10149 River Dr · Waveland, MS 39520

$100,000

3 bd · 2.0 ba · 1,550 sqft · SingleFamily public records · 113 Days on market

Built 1978 0.32 ac lot $65/sqft · 61% below area ↓ 13% since listing

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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
• 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 MLS

This is the waterfront opportunity you have been waiting for. Fish from your own backyard, launch your boat with ease, and enjoy everyday life surrounded by peaceful water views. Located at 10149 River Drive in Bay Saint Louis, this property offers 120 feet of waterfront frontage, a new roof, and a prime location just minutes from Downtown Bay Saint Louis, local restaurants, shops, and the beach, with convenient access to I 10 and US 90. Here, mornings can begin with coffee overlooking the water and evenings can end with sunset views after a day spent fishing or out on the boat. Tucked away in a quiet setting just outside of town, this home offers the privacy of coastal living while still being close to everything that makes Bay Saint Louis so desirable. Per public records, the home offers approximately 1,550 square feet of living space, featuring a spacious main living area filled with natural light and flexible layout possibilities. It presents an exceptional renovation opportunity for buyers ready to bring their vision to life while building equity and creating a personalized waterfront retreat. Situated on a 0.33 acre homesite, the property provides space to relax, entertain, and truly enjoy the outdoors. Enjoy water views, fish right from your property, and take advantage of the boat ramp for easy access to the water, along with a large driveway pad offering plenty of room for vehicles, boats, or gatherings with friends and family. Conveniently located approximately 25 to 30 minutes from Stennis Space Center and 40 to 45 minutes from NCBC Gulfport, this home is ideal for anyone looking to create a custom waterfront lifestyle in a peaceful Bay Saint Louis location. Showings are available by appointment only. Please do not walk the property without a scheduled showing.

Key facts

• Water views
• Prime location
• Boat ramp access

Tags

• WATERFRONT OPPORTUNITY
• FISHING FROM BACKYARD
• BOAT RAMP ACCESS
• WATER VIEWS
• NEW ROOF
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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: schools F, amenities F, commute F.
• 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.
• Market conditions: 601 active listings in the ZIP; 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 $691 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

• It's been on market 113 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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: 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.58% ✓
• Cap rate: 13.61%
• Cash-on-cash: 26.12%
• DSCR: 2.16
• GRM: 5.3

CMA / ARV

• ARV (median comp): $254,802
• List price: $100,000
• Delta: -60.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5033 Glenn St	0.34mi	3/2.0	1,560 (+1%)	21mo	$290,000	$186	65
5142 1st Ave	0.60mi	3/1.5	1,600 (+3%)	6mo	$204,500	$128	60
5095 Kament St	0.64mi	2/1.0 (-1)	1,466 (-5%)	12mo	$159,000	$108	42

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-4,298
• Equity at exit: $14,910

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $12,296
• Equity at exit: $8,646

Cash invested: $28,000 (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: 601
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,582 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$74 /mo · $888/yr
• Insurance: −$42
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $183

Break-even live

Break-even rent $1,350

Max offer price $100,000

Occupancy floor 83%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $100,000 Active 113 DOM
2. 2026-06-17
   days on market $100,000 Active 112 DOM
3. 2026-06-16
   days on market $100,000 Active 111 DOM
4. 2026-06-15
   days on market $100,000 Active 110 DOM
5. 2026-06-14
   days on market $100,000 Active 108 DOM
6. 2026-06-13
   days on market $100,000 Active 107 DOM
7. 2026-06-10
   days on market $100,000 Active 105 DOM
8. 2026-06-09
   days on market $100,000 Active 104 DOM
9. 2026-06-08
   days on market $100,000 Active 103 DOM
10. 2026-06-07
    days on market $100,000 Active 102 DOM
11. 2026-06-05
    days on market $100,000 Active 99 DOM
12. 2026-06-03
    days on market $100,000 Active 98 DOM
13. 2026-06-02
    days on market $100,000 Active 97 DOM
14. 2026-06-01
    days on market $100,000 Active 96 DOM
15. 2026-05-31
    days on market $100,000 Active 95 DOM
16. 2026-05-30
    days on market $100,000 Active 94 DOM
17. 2026-02-25
    listed $100,000 Active 1817-char remark

    Show marketing remark (1817 chars)

    This is the waterfront opportunity you have been waiting for. Fish from your own backyard, launch your boat with ease, and enjoy everyday life surrounded by peaceful water views. Located at 10149 River Drive in Bay Saint Louis, this property offers 120 feet of waterfront frontage, a new roof, and a prime location just minutes from Downtown Bay Saint Louis, local restaurants, shops, and the beach, with convenient access to I 10 and US 90. Here, mornings can begin with coffee overlooking the water and evenings can end with sunset views after a day spent fishing or out on the boat. Tucked away in a quiet setting just outside of town, this home offers the privacy of coastal living while still being close to everything that makes Bay Saint Louis so desirable. Per public records, the home offers approximately 1,550 square feet of living space, featuring a spacious main living area filled with natural light and flexible layout possibilities. It presents an exceptional renovation opportunity for buyers ready to bring their vision to life while building equity and creating a personalized waterfront retreat. Situated on a 0.33 acre homesite, the property provides space to relax, entertain, and truly enjoy the outdoors. Enjoy water views, fish right from your property, and take advantage of the boat ramp for easy access to the water, along with a large driveway pad offering plenty of room for vehicles, boats, or gatherings with friends and family. Conveniently located approximately 25 to 30 minutes from Stennis Space Center and 40 to 45 minutes from NCBC Gulfport, this home is ideal for anyone looking to create a custom waterfront lifestyle in a peaceful Bay Saint Louis location. Showings are available by appointment only. Please do not walk the property without a scheduled showing.

18. 2023-10-11
    historical
19. 2022-12-08
    status Active
20. 2022-10-28
    historical
21. 2022-10-28
    status Pending
22. 2022-10-11
    listed $115,000 Active
23. 2002-01-11
    soldstatus

ⓘ 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: $888 · $74/mo
• Projected year-2 tax: $888 · $74/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $18,981
• − Mortgage interest: −$5,602
• − Property taxes: −$888
• − Insurance: −$5,618
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$2,909
• Taxable income: $927
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $1,973/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

• Census place: Waveland, MS
• 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

-13.0% since first listed

7 events — show timeline

• 2026-02-25 Listed $100,000 MLSU
• 2023-10-11 Listing Removed — MLSU
• 2022-12-08 Relisted — MLSU
• 2022-10-28 Listing Removed — MLSU
• 2022-10-28 Pending — MLSU
• 2022-10-11 Listed $115,000 MLSU
• 2002-01-11 Sold (Public Records) — Public Records

Property tax history

+7.9%/yr

Latest (2025): $888 · +0.8% YoY. Source: county tax records.