3305 Spruce St · Pascagoula, MS 39581

$225,000

8 bd · 4.0 ba · 3,024 sqft · MultiFamily public records · 17 Days on market

Built 1971 6,534 sqft lot

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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
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Are you looking for multi family? This is perfect for an investor.Check out this all brick 4 flex unit. Each unit is 2 bed / 1bath, over 3300 square feet total. It is currently fully occupied . 24 HOURS NOTICE REQUIRED TO SHOW

Key facts

• Privacy
• Galley kitchen
• Income producing

Tags

• INCOME PRODUCING
• GALLEY KITCHEN
• SEPARATE DINING AREA
• PRIVACY

Property features AI

Finance

• Financial info: Multi-family with 4 total units; Owner pays sewer, trash collection, and water; Tenants pay electricity

Exterior

• Parking: No garage; Parking pad
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Two-story building; Structure type: see remarks; Condition: fixer
• Construction: Brick and wood siding construction; Slab foundation; Built (year source: public records)
• Exterior features: Asphalt shingle roof; Chain link and privacy fencing; Rain gutters

Interior

• Kitchen: Free-standing electric oven; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 10 total bathrooms (2 full, 8 half)
• Heating & cooling: Central heating (electric); Central air; Wall/window air conditioning units
• Interior features: Dead bolt locks; Rain gutters

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $377/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 4.2% in Pascagoula — 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 70/100 on livability (#41 in MS) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• Pascagoula-Gautier School District (urban): math 40% / reading 38% proficiency, ranked #41 of 130 in MS (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 79 active listings in the ZIP; lower-income renter base — watch delinquency; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).
• At $4,302/mo this rent would consume 136% of the median local household income ($38k/yr) (locally 965% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.91% ✓
• Cap rate: 16.60%
• Cash-on-cash: 36.83%
• DSCR: 2.64
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.1%
• Equity multiple: 1.95×
• Total profit: $59,790
• Equity at exit: $33,548

10-year hold

• IRR: 31.1%
• Equity multiple: 3.81×
• Total profit: $176,755
• Equity at exit: $19,454

Cash invested: $63,000 (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 39581

• Home prices YoY: -10.5%
• Active inventory: 79
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $4,302 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$191 /mo · $2,297/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$903
• Net cashflow: $1,507

Break-even live

Break-even rent $2,394

Max offer price $225,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,634	-5% $1,571	+0% $1,507	+5% $1,443	+10% $1,380
Rent	-10% $1,167	-5% $1,337	+0% $1,507	+5% $1,677	+10% $1,847
Rate	-1.0pp $1,620	-0.5pp $1,564	base $1,507	+0.5pp $1,449	+1.0pp $1,389

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$4,304
Total (4 units)			$4,302

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $225,000 Active 17 DOM
2. 2026-06-17
   days on market $225,000 Active 16 DOM
3. 2026-06-16
   days on market $225,000 Active 15 DOM
4. 2026-06-15
   days on market $225,000 Active 14 DOM
5. 2026-06-14
   days on market $225,000 Active 12 DOM
6. 2026-06-13
   pricedays on market $225,000 Active 11 DOM
7. 2026-06-10
   days on market $245,000 Active 9 DOM
8. 2026-06-09
   days on market $245,000 Active 8 DOM
9. 2026-06-08
   days on market $245,000 Active 7 DOM
10. 2026-06-07
    days on market $245,000 Active 6 DOM
11. 2026-06-02
    remarks 440-char remark
12. 2026-06-02
    listed $245,000 Active 1 DOM

ⓘ 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: $2,297 · $191/mo
• Projected year-2 tax: $2,297 · $191/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 7/10 Severe FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 24 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: $51,624
• − Mortgage interest: −$12,603
• − Property taxes: −$2,297
• − Insurance: −$6,244
• − Repairs & maintenance: −$4,130
• − Management: −$4,130
• − Depreciation: −$6,545
• Taxable income: $15,675
• Est. tax owed @ 24.0%: −$3,762
• After-tax cash flow: $14,321/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: Pascagoula-Gautier School District
• NCES district ID: 2803480
• Math proficiency: 40% ▼ -3.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $41,392
• Composite: 32.86/100
• National rank: #5613
• State rank: #41 of 130 in MS

Livability — Pascagoula

• Score: 70/100
• State rank: #41
• US rank: #7866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pascagoula, MS
• County: Jackson County · 82,196 people
• City population: 21,731
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 11,390
• Household income: $37,927
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 965.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 40% White 38% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 5%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 82% English-only · Spanish 16% Other Indo-European 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: ▼ -22.34%
• Current HPI: 191.273
• Rent YoY: —
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+96.0% since first listed

11 events — show timeline

• 2026-06-01 Listed $245,000 MLSU
• 2021-09-01 Listing Removed — MLSU
• 2021-05-04 Sold (Public Records) — Public Records
• 2021-04-30 Sold (MLS) — MLSU
• 2021-02-02 Listed $170,000 MLSU
• 2020-09-21 Sold (Public Records) — Public Records
• 2020-09-14 Sold (MLS) — MLSU
• 2020-07-09 Listed $140,000 MLSU
• 2016-01-20 Listed $150,000 MLSU
• 2014-11-14 Sold (MLS) — MLSU
• 2014-10-15 Listed $125,000 MLSU

Property tax history

+2.1%/yr

Latest (2025): $2,297 · +3.8% YoY. Source: county tax records.