6173 W Adams St · Waveland, MS 39520

$139,900

3 bd · 2.0 ba · 1,836 sqft · SingleFamily public records · 12 Days on market

Built 2000 0.47 ac lot Est $158k · 11% under

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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 +26.5/30.0
• ARV discount +12.6/15.0
• DSCR +9.1/10.0
• 1% rule +6.9/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom Brick Home in Bayside Park Welcome to this 3-bedroom, 2-bath brick home located in the Bayside Park community! Conveniently situated with easy access to the interstate, this property is perfect for commuters while still offering a peaceful neighborhood setting. Step inside to discover a spacious open floor plan with a desirable split-bedroom layout, providing both comfort and privacy. The inviting living area flows seamlessly into an eat-in kitchen, ideal for everyday living and entertaining. Situated on a large lot, this home offers plenty of outdoor space for relaxing, gardening, or hosting gatherings.

Key facts

• Open floor plan
• Split-bedroom layout
• Large lot

Tags

• OPEN FLOOR PLAN
• SPLIT-BEDROOM LAYOUT
• EAT-IN KITCHEN
• LARGE LOT
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-55 ($-661/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (7.0% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $130k (7.0% below list) — sets the bar for cash-flow.
• Cap rate 9.5% 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: amenities F, commute F, employment D-.
• 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: South Hancock Elementary School (math 34% / reading 32%, grade F, #168 of 375 statewide, top 45%, 535 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: 622 active listings in the ZIP; 2 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 $967 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,171 (7.0% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $157,896
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6173 W Adams St	0.00mi	3/2.0	1,836 (0%)	1mo	$139,900	$76	99
8470 Jeff Davis Dr	0.65mi	3/2.0	1,860 (+1%)	21mo	$160,000	$86	50
8015 Dazure St	0.55mi	2/1.0 (-1)	1,595 (-13%)	15mo	$168,000	$105	31

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: -18.8%
• Equity multiple: 0.34×
• Total profit: $-25,901
• Equity at exit: $20,860

10-year hold

• IRR: -10.9%
• Equity multiple: 0.34×
• Total profit: $-25,949
• Equity at exit: $12,096

Cash invested: $39,172 (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 39520

• Active inventory: 622
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,671 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$157 /mo · $1,880/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-55

Break-even live

Break-even rent $1,741

Max offer price $130,171

Occupancy floor 98%

Sensitivity live

Price	-10% $24	-5% $-15	+0% $-55	+5% $-95	+10% $-134
Rent	-10% $-187	-5% $-121	+0% $-55	+5% $11	+10% $77
Rate	-1.0pp $15	-0.5pp $-19	base $-55	+0.5pp $-91	+1.0pp $-128

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6095 E Lamar St Bay Saint Louis, MS	3.0	2.0	1392	$1,645	$1.18	45d	1	0.69mi
6004 E Jackson St Bay Saint Louis, MS	3.0	2.0	1329	$1,700	$1.28	45d	1	0.74mi

Listing history 3 events

1. 2026-04-16
   status Pending
2. 2026-04-02
   listed $139,900 Active
3. 2002-01-15
   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: $1,880 · $157/mo
• Projected year-2 tax: $1,880 · $157/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 6/10 Major FEMA zone AE · 64% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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: $20,052
• − Mortgage interest: −$7,837
• − Property taxes: −$1,880
• − Insurance: −$5,818
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$4,070
• Taxable loss: −$2,761
• Est. tax savings @ 24.0%: +$663
• After-tax cash flow: $2/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 — 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

• City population: 6,249
• Population (ZIP): 15,471

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 (80%)
• Race & ethnicity: White 80% Black 11% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 15% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 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: ▼ -169.80%
• Current HPI: 227.2103
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-04-16 Pending — MLSU
• 2026-04-02 Listed $139,900 MLSU
• 2002-01-15 Sold (Public Records) — Public Records

Property tax history

+17.8%/yr

Latest (2025): $1,880 · +0.0% YoY. Source: county tax records.