5020 Hawk St · Waveland, MS 39520

$155,000

3 bd · 2.0 ba · 1,241 sqft · SingleFamily public records · 37 Days on market

Built 1977 9,147 sqft lot $125/sqft · 42% below area Est $267k · 42% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This waterfront property offers a great opportunity to update and make it your own in a high-demand coastal area. With quick access to open water and just minutes from downtown, the location is hard to beat. Inside, the home features an open kitchen and living layout, giving you a flexible starting point for updates or a fresh new look. Outside, you have your own private pier, kayak launch, fire pit, storage shed, and covered parking—plenty already in place to enjoy the waterfront lifestyle. The canal accommodates most boats, and a public launch is conveniently nearby. With a great location, waterfront access, and plenty of room to add value, this property offers a lot of potential in

Key facts

• Kayak launch
• Canal front
• Newer pier

Tags

• CANAL FRONT
• OPEN KITCHEN LIVING LAYOUT
• NEWER PIER
• KAYAK LAUNCH
• FIRE PIT
• STORAGE SHED

Property features AI

Finance

• HOA & community: Community amenities include boating and fishing

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Single-family house; One story; Fixer condition; Entry level on one; Siding exterior
• Construction: Siding construction; Pillar/post/pier foundation; Shingle roof; Built (year per public records)
• Exterior features: Deck; Rear porch; Dock; Shed(s); Canal-front waterfront; Property offers views

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator; Microwave
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Washer/Dryer included; Microwave; Deck access from interior (deck/rear porch present)
• Laundry & utility: Washer/Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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: schools F, amenities F, commute F.
• 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.
• Market conditions: 601 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y ago; this cycle's ask has dropped $13k (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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.61% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.04%
• DSCR: 2.16
• GRM: 5.2

CMA / ARV

• ARV (median comp): $266,541
• List price: $155,000
• Delta: -41.85%
• 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
10068 E Bayou View Dr	0.18mi	3/2.0	1,200 (-3%)	10mo	$349,900	$292	78
10008 Willow St	0.40mi	2/1.5 (-1)	1,232 (-1%)	1mo	$229,000	$186	73
5026 Kilimanjaro St	0.55mi	3/2.0	1,280 (+3%)	3mo	$269,500	$211	67
10167 Lagan St	0.70mi	3/2.0	1,200 (-3%)	2mo	$229,000	$191	60
10067 Bancroft St	0.33mi	2/2.0 (-1)	1,086 (-12%)	1mo	$209,500	$193	58
5030 Logan St	0.60mi	2/1.5 (-1)	1,288 (+4%)	3mo	$259,900	$202	56
5012 Georgia St	0.74mi	3/2.0	1,222 (-2%)	8mo	$309,000	$253	56
5022 Lory St	0.47mi	3/2.0	1,127 (-9%)	13mo	$217,511	$193	52
6007 4th St	0.62mi	3/2.0	1,152 (-7%)	9mo	$249,999	$217	51
4031 2nd Ave	0.74mi	2/2.0 (-1)	1,250 (+1%)	13mo	$159,900	$128	49
5169 1st Ave	0.44mi	2/2.0 (-1)	1,150 (-7%)	20mo	$290,000	$252	45
9110 Dove St	0.75mi	2/2.0 (-1)	1,056 (-15%)	6mo	$214,900	$204	30

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: 4.7%
• Equity multiple: 1.18×
• Total profit: $7,980
• Equity at exit: $23,111

10-year hold

• IRR: 14.3%
• Equity multiple: 2.16×
• Total profit: $50,334
• Equity at exit: $13,402

Cash invested: $43,400 (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 39520

• Active inventory: 601
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$156 /mo · $1,869/yr
• Insurance: −$65
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $515

Break-even live

Break-even rent $1,848

Max offer price $155,000

Occupancy floor 74%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4024 Blue Jay St Bay Saint Louis, MS	2.0	2.0	953	$2,500	$2.62	14d	1	1.37mi

Listing history 33 events

1. 2026-06-07
   days on market $155,000 Active 37 DOM
2. 2026-06-05
   days on market $155,000 Active 34 DOM
3. 2026-06-03
   days on market $155,000 Active 33 DOM
4. 2026-06-02
   days on market $155,000 Active 32 DOM
5. 2026-06-01
   days on market $155,000 Active 31 DOM
6. 2026-05-31
   days on market $155,000 Active 30 DOM
7. 2026-05-30
   days on market $155,000 Active 29 DOM
8. 2026-05-13
   status Active 767-char remark
9. 2026-05-13
   price $155,000 767-char remark
10. 2026-05-10
    status Pending 767-char remark
11. 2026-04-28
    listed $168,000 Active 767-char remark
12. 2026-04-08
    status Pending
13. 2026-04-08
    historical
14. 2026-04-04
    price $168,000
15. 2026-03-12
    price $175,000
16. 2026-02-16
    listed $182,000 Active
17. 2026-02-13
    status Pending
18. 2026-02-09
    price $182,000
19. 2025-12-02
    price $189,900
20. 2025-11-12
    listed $199,900 Active
21. 2021-09-15
    historical
22. 2021-08-24
    soldstatus
23. 2021-04-15
    listed $135,000
24. 2017-08-25
    soldstatus
25. 2017-04-04
    listed $74,900
26. 2016-09-28
    soldstatus
27. 2016-08-23
    listed $9,975
28. 2015-05-06
    listed $132,500
29. 2007-11-20
    soldstatus
30. 2006-08-04
    soldstatus
31. 2006-07-24
    listed $13,000
32. 2006-03-10
    listed $13,000
33. 1996-10-29
    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: $1,869 · $156/mo
• Projected year-2 tax: $1,869 · $156/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $30,000
• − Mortgage interest: −$8,682
• − Property taxes: −$1,869
• − Insurance: −$5,894
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$4,509
• Taxable income: $4,246
• Est. tax owed @ 24.0%: −$1,019
• After-tax cash flow: $5,165/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

• Census place: Waveland, MS
• 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

+1092.3% since first listed

27 events — show timeline

• 2026-05-13 Relisted — MLSU
• 2026-05-13 Price Changed $155,000 MLSU
• 2026-05-10 Pending — MLSU
• 2026-05-10 Listing Removed — MLSU
• 2026-04-28 Listed $168,000 MLSU
• 2026-04-08 Pending — MLSU
• 2026-04-08 Listing Removed — MLSU
• 2026-04-04 Price Changed $168,000 MLSU
• 2026-03-12 Price Changed $175,000 MLSU
• 2026-02-16 Listed $182,000 MLSU
• 2026-02-13 Pending — MLSU
• 2026-02-09 Price Changed $182,000 MLSU
• 2025-12-02 Price Changed $189,900 MLSU
• 2025-11-12 Listed $199,900 MLSU
• 2021-09-15 Listing Removed — MLSU
• 2021-08-24 Sold (MLS) — MLSU
• 2021-04-15 Listed $135,000 MLSU
• 2017-08-25 Sold (MLS) — MLSU
• 2017-04-04 Listed $74,900 MLSU
• 2016-09-28 Sold (MLS) — MLSU
• 2016-08-23 Listed $9,975 MLSU
• 2015-05-06 Listed $132,500 MLSU
• 2007-11-20 Sold (Public Records) — Public Records
• 2006-08-04 Sold (MLS) — MLSU
• 2006-07-24 Listed $13,000 MLSU
• 2006-03-10 Listed $13,000 MLSU
• 1996-10-29 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,869 · +0.4% YoY. Source: county tax records.