115 Gahan Dr · Gulfport, MS 39503

$250,000

3 bd · 3.0 ba · 1,040 sqft · SingleFamily public records · 48 Days on market

Built 1968 9,583 sqft lot $240/sqft · 97% above area Est $237k · 6% over

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Why this score? — see what drove the F 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 +7.7/30.0
• ARV discount +4.9/15.0
• Rent growth +4.2/5.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this 4 bedroom 1.5 bathroom single family home. This property built in 1968 has approximately 1040 square feet of living space. Close to restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for.

Key facts

• Sizable backyard
• Fresh interior
• New appliances

Tags

• NEW APPLIANCES
• FRESH INTERIOR
• SIZABLE BACKYARD
• CLOSE PROXIMITY

Property features AI

Exterior

• Parking: Driveway; Concrete parking surface
• Utilities: Public water; Public sewer; Electricity connected; Water available
• Home design: Single-family house; One level; Move-in ready
• Construction: Brick construction; Slab foundation; Built (year per public records)
• Exterior features: Front porch; Chain link fence; Shingle roof

Interior

• Kitchen: Microwave; Refrigerator
• Flooring: Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Dead bolt locks; Private entrance; Storage
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (36.7% below list).
• Recommended offer: $158k (36.7% below list) — sets the bar for 1% rule.

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.
• Harrison County School District (rural): math 52% / reading 46% proficiency, ranked #14 of 130 in MS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.0%/yr); 763 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 30% of the median local income ($63k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,249 (36.7% 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 48 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.63% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.97%
• DSCR: 0.78
• GRM: 13.2

CMA / ARV

• ARV (median comp): $236,540
• List price: $250,000
• Delta: 5.69%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Gahan Dr	0.03mi	3/1.5	1,100 (+6%)	3mo	$145,000	$132	80
11406 Harris Dr	0.28mi	3/1.5	1,070 (+3%)	4mo	$165,000	$154	73
413 N Wilson Blvd	0.21mi	3/1.0	1,000 (-4%)	4mo	$125,000	$125	72
104 Estes St	0.20mi	3/2.0	1,109 (+7%)	7mo	$100,000	$90	70
11433 Klein Rd	0.11mi	3/1.5	1,150 (+11%)	3mo	$70,000	$61	69
301 N Wilson Blvd	0.32mi	3/1.5	1,108 (+6%)	8mo	$125,000	$113	62
710 Beverly Dr	0.62mi	3/2.0	1,014 (-2%)	3mo	$140,000	$138	60
305 Lavelle Dr	0.74mi	3/2.0	1,050 (+1%)	3mo	$140,000	$133	58
1008 Debra Dr	0.54mi	3/1.5	1,066 (+2%)	10mo	$139,900	$131	56
201 Tandy Dr	0.64mi	3/1.5	1,026 (-1%)	9mo	$89,900	$88	54
201 Mary Dr	0.70mi	3/1.5	1,053 (+1%)	10mo	$170,000	$161	51
801 Shirley Dr	0.66mi	3/1.5	986 (-5%)	5mo	$80,750	$82	51

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 · 6.99% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.25×
• Total profit: $-52,469
• Equity at exit: $37,276

10-year hold

• IRR: -8.0%
• Equity multiple: 0.42×
• Total profit: $-40,407
• Equity at exit: $21,615

Cash invested: $70,000 (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 39503

• Home prices YoY: -21.5%
• Rents YoY: 7.0%
• Active inventory: 763
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$125 /mo · $1,500/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-290

Break-even live

Break-even rent $1,950

Max offer price $198,759

Occupancy floor —

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Fore St Gulfport, MS	3.0	2.0	1215	$1,700	$1.40	14d	1	0.24mi
125 Clarence Dr Gulfport, MS	3.0	2.0	1300	$1,500	$1.15	14d	1	0.26mi
11502 Camden Court Cir Gulfport, MS	3.0	2.0	1495	$1,775	$1.19	21d	1	0.42mi
11405 Camden Court Cir Gulfport, MS	3.0	2.0	1495	$1,775	$1.19	44d	1	0.49mi
11425 Camden Court Cir Gulfport, MS	3.0	2.0	1495	$1,775	$1.19	21d	1	0.49mi
11413 Camden Court Cir Gulfport, MS	3.0	2.0	1495	$1,775	$1.19	44d	1	0.49mi
11487 Camden Court Cir Gulfport, MS	3.0	2.0	1495	$1,775	$1.19	44d	1	0.49mi
1009 Michelle Dr Gulfport, MS	4.0	2.0	1254	$1,650	$1.32	44d	1	0.59mi
11213 Dobson Rd Gulfport, MS	2.0	1.0	900	$1,200	$1.33	44d	1	0.62mi
15373 Saint Charles St Gulfport, MS	3.0	1.0–3.0	1075	$1,350	$1.26	44d	2	0.76mi
11200 Three Rivers Rd Gulfport, MS	2.0	2.0	1042	$1,147	$1.10	44d	1	0.83mi
11200 Three Rivers Rd Gulfport, MS	3.0	2.0	1124	$1,445	$1.29	14d	1	0.83mi
15251 Parkwood Dr N Gulfport, MS	3.0	2.5	1200	$1,200	$1.00	44d	1	0.97mi
14437 Whitney Dr Gulfport, MS	2.0	1.5	1200	$1,200	$1.00	44d	1	1.03mi
10479 Cal Ln Gulfport, MS	2.0	1.5	1200	$950	$0.79	21d	1	1.03mi
10471 Three Rivers Rd Gulfport, MS	1.0–2.0	1.0–2.0	778	$1,050	$1.35	44d	1	1.07mi
15235 Oneal Rd Gulfport, MS	2.0	2.0	1101	$1,200	$1.09	14d	1	1.09mi
12040 Highland Ave Gulfport, MS	3.0	2.0	1019	$950	$0.93	14d	1	1.14mi
12147 Prudie Cir Gulfport, MS	3.0	2.0	1100	$975	$0.89	44d	1	1.24mi
14180 Oneal Rd Gulfport, MS	2.0	1.0	1000	$1,100	$1.10	44d	2	1.35mi
12450 Three Rivers Rd Gulfport, MS	3.0	2.0	1098	$1,295	$1.18	44d	1	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $250,000 Active 48 DOM
2. 2026-06-17
   days on market $250,000 Active 47 DOM
3. 2026-06-16
   days on market $250,000 Active 46 DOM
4. 2026-06-15
   days on market $250,000 Active 45 DOM
5. 2026-06-14
   days on market $250,000 Active 43 DOM
6. 2026-06-13
   days on market $250,000 Active 42 DOM
7. 2026-06-10
   days on market $250,000 Active 40 DOM
8. 2026-06-09
   days on market $250,000 Active 39 DOM
9. 2026-06-08
   days on market $250,000 Active 38 DOM
10. 2026-06-07
    days on market $250,000 Active 37 DOM
11. 2026-06-02
    days on market $250,000 Active 32 DOM
12. 2026-06-01
    days on market $250,000 Active 31 DOM
13. 2026-05-31
    days on market $250,000 Active 30 DOM
14. 2026-05-30
    days on market $250,000 Active 29 DOM
15. 2026-05-01
    listed $250,000 Active 549-char remark
16. 2021-01-26
    soldstatus 298-char remark

    Show marketing remark (298 chars)

    Great opportunity to own this 4 bedroom 1.5 bathroom single family home. This property built in 1968 has approximately 1040 square feet of living space. Close to restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for.

17. 2020-08-25
    listed $51,600 298-char remark

    Show marketing remark (298 chars)

    Great opportunity to own this 4 bedroom 1.5 bathroom single family home. This property built in 1968 has approximately 1040 square feet of living space. Close to restaurants and shopping. Bring your ideas and design and see how you can transform this place into just what you have been looking for.

18. 2020-07-10
    soldstatus
19. 2006-11-30
    soldstatus

    Show marketing remark (135 chars)

    New paint; new roof; fully plumbed for 2 full bath; 14x26 workshop (wired) nice kitchen and family room added to rear; over 1900 sq ft.

20. 2006-07-26
    listed $119,500

    Show marketing remark (135 chars)

    New paint; new roof; fully plumbed for 2 full bath; 14x26 workshop (wired) nice kitchen and family room added to rear; over 1900 sq ft.

21. 2004-12-01
    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: $1,500 · $125/mo
• Projected year-2 tax: $1,975 · $165/mo
• Expected delta: +$475/yr (+$40/mo · 31.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 22 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: $18,990
• − Mortgage interest: −$14,004
• − Property taxes: −$1,500
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − Depreciation: −$7,273
• Taxable loss: −$8,076
• Est. tax savings @ 24.0%: +$1,938
• After-tax cash flow: $-1,543/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: Harrison County School District
• NCES district ID: 2801770
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $46,504
• Composite: 41.66/100
• National rank: #3419
• State rank: #14 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): 55,059
• Household income: $62,641
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 1686.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Black 27% Two or more races 9% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Slovak 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -51.39%
• Current HPI: 187.285
• Rent YoY: ▲ 6.99%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+109.2% since first listed

7 events — show timeline

• 2026-05-01 Listed $250,000 MLSU
• 2021-01-26 Sold (MLS) — MLSU
• 2020-08-25 Listed $51,600 MLSU
• 2020-07-10 Sold (Public Records) — Public Records
• 2006-11-30 Sold (MLS) — MLSU
• 2006-07-26 Listed $119,500 MLSU
• 2004-12-01 Sold (Public Records) — Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,500 · +4.2% YoY. Source: county tax records.