178 Lanai Villa Unit Y · Diamondhead, MS 39525

$140,000

2 bd · 2.0 ba · 948 sqft · Condo public records · 190 Days on market

Built 1974 $148/sqft · 17% below area Est $169k · 17% under $414/mo HOA · 28% of rent ↓ 11% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +7.9/30.0
• 1% rule +5.5/10.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

Key facts

• Two private patios
• Updated master suite
• Excellent storage

Tags

• GROUND-FLOOR CORNER UNIT
• DURABLE LUXURY VINYL FLOORING
• TWO PRIVATE PATIOS
• UPDATED MASTER SUITE
• EXCELLENT STORAGE
• DEDICATED DESK/VANITY AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (18.7% below list).
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $114k (18.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#59 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hancock County School District (rural): math 47% / reading 44% proficiency, ranked #23 of 130 in MS (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Hancock Elementary School (math 64% / reading 59%, grade B, #22 of 375 statewide, top 6%, 639 students, 100% FRL); Hancock Middle School (math 48% / reading 44%, grade D+, #39 of 179 statewide, top 22%, 958 students, 100% FRL); Hancock High School (math 42% / reading 43%, grade F, #42 of 197 statewide, top 21%, 1,187 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (41 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 250 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $968 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 190 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $24k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• 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 $113,776 (18.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 5.02%
• Cash-on-cash: -4.54%
• DSCR: 0.80
• GRM: 7.9

CMA / ARV

• ARV (median comp): $168,706
• List price: $140,000
• Delta: -17.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.7%
• Equity multiple: 0.19×
• Total profit: $-31,909
• Equity at exit: $20,874

10-year hold

• IRR: -18.2%
• Equity multiple: 0.00×
• Total profit: $-39,020
• Equity at exit: $12,105

Cash invested: $39,200 (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 39525

• Home prices YoY: -19.1%
• Active inventory: 250
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$58
• HOA: −$414
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $-148

Break-even live

Break-even rent $1,656

Max offer price $113,776

Occupancy floor —

Sensitivity live

Price	-10% $-69	-5% $-109	+0% $-148	+5% $-188	+10% $-228
Rent	-10% $-264	-5% $-206	+0% $-148	+5% $-90	+10% $-32
Rate	-1.0pp $-78	-0.5pp $-113	base $-148	+0.5pp $-185	+1.0pp $-222

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Lanai Vlg Unit C Diamondhead, MS	1.0	1.0	639	$1,100	$1.72	15d	1	0.17mi
208 Molokai Vlg Diamondhead, MS	2.0	2.0	951	$1,250	$1.31	22d	1	0.52mi

HOA detail condo

• Monthly dues: $414 · $4,968/yr
• Likely covers: watersewertrashlandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $140,000 Active 190 DOM
2. 2026-06-18
   days on market $140,000 Active 187 DOM
3. 2026-06-17
   days on market $140,000 Active 186 DOM
4. 2026-06-16
   days on market $140,000 Active 185 DOM
5. 2026-06-15
   days on market $140,000 Active 184 DOM
6. 2026-06-14
   days on market $140,000 Active 182 DOM
7. 2026-06-13
   days on market $140,000 Active 181 DOM
8. 2026-06-10
   days on market $140,000 Active 179 DOM
9. 2026-06-09
   days on market $140,000 Active 178 DOM
10. 2026-06-08
    days on market $140,000 Active 177 DOM
11. 2026-06-07
    days on market $140,000 Active 176 DOM
12. 2026-06-05
    days on market $140,000 Active 173 DOM
13. 2026-06-03
    days on market $140,000 Active 172 DOM
14. 2026-06-02
    days on market $140,000 Active 171 DOM
15. 2026-06-01
    days on market $140,000 Active 170 DOM
16. 2026-05-31
    days on market $140,000 Active 169 DOM
17. 2026-05-30
    days on market $140,000 Active 168 DOM
18. 2026-03-30
    status Active 1429-char remark

    Show marketing remark (1429 chars)

    ** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

19. 2026-02-12
    status Pending 1429-char remark

    Show marketing remark (1429 chars)

    ** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

20. 2026-01-01
    status Active 1429-char remark

    Show marketing remark (1429 chars)

    ** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

21. 2025-12-27
    status Pending 1429-char remark

    Show marketing remark (1429 chars)

    ** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

22. 2025-12-04
    price $155,900 1429-char remark

    Show marketing remark (1429 chars)

    ** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

23. 2025-10-20
    listed $164,000 Active 1429-char remark

    Show marketing remark (1429 chars)

    ** MOTIVATED SELLER*** Step into this , ground-floor corner unit in Lanai Villa and enjoy fantastic natural light! This 2-bedroom, 2-full bath condo is perfectly situated steps away from the pool. You can breathe easy knowing the unit features a brand new air conditioning system! This stylish condo is ready for low-maintenance living. It features durable luxury vinyl flooring in the main areas and cozy carpet in the bedrooms for comfort. The convenience continues with a newer stackable washer and dryer (only 2 years old) located in the entry closet. Private Patios & Updated Master Suite The condo is perfect for relaxing or entertaining with two private patios: one in the back facing the pool, and a second one on the side. The main bedroom offers excellent storage with twin closets plus a dedicated desk/vanity area. The main bathroom is truly a must-see, having been completely refreshed with a significant $$5,000 remodel. Exceptional Value & Low-Maintenance Living The condo dues provide tremendous value and cover nearly all of your major exterior expenses, ensuring a true low-maintenance lifestyle: Exterior Maintenance & Repairs Grounds/Lawn Maintenance Pest Control Pool Upkeep Garbage Pick-Up Structure Insurance Water/Sewer & Fire Protection This unit offers an easy lifestyle, modern amenities, and a prime location. See it today before it's too late!

24. 2025-09-30
    historical
25. 2025-09-12
    price $164,000
26. 2025-06-03
    price $174,000
27. 2025-03-26
    listed $175,000 Active
28. 2000-10-11
    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: $1,220 · $102/mo
• Projected year-2 tax: $1,220 · $102/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $17,616
• − Mortgage interest: −$7,842
• − Property taxes: −$1,220
• − Insurance: −$700
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − HOA: −$4,968
• − Depreciation: −$4,073
• Taxable loss: −$4,005
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $-820/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: Hancock County School District
• NCES district ID: 2801740
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $47,971
• Composite: 38.88/100
• National rank: #4099
• State rank: #23 of 130 in MS

Livability — Diamondhead

• Score: 68/100
• State rank: #59
• US rank: #9320

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Diamondhead, MS
• County: Hancock County · 9,338 people
• City population: 9,338
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 9,338
• Household income: $87,407
• Rent vs Own: 10.3% rent · 89.7% own

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 (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 10% Slovak 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -45.77%
• Current HPI: 193.4883
• Rent YoY: —
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

-10.9% since first listed

11 events — show timeline

• 2026-03-30 Relisted — MLSU
• 2026-02-12 Pending — MLSU
• 2026-01-01 Relisted — MLSU
• 2025-12-27 Pending — MLSU
• 2025-12-04 Price Changed $155,900 MLSU
• 2025-10-20 Listed $164,000 MLSU
• 2025-09-30 Listing Removed — MLSU
• 2025-09-12 Price Changed $164,000 MLSU
• 2025-06-03 Price Changed $174,000 MLSU
• 2025-03-26 Listed $175,000 MLSU
• 2000-10-11 Sold (Public Records) — Public Records

Property tax history

+4.2%/yr

Latest (2017): $1,220 · +1.9% YoY. Source: county tax records.