6323 W Adams St · Waveland, MS 39520

$99,000

3 bd · 2.0 ba · 1,005 sqft · SingleFamily public records · 1 Days on market

Built 2013 4,791 sqft lot Est $120k · 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• 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

Great starter home or investment property! Located on a corner lot, this 3 bdrm, 2 bath home is ready for its new family.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 2013

Property features AI

Exterior

• Parking: Detached or attached 2-car garage; Driveway with paved surface
• Utilities: Public water; Public sewer; Electricity available and connected; Water and sewer available and connected
• Home design: Single-family residence (house); One story
• Construction: Vinyl exterior; Shingle roof; Pilings/steel/wood foundation; Building area about 1,005 (assessor)
• Exterior features: Corner lot; Lot dimensions approximately 50 x 100

Interior

• Kitchen: Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Move-in ready condition; Refrigerator included
• Laundry & utility: Independent laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $69 ($834/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 12.3% 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: amenities F, commute F, employment D-.
• 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.
• Zoned schools: South Hancock Elementary School (math 34% / reading 32%, grade F, #168 of 375 statewide, top 45%, 535 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 46% district-wide (-12 pts) — the specific schools serving this property underperform the Hancock County School District average; the district grade overstates school quality for this exact location.
• Market conditions: 610 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $684 of loan paydown is wiped out by about $3k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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; major 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 $99,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.48% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.47%
• DSCR: 1.96
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $119,595
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6321 W Adams St	0.01mi	3/2.0	1,005 (0%)	2mo	$99,900	$99	98
6029 W Hinds St	0.57mi	3/2.0	1,000 (-0%)	8mo	$119,000	$119	66
6038 W Adams St	0.56mi	3/2.0	1,086 (+8%)	13mo	$110,000	$101	49
6138 E Desoto St	0.69mi	2/2.0 (-1)	950 (-6%)	16mo	$119,900	$126	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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-11,347
• Equity at exit: $14,761

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-3,086
• Equity at exit: $8,560

Cash invested: $27,720 (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: 610
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$519
• Tax from tax record: −$100 /mo · $1,206/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $69

Break-even live

Break-even rent $1,376

Max offer price $99,000

Occupancy floor 90%

Sensitivity live

Price	-10% $126	-5% $97	+0% $69	+5% $41	+10% $13
Rent	-10% $-46	-5% $12	+0% $69	+5% $127	+10% $185
Rate	-1.0pp $119	-0.5pp $95	base $69	+0.5pp $44	+1.0pp $18

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8016 Lowndes St Bay St Louis, MS	3.0	2.0	1083	$1,250	$1.15	15d	1	0.69mi
6227 E Newton St Bay St Louis, MS	3.0	2.0	1064	$1,450	$1.36	45d	1	0.77mi
6225 E Newton St Bay Saint Louis, MS	3.0	2.0	1064	$1,450	$1.36	12d	1	0.78mi
6095 E Lamar St Bay Saint Louis, MS	3.0	2.0	1392	$1,645	$1.18	45d	1	0.91mi
6004 E Jackson St Bay Saint Louis, MS	3.0	2.0	1329	$1,700	$1.28	45d	1	1.00mi

Listing history 2 events

1. 2026-06-18
   remarks 122-char remark
2. 2026-06-18
   listed $99,000 Pending 1 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: $1,206 · $100/mo
• Projected year-2 tax: $1,206 · $100/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 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $17,573
• − Mortgage interest: −$5,546
• − Property taxes: −$1,206
• − Insurance: −$5,614
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − Depreciation: −$2,880
• Taxable loss: −$483
• Est. tax savings @ 24.0%: +$116
• After-tax cash flow: $950/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

• City population: 6,249
• 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 events — show timeline

• 2026-06-17 Pending — MLSU
• 2026-06-17 Listed $99,000 MLSU

Property tax history

+33.2%/yr

Latest (2025): $1,206 · +0.0% YoY. Source: county tax records.