212 Capri Pl #212 · Ocean Springs, MS 39564

$235,000

3 bd · 2.5 ba · 2,182 sqft · Condo · 111 Days on market

Built 2007 Good condition $108/sqft · 33% below area Est $349k · 33% under · waterfront $205/mo HOA · 9% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +11.8/30.0
• Schools +6.5/10.0
• 1% rule +4.5/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking at Lakeview Townhomes on Capri Place in Ocean Springs! Units 212, 312, and 314 are available for purchase individually, in any combination of two, or as a complete three-unit package, offering exceptional flexibility for investors or owner-occupants. All three units are currently leased, providing immediate income potential, and each features a newly installed roof for added value and peace of mind. Ideally located just minutes from I-10, shopping, restaurants, Ocean Springs Hospital, and the growing medical corridor along Highway 57, these approximately 2,182-square-foot lakefront townhomes offer an outstanding combination of convenience, quality, and affordability. Each unit features a spacious floor plan with a dramatic great room boasting 18-foot ceilings and beautiful lake views, a well-appointed kitchen with abundant cabinetry, Baltic Brown granite countertops, and custom finishes, plus a first-floor primary suite with a walk-in closet, private porch access, jetted tub, double vanity, and separate water closet. Upstairs are two oversized bedrooms, including one with a versatile bonus space ideal for an office, hobby room, or media area, along with an open loft overlooking the great room below. Additional features include brick and stucco construction, attached garages with high ceilings, covered front and rear porches, crown molding, custom lighting and fans, separate laundry rooms, walk-in closets, off-street parking, excellent drainage, and a desirable no-flood-zone location. These well-maintained lakefront properties offer a rare opportunity to purchase one, two, or all three units in one of Ocean Springs' most convenient and sought-after locations.

Key facts

• $205 HOA
• Garage
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-63 ($-753/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (4.9% below list).
• Recommended offer: $214k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.0% 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: Pecan Park Elementary School (math 62% / reading 57%, grade B-, #27 of 375 statewide, top 8%, 530 students, 99% FRL); Ocean Springs Upper Elementary Scho (math 59% / reading 56%, grade B, #12 of 179 statewide, top 6%, 1,332 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); 1063 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).
• This rent runs 34% of the median local income ($79k/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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,850 (9.0% 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 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 8.8

CMA / ARV

• ARV (median comp): $349,484
• List price: $235,000
• Delta: -32.76%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.31×
• Total profit: $-45,654
• Equity at exit: $35,039

10-year hold

• IRR: -18.0%
• Equity multiple: 0.10×
• Total profit: $-59,080
• Equity at exit: $20,319

Cash invested: $65,800 (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: 1063
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$205
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-63

Break-even live

Break-even rent $2,315

Max offer price $225,925

Occupancy floor 98%

Sensitivity live

Price	-10% $100	-5% $18	+0% $-63	+5% $-144	+10% $-225
Rent	-10% $-239	-5% $-151	+0% $-63	+5% $26	+10% $114
Rate	-1.0pp $56	-0.5pp $-3	base $-63	+0.5pp $-124	+1.0pp $-186

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: $58,750
• Closing costs: $7,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Everly Cir Ocean Springs, MS	4.0	3.0	2525	$2,750	$1.09	0d	1	1.01mi
132 Gettysburg Cir Ocean Springs, MS	4.0	3.0	1689	$2,195	$1.30	117d	1	1.08mi
13100 Ronda Ln Ocean Springs, MS	3.0	2.5	1553	$1,950	$1.26	0d	1	1.31mi
602 Ronda Ln Ocean Springs, MS	3.0	2.0	1495	$1,900	$1.27	6d	1	1.34mi

HOA detail $205/mo · $2,460/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-24
   days on market $235,000 Active 111 DOM
2. 2026-09-24
   days on market $235,000 Active 110 DOM
3. 2026-09-22
   days on market $235,000 Active 109 DOM
4. 2026-09-21
   days on market $235,000 Active 108 DOM
5. 2026-09-20
   days on market $235,000 Active 107 DOM
6. 2026-09-18
   days on market $235,000 Active 105 DOM
7. 2026-09-17
   days on market $235,000 Active 104 DOM
8. 2026-09-16
   days on market $235,000 Active 103 DOM
9. 2026-09-15
   days on market $235,000 Active 102 DOM
10. 2026-09-14
    days on market $235,000 Active 101 DOM
11. 2026-09-13
    days on market $235,000 Active 100 DOM
12. 2026-09-12
    days on market $235,000 Active 99 DOM
13. 2026-09-11
    days on market $235,000 Active 98 DOM
14. 2026-09-05
    days on market $235,000 Active 92 DOM
15. 2026-09-04
    days on market $235,000 Active 91 DOM
16. 2026-09-03
    days on market $235,000 Active 90 DOM
17. 2026-08-31
    days on market $235,000 Active 87 DOM
18. 2026-08-30
    days on market $235,000 Active 86 DOM
19. 2026-08-29
    days on market $235,000 Active 85 DOM
20. 2026-08-28
    days on market $235,000 Active 84 DOM
21. 2026-08-27
    days on market $235,000 Active 83 DOM
22. 2026-08-26
    days on market $235,000 Active 82 DOM
23. 2026-08-25
    days on market $235,000 Active 81 DOM
24. 2026-08-24
    days on market $235,000 Active 80 DOM
25. 2026-08-23
    days on market $235,000 Active 79 DOM
26. 2026-08-22
    days on market $235,000 Active 78 DOM
27. 2026-08-21
    days on market $235,000 Active 77 DOM
28. 2026-08-20
    days on market $235,000 Active 76 DOM
29. 2026-08-19
    days on market $235,000 Active 75 DOM
30. 2026-08-18
    days on market $235,000 Active 74 DOM
31. 2026-08-17
    days on market $235,000 Active 73 DOM
32. 2026-08-16
    days on market $235,000 Active 72 DOM
33. 2026-08-15
    days on market $235,000 Active 71 DOM
34. 2026-08-15
    days on market $235,000 Active 70 DOM
35. 2026-08-13
    days on market $235,000 Active 69 DOM
36. 2026-08-12
    days on market $235,000 Active 68 DOM
37. 2026-08-11
    days on market $235,000 Active 67 DOM
38. 2026-08-10
    days on market $235,000 Active 66 DOM
39. 2026-08-09
    days on market $235,000 Active 65 DOM
40. 2026-08-08
    days on market $235,000 Active 64 DOM
41. 2026-08-07
    days on market $235,000 Active 63 DOM
42. 2026-08-06
    days on market $235,000 Active 62 DOM
43. 2026-08-05
    days on market $235,000 Active 61 DOM
44. 2026-08-04
    days on market $235,000 Active 60 DOM
45. 2026-08-03
    days on market $235,000 Active 59 DOM
46. 2026-07-31
    days on market $235,000 Active 56 DOM
47. 2026-07-29
    days on market $235,000 Active 54 DOM
48. 2026-07-27
    days on market $235,000 Active 52 DOM
49. 2026-07-25
    days on market $235,000 Active 50 DOM
50. 2026-07-23
    days on market $235,000 Active 48 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $26,830
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − HOA: −$2,460
• − Depreciation: −$6,836
• Taxable loss: −$4,623
• Est. tax savings @ 24.0%: +$1,109
• After-tax cash flow: $357/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $10,910–$32,730 screening

This well-maintained townhome is in good condition with no major repairs needed. It offers a good balance of interior and exterior features, making it a solid investment opportunity.

Value-add opportunities

• Resale Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Rental Landscaping improvements — Well-maintained landscaping can increase the home's rental value by making it more appealing to tenants. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 64/100

Zoned Schools

Elementary Pecan Park Elementary School B- MS #27/375 Nat'l #7,252/41,679 Middle Ocean Springs Middle School B+ MS #3/179 Nat'l #1,406/14,009 High Ocean Springs High School B+ MS #1/197 Nat'l #2,083/17,239

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

A Composite livability gradescore 86/100

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 · 146,926 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: 12% of renters

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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%

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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%

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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

-65.9% since first listed

2 events — show timeline

• 2026-06-05 Listed $235,000 MLSU
• 2026-02-26 Listed $690,000 MLSU