415 Wainwright St · Waveland, MS 39576

$147,000

2 bd · 1.0 ba · 704 sqft · SingleFamily public records · 31 Days on market

Built 1960 7,405 sqft lot Est $152k · at est.

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Why this score? — see what drove the D 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 +14.0/30.0
• ARV discount +9.0/15.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you're looking for an affordable, weekend getaway or a great rental property, check out this cute two bedroom cottage close to everything in Waveland. The compact, but efficient, design makes it perfect as a starter home with a nice fenced back yard. The above ground pool can stay or not, at buyer's option. It;s a short drive to Hwy 90 and to the beach, shops and entertainment in an X flood zone so flood insurance is not required. Come check it out.

Key facts

• Minutes to the beach
• Fenced backyard
• Heart of waveland

Tags

• FENCED BACKYARD
• MINUTES TO THE BEACH
• HEART OF WAVELAND

Property features AI

Finance

• Other: Lot approximately 0.17 acre (60 x 123)

Exterior

• Parking: Driveway; Gravel parking
• Security: Security system
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single-family house; One story; Entry level on one level
• Construction: Vinyl siding; Asphalt shingle roof; Pillar/post/pier foundation; Built (year per public records)
• Exterior features: Back yard fencing; Private yard

Interior

• Kitchen: Dishwasher; Free-standing electric range; Refrigerator
• Bedrooms: One-level home
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Space heater; Window unit(s) for cooling
• Interior features: Security system; Private yard

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $18 ($219/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (20.9% below list).
• Recommended offer: $116k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.5% in Waveland — 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 61/100 on livability (#199 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Bay St Louis Waveland School District (suburban): math 51% / reading 43% proficiency, ranked #21 of 130 in MS (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 225 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 248 units permitted in Hancock 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.
• Hancock County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,250 (20.9% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $152,064
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 Wainwright St	0.03mi	2/1.0	800 (+14%)	11mo	$129,999	$162	67
808 Saint Joseph St	0.40mi	2/1.0	780 (+11%)	1mo	$99,000	$127	62
625 Saint Anthony St	0.40mi	2/1.0	785 (+12%)	4mo	$169,700	$216	58
217 Gulfside St	0.40mi	2/2.0	740 (+5%)	20mo	$189,000	$255	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-22,714
• Equity at exit: $21,918

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-18,502
• Equity at exit: $12,710

Cash invested: $41,160 (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 39576

• Active inventory: 225
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,162 medium
• Mortgage (P&I): −$771
• Tax from tax record: −$68 /mo · $816/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $18

Break-even live

Break-even rent $1,139

Max offer price $147,000

Occupancy floor 93%

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Waverly Dr Bay Saint Louis, MS	1.0–3.0	1.0–2.0	861	$1,162	$1.35	11d	1	0.98mi

Listing history 24 events

1. 2026-06-18
   days on market $147,000 Active 31 DOM
2. 2026-06-17
   days on market $147,000 Active 30 DOM
3. 2026-06-16
   days on market $147,000 Active 29 DOM
4. 2026-06-15
   days on market $147,000 Active 28 DOM
5. 2026-06-13
   days on market $147,000 Active 26 DOM
6. 2026-06-12
   days on market $147,000 Active 25 DOM
7. 2026-06-09
   days on market $147,000 Active 22 DOM
8. 2026-06-08
   days on market $147,000 Active 21 DOM
9. 2026-06-07
   days on market $147,000 Active 19 DOM
10. 2026-06-04
    days on market $147,000 Active 16 DOM
11. 2026-06-02
    days on market $147,000 Active 15 DOM
12. 2026-06-01
    days on market $147,000 Active 14 DOM
13. 2026-05-31
    days on market $147,000 Active 13 DOM
14. 2026-05-18
    listed $147,000 Active
15. 2024-01-17
    soldstatus
16. 2024-01-16
    soldstatus Closed 460-char remark

    Show marketing remark (460 chars)

    If you're looking for an affordable, weekend getaway or a great rental property, check out this cute two bedroom cottage close to everything in Waveland. The compact, but efficient, design makes it perfect as a starter home with a nice fenced back yard. The above ground pool can stay or not, at buyer's option. It;s a short drive to Hwy 90 and to the beach, shops and entertainment in an X flood zone so flood insurance is not required. Come check it out.

17. 2023-12-19
    status Pending 460-char remark

    Show marketing remark (460 chars)

    If you're looking for an affordable, weekend getaway or a great rental property, check out this cute two bedroom cottage close to everything in Waveland. The compact, but efficient, design makes it perfect as a starter home with a nice fenced back yard. The above ground pool can stay or not, at buyer's option. It;s a short drive to Hwy 90 and to the beach, shops and entertainment in an X flood zone so flood insurance is not required. Come check it out.

18. 2023-12-14
    listed $139,000 Active 460-char remark

    Show marketing remark (460 chars)

    If you're looking for an affordable, weekend getaway or a great rental property, check out this cute two bedroom cottage close to everything in Waveland. The compact, but efficient, design makes it perfect as a starter home with a nice fenced back yard. The above ground pool can stay or not, at buyer's option. It;s a short drive to Hwy 90 and to the beach, shops and entertainment in an X flood zone so flood insurance is not required. Come check it out.

19. 2021-09-22
    historical
20. 2014-04-14
    listed $55,000
21. 2006-01-27
    soldstatus
22. 2005-12-29
    soldstatus
23. 2005-07-07
    listed $19,900
24. 1994-04-12
    soldstatus

ⓘ 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: $816 · $68/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$345/yr (+$29/mo · 42.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,950
• − Mortgage interest: −$8,234
• − Property taxes: −$816
• − Insurance: −$735
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$4,276
• Taxable loss: −$2,344
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $781/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: Bay St Louis Waveland School District
• NCES district ID: 2800570
• Math proficiency: 51% ▲ 4.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $38,774
• Composite: 39.27/100
• National rank: #3998
• State rank: #21 of 130 in MS

Livability — Waveland

• Score: 61/100
• State rank: #199
• US rank: #18110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waveland, MS
• City population: 6,249
• Population (ZIP): 6,249

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 52,161 people
• By 2030: 54,753 · +5.0%
• By 2040: 59,242 · +13.6%
• By 2050: 62,417 · +19.7%
• By 2075: 68,168 · +30.7%
• By 2100: 69,212 · +32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 13% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Lithuanian 8% Italian 1% Russian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 2% Arabic 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+58.7) · D 20.1% · R 78.8% · Other 1.1%
• 2008→2024 swing: -4.4pp toward R · 2008: -54.2pp · 2024: -58.7pp
• All cycles: 2024: R+58.7 2020: R+55.5 2016: R+59.4 2012: R+52.8 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.70%
• Current HPI: 218.6299
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+638.7% since first listed

11 events — show timeline

• 2026-05-18 Listed $147,000 MLSU
• 2024-01-17 Sold (Public Records) — Public Records
• 2024-01-16 Sold (MLS) — MLSU
• 2023-12-19 Pending — MLSU
• 2023-12-14 Listed $139,000 MLSU
• 2021-09-22 Listing Removed — MLSU
• 2014-04-14 Listed $55,000 MLSU
• 2006-01-27 Sold (Public Records) — Public Records
• 2005-12-29 Sold (MLS) — MLSU
• 2005-07-07 Listed $19,900 MLSU
• 1994-04-12 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $816 · +0.0% YoY. Source: county tax records.