3230 Cumberland Rd #42 · Ocean Springs, MS 39564

$113,900

2 bd · 1.5 ba · 1,050 sqft · Condo · 211 Days on market

Built 1972 Good condition $108/sqft · 16% below area Est $136k · 16% under $571/mo HOA · 32% 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).

• Cash flow +16.3/30.0
• ARV discount +14.9/15.0
• 1% rule +10.0/10.0
• Schools +6.3/10.0
• DSCR +5.0/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to affordable condo living in one of the Mississippi Gulf Coast's most sought-after beach towns—Ocean Springs. This well-maintained and updated condominium offers approximately 1,050 heated and cooled square feet and is filled with abundant natural light throughout. The main level features a welcoming dining area, a functional galley-style kitchen, and a convenient half bath for guests. The rear of the first floor opens into a spacious living room with sliding glass doors leading to a covered patio that overlooks the courtyard, community swimming pool, and clubhouse—perfect for relaxing or entertaining. Upstairs, you'll find two generously sized bedrooms, a full bathroom, and a laundry closet. The primary bedroom also features its own private covered balcony, providing a peaceful retreat. HOA dues include water and sewer, exterior insurance, lawn care, exterior maintenance, and additional amenities. The community offers an impressive array of features, including a swimming pool with restrooms and showers, clubhouse, fitness center, tennis and pickleball courts, horseshoe pits, barbecue grills, picnic areas, boat launch, boat storage, and fishing access. Ideally located within the golf cart district, this property provides easy access to downtown Ocean Springs, where you can enjoy festivals, beaches, shopping, dining, and vibrant day and nighttime entertainment.

Key facts

• $571 HOA
• Community pool
• Built 1972

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $114k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $62 ($750/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 4.3% 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: Oak Park Elementary School (math 67% / reading 57%, grade B, #18 of 375 statewide, top 5%, 498 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); 892 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $787 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $100,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.58% ✓
• Cap rate: 6.95%
• Cash-on-cash: 2.35%
• DSCR: 1.10
• GRM: 5.3

CMA / ARV

• ARV (median comp): $136,264
• List price: $113,900
• Delta: -16.41%
• 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
3230 Cumberland Rd #7	0.08mi	2/1.5	941 (-10%)	2mo	$117,000	$124	78
3230 Cumberland Rd #78	0.08mi	3/2.0 (+1)	1,136 (+8%)	3mo	$132,000	$116	73
205 Barbara Cir	1.32mi	3/1.5 (+1)	1,049 (-0%)	0mo	$186,500	$178	59
2501 Bienville Blvd #416	0.90mi	2/2.0	1,095 (+4%)	3mo	$285,000	$260	54
309 Teringo Cir	1.47mi	3/1.0 (+1)	1,020 (-3%)	2mo	$219,900	$216	52
148 Lafayette Cir	0.94mi	3/1.0 (+1)	1,092 (+4%)	0mo	$223,000	$204	51
232 Woodland Cir	1.42mi	3/1.5 (+1)	1,120 (+7%)	2mo	$170,000	$152	47
201 Walnut Dr	1.08mi	3/1.5 (+1)	1,130 (+8%)	2mo	$279,000	$247	46
2501 Bienville Blvd #531	0.91mi	2/2.0	1,156 (+10%)	3mo	$254,500	$220	44
315 Poplar Dr	1.07mi	3/1.0 (+1)	962 (-8%)	2mo	$220,000	$229	42
11536 Bayou Pl	1.48mi	3/2.0 (+1)	1,256 (+20%)	3mo	$210,000	$167	31
2501 Bienville Blvd #413	0.81mi	1/1.0 (-1)	855 (-19%)	4mo	$220,000	$257	30

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.46×
• Total profit: $-17,107
• Equity at exit: $16,983

10-year hold

• IRR: -12.0%
• Equity multiple: 0.37×
• Total profit: $-20,164
• Equity at exit: $9,848

Cash invested: $31,892 (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 →

Active competition Active MLS

• For sale now: 2 active
• Median asking: $219,500 ($218/sqft)
• Median days on market: 109 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -40.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 39564

• Home prices YoY: -26.8%
• Rents YoY: 1.3%
• Active inventory: 892
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,798 high
• Mortgage (P&I): −$597
• Tax est. 1.5%: −$142 /mo · $1,708/yr
• Insurance: −$47
• HOA: −$571
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $62

Break-even live

Break-even rent $1,719

Max offer price $113,900

Occupancy floor 92%

Sensitivity live

Price	-10% $141	-5% $102	+0% $62	+5% $23	+10% $-16
Rent	-10% $-80	-5% $-9	+0% $62	+5% $134	+10% $205
Rate	-1.0pp $120	-0.5pp $91	base $62	+0.5pp $33	+1.0pp $3

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: $28,475
• Closing costs: $3,417
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 Bienville Blvd Unit 432 Ocean Springs, MS	2.0	2.0	1095	$2,300	$2.10	93d	1	0.79mi
2501 Bienville Blvd Ocean Springs, MS	2.0	2.0	1156	$2,000	$1.73	93d	1	0.88mi
2501 Bienville Blvd Ocean Springs, MS	1.0	1.0	855	$1,900	$2.22	62d	1	0.88mi
3500 Groveland Rd Ocean Springs, MS	2.0–3.0	2.0	1173	$1,350	$1.15	62d	1	0.93mi
212 Maple Dr Ocean Springs, MS	3.0	1.5	1092	$1,475	$1.35	62d	1	1.03mi
623 Camellia Pointe Blvd Ocean Springs, MS	2.0	2.0	1333	$2,200	$1.65	93d	1	1.15mi
230 Saratoga Dr Ocean Springs, MS	3.0	2.0	1450	$1,800	$1.24	93d	1	1.28mi
230 Saratoga Dr Ocean Springs, MS	3.0	2.0	1380	$1,850	$1.34	62d	1	1.28mi
422 Whispering Pine Dr Ocean Springs, MS	3.0	2.0	1075	$1,795	$1.67	62d	1	1.28mi
600 Bechtel Blvd Ocean Springs, MS	2.0	2.0	944	$1,500	$1.59	62d	1	1.29mi
237 Saratoga Dr Ocean Springs, MS	3.0	2.0	1295	$2,150	$1.66	62d	1	1.31mi
246 Woodland Cir Ocean Springs, MS	3.0	1.0	984	$1,475	$1.50	93d	1	1.36mi

HOA detail $571/mo · $6,852/yr condo

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

Listing history 50 events

1. 2026-08-08
   days on market $113,900 Active 211 DOM
2. 2026-08-07
   days on market $113,900 Active 210 DOM
3. 2026-08-06
   days on market $113,900 Active 209 DOM
4. 2026-08-05
   days on market $113,900 Active 208 DOM
5. 2026-08-04
   days on market $113,900 Active 207 DOM
6. 2026-08-03
   days on market $113,900 Active 206 DOM
7. 2026-07-31
   days on market $113,900 Active 203 DOM
8. 2026-07-29
   days on market $113,900 Active 201 DOM
9. 2026-07-27
   days on market $113,900 Active 199 DOM
10. 2026-07-25
    days on market $113,900 Active 197 DOM
11. 2026-07-23
    days on market $113,900 Active 195 DOM
12. 2026-07-22
    days on market $113,900 Active 194 DOM
13. 2026-07-21
    days on market $113,900 Active 193 DOM
14. 2026-07-18
    days on market $113,900 Active 190 DOM
15. 2026-07-16
    days on market $113,900 Active 188 DOM
16. 2026-07-16
    days on market $113,900 Active 187 DOM
17. 2026-07-14
    days on market $113,900 Active 186 DOM
18. 2026-07-13
    days on market $113,900 Active 185 DOM
19. 2026-07-12
    days on market $113,900 Active 184 DOM
20. 2026-07-11
    days on market $113,900 Active 183 DOM
21. 2026-07-10
    days on market $113,900 Active 182 DOM
22. 2026-07-08
    days on market $113,900 Active 181 DOM
23. 2026-07-07
    days on market $113,900 Active 180 DOM
24. 2026-07-06
    days on market $113,900 Active 179 DOM
25. 2026-07-05
    days on market $113,900 Active 178 DOM
26. 2026-07-04
    days on market $113,900 Active 177 DOM
27. 2026-07-03
    days on market $113,900 Active 176 DOM
28. 2026-07-02
    days on market $113,900 Active 175 DOM
29. 2026-07-01
    days on market $113,900 Active 174 DOM
30. 2026-06-30
    days on market $113,900 Active 173 DOM
31. 2026-06-29
    days on market $113,900 Active 172 DOM
32. 2026-06-28
    days on market $113,900 Active 171 DOM
33. 2026-06-28
    days on market $113,900 Active 170 DOM
34. 2026-06-27
    days on market $113,900 Active 169 DOM
35. 2026-06-25
    days on market $113,900 Active 167 DOM
36. 2026-06-23
    days on market $113,900 Active 165 DOM
37. 2026-06-21
    days on market $113,900 Active 164 DOM
38. 2026-06-18
    days on market $113,900 Active 161 DOM
39. 2026-06-17
    days on market $113,900 Active 160 DOM
40. 2026-06-16
    days on market $113,900 Active 159 DOM
41. 2026-06-15
    price $113,900 Active 158 DOM
42. 2026-06-15
    days on market $125,000 Active 158 DOM
43. 2026-06-14
    days on market $125,000 Active 156 DOM
44. 2026-06-13
    days on market $125,000 Active 155 DOM
45. 2026-06-10
    days on market $125,000 Active 153 DOM
46. 2026-06-09
    days on market $125,000 Active 152 DOM
47. 2026-06-08
    days on market $125,000 Active 151 DOM
48. 2026-06-07
    days on market $125,000 Active 150 DOM
49. 2026-06-02
    days on market $125,000 Active 145 DOM
50. 2026-06-01
    days on market $125,000 Active 144 DOM

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

Taxation est. · year 1

• Rental income: $21,579
• − Mortgage interest: −$6,380
• − Property taxes: −$1,708
• − Insurance: −$570
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − HOA: −$6,852
• − Depreciation: −$3,313
• Taxable loss: −$697
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $917/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $5,250–$15,750 screening

This well-maintained and updated condo is move-in ready with a good condition score and minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Modernizes spaces and improves functionality ↑

ⓘ 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 63/100

Zoned Schools

Elementary Oak Park Elementary School B MS #18/375 Nat'l #6,217/41,679 Middle Ocean Springs Upper Elementary Scho B MS #12/179 Nat'l #2,146/14,009 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

+8.7% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $125,000 MLSU
• 2026-02-27 Price Changed $128,000 MLSU
• 2026-01-08 Listed $129,500 MLSU
• 2025-07-03 Sold (MLS) — MLSU
• 2025-06-16 Pending — MLSU
• 2025-05-11 Price Changed $105,000 MLSU
• 2025-05-11 Relisted — MLSU
• 2025-04-14 Contingent — MLSU
• 2025-04-10 Price Changed $109,900 MLSU
• 2025-03-22 Listed $115,000 MLSU