3605 Ganges St · Gulfport, MS 39501

$78,000

3 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 160 Days on market

Built 1960 6,534 sqft lot $77/sqft · 23% below area Est $101k · 23% under

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Why this score? — see what drove the A- 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 +9.9/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity... currently rented for $1,000 per month under lease (that must be honored) until November 2026. 3 bedroom / 1 bath home not far from Hwy 49, the beach, or I-10. Newer floors, electric range, central heat and air, electric water heater. Tenant occupied, please allow 24 hours to view home out of respect for the tenants.

Key facts

• Electric range
• Central heat and air
• Newer floors

Tags

• INVESTMENT OPPORTUNITY
• NEWER FLOORS
• ELECTRIC RANGE
• CENTRAL HEAT AND AIR
• ELECTRIC WATER HEATER

🏷️ Possibly a rental listed for sale. The $78,000 price doesn't fit this home's estimated sale value (~$100,759) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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.
• Harrison County School District (rural): math 52% / reading 46% proficiency, ranked #14 of 130 in MS (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+10.5%/yr); 252 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 5 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

• 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 $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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 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: 1.49% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.47%
• DSCR: 2.04
• GRM: 5.6

CMA / ARV

• ARV (median comp): $100,759
• List price: $78,000
• Delta: -22.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3508 Sabine St	0.06mi	3/2.0	1,020 (+1%)	14mo	$79,900	$78	81
4620 Redstart Dr	0.20mi	3/1.0	1,053 (+4%)	7mo	$95,900	$91	78
3502 Meadowlark Dr	0.29mi	3/1.5	1,100 (+8%)	9mo	$130,000	$118	63
16258 Hudson St	0.35mi	3/2.0	1,030 (+2%)	20mo	$82,500	$80	60
4011 Sierra Dr	0.60mi	3/1.0	1,040 (+3%)	14mo	$95,000	$91	56
3802 Anita Dr	0.38mi	3/2.0	1,134 (+12%)	8mo	$131,000	$116	52
3918 Monterey Dr	0.63mi	3/1.5	1,075 (+6%)	11mo	$102,000	$95	49
3902 Monterey Dr	0.54mi	3/1.5	1,075 (+6%)	17mo	$123,500	$115	49
3820 Monterey Dr	0.46mi	3/2.0	1,134 (+12%)	19mo	$118,000	$104	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: 21.8%
• Equity multiple: 1.95×
• Total profit: $20,698
• Equity at exit: $11,630

10-year hold

• IRR: 32.9%
• Equity multiple: 4.71×
• Total profit: $80,957
• Equity at exit: $6,744

Cash invested: $21,840 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,162 high
• Mortgage (P&I): −$409
• Tax from tax record: −$49 /mo · $590/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $427

Break-even live

Break-even rent $621

Max offer price $78,000

Occupancy floor 58%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4605 Michigan Ave Gulfport, MS	2.0	1.0	700	$850	$1.21	43d	1	0.26mi
4609 Michigan Ave Gulfport, MS	2.0	1.0	800	$825	$1.03	13d	1	0.27mi
3625 Meadowlark Dr Gulfport, MS	3.0	1.0	1315	$1,200	$0.91	13d	1	0.32mi
3712 37th Ave Gulfport, MS	3.0	2.0	1144	$1,175	$1.03	13d	1	0.56mi
3008 50th Ave Gulfport, MS	3.0	2.0	1054	$1,050	$1.00	13d	1	1.38mi
2317 30th St Gulfport, MS	2.0	1.0	1164	$2,150	$1.85	21d	1	1.45mi
3401 54th Ave Gulfport, MS	2.0	1.0	767	$895	$1.17	13d	1	1.47mi

Listing history 25 events

1. 2026-06-18
   days on market $78,000 Active 160 DOM
2. 2026-06-17
   days on market $78,000 Active 159 DOM
3. 2026-06-16
   days on market $78,000 Active 158 DOM
4. 2026-06-15
   days on market $78,000 Active 157 DOM
5. 2026-06-14
   days on market $78,000 Active 155 DOM
6. 2026-06-13
   days on market $78,000 Active 154 DOM
7. 2026-06-10
   days on market $78,000 Active 152 DOM
8. 2026-06-09
   days on market $78,000 Active 151 DOM
9. 2026-06-08
   days on market $78,000 Active 150 DOM
10. 2026-06-07
    days on market $78,000 Active 149 DOM
11. 2026-06-02
    days on market $78,000 Active 144 DOM
12. 2026-06-01
    days on market $78,000 Active 143 DOM
13. 2026-05-31
    days on market $78,000 Active 142 DOM
14. 2026-05-30
    days on market $78,000 Active 141 DOM
15. 2026-01-09
    listed $78,000 Active 349-char remark

    Show marketing remark (349 chars)

    Great investment opportunity... currently rented for $1,000 per month under lease (that must be honored) until November 2026. 3 bedroom / 1 bath home not far from Hwy 49, the beach, or I-10. Newer floors, electric range, central heat and air, electric water heater. Tenant occupied, please allow 24 hours to view home out of respect for the tenants.

16. 2025-12-31
    historical
17. 2025-07-21
    price $79,000
18. 2025-04-05
    status Active
19. 2025-03-18
    historical
20. 2024-10-15
    listed $85,000 Active
21. 2021-10-01
    historical
22. 2015-07-16
    soldstatus
23. 2015-07-15
    soldstatus
24. 2015-06-08
    listed $24,900
25. 2014-07-15
    listed $24,500

ⓘ 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: $590 · $49/mo
• Projected year-2 tax: $616 · $51/mo
• Expected delta: +$27/yr (+$2/mo · 4.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $13,943
• − Mortgage interest: −$4,369
• − Property taxes: −$590
• − Insurance: −$390
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$2,269
• Taxable income: $4,094
• Est. tax owed @ 24.0%: −$983
• After-tax cash flow: $4,144/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: Harrison County School District
• NCES district ID: 2801770
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $46,504
• Composite: 41.66/100
• National rank: #3419
• State rank: #14 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

+218.4% since first listed

11 events — show timeline

• 2026-01-09 Listed $78,000 MLSU
• 2025-12-31 Listing Removed — MLSU
• 2025-07-21 Price Changed $79,000 MLSU
• 2025-04-05 Relisted — MLSU
• 2025-03-18 Listing Removed — MLSU
• 2024-10-15 Listed $85,000 MLSU
• 2021-10-01 Listing Removed — MLSU
• 2015-07-16 Sold (Public Records) — Public Records
• 2015-07-15 Sold (MLS) — MLSU
• 2015-06-08 Listed $24,900 MLSU
• 2014-07-15 Listed $24,500 MLSU

Property tax history

-0.0%/yr

Latest (2025): $590 · +5.6% YoY. Source: county tax records.