1029 Joseph Ave · Gulfport, MS 39501

$105,000

2 bd · 1.0 ba · 1,393 sqft · SingleFamily public records · 63 Days on market

Built 1960 8,712 sqft lot $75/sqft · 21% below area Est $135k · 22% 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 +8.5/10.0
• 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

Attention Investors, located in the heart of Gulfport, near Memorial Hospital, Island View, Downtown, and beaches! Presently under lease until at $1300 per month. Lease must be honored and please allow 24 hours notice to show. Part of a portfolio of 4 homes for which the seller would entertain a package deal. Don't let this one get away!

Key facts

• 8,712 sq ft lot
• Built 1960
• Listed 63 days

🏷️ Possibly a rental listed for sale. The $105,000 price doesn't fit this home's estimated sale value (~$135,111) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $1,423/mo this rent would consume 49% 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 $726 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 $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 7 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

• 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 $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 1.35% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.33%
• DSCR: 1.82
• GRM: 6.2

CMA / ARV

• ARV (median comp): $135,111
• List price: $105,000
• Delta: -22.29%
• 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
828 Woodward Ave	0.32mi	2/1.0	1,286 (-8%)	5mo	$217,900	$169	68
5200 W Beach Blvd	0.43mi	2/2.0	1,312 (-6%)	3mo	$550,000	$419	63
1209 E Old Pass Rd	0.60mi	3/2.0 (+1)	1,408 (+1%)	1mo	$217,000	$154	61
4340 Betts Cir	0.49mi	3/1.5 (+1)	1,305 (-6%)	2mo	$129,900	$100	58
430 Woodward Ave	0.52mi	3/2.0 (+1)	1,510 (+8%)	1mo	$479,900	$318	52
521 Woodward Ave	0.48mi	3/2.0 (+1)	1,504 (+8%)	5mo	$449,999	$299	51
1005 Finley St	0.50mi	3/2.0 (+1)	1,520 (+9%)	2mo	$429,000	$282	50
4114 Central St	0.69mi	3/2.0 (+1)	1,310 (-6%)	2mo	$354,000	$270	47
401 Holley St	0.71mi	3/2.0 (+1)	1,540 (+11%)	1mo	$240,000	$156	40
1211 E Old Pass Rd	0.58mi	3/2.0 (+1)	1,590 (+14%)	1mo	$245,000	$154	40
1200 7th St	0.63mi	3/2.0 (+1)	1,595 (+14%)	0mo	$199,500	$125	37
1704 62nd Ave	0.69mi	3/2.0 (+1)	1,559 (+12%)	3mo	$129,000	$83	36

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: 15.3%
• Equity multiple: 1.65×
• Total profit: $19,092
• Equity at exit: $15,656

10-year hold

• IRR: 27.3%
• Equity multiple: 3.98×
• Total profit: $87,630
• Equity at exit: $9,078

Cash invested: $29,400 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,423 high
• Mortgage (P&I): −$551
• Tax from tax record: −$81 /mo · $967/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $449

Break-even live

Break-even rent $854

Max offer price $105,000

Occupancy floor 63%

Sensitivity live

Price	-10% $508	-5% $479	+0% $449	+5% $419	+10% $390
Rent	-10% $337	-5% $393	+0% $449	+5% $505	+10% $561
Rate	-1.0pp $502	-0.5pp $476	base $449	+0.5pp $422	+1.0pp $394

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1206 Beach Ave Gulfport, MS	3.0	2.0	1076	$1,500	$1.39	15d	1	0.10mi
1129 Woodward Ave Gulfport, MS	3.0	1.0	1719	$1,300	$0.76	15d	1	0.28mi
1412 Jo Ellen Cir Gulfport, MS	3.0	1.5	1275	$1,050	$0.82	15d	1	0.32mi
4409 Ford St Gulfport, MS	2.0	1.0	1000	$1,500	$1.50	45d	1	0.47mi
4319 Lewis St Gulfport, MS	3.0	2.0	1371	$1,649	$1.20	15d	1	0.50mi
4115 8th St Gulfport, MS	2.0	2.5	1514	$2,375	$1.57	45d	1	0.70mi
4115 8th St Gulfport, MS	2.0	2.5	1514	$2,375	$1.57	15d	1	0.70mi
1221 42nd Ave Gulfport, MS	3.0	1.0	1000	$1,400	$1.40	45d	1	0.75mi
3633 Southward Dr Gulfport, MS	2.0	2.0	900	$1,000	$1.11	45d	1	1.11mi
3305 12th St Gulfport, MS	2.0	1.5	1100	$1,295	$1.18	45d	1	1.29mi
1513 34th Ave Gulfport, MS	2.0	2.0	884	$1,250	$1.41	45d	1	1.33mi
1106 32nd Ave Gulfport, MS	3.0	2.0	1200	$1,300	$1.08	45d	1	1.40mi

Listing history 34 events

1. 2026-06-18
   remarks 349-char remark
2. 2026-06-18
   days on market $105,000 Active 63 DOM
3. 2026-06-17
   days on market $105,000 Active 62 DOM
4. 2026-06-16
   days on market $105,000 Active 61 DOM
5. 2026-06-15
   days on market $105,000 Active 60 DOM
6. 2026-06-14
   days on market $105,000 Active 58 DOM
7. 2026-06-13
   days on market $105,000 Active 57 DOM
8. 2026-06-10
   days on market $105,000 Active 55 DOM
9. 2026-06-09
   days on market $105,000 Active 54 DOM
10. 2026-06-08
    days on market $105,000 Active 53 DOM
11. 2026-06-07
    days on market $105,000 Active 52 DOM
12. 2026-06-05
    days on market $105,000 Active 49 DOM
13. 2026-06-02
    days on market $105,000 Active 47 DOM
14. 2026-06-01
    days on market $105,000 Active 46 DOM
15. 2026-05-31
    days on market $105,000 Active 45 DOM
16. 2026-05-30
    days on market $105,000 Active 44 DOM
17. 2026-04-22
    status Active 340-char remark

    Show marketing remark (340 chars)

    Attention Investors, located in the heart of Gulfport, near Memorial Hospital, Island View, Downtown, and beaches! Presently under lease until at $1300 per month. Lease must be honored and please allow 24 hours notice to show. Part of a portfolio of 4 homes for which the seller would entertain a package deal. Don't let this one get away!

18. 2026-04-01
    status Pending 340-char remark

    Show marketing remark (340 chars)

    Attention Investors, located in the heart of Gulfport, near Memorial Hospital, Island View, Downtown, and beaches! Presently under lease until at $1300 per month. Lease must be honored and please allow 24 hours notice to show. Part of a portfolio of 4 homes for which the seller would entertain a package deal. Don't let this one get away!

19. 2026-03-25
    listed $105,000 Active 340-char remark

    Show marketing remark (340 chars)

    Attention Investors, located in the heart of Gulfport, near Memorial Hospital, Island View, Downtown, and beaches! Presently under lease until at $1300 per month. Lease must be honored and please allow 24 hours notice to show. Part of a portfolio of 4 homes for which the seller would entertain a package deal. Don't let this one get away!

20. 2024-11-26
    historical
21. 2024-10-24
    price $99,999
22. 2024-05-25
    listed $135,000 Active
23. 2023-05-05
    soldstatus
24. 2023-04-28
    price $193,812
25. 2023-04-28
    status Pending
26. 2023-04-27
    soldstatus Closed
27. 2023-04-24
    status Active
28. 2023-03-16
    status Pending
29. 2023-03-01
    status Active
30. 2022-09-27
    status Pending
31. 2022-09-22
    historical
32. 2022-09-20
    listed $619,149 Active
33. 2022-09-20
    listed $619,149 Active
34. 2017-02-27
    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: $967 · $81/mo
• Projected year-2 tax: $967 · $81/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $17,073
• − Mortgage interest: −$5,882
• − Property taxes: −$967
• − Insurance: −$525
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$3,055
• Taxable income: $3,913
• Est. tax owed @ 24.0%: −$939
• After-tax cash flow: $4,449/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

-83.0% since first listed

18 events — show timeline

• 2026-04-22 Relisted — MLSU
• 2026-04-01 Pending — MLSU
• 2026-03-25 Listed $105,000 MLSU
• 2024-11-26 Listing Removed — MLSU
• 2024-10-24 Price Changed $99,999 MLSU
• 2024-05-25 Listed $135,000 MLSU
• 2023-05-05 Sold (Public Records) — Public Records
• 2023-04-28 Price Changed $193,812 MLSU
• 2023-04-28 Pending — MLSU
• 2023-04-27 Sold (MLS) — MLSU
• 2023-04-24 Relisted — MLSU
• 2023-03-16 Pending — MLSU
• 2023-03-01 Relisted — MLSU
• 2022-09-27 Pending — MLSU
• 2022-09-22 Listing Removed — MLSU
• 2022-09-20 Listed $619,149 MLSU
• 2022-09-20 Listed $619,149 MLSU
• 2017-02-27 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $967 · +4.7% YoY. Source: county tax records.