3230 Cumberland Rd #55 · Ocean Springs, MS 39564

$115,000

1 bd · 2.0 ba · 756 sqft · Condo public records · 184 Days on market

Built 1972 $152/sqft · at area comps Est $137k · 16% under $487/mo HOA · 29% 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 +18.2/30.0
• ARV discount +14.8/15.0
• 1% rule +9.6/10.0
• DSCR +5.7/10.0
• Schools +5.3/10.0
• Livability +4.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PHOTOS to show recent TLC!! This one comes with a BOAT SLIP with a LIFT. Experience costal condo living in this 1 bedroom, 1.5 bath unit at Oak Glen Marina Condominiums. Enjoy a bright functional layout with natural light and serene marina and pool side views; an array of community amenities including a swimming pool, bayou fishing pier, boat launch, boat slip with lift, tennis/pickleball courts, fitness room, and clubhouse with full kitchen. Clubhouse can be reserved for owner events. HOA provides lawn care, exterior building maintenance and insurance, professional management, accounting services, termite and pest control, trash pickup and water. Makes for stress free ownership. Located minutes from downtown Ocean Springs, residents enjoy Gulf Coast beaches, arts and festivals, and exceptional seafood dining. With easy access to parks, boutique shopping, entertainment district, and is golf cart accessible. Perfect as a primary residence, second home, or investment property. Contact your realtor today!!

Key facts

• Coastal condo living
• Bayou fishing pier
• Community amenities

Tags

• COASTAL CONDO LIVING
• COMMUNITY AMENITIES
• SWIMMING POOL
• BAYOU FISHING PIER
• BOAT LAUNCH
• BOAT SLIP WITH LIFT

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $37 ($441/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.2% 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.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask has dropped $14k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• Climate carrying-cost: severe flood risk; 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.46% ✓
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 5.7

CMA / ARV

• ARV (median comp): $137,124
• List price: $115,000
• Delta: -16.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.42×
• Total profit: $-18,779
• Equity at exit: $17,147

10-year hold

• IRR: -14.0%
• Equity multiple: 0.28×
• Total profit: $-23,156
• Equity at exit: $9,943

Cash invested: $32,200 (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 39564

• Home prices YoY: -26.8%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$487
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $37

Break-even live

Break-even rent $1,636

Max offer price $115,000

Occupancy floor 93%

Sensitivity live

Price	-10% $102	-5% $69	+0% $37	+5% $4	+10% $-28
Rent	-10% $-96	-5% $-30	+0% $37	+5% $103	+10% $170
Rate	-1.0pp $95	-0.5pp $66	base $37	+0.5pp $7	+1.0pp $-23

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	44d	1	0.77mi
2501 Bienville Blvd Ocean Springs, MS	1.0	1.0	855	$1,900	$2.22	14d	1	0.85mi
3500 Groveland Rd Ocean Springs, MS	2.0–3.0	2.0	1173	$1,350	$1.15	14d	1	0.89mi
600 Bechtel Blvd Ocean Springs, MS	2.0	2.0	944	$1,500	$1.59	14d	1	1.25mi

HOA detail condo

• Monthly dues: $487 · $5,844/yr
• Likely covers: watertrashlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $115,000 Active 184 DOM
2. 2026-06-17
   days on market $115,000 Active 183 DOM
3. 2026-06-16
   days on market $115,000 Active 182 DOM
4. 2026-06-15
   days on market $115,000 Active 181 DOM
5. 2026-06-14
   days on market $115,000 Active 179 DOM
6. 2026-06-13
   pricedays on market $115,000 Active 178 DOM
7. 2026-06-10
   days on market $129,500 Active 176 DOM
8. 2026-06-09
   days on market $129,500 Active 175 DOM
9. 2026-06-08
   days on market $129,500 Active 174 DOM
10. 2026-06-07
    days on market $129,500 Active 173 DOM
11. 2026-06-02
    days on market $129,500 Active 168 DOM
12. 2026-06-01
    days on market $129,500 Active 167 DOM
13. 2026-05-31
    days on market $129,500 Active 166 DOM
14. 2026-05-30
    days on market $129,500 Active 165 DOM
15. 2025-12-16
    listed $129,500 Active 1023-char remark

    Show marketing remark (1023 chars)

    NEW PHOTOS to show recent TLC!! This one comes with a BOAT SLIP with a LIFT. Experience costal condo living in this 1 bedroom, 1.5 bath unit at Oak Glen Marina Condominiums. Enjoy a bright functional layout with natural light and serene marina and pool side views; an array of community amenities including a swimming pool, bayou fishing pier, boat launch, boat slip with lift, tennis/pickleball courts, fitness room, and clubhouse with full kitchen. Clubhouse can be reserved for owner events. HOA provides lawn care, exterior building maintenance and insurance, professional management, accounting services, termite and pest control, trash pickup and water. Makes for stress free ownership. Located minutes from downtown Ocean Springs, residents enjoy Gulf Coast beaches, arts and festivals, and exceptional seafood dining. With easy access to parks, boutique shopping, entertainment district, and is golf cart accessible. Perfect as a primary residence, second home, or investment property. Contact your realtor today!!

16. 2012-08-17
    soldstatus 107-char remark

    Show marketing remark (107 chars)

    Condo has some drywall and all flooring removed. Being sold as-is. Proof of funds required with all offers.

17. 2012-06-19
    listed $27,900 107-char remark

    Show marketing remark (107 chars)

    Condo has some drywall and all flooring removed. Being sold as-is. Proof of funds required with all offers.

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,058 · $88/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 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,192
• − Mortgage interest: −$6,442
• − Property taxes: −$1,058
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − HOA: −$5,844
• − Depreciation: −$3,345
• Taxable loss: −$1,100
• Est. tax savings @ 24.0%: +$264
• After-tax cash flow: $705/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: 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

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 · 82,196 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: 734.0

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%

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%

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

+364.2% since first listed

3 events — show timeline

• 2025-12-16 Listed $129,500 MLSU
• 2012-08-17 Sold (MLS) — MLSU
• 2012-06-19 Listed $27,900 MLSU

Property tax history

+18.9%/yr

Latest (2018): $1,058 · +108.6% YoY. Source: county tax records.