8824 Mermaid Ave · Gulf Park Estates, MS 39564

$180,000

4 bd · 3.0 ba · 1,887 sqft · SingleFamily public records · 56 Days on market

Built 1969 0.25 ac lot $95/sqft · 33% below area Est $249k · 28% 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.3/10.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take advantage of FHA $100 down loan on this 4BR/3BA home in Gulf Park Estates. Seller will pay 3% closing cost. HUD owned, sold AS-IS, FHA case #281-295080, FHA IE, insured with $3850.00 repair escrow. Go to www.hudpemco.com for more info. Call your realtor to see.

Key facts

• Flexible floor plan
• Fenced backyard
• 0.25 acre lot

Tags

• FENCED BACKYARD
• FLEXIBLE FLOOR PLAN
• INVESTMENT OPPORTUNITY

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single family residence (House); Two levels
• Construction: Wood siding; Shingle roof; Slab foundation; Built (year source: Assessor)
• Exterior features: Front porch; Front yard fencing; Fenced lot

Interior

• Kitchen: Cooktop; Oven; Dishwasher
• Flooring: Carpet; Wood; See remarks
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (Electric heat pump); Central air conditioning (Electric)
• Interior features: Balcony; Fixer condition
• Laundry & utility: Laundry area in garage

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.2% in Gulf Park Estates — 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 (#43 in MS) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, amenities F.
• Ocean Springs School District (suburban): math 64% / reading 59% proficiency, ranked #1 of 130 in MS (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.3%/yr); 714 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 516 units permitted in Jackson County in 2024 (6 in 5+ unit buildings).
• This rent runs 34% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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 D-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: 1.23% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• GRM: 6.8

CMA / ARV

• ARV (median comp): $248,856
• List price: $180,000
• Delta: -27.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1620 Porpoise St	0.20mi	4/2.0	1,866 (-1%)	5mo	$202,440	$108	80
1605 Lake Mars Ave	0.32mi	4/2.0	1,861 (-1%)	0mo	$279,900	$150	78
9013 Barnacle Blvd	0.25mi	4/2.0	1,900 (+1%)	7mo	$326,900	$172	77
8816 Mermaid Ave	0.03mi	4/2.0	2,100 (+11%)	1mo	$249,900	$119	75
1500 Deer St	0.08mi	3/2.0 (-1)	1,734 (-8%)	1mo	$259,000	$149	73
1513 S 8th St	0.07mi	3/2.0 (-1)	1,704 (-10%)	1mo	$259,900	$153	70
8500 Clamshell Ave	0.41mi	4/2.0	1,926 (+2%)	5mo	$265,900	$138	70
9417 Barnacle Blvd	0.63mi	4/2.5	1,910 (+1%)	4mo	$340,000	$178	63
8701 Mermaid Ave	0.20mi	4/2.0	1,645 (-13%)	7mo	$210,000	$128	60
8520 Mermaid Ave	0.36mi	3/2.0 (-1)	1,765 (-6%)	6mo	$125,400	$71	58
1708 Pelican Ave	0.75mi	4/2.0	1,925 (+2%)	1mo	$369,900	$192	57
1712 Pelican Ave	0.73mi	3/2.0 (-1)	1,725 (-9%)	0mo	$330,500	$192	42

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,161
• Equity at exit: $26,839

10-year hold

• IRR: 8.5%
• Equity multiple: 1.60×
• Total profit: $30,204
• Equity at exit: $15,563

Cash invested: $50,400 (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 39564

• Home prices YoY: -26.8%
• Rents YoY: 1.3%
• Active inventory: 714
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,209 high
• Mortgage (P&I): −$944
• Tax from tax record: −$192 /mo · $2,306/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $534

Break-even live

Break-even rent $1,533

Max offer price $180,000

Occupancy floor 71%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1517 Porpoise Dr Ocean Springs, MS	3.0	2.0	1494	$2,250	$1.51	13d	1	0.08mi
1508 Beachview Dr Ocean Springs, MS	3.0	2.0	1428	$1,650	$1.16	13d	1	0.14mi
1700 Lake Mars Ave Ocean Springs, MS	4.0	2.0	2100	$2,100	$1.00	13d	1	0.30mi
9200 Pointe Aux Chenes Rd Unit 1365709P Ocean Springs, MS	3.0	2.0	1420	$5,979	$4.21	13d	1	0.57mi
8001 Westwood Cir Ocean Springs, MS	3.0–5.0	2.0–3.0	1996	$2,425	$1.21	13d	1	1.22mi
1632 Emerald Lakes Dr Ocean Springs, MS	3.0–4.0	2.0	1585	$2,350	$1.48	13d	1	1.27mi

Listing history 19 events

1. 2026-06-18
   days on market $180,000 Active 56 DOM
2. 2026-06-17
   days on market $180,000 Active 55 DOM
3. 2026-06-16
   days on market $180,000 Active 54 DOM
4. 2026-06-15
   days on market $180,000 Active 53 DOM
5. 2026-06-14
   days on market $180,000 Active 51 DOM
6. 2026-06-13
   days on market $180,000 Active 50 DOM
7. 2026-06-10
   days on market $180,000 Active 48 DOM
8. 2026-06-09
   days on market $180,000 Active 47 DOM
9. 2026-06-08
   days on market $180,000 Active 46 DOM
10. 2026-06-07
    days on market $180,000 Active 45 DOM
11. 2026-06-02
    days on market $180,000 Active 40 DOM
12. 2026-06-01
    days on market $180,000 Active 39 DOM
13. 2026-05-31
    days on market $180,000 Active 38 DOM
14. 2026-05-30
    days on market $180,000 Active 37 DOM
15. 2026-04-24
    listed $180,000 Active 721-char remark
16. 2023-09-18
    historical $1,500
17. 2023-08-24
    listed $1,500
18. 2013-04-04
    soldstatus 266-char remark

    Show marketing remark (266 chars)

    Take advantage of FHA $100 down loan on this 4BR/3BA home in Gulf Park Estates. Seller will pay 3% closing cost. HUD owned, sold AS-IS, FHA case #281-295080, FHA IE, insured with $3850.00 repair escrow. Go to www.hudpemco.com for more info. Call your realtor to see.

19. 2012-10-22
    listed $78,400 266-char remark

    Show marketing remark (266 chars)

    Take advantage of FHA $100 down loan on this 4BR/3BA home in Gulf Park Estates. Seller will pay 3% closing cost. HUD owned, sold AS-IS, FHA case #281-295080, FHA IE, insured with $3850.00 repair escrow. Go to www.hudpemco.com for more info. Call your realtor to see.

ⓘ 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: $2,306 · $192/mo
• Projected year-2 tax: $2,306 · $192/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 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $26,508
• − Mortgage interest: −$10,083
• − Property taxes: −$2,306
• − Insurance: −$900
• − Repairs & maintenance: −$2,121
• − Management: −$2,121
• − Depreciation: −$5,236
• Taxable income: $3,741
• Est. tax owed @ 24.0%: −$898
• After-tax cash flow: $5,510/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: Ocean Springs School District
• NCES district ID: 2803360
• Math proficiency: 64% ▼ -3.00%
• Reading proficiency: 59% ▲ 1.00%
• Median HH income: $60,485
• Composite: 53.35/100
• National rank: #1477
• State rank: #1 of 130 in MS

Livability — Gulf Park Estates

• Score: 70/100
• State rank: #43
• US rank: #7955

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulf Park Estates, MS
• County: Jackson County · 82,196 people
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 43,240
• Household income: $78,596
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 734.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 5% Slovak 4% Romanian 2%
• Foreign-born: 5% · Canada, South Korea, Vietnam
• Languages at home: 93% English-only · Spanish 3% Vietnamese 2% Tagalog/Filipino 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: ▼ -74.77%
• Current HPI: 204.2244
• Rent YoY: ▲ 1.31%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+129.6% since first listed

5 events — show timeline

• 2026-04-24 Listed $180,000 MLSU
• 2023-09-18 Rental Removed $1,500 APPFOLIO
• 2023-08-24 Listed for Rent $1,500 APPFOLIO
• 2013-04-04 Sold (MLS) — MLSU
• 2012-10-22 Listed $78,400 MLSU

Property tax history

+4.0%/yr

Latest (2025): $2,306 · +6.3% YoY. Source: county tax records.