5635 Hand Sheber St · Ocean Springs, MS 39564

$117,000

3 bd · 2.0 ba · 1,590 sqft · SingleFamily · 3 Days on market

Built 1991 Poor condition 0.46 ac lot ↓ 10% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.3/5.0
• Rent growth +2.8/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FIXER UP ALERT! Endless Potential Awaits! This property has tons of potential! This 3-bedroom, 2-bath home offers over 1,500 square feet of space ready to be reimagined. Whether you're a savvy investor, a DIY enthusiast, or looking to create your dream home from the ground up, this property is your blank canvas. With great bones, and a solid structure, all it needs is your personal touch. The spacious lot and quiet street add even more value, while nearby schools, shops, and parks make this a smart long-term investment. Don't miss your chance to turn this fixer into a forever home or a profitable flip! Buyer to do all due diligence.

Key facts

• 0.46 acres
• Parks
• Corner lot

Tags

• CORNER LOT
• 0.46 ACRES
• OCEAN SPRINGS HOSPITAL
• GREAT SCHOOLS
• SHOPS
• PARKS

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Community water; Sewer and water available
• Home design: Single-family house; One story; Fixer condition
• Construction: Wood siding; Combination and slab foundation; Living area reported as 1,590 (assessor); Built year reported by assessor
• Exterior features: Metal roof; Other exterior features; Corner lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No central cooling listed
• Interior features: One main-level family room; Total rooms: 1

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $117k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Cap rate 14.7% 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.
• Zoned schools: Oak Park Elementary School (math 67% / reading 57%, grade B, #18 of 375 statewide, top 5%, 498 students, 99% FRL); Ocean Springs Upper Elementary Scho (math 59% / reading 56%, grade B, #12 of 179 statewide, top 6%, 1,332 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); 723 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $809 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.76% ✓
• Cap rate: 14.68%
• Cash-on-cash: 29.94%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $295,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5635 Hand Sheber St	0.00mi	3/2.0	1,590 (0%)	3mo	$94,400	$59	98
7813 Tapp Rd	0.32mi	3/2.0	1,599 (+1%)	9mo	$239,500	$150	77
8025 Berwick Ct	0.22mi	3/2.0	1,659 (+4%)	16mo	$331,990	$200	69
5416 Riley Rd	0.54mi	3/2.0	1,600 (+1%)	12mo	$243,000	$152	64
114 Everly Cir	0.60mi	2/2.0 (-1)	1,653 (+4%)	3mo	$308,000	$186	58
5905 Lochness Cir	0.30mi	4/2.0 (+1)	1,704 (+7%)	13mo	$249,000	$146	58
227 Madison Place Dr	0.63mi	3/2.0	1,660 (+4%)	12mo	$299,500	$180	53
124 Everly Cir	0.73mi	2/2.0 (-1)	1,653 (+4%)	9mo	$313,620	$190	46
130 Everly Cir	0.73mi	2/2.0 (-1)	1,653 (+4%)	11mo	$310,160	$188	45
106 Everly Cir	0.61mi	2/2.0 (-1)	1,653 (+4%)	18mo	$289,711	$175	45
310 Glenrose Ave	0.65mi	2/2.0 (-1)	1,653 (+4%)	18mo	$349,000	$211	43
129 Everly Cir #28	0.71mi	2/2.0 (-1)	1,653 (+4%)	16mo	$314,990	$191	42

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: 22.6%
• Equity multiple: 1.91×
• Total profit: $29,684
• Equity at exit: $17,445

10-year hold

• IRR: 29.5%
• Equity multiple: 3.42×
• Total profit: $79,352
• Equity at exit: $10,116

Cash invested: $32,760 (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: 723
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,058 medium
• Mortgage (P&I): −$614
• Tax est. 1.5%: −$146 /mo · $1,755/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $817

Break-even live

Break-even rent $1,023

Max offer price $117,000

Occupancy floor 55%

Sensitivity live

Price	-10% $898	-5% $858	+0% $817	+5% $777	+10% $736
Rent	-10% $655	-5% $736	+0% $817	+5% $899	+10% $980
Rate	-1.0pp $876	-0.5pp $847	base $817	+0.5pp $787	+1.0pp $756

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 Gettysburg Cir Ocean Springs, MS	4.0	3.0	1689	$2,195	$1.30	22d	1	1.32mi
3910 Yosemite Dr Ocean Springs, MS	3.0	2.0	1070	$1,595	$1.49	45d	1	1.41mi

Listing history 11 events

1. 2026-06-01
   statusdays on market $117,000 Pending 3 DOM
2. 2026-05-31
   days on market $117,000 Active 2 DOM
3. 2026-05-29
   listed $117,000 Active
4. 2026-03-25
   soldstatus Closed 640-char remark

   Show marketing remark (640 chars)

   FIXER UP ALERT! Endless Potential Awaits! This property has tons of potential! This 3-bedroom, 2-bath home offers over 1,500 square feet of space ready to be reimagined. Whether you're a savvy investor, a DIY enthusiast, or looking to create your dream home from the ground up, this property is your blank canvas. With great bones, and a solid structure, all it needs is your personal touch. The spacious lot and quiet street add even more value, while nearby schools, shops, and parks make this a smart long-term investment. Don't miss your chance to turn this fixer into a forever home or a profitable flip! Buyer to do all due diligence.

5. 2026-03-13
   status Pending 640-char remark

   Show marketing remark (640 chars)

   FIXER UP ALERT! Endless Potential Awaits! This property has tons of potential! This 3-bedroom, 2-bath home offers over 1,500 square feet of space ready to be reimagined. Whether you're a savvy investor, a DIY enthusiast, or looking to create your dream home from the ground up, this property is your blank canvas. With great bones, and a solid structure, all it needs is your personal touch. The spacious lot and quiet street add even more value, while nearby schools, shops, and parks make this a smart long-term investment. Don't miss your chance to turn this fixer into a forever home or a profitable flip! Buyer to do all due diligence.

6. 2026-03-12
   price $94,400 640-char remark

   Show marketing remark (640 chars)

   FIXER UP ALERT! Endless Potential Awaits! This property has tons of potential! This 3-bedroom, 2-bath home offers over 1,500 square feet of space ready to be reimagined. Whether you're a savvy investor, a DIY enthusiast, or looking to create your dream home from the ground up, this property is your blank canvas. With great bones, and a solid structure, all it needs is your personal touch. The spacious lot and quiet street add even more value, while nearby schools, shops, and parks make this a smart long-term investment. Don't miss your chance to turn this fixer into a forever home or a profitable flip! Buyer to do all due diligence.

7. 2026-03-04
   listed $94,900 Active 640-char remark

   Show marketing remark (640 chars)

   FIXER UP ALERT! Endless Potential Awaits! This property has tons of potential! This 3-bedroom, 2-bath home offers over 1,500 square feet of space ready to be reimagined. Whether you're a savvy investor, a DIY enthusiast, or looking to create your dream home from the ground up, this property is your blank canvas. With great bones, and a solid structure, all it needs is your personal touch. The spacious lot and quiet street add even more value, while nearby schools, shops, and parks make this a smart long-term investment. Don't miss your chance to turn this fixer into a forever home or a profitable flip! Buyer to do all due diligence.

8. 2025-10-13
   historical
9. 2025-08-07
   status Active
10. 2025-07-24
    listed $130,000 Active
11. 2025-07-24
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 20 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: $24,697
• − Mortgage interest: −$6,554
• − Property taxes: −$1,755
• − Insurance: −$585
• − Repairs & maintenance: −$1,976
• − Management: −$1,976
• − Depreciation: −$3,404
• Taxable income: $8,448
• Est. tax owed @ 24.0%: −$2,027
• After-tax cash flow: $7,780/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab

This fixer-upper property requires extensive repairs and maintenance, including roof and exterior siding repairs, as well as landscaping and exterior painting. Improvements will significantly enhance its resale and rental value.

Repairs flagged

• Major roof — Exposed roof structure, potential water damage
• Major exterior siding — Weathered siding, missing or damaged shingles
• Major landscaping — Overgrown vegetation, unkempt lawn

Value-add opportunities

• Both Landscaping and exterior painting — Improves curb appeal and property value
• Both Roof repair — Prevents water damage and extends property lifespan

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Exposed roof structure, potential water damage	Major	$15,000–50,000
exterior siding · Weathered siding, missing or damaged shingles	Major	$15,000–50,000
landscaping · Overgrown vegetation, unkempt lawn	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Landscaping and exterior painting — Improves curb appeal and property value ↑
• Both Roof repair — Prevents water damage and extends property lifespan ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-10.0% since first listed

9 events — show timeline

• 2026-05-29 Listed $117,000 MLSU
• 2026-03-25 Sold (MLS) — MLSU
• 2026-03-13 Pending — MLSU
• 2026-03-12 Price Changed $94,400 MLSU
• 2026-03-04 Listed $94,900 MLSU
• 2025-10-13 Listing Removed — MLSU
• 2025-08-07 Relisted — MLSU
• 2025-07-24 Listing Removed — MLSU
• 2025-07-24 Listed $130,000 MLSU