118 Lassere Cir · Long Beach, MS 39560

$150,000

3 bd · 1.5 ba · 1,050 sqft · SingleFamily public records · 13 Days on market

Built 1975 0.26 ac lot $143/sqft · 14% below area Est $175k · 14% under

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Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +13.8/15.0
• DSCR +5.3/10.0
• 1% rule +4.4/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

Key facts

• Spacious fenced yard
• Quiet cul-de-sac
• Covered carport

Tags

• OVERSIZED LOT
• QUIET CUL-DE-SAC
• COMPLETE BATHROOM RENOVATION
• COVERED CARPORT
• ATTACHED LAUNDRY AREA
• SPACIOUS FENCED YARD

Property features AI

Finance

• Other: Living area reported as 1,050 (source: public records); Lot size approximately 0.26 acres with irregular dimensions
• Financial info: Financial details not provided
• HOA & community: No HOA information provided

Exterior

• Parking: Carport (1 space); Driveway; RV carport; Paved parking
• Security: No security features listed
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single family residence (house); One level; Move-in ready
• Construction: Brick construction; Shingle roof; Slab foundation; Built year information from public records
• Exterior features: Private yard; Back yard fencing; RV hookup; Portable building and shed(s); Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedrooms information not provided
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Breakfast bar; Ceiling fan(s); Laminate counters; Blinds
• Laundry & utility: Washer and dryer (laundry located in carport); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $100 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (6.3% below list).
• Recommended offer: $141k (6.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.6% in Long Beach — 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 69/100 on livability (#52 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.
• Long Beach School District (suburban): math 52% / reading 50% proficiency, ranked #9 of 130 in MS (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Long Beach Middle School (math 65% / reading 52%, grade B, #10 of 179 statewide, top 5%, 453 students, 99% FRL); Long Beach Senior High School (math 22% / reading 47%, grade F, #68 of 197 statewide, top 39%, 932 students, 100% FRL) — zoned schools average 100% FRL vs 43% district-wide (57 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.9%/yr); 311 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,194 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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: major flood risk; 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 $140,519 (6.3% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.86%
• DSCR: 1.13
• GRM: 8.9

CMA / ARV

• ARV (median comp): $174,526
• List price: $150,000
• Delta: -14.05%
• 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
118 Lassere Cir	0.00mi	3/1.5	1,050 (0%)	0mo	$150,000	$143	100
104 Lassere Cir	0.09mi	3/1.5	1,064 (+1%)	15mo	$120,000	$113	81
105 N Ida Ln	0.29mi	3/2.0	1,081 (+3%)	1mo	$139,900	$129	79
325 Lawler Ave	0.36mi	3/2.0	1,026 (-2%)	0mo	$124,900	$122	77
216 E 3rd	0.47mi	2/2.0 (-1)	1,071 (+2%)	3mo	$245,000	$229	65
201 S Nicholson Ave	0.24mi	2/2.0 (-1)	1,154 (+10%)	15mo	$274,000	$237	53
914 Park Row Ave	0.44mi	4/2.0 (+1)	1,137 (+8%)	10mo	$150,000	$132	50
319 Meadow Wood Cir	0.68mi	3/1.0	1,023 (-3%)	15mo	$179,900	$176	49
421 E 4th St	0.32mi	2/2.0 (-1)	1,176 (+12%)	13mo	$325,000	$276	47
124 S Ocean Wave Ave	0.73mi	2/1.0 (-1)	960 (-9%)	12mo	$205,000	$214	34
1212 7th St	0.63mi	3/2.0	1,200 (+14%)	14mo	$171,000	$143	33
1158 E Old Pass Rd	0.53mi	4/1.0 (+1)	1,206 (+15%)	13mo	$189,000	$157	32

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 · 1.93% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-19,412
• Equity at exit: $22,365

10-year hold

• IRR: -5.6%
• Equity multiple: 0.65×
• Total profit: $-14,672
• Equity at exit: $12,969

Cash invested: $42,000 (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 39560

• Home prices YoY: -25.7%
• Rents YoY: 1.9%
• Active inventory: 311
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,405 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$161 /mo · $1,929/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $100

Break-even live

Break-even rent $1,278

Max offer price $150,000

Occupancy floor 88%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Lawler Ave Long Beach, MS	2.0	1.0	822	$1,250	$1.52	13d	1	0.30mi
1206 Beach Ave Gulfport, MS	3.0	2.0	1076	$1,500	$1.39	13d	1	1.14mi
1412 Jo Ellen Cir Gulfport, MS	3.0	1.5	1275	$1,050	$0.82	13d	1	1.25mi

Listing history 11 events

1. 2026-05-08
   status Pending 836-char remark
2. 2026-04-24
   listed $150,000 Active 836-char remark
3. 2022-07-15
   soldstatus Closed 558-char remark

   Show marketing remark (558 chars)

   Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

4. 2022-07-15
   soldstatus

   Show marketing remark (558 chars)

   Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

5. 2022-06-16
   status Pending 558-char remark

   Show marketing remark (558 chars)

   Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

6. 2022-06-14
   status Active 558-char remark

   Show marketing remark (558 chars)

   Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

7. 2022-06-05
   status Pending 558-char remark

   Show marketing remark (558 chars)

   Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

8. 2022-06-03
   listed $121,800 Active 558-char remark

   Show marketing remark (558 chars)

   Back on the market due to buyer financing. Lovely home located at the end of a quiet cul-de-sac with an oversized yard. Living, dining, and kitchen area are pretty open with a breakfast bar with upper cabinets. Roof is less than a year old (installed January 2022)! All appliances less than nine years old. New luxury vinyl plank installed approximately four years ago. Master bedroom has a half bath. Laundry room located under the carport. Great starter home or investment property at a great price! Security system with cameras inside & out.

9. 2018-05-18
   soldstatus
10. 2018-05-15
    soldstatus

    Show marketing remark (190 chars)

    Nice brick home located on dead end street in the Long Beach school district All electric with 3 bedrooms and 1.5 baths. Single carport. Shaded front yard. New carpet in two of the bedrooms.

11. 2017-11-13
    listed $75,000

    Show marketing remark (190 chars)

    Nice brick home located on dead end street in the Long Beach school district All electric with 3 bedrooms and 1.5 baths. Single carport. Shaded front yard. New carpet in two of the bedrooms.

ⓘ 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: $1,929 · $161/mo
• Projected year-2 tax: $1,929 · $161/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 X (unshaded) · 70% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,862
• − Mortgage interest: −$8,402
• − Property taxes: −$1,929
• − Insurance: −$750
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$4,364
• Taxable loss: −$1,280
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $1,511/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: Long Beach School District
• NCES district ID: 2802670
• Math proficiency: 52% ▼ -8.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $50,548
• Composite: 43.68/100
• National rank: #2955
• State rank: #9 of 130 in MS

Livability — Long Beach

• Score: 69/100
• State rank: #52
• US rank: #8554

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, MS
• County: Harrison County · 178,171 people
• City population: 18,702
• Metro: Gulfport-Biloxi, MS
• Population (ZIP): 18,702
• Household income: $69,769
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 658.0

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: Predominantly White (80%)
• Race & ethnicity: White 80% Black 10% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 6% Slovak 2% Serbian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 2% Tagalog/Filipino 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: ▼ -67.49%
• Current HPI: 195.0807
• Rent YoY: ▲ 1.93%
• Metro: Gulfport-Biloxi, MS
• State GDP YoY: —
• F500 in state: 0

Price history

+100.0% since first listed

12 events — show timeline

• 2026-06-08 Sold (MLS) — MLSU
• 2026-05-08 Pending — MLSU
• 2026-04-24 Listed $150,000 MLSU
• 2022-07-15 Sold (Public Records) — Public Records
• 2022-07-15 Sold (MLS) — MLSU
• 2022-06-16 Pending — MLSU
• 2022-06-14 Relisted — MLSU
• 2022-06-05 Pending — MLSU
• 2022-06-03 Listed $121,800 MLSU
• 2018-05-18 Sold (Public Records) — Public Records
• 2018-05-15 Sold (MLS) — MLSU
• 2017-11-13 Listed $75,000 MLSU

Property tax history

+2.7%/yr

Latest (2025): $1,929 · +4.2% YoY. Source: county tax records.