8705 Mermaid Ave · Gulf Park Estates, MS 39564

$199,999

3 bd · 2.0 ba · 1,564 sqft · SingleFamily public records · 2 Days on market

Built 2000 10,018 sqft lot Est $233k · 14% under

---

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 +21.1/30.0
• ARV discount +13.9/15.0
• DSCR +6.7/10.0
• Schools +5.3/10.0
• 1% rule +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice home in Gulf Park Estates. Open floor plan, separate dining area, large kitchen w/ breakfast nook, center island, great work station. Addendums are in attachments for this listing, to be sold as is, where is, how is.

Key facts

• Soaking tub
• Large walk-in closet
• Two pantries

Tags

• SPACIOUS FAMILY ROOM
• COZY WOOD-BURNING FIREPLACE
• OPEN KITCHEN
• TWO PANTRIES
• LARGE WALK-IN CLOSET
• SOAKING TUB

Property features AI

Exterior

• Parking: 2-car garage; Concrete parking surfaces
• Utilities: Public sewer; Well water; Electricity connected; Sewer connected; Water connected
• Home design: Single-family house; One story; Move-in ready
• Construction: Stucco exterior; Architectural asphalt shingle roof; Slab foundation; Built in 1,564 sq ft living area (assessor)
• Exterior features: Front porch; Rear porch; Rain gutters; Partial fencing; Few trees; Level, rectangular lot

Interior

• Kitchen: Dishwasher; Disposal; Electric range
• Bedrooms: Primary bedroom located downstairs
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Entrance foyer; Pantry; Primary bedroom on ground floor; Recessed lighting; Soaking tub; Walk-in closets; Wood burning fireplace; Blinds
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry room on main and lower levels; Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.0% vs local median 5.2% in Gulf Park Estates — 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 70/100 on livability (#43 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, 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.
• Zoned schools: Ocean Springs Middle School (math 66% / reading 61%, grade B+, #3 of 179 statewide, top 2%, 967 students, 100% FRL); Ocean Springs High School (math 77% / reading 64%, grade B+, #1 of 197 statewide, top 0%, 1,899 students, 100% FRL) — zoned schools average 100% FRL vs 33% district-wide (67 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 9 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).
• This rent runs 31% of the median local income ($79k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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: moderate 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 $199,999

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $233,036
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1529 S 10th St	0.11mi	3/2.0	1,509 (-4%)	6mo	$199,500	$132	84
8701 Mermaid Ave	0.01mi	4/2.0 (+1)	1,645 (+5%)	7mo	$210,000	$128	80
1513 S 8th St	0.19mi	3/2.0	1,704 (+9%)	1mo	$259,900	$153	75
1500 Deer St	0.26mi	3/2.0	1,734 (+11%)	1mo	$259,000	$149	69
1501 S 7th St	0.23mi	3/2.0	1,413 (-10%)	6mo	$219,990	$156	68
8701 Barnacle Blvd	0.23mi	4/2.0 (+1)	1,410 (-10%)	2mo	$174,999	$124	66
8505 Neptune Ave	0.21mi	3/2.0	1,373 (-12%)	4mo	$157,500	$115	66
8520 Mermaid Ave	0.18mi	3/2.0	1,765 (+13%)	6mo	$125,400	$71	65
9217 Seahorse Ave	0.60mi	3/2.0	1,500 (-4%)	3mo	$239,000	$159	63
9117 Meadowlark Ave	0.60mi	3/2.0	1,473 (-6%)	3mo	$217,900	$148	59
1605 S 2nd St	0.67mi	3/2.0	1,448 (-7%)	3mo	$219,000	$151	54
2000 Deer St	0.61mi	3/2.0	1,336 (-15%)	2mo	$210,000	$157	46

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-17,704
• Equity at exit: $29,821

10-year hold

• IRR: -1.6%
• Equity multiple: 0.90×
• Total profit: $-5,551
• Equity at exit: $17,292

Cash invested: $56,000 (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 39564

• Home prices YoY: -26.8%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,015 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $284

Break-even live

Break-even rent $1,656

Max offer price $199,999

Occupancy floor 81%

Sensitivity live

Price	-10% $397	-5% $341	+0% $284	+5% $227	+10% $171
Rent	-10% $125	-5% $204	+0% $284	+5% $364	+10% $443
Rate	-1.0pp $385	-0.5pp $335	base $284	+0.5pp $232	+1.0pp $179

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1517 Porpoise Dr Ocean Springs, MS	3.0	2.0	1494	$2,250	$1.51	14d	1	0.18mi
1508 Beachview Dr Ocean Springs, MS	3.0	2.0	1428	$1,650	$1.16	14d	1	0.33mi
1700 Lake Mars Ave Ocean Springs, MS	4.0	2.0	2100	$2,100	$1.00	14d	1	0.49mi
9200 Pointe Aux Chenes Rd Unit 1365709P Ocean Springs, MS	3.0	2.0	1420	$5,979	$4.21	14d	1	0.74mi
8712 W Simmons Bayou Dr Ocean Springs, MS	2.0	2.0	1100	$1,900	$1.73	44d	1	0.79mi
8001 Westwood Cir Ocean Springs, MS	3.0–5.0	2.0–3.0	1996	$2,000	$1.00	14d	1	1.04mi
1632 Emerald Lakes Dr Ocean Springs, MS	3.0–4.0	2.0	1585	$1,975	$1.25	14d	1	1.11mi
8700 Spring Ave Ocean Springs, MS	3.0	2.0	1087	$1,050	$0.97	21d	1	1.33mi
8700 Spring Ave Ocean Springs, MS	3.0	2.0	1087	$1,050	$0.97	45d	1	1.33mi

Listing history 4 events

1. 2026-05-23
   status Pending
2. 2026-05-20
   listed $199,999 Active
3. 2008-12-08
   soldstatus 221-char remark

   Show marketing remark (221 chars)

   Nice home in Gulf Park Estates. Open floor plan, separate dining area, large kitchen w/ breakfast nook, center island, great work station. Addendums are in attachments for this listing, to be sold as is, where is, how is.

4. 2008-09-30
   listed $97,000 221-char remark

   Show marketing remark (221 chars)

   Nice home in Gulf Park Estates. Open floor plan, separate dining area, large kitchen w/ breakfast nook, center island, great work station. Addendums are in attachments for this listing, to be sold as is, where is, how is.

ⓘ 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: $2,110 · $176/mo
• Projected year-2 tax: $2,110 · $176/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,182
• − Mortgage interest: −$11,203
• − Property taxes: −$2,110
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,935
• − Management: −$1,935
• − Depreciation: −$5,818
• Taxable income: $182
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $3,365/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 — Gulf Park Estates

• Score: 70/100
• State rank: #43
• US rank: #7955

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment C+ Housing A+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulf Park Estates, MS
• County: Jackson County · 82,196 people
• 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

+106.2% since first listed

4 events — show timeline

• 2026-05-23 Pending — MLSU
• 2026-05-20 Listed $199,999 MLSU
• 2008-12-08 Sold (MLS) — MLSU
• 2008-09-30 Listed $97,000 MLSU

Property tax history

+2.7%/yr

Latest (2025): $2,110 · +2.0% YoY. Source: county tax records.