501 Cheshire Dr · Gulfport, MS 39507

$149,900

3 bd · 2.0 ba · 1,717 sqft · SingleFamily public records · 29 Days on market

Built 1974 0.45 ac lot Est $294k · 49% 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 +7.3/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3 bedroom, 2 bath home situated on almost half an acre with beautiful mature live oak trees providing plenty of shade and character. Features include an eat-in kitchen, interior laundry room, and a functional layout with great potential. Large yard offers room to enjoy outdoor living, gardening, or additional storage. Conveniently located with easy access to local amenities. Home is in need of updates and repairs, making it a great opportunity for investors or buyers looking to add their own personal touch

Key facts

• Large yard
• Eat-in kitchen
• Functional layout

Tags

• EAT-IN KITCHEN
• INTERIOR LAUNDRY ROOM
• LARGE YARD
• MATURE LIVE OAK TREES
• FUNCTIONAL LAYOUT
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage that faces the side
• Utilities: Public water; Public sewer; Utilities: see remarks
• Home design: Single-family house; One level; Fixer condition
• Construction: Brick construction; Shingle roof; Slab foundation; Built (year from assessor)
• Exterior features: Patio/porch: other; Back yard with chain link fencing; See remarks for additional exterior details; Many trees on the lot

Interior

• Flooring: Combination flooring
• Bathrooms: 1 full bathroom; 1.75 total bathrooms (2 total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Combination flooring; Other appliances (see remarks)
• Laundry & utility: Indoor laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: amenities F, commute F, employment 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.
• Zoned schools: Pass Road Elementary School (math 32% / reading 42%, grade F, #135 of 375 statewide, top 39%, 398 students, 100% FRL); Bayou View Middle School (math 54% / reading 49%, grade C, #27 of 179 statewide, top 16%, 826 students, 100% FRL); Gulfport High School (math 42% / reading 36%, grade F, #54 of 197 statewide, top 28%, 1,728 students, 100% FRL) — zoned schools average 100% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 301 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $4k 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 + 4.3% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.61%
• DSCR: 1.74
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $293,607
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 E Park St	0.47mi	4/2.0 (+1)	1,650 (-4%)	4mo	$184,900	$112	63
400 Krill Ct	0.70mi	3/2.0	1,765 (+3%)	2mo	$305,361	$173	61
1316 Redfish Dr	0.67mi	3/2.0	1,765 (+3%)	5mo	$301,434	$171	60
1061 Flounder Way	0.61mi	3/2.0	1,845 (+8%)	2mo	$315,406	$171	57
1373 Redfish Dr	0.61mi	3/2.0	1,845 (+8%)	4mo	$314,004	$170	56
1311 Redfish Dr	0.61mi	3/2.0	1,561 (-9%)	1mo	$291,620	$187	56
1312 Redfish Dr	0.62mi	3/2.0	1,845 (+8%)	4mo	$309,650	$168	55
1057 Flounder Way	0.61mi	3/2.0	1,561 (-9%)	3mo	$293,695	$188	54
23 39th St	0.74mi	3/2.0	1,550 (-10%)	3mo	$239,500	$155	46
21 E Park St	0.47mi	4/1.0 (+1)	1,481 (-14%)	2mo	$149,900	$101	45
155 Phillips Dr	0.63mi	3/2.0	1,971 (+15%)	2mo	$589,500	$299	44
463 Oak Grove Ave	0.74mi	3/2.0	1,488 (-13%)	3mo	$176,000	$118	41

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 · 4.26% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.36×
• Total profit: $14,992
• Equity at exit: $22,351

10-year hold

• IRR: 19.1%
• Equity multiple: 2.68×
• Total profit: $70,344
• Equity at exit: $12,961

Cash invested: $41,972 (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 39507

• Home prices YoY: -27.1%
• Rents YoY: 4.3%
• Active inventory: 301
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,841 high
• Mortgage (P&I): −$786
• Tax from tax record: −$25 /mo · $300/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $581

Break-even live

Break-even rent $1,106

Max offer price $149,900

Occupancy floor 63%

Sensitivity live

Price	-10% $666	-5% $623	+0% $581	+5% $367	+10% $315
Rent	-10% $435	-5% $508	+0% $581	+5% $654	+10% $726
Rate	-1.0pp $656	-0.5pp $619	base $581	+0.5pp $542	+1.0pp $502

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
477 Tegarden Rd Unit D Gulfport, MS	3.0	2.0	1300	$1,300	$1.00	15d	1	0.13mi
1229 Century Oaks Dr Gulfport, MS	3.0	3.0	1200	$2,600	$2.17	22d	1	0.62mi
153 Markham Dr Gulfport, MS	3.0	2.0	1650	$3,000	$1.82	45d	1	0.66mi
1131 Century Oaks Dr Gulfport, MS	3.0	3.0	1156	$1,800	$1.56	45d	1	0.66mi
1270 Century Oaks Dr Gulfport, MS	3.0	3.0	1158	$1,950	$1.68	45d	1	0.67mi
980 Courthouse Rd Unit 1605 Gulfport, MS	2.0	2.0	1227	$1,355	$1.10	22d	1	0.67mi
1101 Century Oaks Dr Gulfport, MS	3.0	3.0	1330	$1,700	$1.28	45d	1	0.68mi
1276 Century Oaks Dr Gulfport, MS	3.0	3.0	1283	$2,100	$1.64	45d	1	0.69mi
1100 Century Oaks Dr Unit A Gulfport, MS	3.0	3.0	1156	$2,200	$1.90	45d	1	0.70mi
3503 Hancock Ave Gulfport, MS	2.0	2.5	1100	$1,100	$1.00	22d	1	0.71mi
954 Old Towne St Gulfport, MS	3.0	2.0	1533	$1,900	$1.24	15d	1	0.72mi
1215 Ocean View Dr Gulfport, MS	3.0	2.0	1710	$2,895	$1.69	22d	1	0.74mi
1114 Washington Ave Gulfport, MS	3.0	2.0	1200	$1,350	$1.12	22d	1	0.85mi
408 Caribe Pl N Gulfport, MS	3.0	2.5	2158	$2,700	$1.25	45d	1	0.92mi
1400 Mill Rd Gulfport, MS	2.0	2.5	1290	$2,550	$1.98	45d	1	0.97mi
1525 E Pass Rd Gulfport, MS	1.0–3.0	1.0–2.0	1070	$1,519	$1.42	22d	1	0.99mi
1100 Snapper CT Gulfport, MS	3.0	2.5	1553	$1,775	$1.14	22d	1	1.04mi
1618 Courthouse Rd Gulfport, MS	3.0	1.0	1168	$1,400	$1.20	45d	1	1.36mi
4801 Jefferson Ave Gulfport, MS	3.0	2.0	1072	$1,800	$1.68	22d	1	1.42mi
1339 Foxwood Pl Gulfport, MS	3.0	2.0	1100	$1,375	$1.25	45d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $149,900 Active 29 DOM
2. 2026-06-17
   days on market $149,900 Active 28 DOM
3. 2026-06-16
   days on market $149,900 Active 27 DOM
4. 2026-06-15
   days on market $149,900 Active 26 DOM
5. 2026-06-14
   days on market $149,900 Active 24 DOM
6. 2026-06-13
   days on market $149,900 Active 23 DOM
7. 2026-06-10
   days on market $149,900 Active 21 DOM
8. 2026-06-09
   days on market $149,900 Active 20 DOM
9. 2026-06-08
   days on market $149,900 Active 19 DOM
10. 2026-06-07
    days on market $149,900 Active 18 DOM
11. 2026-06-05
    days on market $149,900 Active 15 DOM
12. 2026-06-02
    days on market $149,900 Active 13 DOM
13. 2026-06-01
    days on market $149,900 Active 12 DOM
14. 2026-05-31
    days on market $149,900 Active 11 DOM
15. 2026-05-30
    days on market $149,900 Active 10 DOM
16. 2026-05-20
    listed $149,900 Active

ⓘ 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: $300 · $25/mo
• Projected year-2 tax: $1,184 · $99/mo
• Expected delta: +$884/yr (+$74/mo · 294.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,092
• − Mortgage interest: −$8,397
• − Property taxes: −$300
• − Insurance: −$750
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$4,361
• Taxable income: $4,750
• Est. tax owed @ 24.0%: −$1,140
• After-tax cash flow: $5,830/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): 18,564
• Household income: $54,657
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 1059.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 24% Hispanic / Latino 6% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Slovak 4% Lithuanian 4% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -67.48%
• Current HPI: 181.6606
• Rent YoY: ▲ 4.26%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-20 Listed $149,900 MLSU

Property tax history

-2.4%/yr

Latest (2025): $300 · -0.0% YoY. Source: county tax records.