706 Spanish Acres Dr · Bay St. Louis, MS 39520

$244,900

3 bd · 2.0 ba · 1,327 sqft · SingleFamily public records · 66 Days on market

Built 1970 8,712 sqft lot Est $271k · 10% 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 +23.0/30.0
• ARV discount +11.8/15.0
• DSCR +7.4/10.0
• 1% rule +4.8/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this adorable 3-bedroom, 2-bathroom home situated on a spacious corner lot in a prime location! Featuring a bonus room perfect for a home office, playroom, or extra living space, this property offers flexibility to fit your lifestyle. Step outside and you'll find a barn-style shed in the backyard, ideal for storage, hobbies, or creating your own workshop space. Enjoy the convenience of being just a golf cart ride away from all that downtown Bay St. Louis has to offer from restaurants, shopping, entertainment, and the beautiful waterfront! Located in a no flood zone, this home is a fantastic option whether you're a first-time buyer, looking for an investment property, or need a

Key facts

• Bonus room
• Barn-style shed
• No flood zone

Tags

• CORNER LOT
• BONUS ROOM
• BARN-STYLE SHED
• NO FLOOD ZONE

Property features AI

Finance

• Financial info: Tax information available (excluded per instructions)
• HOA & community: Community offers biking trails, boating, fishing, golf, marina, nearby entertainment, park access, and restaurants

Exterior

• Parking: Driveway with direct access
• Security: Dead-bolt locks
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single-family house; One story; Slab foundation
• Construction: Brick construction; Metal roof; Built (year source: assessor)
• Exterior features: Private yard; Patio; Outbuilding / shed(s); Privacy wood fencing enclosing back yard

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator
• Bedrooms: Not specified
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling; Ceiling fans for cooling
• Interior features: Ceiling fans; Eat-in kitchen; Dead-bolt locks
• Laundry & utility: Dedicated laundry room

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 $434 ($5k/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 $241k (1.5% below list).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 1.9% in Bay St. Louis — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Bay St Louis Waveland School District (suburban): math 51% / reading 43% proficiency, ranked #21 of 130 in MS (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 601 active listings in the ZIP; 2 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 $2k of loan paydown is wiped out by about $7k 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 66 days — a 6% lower offer ($230k) 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 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. 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: 0.98% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.60%
• DSCR: 1.34
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $270,708
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Spanish Acres Dr	0.15mi	4/2.0 (+1)	1,291 (-3%)	6mo	$130,000	$101	79
735 Old Spanish Trl	0.30mi	3/1.5	1,285 (-3%)	9mo	$215,000	$167	72
408 Thomas Shields Blvd	0.20mi	2/2.0 (-1)	1,422 (+7%)	10mo	$410,000	$288	66
446 Ballentine St	0.41mi	2/1.0 (-1)	1,380 (+4%)	0mo	$299,000	$217	65
212 Seventh St	0.55mi	3/1.5	1,330 (+0%)	10mo	$159,000	$120	64
515 Spanish Acres Dr	0.22mi	3/1.5	1,178 (-11%)	8mo	$159,000	$135	62
105 Andre Ct	0.23mi	3/2.0	1,491 (+12%)	8mo	$269,000	$180	62
107 Andre Ct	0.23mi	4/2.0 (+1)	1,520 (+14%)	9mo	$133,500	$88	53
241 Bismark St	0.61mi	2/2.0 (-1)	1,248 (-6%)	10mo	$255,000	$204	49
210 Bay Oaks Dr	0.47mi	3/2.0	1,500 (+13%)	10mo	$380,000	$253	48
866 Washington St	0.62mi	3/2.0	1,162 (-12%)	10mo	$292,000	$251	43
117 Bay Oaks Dr	0.61mi	3/2.0	1,510 (+14%)	10mo	$355,000	$235	40

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-12,123
• Equity at exit: $36,515

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $24,656
• Equity at exit: $21,174

Cash invested: $68,572 (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 39520

• Active inventory: 601
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,411 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$84 /mo · $1,010/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $434

Break-even live

Break-even rent $1,861

Max offer price $244,900

Occupancy floor 77%

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Carre Ct Bay Saint Louis, MS	3.0	2.5	1480	$2,500	$1.69	13d	1	0.71mi
699 Dunbar Ave Bay Saint Louis, MS	2.0	2.0	1000	$2,200	$2.20	21d	1	1.42mi

Listing history 5 events

1. 2026-06-01
   days on market $244,900 Active 66 DOM
2. 2026-05-31
   days on market $244,900 Active 65 DOM
3. 2026-04-30
   price $244,900
4. 2026-03-27
   listed $249,900 Active
5. 2008-08-04
   soldstatus

ⓘ 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: $1,010 · $84/mo
• Projected year-2 tax: $1,935 · $161/mo
• Expected delta: +$925/yr (+$77/mo · 91.6%)

ⓘ 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 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $28,934
• − Mortgage interest: −$13,718
• − Property taxes: −$1,010
• − Insurance: −$1,224
• − Repairs & maintenance: −$2,315
• − Management: −$2,315
• − Depreciation: −$7,124
• Taxable income: $1,227
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $4,917/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: Bay St Louis Waveland School District
• NCES district ID: 2800570
• Math proficiency: 51% ▲ 4.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $38,774
• Composite: 39.27/100
• National rank: #3998
• State rank: #21 of 130 in MS

Livability — Bay St. Louis

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Bay St. Louis, MS
• Population (ZIP): 15,471

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 (80%)
• Race & ethnicity: White 80% Black 11% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 15% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 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: ▼ -169.80%
• Current HPI: 227.2103
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-2.0% since first listed

3 events — show timeline

• 2026-04-30 Price Changed $244,900 MLSU
• 2026-03-27 Listed $249,900 MLSU
• 2008-08-04 Sold (Public Records) — Public Records

Property tax history

-2.0%/yr

Latest (2025): $1,010 · +0.0% YoY. Source: county tax records.