1519 Stewart Ave · Gulfport, MS 39501

$49,000

3 bd · 1.0 ba · 1,554 sqft · SingleFamily public records · 114 Days on market

Built 1935 5,227 sqft lot $32/sqft · 62% below area

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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

Solid Investment Opportunity - Vacant Home With Great Bones This vacant property offers strong structural bones and a true blank slate for your next project. Whether you're looking to renovate for resale, build rental income, or customize a personal home, this one provides the foundation to make it happen. The layout is functional, the structure is solid, and the home is ready for your vision. Property is being sold as‑is, where‑is. No repairs will be made by the seller.

Key facts

• Functional layout
• Solid structure
• 5,227 sq ft lot

Tags

• STRONG STRUCTURAL BONES
• FUNCTIONAL LAYOUT
• SOLID STRUCTURE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 26.4% 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 at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• At $1,496/mo this rent would consume 52% 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 $339 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 1935 — 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 $44,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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. 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. 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.
7. 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.
8. 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: 3.05% ✓
• Cap rate: 26.41%
• Cash-on-cash: 71.86%
• DSCR: 4.20
• GRM: 2.7

CMA / ARV

• ARV (median comp): $129,242
• List price: $49,000
• Delta: -62.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 62nd Ave	0.24mi	3/2.0	1,559 (+0%)	3mo	$129,000	$83	82
401 Holley St	0.43mi	3/2.0	1,540 (-1%)	0mo	$240,000	$156	74
1211 E Old Pass Rd	0.42mi	3/2.0	1,590 (+2%)	1mo	$245,000	$154	72
1200 7th St	0.53mi	3/2.0	1,595 (+3%)	0mo	$199,500	$125	67
1209 E Old Pass Rd	0.43mi	3/2.0	1,408 (-9%)	1mo	$217,000	$154	60
116 Edmund Dr	0.70mi	3/2.0	1,519 (-2%)	3mo	$220,000	$145	57
451 Pinecrest Cir	0.69mi	3/2.0	1,581 (+2%)	7mo	$245,000	$155	55
121 Edmund Dr	0.71mi	3/2.0	1,600 (+3%)	5mo	$225,000	$141	54
4513 W Railroad St	0.75mi	2/1.0 (-1)	1,586 (+2%)	6mo	$238,800	$151	52
1920 49th Ave	0.72mi	3/1.0	1,421 (-9%)	4mo	$115,000	$81	48
709 Rich Ave	0.69mi	4/2.0 (+1)	1,661 (+7%)	1mo	$249,000	$150	46
808 Mills Ave	0.74mi	2/2.0 (-1)	1,678 (+8%)	5mo	$215,000	$128	39

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: 77.2%
• Equity multiple: 4.81×
• Total profit: $52,332
• Equity at exit: $7,306

10-year hold

• IRR: 82.2%
• Equity multiple: 11.87×
• Total profit: $149,080
• Equity at exit: $4,237

Cash invested: $13,720 (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 39501

• Home prices YoY: -34.5%
• Rents YoY: 10.5%
• Active inventory: 252
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,496 high
• Mortgage (P&I): −$257
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $822

Break-even live

Break-even rent $456

Max offer price $49,000

Occupancy floor 40%

Sensitivity live

Price	-10% $849	-5% $836	+0% $822	+5% $808	+10% $794
Rent	-10% $703	-5% $763	+0% $822	+5% $881	+10% $940
Rate	-1.0pp $846	-0.5pp $834	base $822	+0.5pp $809	+1.0pp $796

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1412 Jo Ellen Cir Gulfport, MS	3.0	1.5	1275	$1,050	$0.82	14d	1	0.26mi
1206 Beach Ave Gulfport, MS	3.0	2.0	1076	$1,500	$1.39	14d	1	0.40mi
1129 Woodward Ave Gulfport, MS	3.0	1.0	1719	$1,300	$0.76	14d	1	0.63mi
945 Finley St Long Beach, MS	3.0	2.0	2080	$2,200	$1.06	14d	1	0.81mi
4319 Lewis St Gulfport, MS	3.0	2.0	1371	$1,649	$1.20	14d	1	0.95mi
4115 8th St Gulfport, MS	2.0	2.5	1514	$2,375	$1.57	14d	1	1.12mi
4115 8th St Gulfport, MS	2.0	2.5	1514	$2,375	$1.57	44d	1	1.12mi
2986 58th Ave Gulfport, MS	3.0	2.0	1153	$1,295	$1.12	14d	1	1.31mi
3008 50th Ave Gulfport, MS	3.0	2.0	1054	$1,050	$1.00	14d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $49,000 Active 114 DOM
2. 2026-06-17
   days on market $49,000 Active 113 DOM
3. 2026-06-16
   days on market $49,000 Active 112 DOM
4. 2026-06-15
   days on market $49,000 Active 111 DOM
5. 2026-06-14
   days on market $49,000 Active 109 DOM
6. 2026-06-13
   days on market $49,000 Active 108 DOM
7. 2026-06-10
   days on market $49,000 Active 106 DOM
8. 2026-06-09
   days on market $49,000 Active 105 DOM
9. 2026-06-08
   days on market $49,000 Active 104 DOM
10. 2026-06-07
    days on market $49,000 Active 103 DOM
11. 2026-06-05
    days on market $49,000 Active 100 DOM
12. 2026-06-02
    days on market $49,000 Active 98 DOM
13. 2026-06-01
    days on market $49,000 Active 97 DOM
14. 2026-05-31
    days on market $49,000 Active 96 DOM
15. 2026-05-30
    days on market $49,000 Active 95 DOM
16. 2026-03-16
    status Active 477-char remark

    Show marketing remark (477 chars)

    Solid Investment Opportunity - Vacant Home With Great Bones This vacant property offers strong structural bones and a true blank slate for your next project. Whether you're looking to renovate for resale, build rental income, or customize a personal home, this one provides the foundation to make it happen. The layout is functional, the structure is solid, and the home is ready for your vision. Property is being sold as‑is, where‑is. No repairs will be made by the seller.

17. 2026-02-18
    status Pending 477-char remark

    Show marketing remark (477 chars)

    Solid Investment Opportunity - Vacant Home With Great Bones This vacant property offers strong structural bones and a true blank slate for your next project. Whether you're looking to renovate for resale, build rental income, or customize a personal home, this one provides the foundation to make it happen. The layout is functional, the structure is solid, and the home is ready for your vision. Property is being sold as‑is, where‑is. No repairs will be made by the seller.

18. 2026-01-29
    listed $49,000 Active 477-char remark

    Show marketing remark (477 chars)

    Solid Investment Opportunity - Vacant Home With Great Bones This vacant property offers strong structural bones and a true blank slate for your next project. Whether you're looking to renovate for resale, build rental income, or customize a personal home, this one provides the foundation to make it happen. The layout is functional, the structure is solid, and the home is ready for your vision. Property is being sold as‑is, where‑is. No repairs will be made by the seller.

19. 2011-02-10
    soldstatus
20. 2009-09-04
    soldstatus
21. 2009-09-02
    soldstatus 85-char remark

    Show marketing remark (85 chars)

    Older home in need of alot of repairs. Value is in the land. SPECIAL ADDENDUMS APPLY.

22. 2009-07-17
    listed $12,500 85-char remark

    Show marketing remark (85 chars)

    Older home in need of alot of repairs. Value is in the land. SPECIAL ADDENDUMS APPLY.

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $993 · $83/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $17,951
• − Mortgage interest: −$2,745
• − Property taxes: −$993
• − Insurance: −$245
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − Depreciation: −$1,425
• Taxable income: $9,670
• Est. tax owed @ 24.0%: −$2,321
• After-tax cash flow: $7,539/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

+292.0% since first listed

7 events — show timeline

• 2026-03-16 Relisted — MLSU
• 2026-02-18 Pending — MLSU
• 2026-01-29 Listed $49,000 MLSU
• 2011-02-10 Sold (Public Records) — Public Records
• 2009-09-04 Sold (Public Records) — Public Records
• 2009-09-02 Sold (MLS) — MLSU
• 2009-07-17 Listed $12,500 MLSU

Property tax history

+1.3%/yr

Latest (2025): $993 · +4.2% YoY. Source: county tax records.