removed — MLSU
• 2025-10-27 Listed $189,000 MLSU
• 2025-10-24 Listed $189,000 MLSU
• 2025-10-24 Listing Removed — MLSU
• 2018-02-28 Sold (MLS) — MLSU
• 2018-01-18 Listed $79,000 MLSU

Property tax history

-3.9%/yr

Latest (2025): $809 · +11.4% YoY. Source: county tax records.