308 Rodenberg Ave · Biloxi, MS 39531

$120,000

2 bd · 2.0 ba · 911 sqft · MultiFamily public records · 291 Days on market

Built 1969 3,484 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
• Schools +4.5/10.0
• Livability +4.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment Property, cash cow, located near Keesler Air Force Base, excellent location!! Each unit currently rents for $425 per month per unit, with paying tenants. Tenant pays electric, cable, trash, and owner pays water. Property is north of HW 90 and north of RR tracks. Sold as is where is.

Key facts

• Fully leased duplex
• 3,484 sq ft lot
• Built 1969

Tags

• FULLY LEASED DUPLEX
• NEAR KEESLER AIR FORCE BASE

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 3.5% in Biloxi — 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 79/100 on livability (#6 in MS, #2,141 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute D+, amenities F, employment D-.
• Biloxi Public School District (urban): math 60% / reading 48% proficiency, ranked #7 of 130 in MS (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 201 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• At $2,066/mo this rent would consume 46% of the median local household income ($54k/yr) (locally 1110% 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 $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Harrison County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.72% ✓
• Cap rate: 15.22%
• Cash-on-cash: 31.88%
• DSCR: 2.42
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.05% rent growth · sell at horizon

5-year hold

• IRR: 23.6%
• Equity multiple: 1.94×
• Total profit: $31,419
• Equity at exit: $17,892

10-year hold

• IRR: 29.7%
• Equity multiple: 3.30×
• Total profit: $77,415
• Equity at exit: $10,375

Cash invested: $33,600 (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 39531

• Home prices YoY: -13.0%
• Rents YoY: 0.1%
• Active inventory: 201
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,066 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$60 /mo · $724/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $893

Break-even live

Break-even rent $936

Max offer price $120,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,066
Total (2 units)			$2,066

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 Gordon Ave Biloxi, MS	3.0	1.0	900	$1,425	$1.58	21d	1	0.22mi
1702 Stevens St Biloxi, MS	1.0	1.0	800	$750	$0.94	43d	1	0.36mi
1713 Stevens St Unit A Biloxi, MS	3.0	2.0	1100	$1,300	$1.18	21d	1	0.39mi
245 Mc Donnell Ave Unit E-131 Biloxi, MS	2.0	1.0	745	$995	$1.34	43d	1	0.49mi
245 Mc Donnell Ave Unit I-164 Biloxi, MS	2.0	1.0	745	$1,195	$1.60	43d	1	0.49mi
245 Mc Donnell Ave Unit G-147 Biloxi, MS	1.0	1.0	608	$1,500	$2.47	21d	1	0.49mi
245 Mc Donnell Ave Biloxi, MS	2.0	1.0	775	$1,595	$2.06	21d	1	0.54mi
1664 Beach Blvd Biloxi, MS	1.0–2.0	1.0–1.5	801	$2,100	$2.62	13d	2	0.56mi
1667 Irish Hill Dr Biloxi, MS	1.0–2.0	1.0–1.5	862	$1,049	$1.22	13d	1	0.57mi
1664 Beach Blvd Biloxi, MS	2.0	1.5	985	$2,295	$2.33	43d	1	0.57mi
122 Coral Breeze Dr Biloxi, MS	3.0	1.5	1000	$2,700	$2.70	43d	1	0.59mi
118 Coral Breeze Dr Biloxi, MS	3.0	1.5	1000	$2,800	$2.80	13d	1	0.67mi
150 Pat Harrison St Biloxi, MS	2.0	1.0	673	$1,025	$1.52	43d	1	0.81mi
1496 Beach Blvd Biloxi, MS	2.0	1.5	1100	$1,450	$1.32	13d	1	0.94mi
1910 Southern Ave Biloxi, MS	1.0–2.0	1.0–1.5	725	$1,200	$1.66	13d	2	0.99mi
330 Belvedere Dr Biloxi, MS	3.0	1.0	1000	$1,200	$1.20	13d	1	1.10mi

Listing history 11 events

1. 2026-03-21
   status Pending
2. 2026-03-06
   price $120,000
3. 2025-12-05
   status Active
4. 2025-12-05
   price $135,000
5. 2025-11-06
   historical
6. 2025-05-05
   listed $155,000 Active
7. 2017-07-18
   soldstatus
8. 2014-02-07
   soldstatus 294-char remark

   Show marketing remark (294 chars)

   Investment Property, cash cow, located near Keesler Air Force Base, excellent location!! Each unit currently rents for $425 per month per unit, with paying tenants. Tenant pays electric, cable, trash, and owner pays water. Property is north of HW 90 and north of RR tracks. Sold as is where is.

9. 2013-11-05
   historical
10. 2013-10-30
    listed $55,900 294-char remark

    Show marketing remark (294 chars)

    Investment Property, cash cow, located near Keesler Air Force Base, excellent location!! Each unit currently rents for $425 per month per unit, with paying tenants. Tenant pays electric, cable, trash, and owner pays water. Property is north of HW 90 and north of RR tracks. Sold as is where is.

11. 2012-09-18
    listed $50,000

ⓘ 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: $724 · $60/mo
• Projected year-2 tax: $948 · $79/mo
• Expected delta: +$224/yr (+$19/mo · 30.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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: $24,792
• − Mortgage interest: −$6,722
• − Property taxes: −$724
• − Insurance: −$600
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$3,491
• Taxable income: $9,288
• Est. tax owed @ 24.0%: −$2,229
• After-tax cash flow: $8,481/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: Biloxi Public School District
• NCES district ID: 2800630
• Math proficiency: 60% ▼ -7.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $40,608
• Composite: 45.26/100
• National rank: #2657
• State rank: #7 of 130 in MS

Livability — Biloxi

• Score: 79/100
• State rank: #6
• US rank: #2141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Biloxi, MS
• County: Harrison County · 178,171 people
• City population: 63,281
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 18,918
• Household income: $54,218
• Rent vs Own: 61.4% rent · 38.6% own
• Severe rent burden: 1110.0

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 228,444 people
• By 2030: 241,942 · +5.9%
• By 2040: 267,531 · +17.1%
• By 2050: 291,062 · +27.4%
• By 2075: 346,711 · +51.8%
• By 2100: 378,165 · +65.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 60% Black 18% Two or more races 12% Hispanic / Latino 11% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 6% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 6% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Harrison

• 2024 margin: Strong R (+28.9) · D 35.0% · R 63.9% · Other 1.1%
• 2008→2024 swing: -2.9pp toward R · 2008: -26.0pp · 2024: -28.9pp
• All cycles: 2024: R+28.9 2020: R+25.2 2016: R+30.7 2012: R+26.6 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.97%
• Current HPI: 193.4018
• Rent YoY: ▬ 0.05%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+140.0% since first listed

11 events — show timeline

• 2026-03-21 Pending — MLSU
• 2026-03-06 Price Changed $120,000 MLSU
• 2025-12-05 Relisted — MLSU
• 2025-12-05 Price Changed $135,000 MLSU
• 2025-11-06 Listing Removed — MLSU
• 2025-05-05 Listed $155,000 MLSU
• 2017-07-18 Sold (Public Records) — Public Records
• 2014-02-07 Sold (MLS) — MLSU
• 2013-11-05 Listing Removed — MLSU
• 2013-10-30 Listed $55,900 MLSU
• 2012-09-18 Listed $50,000 MLSU

Property tax history

+1.2%/yr

Latest (2025): $724 · +4.5% YoY. Source: county tax records.