5012 Old Pass Rd · Gulfport, MS 39501

$85,000

3 bd · 1.5 ba · 1,407 sqft · SingleFamily public records · 8 Days on market

Built 1959 0.48 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom, one and one-half bath on large lot, large back yard, living room and family room. Convenient to Gulfport, Long Beach, entertainment, hospital and short drive or walk to the beach. Great Starter Home!

Key facts

• 0.48 acre lot
• Parking
• Built 1959

Property features AI

Finance

• Other: Lot roughly 0.48 acre (irregular dimensions)

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Single-family house; One level
• Construction: Brick veneer exterior; Pillar/post/pier foundation; Shingle roof; Property listed as fixer
• Exterior features: Front porch; Other exterior features (see remarks)

Interior

• Kitchen: Dishwasher; Oven; Refrigerator
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central heating (natural gas); Wall/window air conditioning units; Electric cooling available
• Interior features: Ceiling fan(s); Crawl space basement
• Laundry & utility: Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 14.9% vs local median 4.9% in Gulfport — 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 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.
• Gulfport School District (urban): math 41% / reading 42% proficiency, ranked #37 of 130 in MS (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+10.5%/yr); 252 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• At $1,450/mo this rent would consume 50% of the median local household income ($35k/yr) (locally 1516% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1959 — 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: 1.71% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.66%
• DSCR: 2.36
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $216,678
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1209 E Old Pass Rd	0.35mi	3/2.0	1,408 (+0%)	1mo	$217,000	$154	81
1601 Lewis Ave	0.25mi	4/2.0 (+1)	1,300 (-8%)	0mo	$145,000	$112	68
401 Holley St	0.43mi	3/2.0	1,540 (+10%)	0mo	$240,000	$156	62
1211 E Old Pass Rd	0.34mi	3/2.0	1,590 (+13%)	1mo	$245,000	$154	60
1704 62nd Ave	0.37mi	3/2.0	1,559 (+11%)	3mo	$129,000	$83	60
1200 7th St	0.42mi	3/2.0	1,595 (+13%)	0mo	$199,500	$125	56
116 Edmund Dr	0.60mi	3/2.0	1,519 (+8%)	3mo	$220,000	$145	55
1005 Finley St	0.60mi	3/2.0	1,520 (+8%)	2mo	$429,000	$282	54
5200 W Beach Blvd	0.61mi	2/2.0 (-1)	1,312 (-7%)	3mo	$550,000	$419	51
828 Woodward Ave	0.62mi	2/1.0 (-1)	1,286 (-9%)	5mo	$217,900	$169	45
121 Edmund Dr	0.62mi	3/2.0	1,600 (+14%)	5mo	$225,000	$141	42
4513 W Railroad St	0.57mi	2/1.0 (-1)	1,586 (+13%)	6mo	$238,800	$151	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 2.37×
• Total profit: $32,609
• Equity at exit: $12,674

10-year hold

• IRR: 40.5%
• Equity multiple: 5.75×
• Total profit: $113,100
• Equity at exit: $7,349

Cash invested: $23,800 (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 39501

• Home prices YoY: -34.5%
• Rents YoY: 10.5%
• Active inventory: 252
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,450 high
• Mortgage (P&I): −$446
• Tax from tax record: −$56 /mo · $672/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $608

Break-even live

Break-even rent $680

Max offer price $85,000

Occupancy floor 53%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1206 Beach Ave Gulfport, MS	3.0	2.0	1076	$1,500	$1.39	13d	1	0.18mi
1412 Jo Ellen Cir Gulfport, MS	3.0	1.5	1275	$1,050	$0.82	13d	1	0.22mi
1129 Woodward Ave Gulfport, MS	3.0	1.0	1719	$1,300	$0.76	13d	1	0.48mi
4409 Ford St Gulfport, MS	2.0	1.0	1000	$1,500	$1.50	43d	1	0.73mi
4319 Lewis St Gulfport, MS	3.0	2.0	1371	$1,649	$1.20	13d	1	0.76mi
1221 42nd Ave Gulfport, MS	3.0	1.0	1000	$1,400	$1.40	43d	1	0.93mi
4115 8th St Gulfport, MS	2.0	2.5	1514	$2,375	$1.57	13d	1	0.95mi
4115 8th St Gulfport, MS	2.0	2.5	1514	$2,375	$1.57	43d	1	0.95mi
3633 Southward Dr Gulfport, MS	2.0	2.0	900	$1,000	$1.11	43d	1	1.28mi

Listing history 7 events

1. 2026-06-18
   days on market $85,000 Active 8 DOM
2. 2026-06-17
   days on market $85,000 Active 7 DOM
3. 2026-06-16
   days on market $85,000 Active 6 DOM
4. 2026-06-15
   days on market $85,000 Active 5 DOM
5. 2026-06-14
   days on market $85,000 Active 3 DOM
6. 2026-06-13
   remarks 473-char remark
7. 2026-06-13
   listed $85,000 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: $672 · $56/mo
• Projected year-2 tax: $672 · $56/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $17,397
• − Mortgage interest: −$4,761
• − Property taxes: −$672
• − Insurance: −$425
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$2,473
• Taxable income: $6,282
• Est. tax owed @ 24.0%: −$1,508
• After-tax cash flow: $5,790/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: Gulfport School District
• NCES district ID: 2801710
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 42% ▼ -6.00%
• Median HH income: $35,712
• Composite: 34.38/100
• National rank: #5213
• State rank: #37 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): 22,565
• Household income: $34,758
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1516.0

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 0.56)
• Race & ethnicity: Black 59% White 29% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Serbian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -110.16%
• Current HPI: 208.998
• Rent YoY: ▲ 10.49%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+21.4% since first listed

6 events — show timeline

• 2026-06-10 Listed $85,000 MLSU
• 2021-09-22 Listing Removed — MLSU
• 2016-10-14 Sold (Public Records) — Public Records
• 2016-10-06 Sold (MLS) — MLSU
• 2015-04-24 Listed $42,900 MLSU
• 2014-09-03 Listed $70,000 MLSU

Property tax history

-6.0%/yr

Latest (2025): $672 · +3.9% YoY. Source: county tax records.