2124 Baywood Dr · Biloxi, MS 39532

$149,000

3 bd · 1.0 ba · 1,424 sqft · SingleFamily public records · 1 Days on market

Built 1978 10,018 sqft lot Est $209k · 29% under

---

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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +6.4/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in the heart of North Biloxi! This 3-bedroom home offers approximately 1,763 square feet and is packed with potential for the right buyer. Situated in an established neighborhood near shopping, dining, schools, and just a short drive to the beach and casinos, this property is ready for a complete renovation and priced accordingly. Features include a spacious layout, fireplace, slab foundation, and generous lot size. Whether you're looking for your next flip, rental investment, or a project to make your own, this fixer-upper presents a great opportunity to add value in a desirable Biloxi location. Property is being sold as-is.

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1978

Property features AI

Exterior

• Parking: 2-car garage; Garage faces front; Concrete driveway/surface
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Single-family residence (house); One level
• Construction: Brick construction; Slab foundation; Built in public-records year
• Exterior features: Asphalt shingle roof; Portable building on property; Few trees on lot

Interior

• Kitchen: Built-in electric range; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Wood-burning fireplace; Fixer condition
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 9.8% vs local median 3.5% in Biloxi — 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 79/100 on livability (#6 in MS, #2,141 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute D+, amenities F, employment D-.
• Biloxi Public School District (urban): math 60% / reading 48% proficiency, ranked #7 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Bay Elementary School (math 67% / reading 67%, grade B+, #11 of 375 statewide, top 3%, 754 students, 100% FRL); Biloxi Junior High (math 60% / reading 43%, grade C, #27 of 179 statewide, top 16%, 881 students, 100% FRL); Biloxi High School (math 65% / reading 53%, grade C+, #7 of 197 statewide, top 3%, 1,728 students, 100% FRL) — zoned schools average 100% FRL vs 59% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 392 active listings in the ZIP; 6 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).

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 + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $149,000

Questions for the listing agent

1. Built in 1978 — 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. 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: 1.14% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.42%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $209,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2158 Baywood Dr	0.18mi	3/2.0	1,454 (+2%)	3mo	$225,000	$155	81
2070 Camp Wilkes Rd	0.21mi	3/2.0	1,484 (+4%)	1mo	$218,500	$147	78
2091 Carolwood Dr	0.16mi	3/2.0	1,491 (+5%)	3mo	$217,000	$146	78
2053 Carolwood Dr	0.27mi	3/2.0	1,400 (-2%)	6mo	$210,000	$150	75
873 Carolee Cir	0.11mi	3/2.0	1,309 (-8%)	3mo	$175,000	$134	75
2185 Baywood Dr	0.16mi	3/2.0	1,596 (+12%)	1mo	$224,900	$141	68
844 Carolee Cir	0.13mi	4/2.0 (+1)	1,575 (+11%)	2mo	$259,500	$165	66
774 Sharon Hills Dr	0.40mi	4/2.5 (+1)	1,535 (+8%)	1mo	$145,200	$95	56
2223 Popps Ferry Rd	0.41mi	3/2.0	1,558 (+9%)	8mo	$215,000	$138	55
932 Bluff Rdg	0.51mi	3/2.0	1,543 (+8%)	8mo	$250,000	$162	51
2077 Crane Ridge Rdg	0.42mi	2/2.0 (-1)	1,558 (+9%)	8mo	$180,000	$116	49
957 Rustwood Dr	0.53mi	3/2.0	1,251 (-12%)	7mo	$189,900	$152	45

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 · 2.98% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,283
• Equity at exit: $22,216

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $37,955
• Equity at exit: $12,883

Cash invested: $41,720 (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 39532

• Rents YoY: 3.0%
• Active inventory: 392
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$781
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $432

Break-even live

Break-even rent $1,157

Max offer price $149,000

Occupancy floor 70%

Sensitivity live

Price	-10% $516	-5% $474	+0% $432	+5% $390	+10% $348
Rent	-10% $297	-5% $365	+0% $432	+5% $499	+10% $567
Rate	-1.0pp $507	-0.5pp $470	base $432	+0.5pp $393	+1.0pp $354

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2171 Popps Ferry Rd Biloxi, MS	4.0	2.0	1625	$1,600	$0.98	44d	1	0.23mi
883 Rustwood Dr Biloxi, MS	3.0	2.0	1188	$1,700	$1.43	21d	1	0.26mi
875 Laurelwood Dr Biloxi, MS	2.0	2.0	1200	$1,750	$1.46	14d	1	0.29mi
1955 Popps Ferry Rd Biloxi, MS	1.0–3.0	1.0–2.0	1347	$1,647	$1.22	44d	1	0.68mi
2411 Sunkist Country Club Rd Biloxi, MS	3.0	2.0	1592	$1,800	$1.13	44d	1	1.10mi
495 Popps Ferry Rd #77 Biloxi, MS	2.0	2.5	1524	$2,000	$1.31	21d	1	1.50mi

Listing history 2 events

1. 2026-05-30
   status $149,000 Pending 1 DOM
2. 2026-05-28
   listed $149,000 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: $850 · $71/mo
• Projected year-2 tax: $1,177 · $98/mo
• Expected delta: +$327/yr (+$27/mo · 38.5%)

ⓘ 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 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: $20,448
• − Mortgage interest: −$8,346
• − Property taxes: −$850
• − Insurance: −$745
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − Depreciation: −$4,335
• Taxable income: $2,901
• Est. tax owed @ 24.0%: −$696
• After-tax cash flow: $4,487/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: Biloxi Public School District
• NCES district ID: 2800630
• Math proficiency: 60% ▼ -7.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $40,608
• Composite: 45.26/100
• National rank: #2657
• State rank: #7 of 130 in MS

Livability — Biloxi

• Score: 79/100
• State rank: #6
• US rank: #2141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Biloxi, MS
• County: Harrison County · 178,171 people
• City population: 63,281
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 36,662
• Household income: $68,710
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 954.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 15% Two or more races 9% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 5% Italian 2% Serbian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 2% Vietnamese 1% 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: ▼ -90.04%
• Current HPI: 154.9975
• Rent YoY: ▲ 2.98%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-28 Listed $149,000 MLSU

Property tax history

-0.2%/yr

Latest (2025): $850 · -4.0% YoY. Source: county tax records.